Credit Research Foundation

SEPTEMBER 27, 2024

It’s been 16 years since the last major economic downturn – the banking crisis that started in 2007 and was in full impact mode from 2008 through 2010. During that period, the U.S. economy shed over 8.7 million jobs, and the unemployment rate peaked at 10% in October 2009. Since then, we’ve weathered the COVID-19 pandemic, which many experts predicted would lead to a wave of defaults and business closures.

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Days Sales Outstanding Bad Debt DSO Default 195

RMAi Blog

SEPTEMBER 27, 2024

RMAI extends its thoughts of support to all of those affected by Hurricane Helene. RMAI recommends all members temporarily suspend collection calls and communications to consumers in the portions of southeast who are directly affected by this emergency. Information on the effect of Hurricane Helene from some of the states directly impacted are listed below.

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Enterprise Recovery

SEPTEMBER 27, 2024

Building trust is paramount in the debt recovery process, and communication is the foundation of trust. Clients are more likely to cooperate and engage positively when informed about the collections process and their options. Clear and honest communication helps to demystify the debt recovery process, reducing any anxiety or confusion the client may have.

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Debt Collections 81

Grit

SEPTEMBER 27, 2024

Retailers and shoppers are gearing up as Black Friday approaches, and for BigCommerce store owners, the countdown to this massive shopping event is key to boosting traffic and sales. Black Friday is all about incredible deals, and much of the action has shifted online recently. In 2020, despite supply chain disruptions, 49% of orders were placed on desktops, with 43% coming from smartphones — highlighting the growing importance of mobile shopping.

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CreditStrong for Business

SEPTEMBER 27, 2024

If you put down less than 20% on a conventional home loan, your lender will charge you private mortgage insurance (PMI) in addition to the principal and interest portions of your mortgage payment. It protects them if you ever default. If you take out an FHA loan, you have to pay a mortgage insurance premium (MIP) regardless of your down payment size.

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Due

SEPTEMBER 27, 2024

Investing in the stock market is a labyrinthine journey that demands a profound comprehension of financial markets, economic trends, and the performance of individual companies. It’s a game of strategy, patience, and knowledge. Yet, there’s a common misconception among investors that purchasing individual stocks is a guaranteed path to profit.

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Due

SEPTEMBER 27, 2024

Are you struggling to save money ? You’re not alone. According to Bankrate polling, 27% of U.S. adults had no emergency savings in 2024. This is the highest percentage since Bankrate asked the question in 2020. But what if there was a way to make saving fun and engaging ? Enter the 200-envelope challenge. This popular method makes saving more enjoyable by gamifying it.

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CreditStrong for Business

SEPTEMBER 27, 2024

Tradelines are any credit accounts that show on your credit report. These include personal loans, auto loans, credit cards, mortgages, and more. Adding tradelines to your credit history could create a credit score increase of 20 to 100 points. It does this by affecting credit score factors like your payment history, credit utilization, and length of credit history.

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Chaser

SEPTEMBER 27, 2024

Track your invoices, payments, debtors easily with this free-to-download excel template. Find out what data is essential for an effective payments tracker.

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CreditStrong for Business

SEPTEMBER 27, 2024

Sole proprietorships are the default legal structure for companies with a single small business owner. You don’t need to fill out any paperwork or pay any fees to establish them, as they’re not considered separate entities from their owners. However, that raises the question, do sole proprietors need a business bank account to keep their funds distinct?

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Credit Scoring Credit and Collections Credit Unions Transactions 52

Reorg Blog

SEPTEMBER 27, 2024

The post NJ Bankruptcy Court Says SDTX Should Decide Venue of Red River Talc Case; ‘Good Luck in Texas’ appeared first on Reorg.

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CreditStrong for Business

SEPTEMBER 27, 2024

It’s not every day you recognize an excellent business opportunity in the form of acquiring another business. When you come across this chance to own a profitable business or expand your company, you have to strike while the iron is hot! But what if you don’t have the capital on hand to make it happen? That’s what business acquisition loans are for.

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Credit Scoring Credit Unions Small Businesses 52

Reorg Blog

SEPTEMBER 27, 2024

Vertex Energy and several affiliates filed chapter 11 with an RSA and plan of reorganization supported by 100% of term lenders.

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CreditStrong for Business

SEPTEMBER 27, 2024

Common advice for entrepreneurs is to keep business and personal finances separate. That becomes difficult to do when every business loan or credit line requires a personal guarantee. To keep your personal assets out of business affairs, it’s best to go for business loans and lines of credit that don’t have a personal guarantee. However, those are few and far between.

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GoCardless

SEPTEMBER 27, 2024

Reflecting on the GoCardless JustGiving Awards 2024.

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CreditStrong for Business

SEPTEMBER 27, 2024

The PAYDEX® Score is a business credit score developed by Dun & Bradstreet. Lenders, vendors, investors, and others may check your company’s PAYDEX Score to evaluate risk and decide whether they wish to work with you. Your business’s PAYDEX Score could impact whether your business can obtain financing, attract investors, and more. As a result, it’s important to understand how this business credit scoring model works, and how to build good business credit for your company.

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CreditStrong for Business

SEPTEMBER 27, 2024

One of the first decisions every business owner must make is which type of legal entity they’ll use to conduct their business. Limited liability companies (LLC) and sole proprietorships are two of the most popular options for small business owners. Here’s what you should know about LLCs and sole proprietorships to determine which is best for your situation, including how they work, their advantages and disadvantages, and their most significant differences.

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CreditStrong for Business

SEPTEMBER 27, 2024

The Federal Housing Administration (FHA) is a government agency created to stimulate the housing industry and make homeownership more accessible. One of the primary ways it accomplishes those goals is to insure mortgages for approved lenders. When an FHA borrower defaults, the lender can claim a significant portion of the unpaid principal balance from the government agency.

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CreditStrong for Business

SEPTEMBER 27, 2024

FHA and conventional loans are two of the most popular financing options for would-be homebuyers. However, there are significant enough differences between the two that one is often a noticeably superior option for an individual’s circumstances. Here’s what you should understand about the FHA vs. conventional loan programs to determine which one makes the most sense for you, including their qualification requirements, potential costs, and financing limitations.

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