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.

Indiana

DECA Financial Services, LLC Joins Fishers, IN, Chamber of Commerce

by insideARM.com May 20, 2013 (Be the first to respond)

DECA Financial Services, LLC, a nationally-licensed collection agency, recently announced that it has joined the Fishers, Indiana, Chamber of Commerce.

The motto of the local organization is “Connecting People for Success” and, according to its website, members of the Fishers Chamber “have a voice voice with other businesses in helping guide, promote and develop the economic and civic well-being of one of the fastest growing communities in Indiana.”

Consent

Florida Federal District Court Disregards FCC’s 2008 Ruling Regarding Consent

by David Kaminski May 20, 2013 9 Responses

So, where does this leave us and what does all of this mean? Clearly, the TCPA and the interpretation thereof are in flux. Creditors and debt collectors have come to rely upon the 2008 FCC ruling as a means in which to establish prior express consent under the TCPA. Mais now holds that neither a creditor nor a debt collector have consent to call a cell phone number via automated dialing equipment or to leave prerecorded messages under the TCPA merely by obtaining a phone number provided on a credit application.

Who What When Where Why

HOW, WHAT, WHERE, WHEN, WHO?: Process Serving and Collections

by Joel Rosenthal May 6, 2013 5 Responses

Put yourself in the shoes for a moment of a large national creditor. You spend millions of dollars a year reimbursing your legal network firms for process serving expenses but you are completely blind as to HOW, WHAT, WHERE, WHEN and best of all WHO are the process servers. You know that the FTC looked at process serving in 2009 and this February the head of the CFPB’s Enforcement Department uttered the words “process serving” as an area of interest in his speech at the DBA conference. You realize that you have to establish compliance standards for process serving but you really do not know much about process serving as you do not have any direct relationships with collection industry process servers.

Lie Detector

Whitepaper Examines CFPB Compliance, Speech Analytics

by insideARM.com April 30, 2013 (Be the first to respond)

We’re all familiar with the constant challenge: being able to maximize payments while staying compliant and up to date with new rules and regulations. A solution? Speech analytics, which can help ease this challenge by analyzing every agent contact – either during or after the call – to eliminate compliance risk, improve agent performance, and increase recovery rates. The folks [...]

checklist

Top Reasons Some ARM Companies Don’t Work with Debt Settlement Providers

by Jeff Dickey April 29, 2013 (Be the first to respond)

In each of the past two years, insideARM.com has conducted a survey of the ARM industry to better understand how these companies are utilizing debt settlement providers to increase collections. In each of these surveys, roughly 50% of survey respondents indicated that they now engage debt settlement providers as part of a strategy to locate collection accounts and increase collections through the use of these third party service providers. While this adoption is significant, still, roughly half of the firms responding to the surveys each of the past two years indicated that they still did not work with debt settlement companies as part of their collection strategy.

bbb-A+-rating

National Enterprise Systems Earns Top Rating from Better Business Bureau

by insideARM.com April 16, 2013 1 Response

National Enterprise Systems (NES) today announced that it has earned an A+ rating with the Better Business Bureau (BBB), the highest rating awarded by the Bureau. Upon learning of the company’s top BBB rating, Ernie Pollak, president of NES, said, “I am very excited to achieve an A+ rating. It has taken a lot of hard work and a tremendous amount of oversight in compliance and training. Investments in people and systems to support compliance with state and federal regulations are both costly and time consuming, but they are also the right business choices because they allow NES to best serve our clients and consumers.”

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