How Do Lenders Handle Delinquent Loans?

How Do Lenders Handle Delinquent Loans?

The Federal Reserve Bank of New York reports that the rate of credit card and auto loan delinquencies continues to increase, surpassing pre-pandemic levels. When a borrower misses a payment on a loan, mortgage, or credit card, it can trigger the delinquency process....
10 Common Mistakes to Avoid During Debt Collection

10 Common Mistakes to Avoid During Debt Collection

Debt collection is one of the most important and trickiest processes that impact the cash flow of a business. When not done properly, debt collection can have financial repercussions and reputational damage. With a process this important and intricate, mistakes can...
Top 5 Benefits of Business Process Outsourcing

Top 5 Benefits of Business Process Outsourcing

Business process outsourcing (BPO) is the practice of contracting with an external company to handle specific business functions or activities.  Essentially, you hire a specialist outside your organization to take care of certain tasks, allowing you to focus on...