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iVolution Medical Systems, a West Hampton, NY-operated health care systems firm, is taking a altered approach. The four-year-old company, started by former Wall Street consultants to the health care industry, entered the medical receivables space by acquiring knowledgeable billing and collections companies. First there was Professional Health care Billing Services (PHB) of Palm Springs, California in March, and then Continental Collection Services of New York, earlier this month (iVolution Medical Systems Acquires Continental Collection Services, May 13).
In: Finance
5 Jun 2010Bankruptcies can hang on your credit report for up to 10 years and can butcher your credit score by hundreds of points. But by using these tactics, you could improve your credit score and become creditworthy several years before the bankruptcy drops off your credit report.
In: Business
5 Jun 2010The collections industry has grown quite large in the past couple of years. The reason for this is that collections and recoveries are typically outsourced business functions. It would be unthinkable for a creditor to try to handle retrieving debt from all of their accounts, so the creditors call upon the collections agencies.
Depending on how the person who owes money reacts to the demand will have a large effect on what additional notices (if any) the collections company will pick from its library. Voluntary resolution (e.g. making payment arrangements and/or partial payments) might result in letters with a gentler tone. Deceptive or belligerent reactions from the debtor might result in a more threatening tone.
In: Business
15 Apr 2010The collections industry has grown massively in the last couple of years. The reason for this is that collections and recoveries are mostly outsourced business functions. It would be impossible for a creditor to handle retrieving debt from all of their accounts, so the creditors call the collections agencies.
In: Finance
12 Apr 2010The most current analysis of the American economy shows that incomes are decreasing for those just begining. The Collections Industry has reason to believe that this paradigm shift will be permanent.
In: Business
5 Mar 2010Basically, bankruptcy cases can be voluntary or involuntary. The overwhelming majority of cases will be voluntary. In these, debtors (the people who owe money) petition the bankruptcy court. With involuntary bankruptcy creditors (the people who you money to) file the petition in bankruptcy. Involuntary petitions are usually rare and are sometimes utilized in business settings in order to force a company into bankruptcy so the creditors can enforce their rights.