RMAi Blog

APRIL 7, 2023

Unexpected financial emergencies can happen to anyone, from a random medical bill to car problems and anything in-between. Unplanned expenses seem to come at the worst times, but having a savings in place for when they happen can help. Having an emergency fund is essential to preparing for the unexpected and lessening the financial shock. In its essential guide to building an emergency fund , the Consumer Financial Protection Bureau (CFPB) says that people who struggle to recover from financial

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APRIL 2, 2023

If you lived through the 2008 recession, you know how painful recessions can be. Even if you didn’t personally lose your job or home, you likely knew more than one person who did. The effects of that recession lasted long after the period was declared over. Many Millennials cite its knock-on effects as the reason they haven’t purchased a home or started a family, even to this day.

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Your Virtual Credit Manager

APRIL 4, 2023

With a growing number of experts predicting a recession to hit later this year, and inflation and interest rates remaining at elevated levels, squeezing every dollar out of your investment in Accounts Receivable (AR) is more important than ever. You don’t want anything that causes friction in your cash conversion cycle, and that requires maintaining a clean AR ledger.

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

Loomis Sayles Credit Research

APRIL 6, 2023

State governments tend to boast strong creditworthiness. They have a multitude of revenue streams, the ability to adjust budgets on the fly, and tend to have broad economies. These factors contribute to the sector’s generally high credit quality, with only seven states rated below AA. However, we expect the slowing economy to reveal imbalances that could affect credit quality and lead to diverging performance within the sector.

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RMAi Blog

APRIL 6, 2023

Last week, RMAI submitted Comments to the Consumer Financial Protection Bureau (CFPB or Bureau) in response to the CFPB’s request for comments concerning a proposed rule to require certain nonbank entities to register with the Bureau when subject to a public written order (such as a consent order) or a judgment. The online registry and the contents of the written orders would be publicly accessible.

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APRIL 4, 2023

When you get down to basics, financial planning is simply the process of setting financial goals and creating a plan for how you’ll meet those goals. That seems innocuous enough but it can admittedly get a little complex, and sometimes overwhelming. Yet short of a winning lottery ticket or an unexpected inheritance, it’s virtually impossible to improve your financial situation without planning.

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Credit Scoring 105

Chaser

APRIL 4, 2023

In addition to the challenges posed by the pandemic-related supply chain issues and economic uncertainty, businesses in the construction sector are facing significant cash flow concerns. Compounding these challenges is the ongoing struggle against late payment or non-payment of invoices.

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RMAi Blog

APRIL 4, 2023

[Henderson, Nevada] 2023 – EverChain , the consumer-centric Recovery Management Solution (RMS) for consumer lenders and creditors, announced that it has patented Universal Due Diligence (UDD), a compliance management system that allows for Sellers, Buyers, and Agencies to submit for certification, submit for recertification, update, and confirm due diligence documents.

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Bankruptcy Credit and Collections Default 100

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APRIL 5, 2023

On March 22, 2023, the Federal Reserve raised the target fed funds rate from 4.75 to 5.00%. This marked a 475 bps increase in interest rates since March 2022. With the Fed’s next planned meeting scheduled for May 2023, many are wondering if the Fed will continue the trend of aggressive rate hikes, keep rates stable, or begin lowering rates. Higher interest rates can have undesirable consequences, including costlier borrowing and an uptick in unemployment.

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incfile

APRIL 3, 2023

Many small business owners looking for alternatives to forming an LLC often come across DBAs (“Doing Business As”), also known as a fictitious business name or trade name. While a DBA may be right for your business, it's important to understand how they work and when to use them.

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TMC Financing

APRIL 3, 2023

Las Vegas, Nevada – Connected Communications, a Las Vegas-based public relations and marketing agency, recently purchased a 2,000-square-foot property to accommodate their growing firm and stabilize occupancy costs. The post TMC Financing Facilitates Expansion of Public Relations & Marketing Firm through SBA 504 Loan Program appeared first on TMC Financing.

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RMAi Blog

APRIL 4, 2023

PHOENIX, AZ – After nearly two years, Superlative RM , a collection agency with locations in Phoenix, AZ and Elk Grove, CA, is celebrating a recent victory in the United States District Court for the Northern District of Illinois Eastern Division. On June 16, 2021, the plaintiff, through her counsel, filed a class action lawsuit against Superlative RM and an investment group for a Hunstein styled ‘copy-cat’ case.

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Collector Debt Collections 100

Plooto

APRIL 3, 2023

More money doesn't have to mean more problems , if you track business expenses accurately. Keeping track of your spending can help you make smarter decisions, stay on top of cash flow , and maximize profits – a big win for all small business owners. However, many people struggle to properly manage business expenses due to a lack of knowledge, time or resources.

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Small Businesses 98

FICO Blog

APRIL 3, 2023

Home Blog FICO Advancing the Science of Optimization: FICO & Zuse Institute Berlin FICO partners with Zuse Institute Berlin on critical research into mathematical optimization FICO Admin Tue, 02/18/2020 - 14:57 by Oliver Bastert Vice President, Product Management expand_less Back To Top Mon, 04/03/2023 - 11:45 As a result of the pandemic, interest in mathematical optimization has risen to new heights.

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Credit Management Group UK

APRIL 4, 2023

As previously employed as a Credit Manager by a national recruitment company and working for many recruitment firms since setting up CMG UK, I have a vast amount of experience the recruitment sector. Our case studies – How to help recruitment firms get paid when a client employs a candidate directly. Backdoor hiring The Company- International professional services firm operating in property and construction sectors The role – Cost Consultant/ Project Manager Our client was an approved supplier

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Credit Management 97

Chaser

APRIL 6, 2023

Cash flow is one of the most vital contributors to the survival of any business. In fact, 82% of companies cited a failure to obtain consistent cash flow as the primary reason for their failure.

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Abrigo

APRIL 7, 2023

Making a case for greater efficiency Loan review automation eliminates manual processes, saving time and reducing human error. Here's what to say when presenting a case for software at your institution. You might also like this whitepaper: "2022 Loan Review Benchmark Survey Results." DOWNLOAD Takeaway 1 Loan review automation can help reduce or eliminate common efficiency problems that financial institutions face.

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Due

APRIL 1, 2023

Launching a new business venture is a giant leap, even in the best of times. Variables, increased costs and a new responsibility as an owner are all big shifts, and the unpredictability of th economy makes them even more challenging. “Recession” strikes fear in the hearts of many, as a downturn can stifle the job market and money flowing through infrastructure.

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Bankruptcy Credit and Collections Small Businesses 90

Accounting Department

APRIL 4, 2023

Cash flow is the lifeblood of any business, and managing it properly is crucial for success. While many businesses focus on generating revenue, it's equally important to maintain positive cash flow to ensure that operations can continue smoothly. In this article, we'll discuss some cash flow best practices that businesses should consider implementing to be more successful.

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Small Businesses 80

incfile

APRIL 3, 2023

If you're like other new business owners, you might be wondering — should you form an LLC or sole proprietorship?

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Enterprise Recovery

APRIL 7, 2023

Every industry has its own share of jargon, acronyms, and special terms. There's a level of trust that's gained when a business partner understands your industry or "speaks your language." When companies seek out debt collection agencies that they can trust, they also want to work with those who understand their industry. When a debt collections agency speaks your language, B2B account recovery can be more successful.

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Debt Collections 67

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APRIL 3, 2023

Over the holidays, I gave my parents a gift card to a local Mexican restaurant. I didn’t expect them to use it right away. But, I was floored when they told me that the gift card is somewhere in their home. Good grief. Hopefully, they’ll find the gift card soon. Why? Because just like any perishable items in your fridge, gift cards also expire.

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Accounting Department

APRIL 6, 2023

Supply chain management deals with areas of procurement, operations, logistics, marketing channels, and more so that businesses can simply operate and deliver within their industry. For companies of all sizes, an enterprise resource planning (ERP) system like NetSuite will help with efficiently managing supply chain activities that turn raw materials into finished products for its customers.

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Small Businesses 76

CreditStrong for Business

APRIL 4, 2023

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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Credit Scoring Default 59

Reorg Blog

APRIL 3, 2023

The post Pittsburgh Challenges Nonprofit Property Tax Exemptions in Wake of Tower Health Rulings; UPMC Among Targets Ahead of Next Week’s $1.37B Bond Sale appeared first on Reorg.

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APRIL 7, 2023

Easter is celebrated by about 80% of Americans, and the average person spends $170 on it for Easter parties, Easter eggs, and other things. Despite being a fun time to celebrate Easter with family, friends, and little ones, it can be quite expensive. After all, buying new clothes, decorations, gifts, and candy can add up quickly. However, you can still enjoy your Easter holiday despite these expenses.

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Credit and Collections 64

FundThrough

APRIL 7, 2023

When reviewing different types of financing options, it’s easy for a small business to wonder if invoice factoring is really worth it. (In case you’re new to invoice factoring, this is when a factoring company gives you funding for unpaid invoices ahead of net terms, and the waits for customer payments.) Sure, it’s faster than […] The post Is Invoice Factoring Worth It?

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Small Businesses 52

CreditStrong for Business

APRIL 3, 2023

The Department of Veterans Affairs (VA) offers many benefits to military service members. Prominent among them is the VA home loan, which is one of the ways the department promotes homeownership among veterans and their families. VA loans have advantages over other mortgage types, including a 0% down payment loan option with no mortgage insurance premium.

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Credit Scoring Chapter 7 Bankruptcy Default 59

The Red Spectrum

APRIL 7, 2023

Net 30 vendors play a critical role in the success of any business’s online presence. Whether you are starting a new venture or looking to upgrade an existing website, selecting the right net 30 vendors is essential to creating a successful online platform. However, with so many new vendors in the market, choosing the right one that fits your business needs can take time and effort.

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Due

APRIL 6, 2023

If you’re living in a time of rising inflation, you may hear about the Federal Reserve (or the Fed, for short) increasing interest rates. Inflation is essentially the devaluing of currency over time. If inflation happens too rapidly, people’s purchasing power decreases, and less money circulates into the economy. Key takeaways A recession is when the economy experiences negative GDP growth and a slowdown in other areas.

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