Accounts Receivable Management Feed Link

Accounts Receivable Management

Within a credit granting business, accounts receivable management (ARM) refers to policies and procedures for a company’s disposition of accounts receivable — or money owed on credit accounts — including measurements, aging, charge-offs, debt collection, and debt sales. ARM divisions increase the revenue of its parent company even though they are typically quite capital-intensive with state-of-the-art systems and extensive frontline staffing.

Accounts receivable management (ARM) can also refer to the industry that aids credit grantors in recovering debt before or after charge-off. This can include first and third party debt collection agencies, collection law firms, and debt buyers.

Amendment

Maine Changes Its State Fair Debt Collection Practices Act

Come October, Maine’s FDCPA language will be amended/updated via House Bill 753 (LD 1092). Specifically: These changes will be of especial interest to any agency collecting debt from consumers who reside in Maine. Per DBA International, Specifically, the new law: Requires written payment schedules or settlement agreements be provided to the consumer, Reaffirms the six year […]

Cardmember Services

FCC and Florida Team Up Against Fraudulent Telemarketers (Still No Official TCPA Word Yet)

The Federal Trade Commission and Florida’s Attorney General have joined forces to cease the operations of an “Orlando-based operation that has been bombarding consumers since 2011 with massive robocall campaigns designed to trick them into paying up-front for worthless credit card interest rate reduction programs.” And no, it’s not Disney.

Mergers

New Opportunities for ARM in the U.S. Insurance Market

The U.S. insurance market generated more than $2.2 billion in total revenue in 2014. This market is intriguing in the way that bad debt is not as critical to the success of ARM operations because there is such a high volume of billing, coding, claims processing and other non-bad debt collection services. It provides ARM companies diversification in industries served in addition to diversification in the type of collection and other outsourced services.

All Hands In

Culture Check: Does Your Company Have a Culture of Compliance?

Whether it is your hiring team checking backgrounds, your operations team making sure every call can pass the compliance test, your sales team vetting clients to ensure they aren’t asking for non-compliant activity, or, at the very head of the process, your Board of Directors setting policy and requiring compliance throughout your organization; everyone must be committed to compliance for it to truly be a culture.