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Articles in "Show Me The Money"
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Five Ways To Improve Your Collections, Keep Your Customers (posted 10/24/11)
The title of this article may contradict everything you’ve heard about collections and getting customers to pay on time, but there is a way to keep your customers even after the collection process.
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For Consumers, Debt Collection No Longer Has To Be So Frightening (posted 10/24/11)
We live in a credit-driven economy. When consumers purchase a home, an automobile or go on vacation they will likely use some form of credit as payment.
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Technology Can Help Institutions Protect Their Income In Collections Efforts (posted 10/24/11)
Economic conditions, un- and under-employment, failed financial institutions and regulatory responses to all these issues have conspired to help boost delinquency and charged-off account growth, exasperating compliance and income challenges for today’s financial institutions. Compliance risk has also grown significantly due to recent trends and actions.
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Breaking Consumer Debt Cycle Can Boost Struggling Industries And Economy (posted 10/24/11)
Driven by the poor economy, consumer debt continues to rise, growing 3.4 percent in just the past six months, according to a Federal Reserve report. While unpaid debt is a problem for individuals, it also creates a drag on businesses from Main Street to Wall Street, including banks, other financial institutions and the real estate industry.
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Preventive Measures Help Avert Bad Debt Write-Offs (posted 10/24/11)
The most indispensable method for a business to avoid a customer’s account becoming a bad debt is to extend credit, from the outset, which maximizes payment security and recourse should the customer default. All too often, clients contact our office to institute legal action to collect a debt obligation with few safeguards in place to facilitate recovery.
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Bankruptcy Reaffirmation Agreements And The Death Of The ‘Ride-Through’ (posted 10/24/11)
The U.S. Bankruptcy Code provides lenders with powerful tools for protecting their rights in secured property. One such device is the “reaffirmation agreement,” a new contract between a secured lender and a Chapter 7 consumer debtor which permits the debtor to reaffirm its debt if it wishes to retain possession of the collateral.