7 Key Mistakes to Avoid in Delinquent Payment Collection
More than 73 million Americans currently have debt in collections. This staggering statistic highlights the importance of effective debt collection practices for delinquent payments. For lenders managing their own debt collection, your role is critical in recovering...
What is a Subprime Credit Score? A Detailed Overview
Subprime credit scores are typically a reflection of financial struggles and play a crucial role in determining an individual’s ability to access credit. These scores, often below a score of 670, can lead to higher interest rates and limited borrowing...
5 Key Steps in the Debt Collection Process
When appealed claim denials are overturned, it highlights errors in the initial collection process that can result in significant financial losses. Debt collection is a complex and vital process that directly impacts a business’s cash flow. When not executed properly,...
Essential Steps for Forecasting Accounts Receivable
Accounts receivable is the lifeblood of a business’s cash flow. According to Forbes, 39% of all the invoices sent are paid late in the United States. Without a proper accounts receivable process in place, business owners will be repeatedly facing cash flow...
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