According to an article by Federal Reserve Bank Philadelphia, auto loan debt is now the third-largest debt category after mortgages and student loans. The first quarter of 2023 saw a $10 billion increase in auto loans, bringing the total to $1.56 trillion. With the...
Every business owner juggles incoming and outgoing cash flow. However, the challenge often extends to handling funds that are due but not yet received from customers, known as accounts receivable. The status of accounts receivable as an asset often raises questions....
Managing the lifeblood of any business—cash flow—requires a thorough understanding and robust control over accounts receivable management. Despite its crucial nature, many organizations find it challenging to implement effective receivables management due to its...
Understanding how debt collections work is crucial for both creditors and debtors. This process helps businesses recover unpaid debts and ensures financial stability. Let’s explore the different stages involved in debt collection. Collections or debt collections...
Portfolio recovery is the business of purchasing delinquent debt and then attempting to collect the money from the original debtor. Companies involved in portfolio recovery are known as debt buyers. Portfolio recovery companies acquire large volumes of unpaid...
Accounts receivable and accounts payable ensure the flow of funds into a business for running operations successfully with profit. This makes it important for businesses to stay on top of payables and receivables to manage their cash flow efficiently. Proper...
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