RMAi Blog

OCTOBER 21, 2024

On Friday evening, October 18, 2024, ACA International and Independent Recovery Resources Inc. filed suit against New York City for declaratory and injunctive relief from the debt collection rule promulgated by the New York City Department of Consumer and Worker Protection (DCWP) on August 12, 2024. RMAI, the National Creditor’s Bar Association, and several other industry participants have contributed both financially and strategically to the efforts.

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Collector Debt Collections 130

Abrigo

OCTOBER 21, 2024

How financial institutions deal with problem loans Problem loans are a natural outcome of the risks banks and credit unions take when lending, and they should be expected over the long run during the ups and downs of the business cycle. In this guest column, Jason Alpert, Managing Partner of Castlebar Holdings , explains how financial institutions should respond.

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Credit Unions Default Credit and Collections Credit Risk 78

Your Virtual Credit Manager

OCTOBER 15, 2024

Companies are increasingly under duress, especially small and medium-sized businesses (SMBs). While profitability at the largest corporations has risen, it has been falling at firms with revenue below $1 billion. Roughly two-thirds of firms in this cohort are operating a breakeven or worse. While the Fed has finally loosened interest rates, the cost of commercial loans are expected to remain well above the levels experienced prior to the Covid pandemic.

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Chapter 11 Bad Debt Accounts Receivable (AR) Bankruptcy 130

TreviPay

OCTOBER 17, 2024

B2B buyers, much like their B2C counterparts, are driving higher expectations when it comes to the purchasing experience. At TreviPay’s Crossroads Conference, the “Buyer Perspectives” panel explored the shifts in B2B buying behaviors, emphasizing the importance of value, relationships and technology in today’s marketplace. Moderated by Piers Gorman , the discussion featured insights from Rosilyn Richey of Viking Cruises and James Norfor of b2buy.

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Due

OCTOBER 16, 2024

A Virginia-based contractor, Raytheon Company (Raytheon), is set to pay $950m for bribery, export control, and defective pricing cases brought forward by the Justice Department. Ratheon is a subsidiary of defense contracting company RTX, formerly known as Raytheon Technologies Corporation. The Justice Department has conducted extensive investigations into allegations that Ratheon was complicit in a government fraud scheme involving defective pricing on specific government contracts.

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RMAi Blog

OCTOBER 18, 2024

As Director of Business Development at National Credit Adjusters, LLC , my involvement with the Receivables Management Association International (RMAI) has been important to my career in receivables management and greatly beneficial to the success and continual improvement of our industry and collective industry organizations. It’s also been a valuable avenue for my personal and professional growth as an individual, providing the supportive and inspiring professional community and membership tha

Law Firms 130

Law Firms Credit and Collections 130

Abrigo

OCTOBER 18, 2024

Effective SAR narratives don't just happen Suspicious activity report writing is a skill that needs development. Effective SARs are created through conscious effort and diligence. Learn industry best practices for writing compelling SAR narratives to support your AML/CFT efforts. The importance of comprehensive SAR narrative writing Back in elementary school, most of us were taught that a good story includes the who, what, where, when, why, and how of the events it describes.

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Transactions 78

Accounting Department

OCTOBER 17, 2024

Imagine having access to top-tier financial expertise without the full-time cost. That's precisely what CFO Support Services offers. In today's fast-evolving business landscape, financial acumen is not just a luxury but a necessity for growth and sustainability. Entrepreneurs and small-to-medium business (SMB) owners often juggle multiple roles, and strategic financial management is frequently overlooked.

Small Businesses 79

Small Businesses 79

Enterprise Recovery

OCTOBER 21, 2024

Do you tense up every time you run your business's aging report ? Instead of feeling helpless about delinquent accounts, you can stay calm and take proactive steps to manage the situation. By adopting a strategic approach, you can implement practical solutions to increase your success at recovering outstanding payments. Tired of chasing overdue invoices?

Debt Collections 59

Debt Collections 59

biz2credit

OCTOBER 18, 2024

The last few weeks of storms have pounded states across the Atlantic including Florida, Georgia and the Carolinas, leaving millions scrambling for resources like SBA disaster loans and other funding. The post Disaster Recovery Resource for Small Businesses Impacted by Recent Hurricanes published first on.

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Small Businesses 64

Due

OCTOBER 21, 2024

Truist Bank, based in Charlotte, North Carolina, is set to pay $9M to resolve allegations it breached federal financial policies. According to a Justice Department case, the Civil Division’s Commercial Litigation Branch, Fraud Section, and the U.S. Attorney’s Office for the Northern District of Georgia settled the case in a collaborative effort. The $9 million sum will resolve the allegations that the bank breached the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA)

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Trust Companies 52

Grit

OCTOBER 21, 2024

Thanksgiving isn’t just about turkey and pie anymore! It’s a race for marketers to lock down the best strategies to boost holiday sales, and Thanksgiving email marketing can be your secret weapon. If you haven’t nailed down a killer email marketing plan for the day, you’re missing out on a golden opportunity to ramp up your sales and growth. But don’t worry, if you’re looking for email marketing tips or trying to level up your strategy for the following Thanksgiving, you’ve com

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Accounting Department

OCTOBER 15, 2024

Navigating the complex world of non-profit accounting can feel like a daunting task for many non-profit managers. The stakes are high as effective accounting not only keeps the organization compliant but also plays a crucial role in fulfilling its mission. For non-profits striving to maximize their impact, understanding and overcoming common accounting challenges is essential.

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Small Businesses 79

CreditStrong for Business

OCTOBER 18, 2024

The Intelliscore Plus credit score is a business credit score created by Experian, which is one of the major business and consumer credit bureaus. The newest version of the Intelliscore Plus has a range of 300 to 850, which aligns with most personal credit score ranges. But older versions, which are more commonly used by commercial lenders, range from 1 to 100, with a good score starting at 76.

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Credit Scoring Bankruptcy Credit and Collections Small Businesses 52

TMC Financing

OCTOBER 18, 2024

After more than three decades, FB County founder Tom Kim was ready to purchase commercial real estate for his innovative Los Angeles-based clothing and personal-goods company. “For a growing business. The post How SBA 504 Financing from TMC is Boosting FB County’s Bottom Line appeared first on TMC Financing.

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Due

OCTOBER 21, 2024

The information ecosystem of the stock market is rapidly changing as digital adoption becomes more widespread, and more individuals can leverage innovative tools to participate in public market trading and investing. In the past, investing and stock market trading were reserved for a select group of seasoned professionals. However, technology, and perhaps more importantly, social media has helped to remove these entry barriers, allowing everyday individuals unrestricted access to many investing

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Grit

OCTOBER 19, 2024

Imagine that your products are flying off the shelves so fast, you can barely keep up with the demand. What do you do? Stop selling and leave your customers hanging? No way! That would just push those loyal customers straight into your competitors’ arms, and you’d be kissing them goodbye. To keep that from happening, just use something called backorder , which also is called a company’s backlog A backorder occurs when an item or service can’t be fulfilled at the moment due to a short

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Reorg Blog

OCTOBER 18, 2024

The Second Circuit affirmed district court and bankruptcy court rulings dismissing fraudulent transfer claims because the transaction in question qualified for the Bankruptcy Code’s safe harbor for securities contract transactions.

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Bankruptcy Transactions 52

CreditStrong for Business

OCTOBER 18, 2024

One of the most often-repeated bits of business wisdom is that it takes money to make money. While that’s not a hard and fast rule, it’s safe to say that having some extra cash available improves your chances of starting and running a successful business. Fortunately, your startup capital doesn’t have to come from your own bank account. You can get funding from countless external sources.

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Credit Unions Small Businesses Credit Scoring Transactions 52

Credibly

OCTOBER 17, 2024

Table of Contents Top-line vs. bottom-line revenue: The big picture. How to calculate top-line revenue vs. bottom-line revenue The difference between top-line and bottom-line growth Tips to grow your top-line revenue How to grow your bottom-line revenue The right financing can help your business grow.  When it comes to understanding your business’s financial health, two key metrics often take center stage: the top line and the bottom line.

Deductions 52

Deductions Small Businesses 52

Due

OCTOBER 21, 2024

If you are investing, staying informed about the latest trends and changes in the market is crucial. One such significant change is the expected reduction in the return on certain investments by 47% over the next year. This article aims to provide an in-depth understanding of this situation and guide navigating this financial landscape. The current state of investments Many investors have money in Money Markets, Treasury bills (T-bills), Certificates of Deposit (CDs), or high-yield savings accou

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Grit

OCTOBER 18, 2024

Today, we’re going to dive into Salesforce integration challenges for BigCommerce stores. BigCommerce and Salesforce, no doubt, are two big names in the eCommerce world. BigCommerce is a leading platform that empowers businesses to create online stores and manage everything from sales to inventory to customer data. Salesforce is the CRM software that helps companies handle customer interactions and streamline their sales processes.

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Reorg Blog

OCTOBER 18, 2024

Legal Research: Josh Neifeld Relevant Document: Summary Order On Sept. 19, the U.S. Court of Appeals for the Second Circuit issued a summary order in the case of Holliday v. Credit Suisse, a $720 million fraudulent transfer suit that arose from Boston Generating’s 2010 bankruptcy.

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Bankruptcy 52

CreditStrong for Business

OCTOBER 18, 2024

The North American Industry Classification System (NAICS) organizes businesses into groups based on their offerings and activities by assigning them six-digit codes. Lenders often use these NAICS codes to gauge businesses’ risk factors. As a result, they can have a significant impact on your chances of qualifying for funding. Here’s what you should know about these codes, including which ones lenders consider high-risk NAICS codes, how they affect your ability to get financing, and what you can

Electronic Funds Transfer 52

Electronic Funds Transfer Credit Scoring Credit and Collections Credit Unions 52

TreviPay

OCTOBER 17, 2024

In business, “Net 30” is a common payment term. It helps manage cash flow and build good relationships between buyers and sellers. Knowing how to manage these terms can significantly impact a company’s financial health. Definition of Net 30 Net 30 payment terms refer to a payment term used in business transactions. Net 30 is where the buyer agrees to pay for goods or services within 30 days of the invoice date.

Credit and Collections 52

Credit and Collections Transactions Credit Risk Credit Management 52

Due

OCTOBER 19, 2024

Life can be really hectic at times, and it can feel impossible to prepare a healthy meal between work, errands, and social commitments. There is some good news for you, though. If your pantry is well stocked, meal preparation and cooking stress can be reduced. Despite some scoffing, non-perishable foods offer an excellent alternative to frequent trips to the grocery store for quick, nutritious meals.

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Grit

OCTOBER 17, 2024

Buy Online, Pick Up In-store (BOPIS), aka click and collect, is a game-changer for retailers looking to boost foot traffic and seamlessly blend their online and offline experiences. This option gives retailers the power to merge the convenience of online shopping with the personal touch of in-store visits. It’s a win-win, drawing customers in while making their shopping experience smoother.

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Emagia

OCTOBER 17, 2024

According to The Hackett Group, generative AI has transformative potential in finance. It emphasizes that Generative AI can significantly enhance productivity and reduce operational costs. According to their research, generative AI can increase staff productivity by up to 44% and reduce finance process costs by 42%, offering finance leaders an opportunity to streamline operations and optimize workflows.

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Order to Cash Transactions 52

CreditStrong for Business

OCTOBER 18, 2024

A small business owner can’t always get away with using their personal credit score to demonstrate their creditworthiness. Vendors and lenders also often consider business credit scores, including the popular Dun & Bradstreet PAYDEX Score. If you’re a business owner, here’s what you need to know about your PAYDEX Score, including what behaviors affect it, when and how others use it, and what qualifies as a good one.

Credit Scoring 52

Credit Scoring Transactions Insurance Companies Small Businesses 52

TreviPay

OCTOBER 17, 2024

Understanding your financing options is crucial for any business looking to grow and succeed. Among these options, debt financing and equity financing stand out as two primary methods. This blog looks at their definitions, key differences, and the pros and cons of each. This will help you make better decisions for your business. Definition of Debt Financing Debt financing involves borrowing money that must be repaid with interest.

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Credit Scoring Deductions Credit Risk 52