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.

Days Sales Outstanding 195

Days Sales Outstanding Bad Debt DSO Default 195

RevCycle

SEPTEMBER 25, 2024

Hospitals are facing a growing threat to their bottom lines, namely payer requests for information (RFI’s). A study by Kodiak Solutions shows that the denial rate from initial RFI’s has increased by nearly 9% since 2022. The increase is not due to a decrease in data quality either, with Colleen Hall of Kodiak Solutions stating: “Our analysis suggests that health insurers are using RFI denials to simply slow down claims that they ultimately will pay, just to reap the benefits of paying more slowl

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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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Your Virtual Credit Manager

SEPTEMBER 24, 2024

Credit and collections management too often involves simultaneously handling multiple urgent tasks that demand immediate attention. It is more common to face sudden crises or fire drills than to have long, uninterrupted periods to work on important projects. This constant pressure is one of the greatest challenges executives with accounts receivable (AR) responsibilities face—navigating urgent issues while still keeping focused on the strategic goals that drive long-term success.

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Accounts Receivable (AR) Credit and Collections Credit Management Default 130

Abrigo

SEPTEMBER 25, 2024

Efficiently filing SBA loan packages for approval When an SBA lender is ready to submit loan guaranty packages and loan servicing requests, it does so through the SBA’s online portal, E-Tran. Would you like other articles like this in your inbox? Key Takeaways E-Tran is the SBA's loan submission platform. 7(a) and 504 loan programs both use E-Tran for managing loans.

Credit Unions 88

Credit Unions Credit Risk Credit and Collections Small Businesses 88

Due

SEPTEMBER 24, 2024

Given the rising costs of higher education, saving for college is a vital goal. However, it is just one piece of the larger financial puzzle you must navigate. Retirement, emergency funds, debt repayments, and other obligations also actively compete for your attention and resources. Achieving this delicate balancing act requires a deep understanding of how different objectives can coexist harmoniously within a comprehensive plan.

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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.

Debt Collections 81

Debt Collections 81

Abrigo

SEPTEMBER 23, 2024

Recent loan rate trends from Abrigo Connect Carefully monitoring interest rate trends for loans will help financial institutions remain competitive as rates drop. Would you like other articles like this in your inbox? Data for banks & credit unions Real-time pricing trends for loans Now that the Fed has lowerered interest rates , financial institutions will want to carefully monitor current loan interest rate trends in their markets to remain competitive as rates drop.

Credit Unions 88

Credit Unions Credit Risk Credit and Collections Small Businesses 88

Accounting Department

SEPTEMBER 26, 2024

Our team kicked off another year of EO events last week while attending EO Nerve. ADC Business Development Representative, Shawn Marcum, participated in the multi-day event in Atlanta, GA.

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RMAi Blog

SEPTEMBER 25, 2024

On September 24, 2024, Governor Gavin Newsom signed into law three consumer protection bills aimed at medical debt, commercial debt, and enforcement of money judgments. RMAI actively lobbied and were able to achieve amendments on all three bills. In the case of Senate Bill 1061, we were able to significantly narrow the scope of the term “medical debt” and withdrew our opposition.

Credit Reporting Agencies 130

Credit Reporting Agencies Medical Billing Debt Collections Credit and Collections 130

Enterprise Recovery

SEPTEMBER 24, 2024

With the announcement that the Federal Reserve cut interest rates by half a percentage point, inflation and interest rates are a primary news topic. If you own a small business, these economic fluctuations can have significant impacts. Understanding these cycles is vital to anticipate changes in the market and adjust business development strategies accordingly.

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Small Businesses 80

Abrigo

SEPTEMBER 24, 2024

When AI complements human decision-making Human oversight, often called a human-in-the-loop approach, remains important as AI increasingly enhances AML/CFT software. You might also like this checklist, "6 steps for compliance with the new AML/CFT program rules." DOWNLOAD Takeaway 1 A human-in-the-loop approach plays a vital role in ensuring that AI systems effectively support alert and case management for AML/CFT suspicious activity monitoring.

Transactions 78

Transactions 78

Credit Management Group UK

SEPTEMBER 24, 2024

We have recently introduced three new live online training courses. Our third one we would like to introduce is for anyone working in the Commercial Industry. There is currently and introductory offer of £99 + vat. Commercial Awareness Training Who will benefit? Anyone who would benefit for a greater understanding of contract law and how to practically apply it to their role and business to reduce risk and improve cashflow.

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Credit Management 76

Accounting Department

SEPTEMBER 24, 2024

Last week, Andrea and Mike of AccountingDepartment.com's Marketing Team, traveled to Boston for HubSpot's INBOUND show.

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Chaser

SEPTEMBER 23, 2024

I am thrilled to share that Chaser has been shortlisted for the AI in FinTech Award at The Global FinTech Awards 2024. In their inaugural ceremony, the Global FinTech Awards 2024 will be recognizing and celebrating innovative solutions in the financial services and fintech industries, honoring organizations that demonstrate exceptional creativity, technologically advancements, and industry leadership.

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Abrigo

SEPTEMBER 23, 2024

Critical practices for individuals and organizations to protect their data The National Public Data breach serves as a reminder to all of us that proactive measures are necessary to safeguard our personal information. You might also like this whitepaper: "Protecting banking customers starts with you." DOWNLOAD Takeaway 1 The National Public Data breach exposed over 2.7 billion records and is a reminder to be proactive when safeguarding your data.

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Cybersecurity Credit Unions Credit and Collections Default 78

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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Credit Scoring Default 52

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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Reorg Blog

SEPTEMBER 26, 2024

The post Star Entertainment Lenders Provide Commitment for Up to AUD 200M New Debt Facility at All-in Coupon of 13.50%; Co. Expects to Publish FY’24 Results on Sept. 26 appeared first on Reorg.

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Grit

SEPTEMBER 26, 2024

Black Friday is a pivotal moment for online retailers to amplify sales and attract new customers. In a competitive eCommerce environment, a dedicated Black Friday landing page can effectively highlight your exclusive deals and drive visitors to make a purchase. In this guide, we will show you how to create a high-converting landing page in BigCommerce, covering essential features, actionable steps, and real-world examples to help you succeed.

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CreditStrong for Business

SEPTEMBER 27, 2024

Acquiring a diverse set of tradelines is one of the primary steps of the credit-building process. As a result, you need to understand the term thoroughly if you want a good credit score. Here’s a comprehensive guide to everything you should know about consumer tradelines, including what they are, how they work, and why they matter. What Is a Tradeline and How Do They Work?

Credit Scoring 52

Credit Scoring Credit Reporting Agencies 52

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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Lendio

SEPTEMBER 25, 2024

Perhaps your restaurant has lines snaking out the door. Or your tax business has identified a prime market in another city. Or your medical practice has more patients than the available space can accommodate. Maybe you just have enough capital to support immediate business expansion. Scenarios like these certainly indicate that another location would be great.

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Small Businesses 52

Grit

SEPTEMBER 25, 2024

Thanksgiving is an ideal time to show appreciation to your customers. Sending Thanksgiving emails to customers is an important step to engage, build loyalty, and increase sales for your BigCommerce store. Let’s explore the benefits of sending these emails and best practices to follow when crafting them. Why Thanksgiving Emails Are Important for Your BigCommerce Store Thanksgiving presents a unique opportunity to connect with your audience before the busy holiday season.

Credit and Collections 52

Credit and Collections 52

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.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit Card Companies 52

Due

SEPTEMBER 26, 2024

Acadia Healthcare Company Inc. (Acadia) has agreed to settle a lengthy court battle and pay a $19.85m financial penalty after false Medicare and Medicaid claims. The monetary fine resolves allegations that Acadia knowingly violated the False Claims Act by billing federal healthcare programs for unnecessary inpatient behavioral care. Acadia Healthcare pay the price for False Claim breach Between 2014 and 2017, the Justice Department alleged that healthcare providers had submitted illicit claims f

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Reorg Blog

SEPTEMBER 25, 2024

The Monetary Authority of Singapore announced on Sept. 23 that it has directed Qoo10 Pte. Ltd., the parent entity of Qxpress, to suspend the provision of all payment services covered under the Payment Services Act 2019, or PS Act effective immediately.

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Grit

SEPTEMBER 24, 2024

Backorder processing can be a time-consuming and error-prone task for many businesses. However, this process can be streamlined and automated with the right tools and strategies. In this post, we’ll explore using the BackOrder app, a powerful automation solution, to simplify your backorders workflow. By following these steps, you’ll be able to reduce manual work, minimize errors, and improve customer satisfaction.

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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?

Credit Scoring 52

Credit Scoring Credit and Collections Credit Unions Transactions 52