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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.

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A Lot Going on at JJL Process

JJL Process, a technology and compliance leader in the process serving industry, has had a lot going on recently and a lot more planned. Scott Levine, President of JJL Process, commented that “we have had an unbelievable period of innovation and expansion in 2014 at the fastest pace in the company’s history.” The highlights are […]

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Washington Lawsuit Scrutinizes Use of Prosecutor’s Seal on Debt Collection Letters

A federal class action lawsuit in Seattle alleges that a collection agency used the King County prosecutor’s seals on debt collection letters to consumers, while failing to disclose that the letter was from a collection agency and not a law enforcement office. The plaintiffs say they received seemingly official letters from Missouri-based collection agency Bounceback which included threats of jail time if consumers didn’t pay the amount of the debt and more than $180 in fees. Bounceback was able to use the county prosecutor’s seal on these collection letters because it participates in a “check enforcement program,” where county prosecutors rent out the prosecutor’s seal and letterhead in exchange for a cut of the collection fees.

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UPDATE: NY Debt Collector’s Operations Shuttered After Joint FTC, NY AG Complaint

The U.S. District Court for the Western District of New York issued a temporary restraining order and asset freeze against a Buffalo, NY-based debt collection operation Monday, after the Federal Trade Commission and New York Attorney General’s Office filed a joint complaint alleging the operation used lies and threats against consumers in violation of federal and state laws.

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Ohio AG Accused of Giving Debt Collection Contracts to Donors

An investigation conducted by the Dayton Daily News alleges that Ohio Attorney General Mike DeWine awarded state debt collection contracts to a friend’s collection agency and companies that donated the most money to his political campaign and the GOP, turning down more experienced vendors in the process. DeWine has denied the claim that those with political […]