Your Virtual Credit Manager

DECEMBER 6, 2022

At a very basic level, you should always have new customers complete a credit application, including bank and vendor (trade) references, and sign a credit agreement ( for an article about credit appications click here ). After collecting your payments you still have work to do.

DSO 130

DSO Credit and Collections Bad Debt AR Aging 130

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

Fundera

MAY 25, 2017

Additional highlights of the NCAP can be found on the website and have standards that apply to various credit reporting issues surrounding medical debt, filing disputes, dealing with debt collectors, and more. How the NCAP Standards Will Affect Your Credit Score. The VantageScore 4.0

Credit Scoring 74

Credit Scoring Credit and Collections Collector Credit Application 74

MNS Credit Management Group

AUGUST 11, 2023

Debt collectors must use crucial tactics to do this, which guarantee a win-win situation for all sides. These tactics consist on comprehending the debtors’ situation, abiding by the applicable laws, being professional, and using negotiation techniques. The debt collectors will make an effort to come to a deal with the debtor.

Debt Collections 52

Debt Collections Collector Out of Court Settlement Credit and Collections 52

Gaviti

FEBRUARY 18, 2024

In many traditional collections teams, each individual collector develops their own process for managing invoices. It’s important to receive regular risk assessments for your customers to verify their creditworthiness and extend credit to them based on their payment history, not out of courtesy. Collections Analytics.

Credit and Collections 52

Credit and Collections Deductions Collector Payment Portals 52

Gaviti

FEBRUARY 18, 2024

In many traditional collections teams, each individual collector develops their own process for managing invoices. It’s important to receive regular risk assessments for your customers to verify their creditworthiness and extend credit to them based on their payment history, not out of courtesy. Collections Analytics.

Credit and Collections 52

Credit and Collections Deductions Collector Payment Portals 52

Gaviti

JUNE 13, 2024

Many businesses rely on manual spreadsheets to manage their accounts receivables process, often with each individual collector only having information about his or her own accounts. Credit Management and Monitoring. But you don’t have to sink a lot of extra time and resources to automate your accounts receivables process.

Credit and Collections 40

Credit and Collections DSO Deductions Collector 40

Credit & Management Systems, Inc.

OCTOBER 17, 2016

A portion of my career in the credit industry has been spent as a collector for a chocolate manufacturing company. Because our client base included a vast number of “mom & pops”, I soon learned how valuable the credit file was to my job.

Collector 40

Collector Credit and Collections Bankruptcy Credit Application 40

Gaviti

FEBRUARY 18, 2024

Its experienced PCS debt collectors are knowledgeable of relevant regulations such as HIPAA and legal processes necessary to recover debt. In addition, it includes: Credit Monitoring and Management. Extending credit to non-creditworthy customers increases the risk of customer debt.

Debt Collections 52

Debt Collections Credit and Collections Days Sales Outstanding Invoice to Cash 52

Abrigo

NOVEMBER 22, 2021

“This applies not only to consumer loans but to mortgages — residential and commercial—every form of credit in America,” he said during a recent Abrigo webinar, “ Consumer Lending 101.”. Reg B, which implements one of two federal fair lending laws (the other is the Fair Housing Act), describes requirements for accepting credit applications.

Credit and Collections 78

Credit and Collections Debt Collections Credit Unions Electronic Funds Transfer 78

Your Virtual Credit Manager

NOVEMBER 29, 2022

Your credit application should include all this information. A recent credit bureau report is also helpful in this regard. Your Virtual Credit Manager now offers reasonably priced business credit reports through Accredit, a leading reseller of credit bureau reports.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Default Collector 130