RMAi Blog

SEPTEMBER 13, 2024

On September 5, 2024 the CFPB issued its annual Fair Debt Collection Practices Act report. Medical debt, rental debt, and consumer complaints were among the topics focused on in the report. The report stated that the CFPB received approximately 109,900 debt collection complaints in 2023.

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RMAi Blog

AUGUST 22, 2024

Making Evolutionary Changes The certification journey commenced in 2012, initially focusing on debt buyers. RMAI expanded its scope to include collection agencies, law firms, brokers, and most recently vendors, recognizing their individually diverse roles within the receivables management ecosystem.

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RMAi Blog

DECEMBER 13, 2024

CFPB expressed concern over social media influencers on platforms like TikTok and Instagram spreading misinformation about debt collections. The consumer didnt pay the providers bills, and eventually the provider retained a collection agency which reported the debts to credit reporting agencies. 1692, et seq.

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Due

JANUARY 3, 2023

You might get asked similar questions by lenders when you apply for loans and credit cards. To find out, they might check your credit report. What are credit reports, why are they important and what is in them? What is a Credit Report and Why is it Important? Credit Reports vs. Credit Scores.

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MNS Credit Management Group

JULY 18, 2023

Age above 15) Financial inclusion factors: 48% of people have a bank account; 24% have a credit card; 2.4% use mobile money; and 19% make transactions online. Source: [link] ] Debt Collection And Recovery in Bangladesh We are a reputable debt collection agency that focuses in collecting debts in Bangladesh(বাংলাদেশে ঋণ).

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Emagia

FEBRUARY 20, 2025

Automating these processes not only enhances accuracy but also ensures timely collections, thereby improving cash flow and reducing the days sales outstanding (DSO). Credit Management Automation Implementing automated credit management allows businesses to assess customer creditworthiness efficiently.

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Emagia

MAY 16, 2023

The average collection period is an important accounting metric that evaluates a company’s ability to manage its accounts receivable (AR) effectively. It measures the time it takes for the business to collect payments from its clients, which reflects its cash flow effectiveness and ability to meet short-term financial obligations.

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Eastern Credit Management Services

JUNE 13, 2023

In the challenging world of debt recovery, writing effective collection letters and demand notices is a paramount skill that can significantly impact your chances of successful debt resolution. This can motivate debtors to take the matter seriously and prioritize settling the debt. Reach out to us today.

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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?

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MNS Credit Management Group

MAY 3, 2023

After demonetization, the government closed all the channels for the creation and transfer of black money, resulting in stringent requirements for the accounting evidence supporting each transaction. In this article, we will explore the causes of these issues, their consequences in the b2b debt collection industry, and potential solutions.

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Professional Credit

MAY 5, 2022

Professional Credit is an industry resource for Reg F for a reason, and we’re here to give you the play-by-play. Regulation F was introduced largely to update the Fair Debt Collection Practices Act (FDCPA), which was first enacted in 1977. The CFPB’s edits to Reg F contained a lot of changes for collection agencies.

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FICO Blog

FEBRUARY 1, 2023

Despite many families so far managing to maintain their financial commitments — loans, credit card and mortgage repayments, as well as essential bills like utilities and rent — there are fears that rising inflation and interest rates may see a significant number struggle to make ends meet.

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TreviPay

SEPTEMBER 18, 2024

Trade credit insurance has become a vital tool for businesses looking to protect themselves from the risk of non-payment by customers. Trade credit insurance, also known as accounts receivable insurance, safeguards businesses from significant losses. This guide to trade credit insurance will help you navigate the complexities of it.

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JSP Credit Management

FEBRUARY 21, 2022

As JSP Credit Management fast approaches its 1st birthday, some time reflecting on content we have written over the last 10 months led us to recall our blog from 9th July 2021 titled , Growing Pains. Investment in credit management can cost a great deal, granted. It has nothing to do with simply wanting to put people or processes down.

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MNS Credit Management Group

NOVEMBER 22, 2022

Evaluating the entity’s overall financial sustainability in terms of its assets and liabilities examining the entity’s operations and confirming the relevant facts in relation to a proposed transaction. Transaction Covered Under Due Diligence. Due Diligence in Mergers and Acquisitions Transactions.

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Fundera

MAY 31, 2017

If you were to open up your wallet, odds are you’d find an American Express credit card (or business credit card) tucked into a fold. As a consumer in the United States, you know American Express as one of the biggest credit card issuers in the world. What do they offer? American Express Merchant Financing: How Does It Work?

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FICO Blog

JANUARY 9, 2023

They’re also sound business practice and a solid pathway for dealing with customers – irrespective of where business is being transacted. Plenty still have siloed data across marketing, credit risk, customer management, fraud, compliance, and collections operations. Source: fca.org. Structure of Consumer Duty. Learn More Here.

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JSP Credit Management

SEPTEMBER 28, 2021

So a career in various credit management roles before JSP Credit Management being born of over 15 years has left us extremely well placed to pass comment on some potential causal factors affecting non-payment. However, we are not just here to slap commission rates on provisioned debts for companies and set about recovering it for them.

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JSP Credit Management

DECEMBER 14, 2021

One of the numerous benefits of working across different industries in the debt collection industry is that you get to see the wide variety of different payment arrangements that are adopted by different companies, and sometimes entire sectors too. In other words for commercial transactions, or B2B deals?

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Emagia

AUGUST 23, 2023

Receivables are the sums that a company’s customers or clients owe it for items sold or services provided on credit. When a company grants a customer short-term credit, they record a receivable in their accounting system and send them an invoice to collect payment. It stands for the business’s right to get paid by its clients.

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Collenda

JANUARY 21, 2022

Aryza Holdings Limited (Aryza) has today announced it is accelerating its European roll-out through the acquisition of Collenda , a leading DACH and Benelux credit management software provider. Collenda provides an end-to-end integrated credit lifecycle platform for banks, corporates, and debt collection agencies.

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Due

APRIL 16, 2024

The best con artists are the ones who know exactly what they’re doing, whether it’s a debt collection, credit card phishing , or imposter scam. Collect all communication. Document your transactions. The scammer received a payment: Get in touch with your bank or credit card company as soon as possible.

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TreviPay

NOVEMBER 11, 2022

It’s a category rather than an industry, as B2B transactions occur across different business sectors. B2C transactions include everything from groceries to high-end luxury fashion. Most B2C payments take place on debit or credit cards. Collections. Collections in B2C could be a positive for B2C in many instances.

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Due

JULY 27, 2023

They also help individuals build credit responsibly. They have developed some innovative products to make credit affordable for their clients. This is a leading payroll connectivity API company that leading companies use for transactions. The company caters to over 60 million US citizens, ensuring affordable credit access.

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Fundera

JUNE 23, 2019

Choosing the right merchant services provider for your small business can make a world of difference when it comes to collecting payments and storing payment information. They can also help companies get credit card terminals, mobile payments, online shopping integration and more. dollar, Durango can help accommodate that.

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Fundera

AUGUST 3, 2019

When we talk about merchant services, we mean basically anything that your business needs to accept and process credit payments from your customers, which is pretty vital to your business. For the most part, those services will have to do with credit card processing and payments. . Additionally, you may qualify for free equipment. .

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Abrigo

NOVEMBER 22, 2021

Takeaway 3 Consumer compliance laws related to debt collection and preventing money laundering are also important for lenders. Major consumer loan compliance regulations cover everything from taking applications and approving or rejecting the credit to collecting payments and reporting to the government on various aspects of the loans.

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RMAi Blog

APRIL 12, 2023

The following bills of concern are a sample of the legislation that RMAI is currently engaging on behalf of the industry: California AB 1414 – This bill would exclude consumer credit accounts from the definition of “book account” which would force all litigation through a contract theory for litigation. NPAS, Inc. ,

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RMAi Blog

MARCH 14, 2023

This is a very expansive definition which would include medical debt charged on a credit card, including a bottle of Tylenol purchased from a grocery store. RMAI is strongly opposed to this bill and is working with our Colorado lobbyist and other industry trade associations to get an exemption for credit card debt.

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