Remove 2024 Remove Collector Remove Credit and Collections
article thumbnail

A Focus on Collections & Credit Fraud

Your Virtual Credit Manager

In our case, we found a continued interest in collection technique and strategy, as well as in fighting credit fraud. What follows is a summary of the three most read article for the 12 months ending in October 2024, and links to the originals. To avoid this, collections should begin within 3-7 days of the due date.

Collector 130
article thumbnail

Effective Communication Strategies for Collecting Past Due Accounts

Your Virtual Credit Manager

Finding the time and resources to complete every collection activity needed to be done at the optimal time to be done is a constant challenge. Most small companies come up short because the owner or CFO have more important things to do and there isn’t a dedicated employee responsible for credit and collections.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

RMAI Update September 2024

RMAi Blog

On September 5, 2024 the CFPB issued its annual Fair Debt Collection Practices Act report. The report stated that the CFPB received approximately 109,900 debt collection complaints in 2023. The number one complaint type was “attempts to collect debt not owed.”

Collector 130
article thumbnail

RMAI Update October 2024

RMAi Blog

In This Update Earlier this month, the CFPB issued an Advisory Opinion reminding debt collectors of their obligation to comply with the Fair Debt Collection Practices Act and Reg F’s prohibitions on false, deceptive, or misleading representations in the collection of medical debt (see RMAI’s October 4, 2024 Member Alert ).

article thumbnail

2025 Officers & Directors Elected to Lead Receivables Management Association International

RMAi Blog

LLC, President Elect Brian Williams, Crown Asset Management, LLC, Treasurer Joe Barbito, Orbita Capital Group, LLC, Secretary Brett Soldevila, Security Credit Services, LLC, Past President Michael Cassidy, Velocity Portfolio Group, Inc., Mellisa Massey, National Credit Adjusters, Director Mark Ravanesi, TrueAccord, Director Andrew J.

Law Firms 130
article thumbnail

Upcoming Webinar: "Strategic Collections"

Your Virtual Credit Manager

Tuesday, August 6, 2024 1:30 PM Eastern Daylight Time (EDT) Learn More & Register Special offer for readers of Your Virtual Credit Manager: This session will discuss how to optimize cash flow and working capital for your enterprise by applying the best collection strategy to each customer.

Collector 100
article thumbnail

RMAI Update December 2024

RMAi Blog

CFPB expressed concern over social media influencers on platforms like TikTok and Instagram spreading misinformation about debt collections. 24-5303, 2024 U.S. The consumer didnt pay the providers bills, and eventually the provider retained a collection agency which reported the debts to credit reporting agencies.