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RMAI Update September 2024

RMAi Blog

On September 5, 2024 the CFPB issued its annual Fair Debt Collection Practices Act report. In a June 2024 meeting with RMAI leadership, Director Chopra shared that the CFPB expects a high number of debt collection complaints simply by nature of the business. 22-11875, 2024 U.S. Lexington Place Condo. Ass’n, No.

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RMAI Update December 2024

RMAi Blog

24-5303, 2024 U.S. 3, 2024) A consumer had numerous visits to a hospital emergency room and each time signed a “Conditions and Authorization for Treatment” form prior to receiving treatment from a third-party emergency physician healthcare provider. Louisville Recovery Serv., LEXIS 30611 (6th Cir. Vargo & Janson, P.C.

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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 receive new posts and support my work, consider becoming a free or paid subscriber.

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Resolve to Be More Proactive in 2024

Your Virtual Credit Manager

Two weeks ago we recapped the three most read articles from 2023: identifying red flags, understanding why customers pay late, and the secrets of successful collectors. Then last week we looked at credit hold best practices. From a credit management perspective, these are largely reactive topics.

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Dealing with Difficult Debtors

Your Virtual Credit Manager

until July 31, 2024, you can take advantage of our Independence Day Sale to lock your subscription to Your Virtual Credit Manager at $34.99 Do you need help managing credit and collections? The experts at Your Virtual Credit Manager are currently offering 33% off our standard small business consulting rates.

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Lessons for Trade Creditors from Recent Bankruptcies

Your Virtual Credit Manager

” (Photo by Devon MacKay on Unsplash ) This applies to credit and collections as well as anything else. Collectors are continually learning what works to get people to pay up and what doesn’t. Credit analysts should also review past decisions to improve their future performance regarding approvals, limits and term setting.

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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.

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