RMAi Blog

OCTOBER 11, 2024

It provides collectors with the tools to manage the collection and recovery process. Latitude deploys a true zero-footprint, browser-based environment for collectors and agents. About Latitude by Genesys Latitude by Genesys® is a comprehensive debt collection and recovery solution for managing all receivables processes.

Collector 147

Collector Debt Collections 147

Eastern Credit Management Services

JUNE 10, 2019

“You’re a Bill Collector, you collect overdue accounts; thus you must be one”, you would not believe how often we hear this day today. The truth is yes, we collect overdue accounts, but we are not Bill Collectors by definition; we are an extension of your business.

Collector 52

Collector Debt Collections Credit and Collections Credit Management 52

SAP Credit Management

AUGUST 3, 2023

Collector OpenTelemetry supports two primary methods of exporting data from your process to an analysis backend: either directly from a process or by proxying it through the OpenTelemetry Collector. A collector is a proxy that can receive , process , and export telemetry data. Traces track the progression of a single request.

Collector 155

Collector 155

Your Virtual Credit Manager

JULY 2, 2024

Being a collector requires patience, persistence, and effective communication skills. That’s why collectors need to be effective communicators. It just as important for the debtor’s representative to know you are a fair and honest collector as for you to be able to recognize the different debtor personas.

Collector 130

Collector Debt Collections Past Due Invoices Credit and Collections 130

Your Virtual Credit Manager

MARCH 14, 2023

If a company executive is not the primary collector, there is nothing wrong with them giving it a try. Because collectors are charged with the collection of past due receivables, they end up having to clean up the problems resulting from errors and discrepancies caused by sales, fulfillment and billing.

Collector 189

Collector Past Due Invoices Credit and Collections Bad Debt 189

RMAi Blog

SEPTEMBER 13, 2024

California SB 1286 – This bill would expand the scope of the Rosenthal Fair Debt Collection Practices Act to prohibit debt collectors from engaging in unfair or deceptive acts or practices in the collection of commercial debts owed by a natural person of $500,000 or less that were entered into, renewed, sold, or assigned on or after July 1, 2025.

Collector 130

Collector Law Firms Credit and Collections Debt Collections 130

Your Virtual Credit Manager

MAY 21, 2024

Collectors face numerous challenges when attempting to collect past due balances from business customers. These difficulties can stem from both the financial and operational circumstances of the debtor as well as the interpersonal dynamics between the collector and the customer.

Collector 100

Collector Credit and Collections Credit Management Small Businesses 100

RMAi Blog

OCTOBER 21, 2024

Since the rule’s adoption, RMAI, ACA International, and the New York State Collectors Association have been in joint communication with DCWP where we have expressed serious concern about the ability to operationalize the rule by its December 1 st effective date as well as confusing and contradictory provisions contained therein.

Collector 130

Collector Debt Collections 130

Your Virtual Credit Manager

DECEMBER 26, 2023

We then provide situation intelligence regarding the causes of past due balances, and finally reveal seven habits common to successful collectors. Successful collectors understand that persistence is critical to getting paid. Effective collectors call early and often. Successful collectors do not ease up on the pressure.

Collector 130

Collector Credit and Collections Default Third Party Collections 130

JSP Credit Management

OCTOBER 10, 2021

Does it offer transferable benefits to the professionals that operate in the sector and to the consumers and customers of companies employing debt collectors? Well, let’s look at it from the owner of the debt’s perspective.

Collector 52

Collector Debt Collections Credit and Collections Bad Debt 52

Your Virtual Credit Manager

JUNE 4, 2024

Most of the collectors seemed relieved I was cooperating and accepted my initial offer. In fact, there was only one collector that tried to collect everything owed, and I was able to get them to accept three payments over the next five weeks. If none of our orders were on hold, I would offer to pay in a couple of weeks.

Collector 130

Collector Credit and Collections Past Due Invoices Credit Management 130

MNS Credit Management Group

JULY 12, 2023

The post How MNS can help to Prevent Bad Debts in 2023: Expert Advice from a Debt Collector appeared first on MNS Credit Management Group (p) Ltd. Risks do exist, though. Effective use of these technologies helps reduce risks and recover bad debts.

Bad Debt 52

Bad Debt Collector Debt Collections Credit and Collections 52

Reorg Blog

DECEMBER 12, 2023

The post Debt Collector Sector Review (Part II): High Rates, Low NPL Prices Imply Unsustainable Capital Structures; Reorg Constructive on Intrum, DoValue, Arrow Global on RV Basis; Cautious on Lowell, DDM Due to Refinancing and Operating Risk appeared first on Reorg.

Collector 52

Collector 52

Reorg Blog

DECEMBER 12, 2023

The post Debt Collector Sector Review (Part II): High Rates, Low NPL Prices Imply Unsustainable Capital Structures; Reorg Constructive on Intrum, DoValue, Arrow Global on RV Basis; Cautious on Lowell, DDM Due to Refinancing and Operating Risk appeared first on Reorg.

Collector 52

Collector 52

RevCycle

JULY 26, 2023

Medical debt collectors may use aggressive tactics to collect debts, such as calling patients at work or threatening to sue. Work with debt collectors to resolve disputes. If a patient disputes a medical debt, healthcare providers should work with debt collectors to resolve the dispute. Aggressive debt collection practices.

Collector 186

Collector Credit and Collections Medical Billing Debt Collections 186

Your Virtual Credit Manager

DECEMBER 13, 2022

People do not aspire to become commercial debt collectors. Many of us went to college and got degrees in business administration or accounting or even liberal arts and science, but due to the vagaries of providence ended up getting jobs handling credit and collectors. Nobody grows up wanting to be a bill collector.

Collector 130

Collector Credit and Collections Past Due Invoices Credit Management 130

Your Virtual Credit Manager

JANUARY 16, 2024

Here then are eleven mistakes that business debt collectors should avoid: 1. Ignoring Customer Disputes When a customer disputes an invoice or has issues with the services your business provided, it’s up to the collector to investigate before making additional collection demands beyond asking for payment of non-disputed items.

Debt Collections 130

Debt Collections Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

JUNE 11, 2024

Because B2B collection software wasn’t yet commercially available, we were very fortunated to have a very capable and open minded IT manager, Working with him, we were able to consolidate most of the information my three permanent collectors needed onto three screens, as opposed to the eight that we were regularly using with the new system.

AR Automation 130

AR Automation DSO Collector Accounts Receivable (AR) 130

RMAi Blog

SEPTEMBER 25, 2024

Rosenthal Fair Debt Collection Practices Act relating to commercial debts California SB 1286 – This bill would expand the scope of the Rosenthal Fair Debt Collection Practices Act to prohibit debt collectors from engaging in unfair or deceptive acts or practices in the collection of commercial debts owed by a natural person of $500,000 or less that (..)

Credit Reporting Agencies 130

Credit Reporting Agencies Medical Billing Debt Collections Credit and Collections 130

RMAi Blog

AUGUST 16, 2024

Based on the perceived difficulty in complying with the onerous provisions contained in the regulations, RMAI would not be surprised if some debt collectors switched to a litigation model or simply decided to forgo collections in New York City. The rule takes effect on December 1, 2024.

Debt Collections 130

Debt Collections Collector 130

SAP Credit Management

JULY 12, 2023

2981865 – ICMON collector change with OAuth authentication. 3082444 – ICMON collector change with OAuth authentication for SP11. Choose the interface channel and monitor the metrics Useful sap notes: 3289914 – Corrections for ICMON 7.2 Reference links: [link]

Collector 137

Collector 137

Your Virtual Credit Manager

AUGUST 2, 2024

Areas Covered in the Session Creating Time for Collections Understanding Collections Relationship to the Other Elements of the Quote-To-Cash Process Building an Efficient Collection Process Eliminating the Obstacles That Hinder Collection Efficiency Monitoring Collection Performance Monitoring Collector Workloads Why Collections Gets Knocked off Track (..)

Collector 100

Collector Credit and Collections Credit Management 100

Your Virtual Credit Manager

JANUARY 3, 2023

The volume of collection contact was inadequate, and individual collector performance was highly variable since it was not tracked. Solving the Collection Process Problem Since the problem was each collector doing their own thing in their own way, the solution involved providing structure to this company’s collection effort.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

JUNE 27, 2023

Collectors should as well. Visibility into the characteristics of each account coupled with transactional transparency allows a supplier to better do business with each account and build the relationship. No matter your automation sophistication, there are benefits from grouping customers into categories. Sales teams do it all the time.

Collector 26

Collector Credit and Collections High-Risk Accounts Accounts Receivable (AR) 26

Your Virtual Credit Manager

JULY 16, 2024

Collectors must deal with all sorts of excuses for what is owed not being paid. The best collectors are experts at parrying, or deflecting these excuses and forging ahead with their requests for payment. Collections becomes more challenging when the customer objects.

Accounts Receivable (AR) 100

Accounts Receivable (AR) Collector Past Due Invoices Credit and Collections 100

RevCycle

MAY 14, 2021

6,876 private actions were filed against debt collectors alleging violations of the FDCPA in 2020. Debt collectors are often forced to settle these cases regardless of merit because of the prohibitive cost of defending them. Change 2: Regulation F’s Acknowledgment of Modern Forms of Communication. Consumer-response information.

Collector 130

Collector Debt Collections Credit and Collections 130

RMAi Blog

FEBRUARY 6, 2023

Fortunately, voice technology may have the answer to most of the core challenges faced by collectors. What Voice AI Can Do for Collectors AI-powered voicebots, trained specifically for the ARM industry, can engage in intelligent, human-like conversations with consumers and help them to resolve their account balances.

Debt Collections 130

Debt Collections Collector Credit and Collections 130

SAP Credit Management

AUGUST 9, 2023

Additionally, the data collector provides filter capabilities to exclude system files, such as SAP-transport-management-related file accesses. The data collection phase for the flat file interfaces does not interfere with or extend the execution runtime of other SAP Readiness Check data collectors.

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Collector Dashboards Transactions 135

RMAi Blog

OCTOBER 14, 2024

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 ).

Credit and Collections 130

Credit and Collections Law Firms Collector Credit Reporting Agencies 130

SAP Credit Management

JANUARY 16, 2023

Payment run IDs that are reserved for BCM are put together in a collector identified by Merge ID. 5. Transaction BNK_MONIP gives an overview of all payments that are managed through BCM. Payments can be restricted by the collector, the date, the payment run date, ID, file, batch, and other criteria.

Collector 191

Collector Transactions 191

Your Virtual Credit Manager

JANUARY 30, 2024

Previously, decisions were largely left to the discretion of individual collectors, resulting in subjective and inconsistent approaches. Implementing a zero-tolerance collection policy for the smallest account segment (see Table #2) allows for a more streamlined and automated approach, reducing the collector's effort.

Credit and Collections 130

Credit and Collections Collector Accounts Receivable (AR) AR Automation 130

Your Virtual Credit Manager

APRIL 16, 2024

Get Help from the Pros When Appropriate : When debts drag on despite your best efforts, don’t hesitate to enlist professional debt collectors or a creditor’s rights attorney.

Accounts Receivable (AR) 130

Accounts Receivable (AR) Debt Collections Credit and Collections Collector 130

Your Virtual Credit Manager

JUNE 6, 2023

Seldom does a new collector appreciate the need for a balanced, holistic approach to debt collections. Then there are the new collectors who are task oriented. These folks invariably become good collectors, but in the beginning their focus on throughput makes them susceptible to taking shortcuts.

Debt Collections 100

Debt Collections Collector Credit and Collections Default 100

Eastern Credit Management Services

FEBRUARY 2, 2024

Compliance with local, provincial, and federal laws is paramount in debt collection, and attending seminars ensures that collectors are well-versed in the latest regulations. Collectors can learn to leverage technology to streamline processes, improve efficiency, and enhance overall collection performance.

Collector 52

Collector Debt Collections Credit and Collections Credit Management 52

RMAi Blog

MAY 12, 2023

A debt collector unaware of the discharge, allegedly due to a bona fide error, sent several collection letters to the consumer regarding the past-due rent. The consumer filed a lawsuit claiming the debt collector, by seeking payment following the discharge, “violated 15 U.S.C. Mendelson Firm, PLLC | TN Dynamic Collectors, Inc. |

Collector 130

Collector Credit and Collections Law Firms Debt Collections 130

SAP Credit Management

FEBRUARY 5, 2023

This is old “OP 2020” In this release Internal Order is the cost collector. Manual Pricing of Expense item Save the Service Order and release. On release, system will create an internal order. In newer Cloud and C4 releases, Service Order itself is the cost object.

Collector 152

Collector 152

RMAi Blog

APRIL 4, 2023

Defendants cited subsections within the FDCPA which allow debt collectors to serve legal processes on consumers and use telephones and telegrams to communicate with consumers, further noting that the communication in question was not an attempt to collect a debt (dunning letter).

Collector 100

Collector Debt Collections 100