Credit card debt is the third leading cause of debt collection complaints according to Consumer Financial Protection Bureau. This is concerning for lenders as more complaints indicate delayed debt recovery. It could lead to reduced fund inflow which negatively...
According to Statista, consumers are increasingly searching for business process outsourcing companies that provide various services, especially back-office operations. Back-office outsourcing refers to the practice of contracting a third-party company to handle the...
Auto loan delinquencies in the United States are on the rise, reaching levels not seen in over a decade. Recent data from the Federal Reserve Bank of New York indicates that 7.7% of car loans transitioned into delinquency in the fourth quarter of 2023, marking the...
Accounts receivables (AR) are essential for a business’s financial health. They refer to the money customers owe for products or services that have been provided but not yet paid for. In many business organizations, delivering goods or services without collecting...
A recent Forbes Advisor article reports that late auto payments have reached their highest level since the 1990s, with borrower defaults on auto loans at a 27-year peak. In this competitive automotive landscape, managing delinquent auto loans is a critical challenge...
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