How To Create a Credit Policy and Past Due Collection Procedure

How To Create a Credit Policy and Past Due Collection Procedure

Share this Article To ensure a successful transaction from start to finish, each department in your company should have a playbook to outline the basics. The department responsible for payment collection – whether it’s called billing, invoicing, collection or, most often, accounts receivable – is no exception.  Providing this direction to your employees is essential. A policy manual outlines the …

PDCflow Releases Enhanced Recurring Payment Feature

PDCflow Releases Enhanced Recurring Payment Feature

Share this Article Ogden, Utah – Accounts receivable management software PDCflow has officially released the upgraded recurring payment feature of their new user interface. The enhanced recurring payment module will provide clients greater flexibility setting up consumer payment schedules.  The improved recurring payment system was created after careful consideration for the schedule creation and maintenance needs of ARM professionals. Dynamic …

What You Should Know About Submitting a Comment to the CFPB’s Notice of Proposed Rule for Debt Collection: A Step-by-Step Guide

What You Should Know About Submitting a Comment to the CFPB

Share this Article Reprinted from Clark Hill with permission from Joann Needleman The Consumer Financial Protection Bureau’s (CFPB or Bureau) Notice of Proposed Rule (NPR) is a dense 500-page document. In the NPR, the CFPB puts forth numerous proposals which seek to clarify numerous debt collection processes that span from communicating with consumers to providing a new validation form. Many …

Who Is PDCflow? Meet Jacob Smith

Who Is PDCflow? Meet Jacob Smith

Share this Article Every employee at PDCflow is willing to tackle tasks that may not typically land within their job description. After all, that’s what being a team is all about. But today’s interview highlights someone with perhaps the most unique position in the company. He does so much more than his job title implies. Who is PDCflow? Meet Research …

What Creditors Should Understand About the Proposed Debt Collection Rule

What Creditors Should Understand About the Proposed Debt Collection Rule

Share this Article The Consumer Financial Protection Bureau (CFPB) recently released their Notice of Proposed Rulemaking (NPR) for the debt collection industry. Even if creditors have heard about this news, not all are likely to have read the hefty document. However, if your business or department handles AR billing, there are elements of the new proposed rule that will impact …

Accounts Receivable Management Definitions

Accounts Receivable Management Definitions

Share this Article Managing the money customers owe your business is a vital – often overlooked – part of maintaining a healthy business. If your accounts receivable (or billing) department could use some attention, start with the basics. Here’s a glossary of accounts receivable management terms every AR billing professional should know. Accounts receivable is the unpaid funds owed to …

Preparing Staff for Electronic Communication Under the CFPB Proposed Rule

Preparing Staff for Electronic Communication Under the CFPB Proposed Rule

Share this Article Industry experts are certain electronic communication will play a part in the final CFPB debt collection rule once it is created. This means agencies will be given clearer guidelines on how text messages and emails can be used for communication with consumers. Sending communications through electronic channels offers consumers more choice in how they can resolve their …

How To Prevent Data Breaches: Three Steps

How To Prevent Data Breaches: Three Steps

Share this Article Data breaches have been in the news for several years. One thing we can learn from companies like Equifax to the massive Marriott data breach is that no company is immune if they don’t protect themselves properly. The accounts receivable industry is no exception. News outlets throughout the industry recently reported a breach of sensitive consumer data …

Call Blocking and Right Party Contact in Debt Collection

Call Blocking and Right Party Contact in Debt Collection

Share this Article This blog post is based on information discussed in a recent California Association of Collectors (CAC) webinar and was co-authored by Neustar. Spam tagging and call blocking are causing a huge problem in debt collections. In the last two years, collection agencies have seen a drastic increase in their legitimate calls being blocked or mislabeled with Spam …

CFPB Proposed New Rule: Debt Collector Do’s and Don’ts

CFPB Proposed New Rule: Debt Collector Do’s and Don’ts

Share this Article For debt collectors, the CFPB’s notice of proposed rule (NPR) is becoming the embodiment of the phrase “hurry up and wait.” The Bureau’s proposed rule released in early May. Once it became public, the reaction from many experts was appreciation for the level of detail in the 500+ page document. Weeks after the release of the rules, …