MNS Credit Management Group

JULY 12, 2023

Bad debt recovery: What is it? The money that your company receives after writing off bad debt as uncollectible is known as bad debt recovery. When the borrower is unable to repay the lender within the allotted time, the bad debt recovery process is initiated. How may loan risks be diminished?

Bad Debt 52

Bad Debt Collector Debt Collections Credit and Collections 52

Your Virtual Credit Manager

JANUARY 9, 2024

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.

Credit and Collections 130

Credit and Collections AR Aging Accounts Receivable (AR) Deductions 130

CreditStrong for Business

AUGUST 27, 2024

If a consumer has an unpaid debt on an existing credit account, the original lender will eventually close the account and charge off the bad debt. Generally, these debts are reported to the credit bureaus and remain as a negative entry on your credit history for seven years. What is a Charge-Off?

Collector 52

Collector Credit Reporting Agencies Credit Scoring Third Party Collections 52

Due

MARCH 3, 2023

Your credit score is 579 or lower. In this case, additional credit is difficult to get at a reasonable interest rate as this is below the average. If you are experiencing [credit card] debt, you need to handle it urgently, possibly even delaying retirement contributions while you get your balances under control.

Credit Scoring 105

Credit Scoring Bankruptcy Medical Billing Brokerages 105

MNS Credit Management Group

DECEMBER 2, 2022

Who are debt collectors? A corporation or agency that recovers money owing on past-due debts is known as a debt collector. Many businesses that owe money to creditors use debt collectors, who work for a fee or a portion of the total amount collected. Introduction. Key Takeaways.

Debt Collections 52

Debt Collections Collector Credit and Collections Bad Debt 52

Due

MARCH 3, 2023

Your credit score is 579 or lower. In this case, additional credit is difficult to get at a reasonable interest rate as this is below the average. If you are experiencing [credit card] debt, you need to handle it urgently, possibly even delaying retirement contributions while you get your balances under control.

Credit Scoring 64

Credit Scoring Bankruptcy Medical Billing Brokerages 64

MNS Credit Management Group

SEPTEMBER 24, 2023

Because consumer debt is routinely reported to major credit bureaus like Equifax, Experian, and TransUnion, it may have an effect on a customer’s credit score. Debt for consumers is frequently cheaper than debt for businesses.

Debt Collections 52

Debt Collections Credit and Collections Collector Credit Management 52