It is hard to believe that we are already halfway through the year. The warm summer weather is officially here and longer days create opportunities to work on summer projects or spend a quiet evening reading a book. People seem to capitalize on the conditions of summer and plan vacations or weddings during this time of year. It is also an opportunity to congratulate recent graduates closing one chapter in their life, and opening up another.
A holiday that is rarely celebrated during the month of June is Flag Day. Flag Day is a day that was set aside to remember the adoption of the American Flag. The American Flag was adopted as a result of the Second Continental Congress in 1777. The United States Army also recognizes its birthday on Flag Day.
For some, summer is celebrated on the green. I always enjoy driving by golf courses and seeing people swinging the clubs. A popular day for golf courses is, of course, Father's Day. It is important to take time to thank and/or remember the men in our lives. The hard work, love, and support men in our lives radiate deserve recognition. Golf and baseball seem to be the "go to" activities for these special occasions. If you are open to share any traditions or memories this Father's Day, feel free to comment. I am interested to hear them.
Given the fact that we are now halfway through 2012, this also means the second quarter has been completed. Economic conditions remain volatile and create challenges for everyone. It is important to develop realistic forecasts and goals. The world markets seem to be keeping a close eye on Europe. Spain and Greece have been the headlined countries in recent weeks. Spain has recently received recapitalization and Greece is coming up on another possible relief fund. There has been word that Greece may sever its monetary ties to the Euro and issue their own currency. Central banks worldwide are beginning new talks of another relief or stimulus measure to assist in recovering from the recent global downturn. More is sure to develop in the third quarter.
It is a whole new quarter and a whole new season. Let's start it off right. Enjoy your summer!
Jordan Muns, M.A.
*Survey Indicates Challenges Facing Credit Collection Industry.
The debt collection and credit industry are anticipating a 20% increase in cases in the coming years. Agencies already are seeing an increase in claims due to economic conditions and are preparing themselves for further increases. Technological upgrades and stream lined processes are being put into place to help manage each client caseload effectively.
It has been found that it is taking agencies more resources to continue collection efforts. The modern consumer is more educated about the collection process. They have found ways to elude collection. Some of which are illegal. Working in this industry, we have noticed a trend in the variety of tactics used by the modern consumer. Stalling and refusal to take ownership of debt accrued are the most common. Proper adjustments are being made to hold the modern consumer responsible for their business practices and consumption. Every organization has a value attached to their accounts receivable and accounts payable. Recovery of past due balances are crucial to cash flow and operations. It is vital for organizations to have a recovery process as a part of their business model.
Extended lines of credit and payment schedules are affecting profit margins and have had negative effects throughout the supply chain. Companies have already moved to acquire services from collection agencies or are formulating a plan of action to eventually acquire these services. It has been found more profitable for an organization to acquire these services due to the increase in the number of delinquencies. This is alarming and is important to have a working system in place. Collection efforts have become more complex and are demanding flexibility to accommodate the increase in variety and volume. Read the full article here.... http://www.sourcewire.com/news/71806/credit-collection-survey-shows-major-challenges-and-a-increase-in
*Americans being Harassed by False Debt Collectors from India.
False debt collection agencies have made the job of legitimate and professional agencies that much more difficult. False representation and illegitimate debt claims have plagued the collection and recovery industry for years. This particular case has also made people and businesses more cautious when selecting or communicating with collection agencies. Misleading and dishonest tactics instill fear into people and cause reluctance to participate in collection and recovery efforts.
For those who are involved in collection and recovery services, it is always good to hear that authorities and individuals have identified these illegitimate scams. It is even better news to hear them being shut down and prosecuted. Direct threats towards people and businesses for false debts should be combated with the full extent of the law. Like the article indicates, it is a fraud that is deceitful in every way. Creditors cannot afford to allow these scams to continue to operate. Let alone the victims. Read the full article here.... http://gma.yahoo.com/phantom-debt-collectors-india-harass-americans-demand-money-221109715--abc-news-topstories.html