“I’ll show you mine if you show me yours.” At Simon’s Agency, we always tell our clients: “The sooner you get your placements to us, the more money we’ll remit to you.” While we encourage our clients to take their very best swing at collecting on their delinquent accounts, we also realize there is only so much they can do before they are out of tools. So why not take your swing but then get those over to us sooner rather than later instead of striking out. 90 days is good. But 60 days is better. And at 30 days… well we’re going to do some pretty incredible things to your bottom line. You know the whole “Red to Black” thing we’ve got going on here?
By John Viggiano posted at Aug 28, 2014 3:21:00 PM
Mobile Payments Increase Receivables
According to the Federal Reserve’s “Consumers and Mobile Financial Services 2013” report, 87% of the U.S. adult population has a mobile phone and 52% are internet-enabled smartphones. 28% of all mobile phone owners have used mobile banking and 15% reported making a payment using their phone in the 12 months preceding the report (which is most of 2012). Additionally, the most common use of mobile payments was to make an online bill payment.
By John Viggiano posted at Aug 13, 2014 11:14:00 AM
What the New FICO Formula Means for You
According to insideARM’s analysis of FICO’s announcement last Thursday that it will recalibrate its FICO Score formula, the debt collection industry will have to adjust to these new measures. But it seems that this will affect medical billers as well. FICO will essentially begin to separate medical collection accounts from all other collections by minimizing the risk to lenders that medical collection accounts represent. While this is somewhat understandable for lenders, it still pushes medical professionals into a corner. Lenders are basically telling consumers we don’t care much if you don’t pay your doctor as long as you pay your mortgage, car lease or credit card bills. Why do medical professionals continually get the shaft?
By John Viggiano posted at Aug 1, 2014 2:08:00 PM
Are We Underestimating the Value of a Human Being?
The Wall Street Journal this month published a great article by Lawrence H. Summers that outlines why jobs (filled by actual human beings) will not be readily available in the coming decades. Who are we to argue with a former Treasury Secretary? For the most part he’s hitting the nail on the head. Technology is allowing mankind to far exceed what humans have been able to accomplish on their own at just about every level of production. This trend can be seen from the birth of the wheel right through the Industrial Revolution and the advent of computerization in our modern world.
