A recent Forbes Advisor article reports that late auto payments have reached their highest level since the 1990s, with borrower defaults on auto loans at a 27-year peak. In this competitive automotive landscape, managing delinquent auto loans is a critical challenge...
According to data from the Federal Reserve Bank of New York, credit card debt has increased by $27 billion over the past year, reaching a total of $1.14 trillion. The increasing credit card debt presents a significant opportunity for lenders to offer innovative debt...
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...
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...
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,...
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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