Businesses can pay a heavy price for in-house debt collection operations. Regardless of the success rate, internal production costs of time, labor and collections technology divert critical resources towards indebted consumers and away from revenue growth. Companies with delinquent consumer accounts that aim to funnel all resources towards profitability may benefit from the services of…
The Payment Card Industry Security Standards Council was established in 2004 as an alignment of individual data security programs operated by Visa, MasterCard, American Express, Discover and JCB. The council developed the Payment Card Industry Data Security Standard (PCI DSS) to promote “cardholder data security and facilitate the broad adoption of consistent data security measures…
Backed by a sharp increase in consumer confidence, the retail industry continues to see a rise in sales and retail credit cards. In Q3 2016, retail cards reached 125.3 million among United States consumers, TransUnion research reported. As retailers benefit from the revenue produced by extending credit to customers, increasing vulnerability to retail credit card…
Most business-to-consumer operations possess an arsenal of action jargon, and debt collection agencies are no exception with their charge-offs, garnishments, scrubs and skip traces. In a perfect world, agencies are able to negotiate a fair settlement for clients so they don’t face revenue loss to account charge-offs and consumers aren’t subjected to wage garnishments. If…
Customers are the vital spark of business, providing the revenue that supports sustained success and growth. When customers fail to make full or partial payments on goods or services, it can adversely affect cash flow and hinder progress. Businesses that respond to unpaid charges with in-house receivable efforts often lose crucial time and profits because…
Commercial credit professionals from a wide variety of companies including credit and debt collection agencies will saddle in for another round of educational presentations, solutions-focused exhibits and business enhancing socials at NACM’s 121st Credit Congress and Expo. NACM welcomes individuals from across the nation and abroad, attracting professionals from wholesale distribution, food, construction and other…
The Healthcare Financial Management Association’s annual conference in 2017 (HFMA ANI 2017) will fast be upon us, taking place in Orlando, Florida on June 25 to June 28, 2017 at the Orange County Convention Center. ANI 2017 is the premiere healthcare finance event for strategies leading to better outcomes for patients, shareholders and stakeholders. With more…
Nearly three quarters of Americans are dying with debt according to statistics provided to Credit.com by the Experian’s FileOne database which includes 220 million consumer contacts or about 91% of US adults. The average balance for those without mortgages was $12, 875 while those owning homes died with $61,554 in debt. Data from October to…