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Think your customers aren’t trying to pay? Think again. The intention-action gap shows that many customers do want to pay but struggle to act. Uncover the real reasons behind this gap 🌟🔍: https://lnkd.in/gqnTCFQg #DebtSolutions #CustomerSupport #BehavioralInsights

Scott Horsley of NPR reports on the Consumer Financial Protection Bureau's cuts to late fees. With fees previously as high as $41 Dennis Kelleher explains, "While those amounts may seem small to some people, they represent a real financial hardship to the countless Americans struggling to make ends meet." https://lnkd.in/dN8TETys Now, the financial industry is circling the wagons to defend its predatory credit card fees that cost 45 million hardworking Americans $220 per year. We'll be monitoring the situation closely so the public interest, not just special interests, are represented in the legal process: https://lnkd.in/dUb4Y2Uk

Does the race against the clock have you chasing your money down the rabbit hole? Time is money and every passing day increases your chances of losing your money on delinquent accounts. According to recent data, almost all delinquent accounts in the US are collected within 30 days of the due date. However, after 60-90 days past due, the success rate drops below 50%. Waiting until 90 days past due will only give you maybe a 25% chance of collecting, and that success only comes with a lot of work and legal action. Don't let time ticking by cost you money! What solutions do you use to ensure money gets to you? #financialmanagement #collections #creditmanagement

When to employ Martini, Hughes & Grossman (wwww.mhg.bz) 1. When a debt is 90-120 days delinquent. 2. When a customer demonstrates bad faith and loses credibility. 3. When costs of continued efforts do not justify further time investment. 4. When a customer discloses financial difficulty. 5. When a customer is ignoring your calls. 6. When a customer is lying to you. 7. When a customer is ignoring a 10-day final demand. 8. When a customer is falsely claiming defective products or services. 9. When a customer threatens bankruptcy. 10. When a customer is passing NSF checks. 11. When a customer is making partial remittance. 12. When a customer starts skipping payments. Cash Flow is Key in Business. Up to you on how long you want to wait for your hard earned money.! Feel free to reach out to us on contingency.

🤔 Ever wondered why your customers promise to pay but don’t follow through? The intention-action gap might be the culprit. Even when someone means well, mental barriers can prevent action—leading to overdue payments. Discover how these insights can refine your approach to customer engagement. Learn more in our latest blog 📖 : https://lnkd.in/gAdgkMqk ?utm_medium=social&utm_source=linkedin&utm_campaign=thought-leadership&utm_content= #DebtRecovery #CustomerEngagement

Chargeback-Triggered Refunds: Should You Offer One? 💳💰 1️⃣ Prevent Escalation ⛔ Offering a refund upfront can avoid the chargeback process, saving time, fees, and a potential mark on your record. 2️⃣ Protect Customer Relationships 🤝 A quick refund shows goodwill, enhancing trust and loyalty, even after disputes. Happy customers often return. 3️⃣ Consider the Costs 💸 Refunds might be less expensive than chargeback fees, but they can still impact your bottom line. Weigh the financial impact carefully. 4️⃣ Assess the Situation 🔍 If fraud or abuse is suspected, a refund might not be the best course of action. Investigate each case thoroughly. 5️⃣ Set Clear Policies 📜 Establish a transparent refund and chargeback policy. It reduces misunderstandings and ensures fair practices for both parties. #PolicyMatters #CostAnalysis #CustomerFirst #ProactiveSolutions

🚨 Are chargebacks draining your business? 🚨 Chargebacks are more than just a refund! They're costly, complicated, and can crush your bottom line. But guess what? They’re also avoidable! 💡 In my latest video, I break down: 🔍 What exactly are chargebacks? 📉 Why are they so expensive for businesses? 🛡️ How to reduce chargebacks and avoid fees 💥 Plus, the truth about friendly fraud! This 11-minute guide will provide you with everything you need to know to stay ahead of chargebacks. 🎥 Watch it now and get in control of your payments! https://lnkd.in/dt4CjvAC #Chargebacks #Fintech #BusinessGrowth #Payments #FriendlyFraud #Ecommerce #ChargebackPrevention #BusinessTips #FraudPrevention

Collections has a bad rap. In collections, we wanted to collect payment on a past-due bill. We demanded payment. This demand led to a higher default rate on already a defaulted account. After slowing down, seeking to understand what they could afford. Asking deeper questions during the conversation. An increase in revenue happened. People could see how it was possible Guiding them. Taking a large balance. Breaking it down to a palatable arrangement. What are you asking to dive deeper? #rileysreality

Do you have a business in one of these states? Let's connect and talk about how I can help lower your credit card fees WITHOUT SWITCHING. #advocate#lowerfees#withoutswitching#processing

Every wonder what a Merchant Advocate savings report looks like? You'll have access to your own portal to review your savings monthly. Get started today and keep more of your hard earned profits.