Account Recovery
MAY 3, 2024
The Biden administration’s plan to cancel student debt has come under scrutiny due to its potentially staggering cost to taxpayers. The cumulative cost of recent student loan cancellation policies is estimated to range from $870 billion to $1.
Consumer Finance
APRIL 30, 2024
The Consumer Financial Protection Bureau (CFPB) today released a report detailing the complex costs and fees that many consumers with health savings accounts are forced to pay.
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Account Recovery
APRIL 15, 2024
The governor of Oregon has signed a bill into law that raises the amount of money that can be protected by consumers from garnishments and keeps them from a “financial death spiral because of debt collection,” according to the sponsor of the bill.
Enterprise Recovery
APRIL 26, 2024
In today's competitive business landscape, it's important to manage late payments while upholding positive client relationships. Use the following techniques to navigate the delicate balance of recovering outstanding debts while maintaining trust and loyalty with your clients. Discover ethical collection practices to help recover late payments while maintaining positive client relationships.
Speaker: Erika R. Bales, Esq.
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
Consumer Finance
APRIL 23, 2024
The Consumer Financial Protection Bureau (CFPB) published an edition of Supervisory Highlights describing the agency’s actions to combat junk fees charged by mortgage servicers.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Collections Law
APRIL 23, 2024
Winning a judgment from the court might feel like a victory, but getting paid might be a whole new battle that you and your company were not expecting. At Law Offices of Alan M. Cohen & Associates LLC, our Massachusetts commercial collections attorneys have over 50 years of experience in aggressive, relentless, effective and commercial debt collection including but not limited to judgment enforcement and domestication.
NCBA Law Practice Management Blog
APRIL 14, 2024
Law firms usually collect money in arrears, ie – we’ve done the work, now kindly pay us. Most often, that payment is collected via a standard invoicing process. A bill is sent to the client; then, the firm waits to get paid. And waits. And waits. That’s because the way that attorneys have always managed the process has placed the control of the situation exclusively in the hands of their clients.
Consumer Finance
APRIL 28, 2024
The CFPB today released research showing that 15 million Americans still have medical bills on their credit reports despite changes by Equifax, Experian, and TransUnion.
Qualco
APRIL 18, 2024
NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. You can view it here. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. However, in a small number of credit businesses, the right strategies for systems and people have not been set.
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Are you finding some snags in your collections process? With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.
UK debt collections
APRIL 24, 2024
A Timeshare risk management company which claimed to help people exit their timeshare contracts in Tenerife has been shut down leaving clients at a loss Timeshare Legals Limited was wound-up following investigations by the Insolvency Service which found no proper accounting records, hundreds of clients left with unfulfilled claims and the transfer of client funds to a company in Spain with the same name, Timeshare Legals SL, and the same director, creating a lack of transparency.
Account Recovery
MAY 3, 2024
Suit Accuses Collector of Making Calls After Asking for Texts or Emails Only Arizona Court of Appeals Affirms Constitutionality of Predatory Debt Collection Act Connecticut Legislature Passes Medical Debt Credit Reporting Bill Student Loan Debt Cancellation to Cost Taxpayers as Much as $1.
True Accord
MAY 1, 2024
Telecom Industry Evolves, But Call-and-Collect Can’t Keep Up The telecommunications industry has evolved hand-in-hand with most consumer communication preferences throughout the decades. From the last remaining landlines to mobile and internet services, it’s challenging to find a consumer that doesn’t subscribe to a Telecom service. Yet while Telecoms enable customers to communicate and access products and services via digital channels wherever they go, the industry’s own methodology for communi
Consumer Finance
APRIL 16, 2024
The CFPB issued an order against BloomTech and its CEO for deceiving students about the cost of loans and making false claims about graduates’ hiring rates.
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For finance teams using Salesforce’s powerful CRM technology, automation can transform accounts receivable processes, driving efficiency and delivering measurable results like cost savings, reduced customer churn, and lower DSO.
Qualco
APRIL 15, 2024
THE NEW ERA OF CONSUMER LENDING In today ’ s rapidly evolving financial landscape, the significant increase in consumer lending presents new challenges for financial institutions, particularly in managing collections. These challenges are compounded by reliance on outdated systems that are inefficient, manual-intensive, and costly to maintain. To address these issues, our latest blog explores the QCR Accelerator, a state-of-the-art , plug-and-play collection software specifically designed to str
UK debt collections
APRIL 15, 2024
INSOLVENCY activity has again increased in the south east, according to the UK’s insolvency and restructuring trade body. R3 figures showed a rise in this activity from 246 in February to 261 in March, remaining consistent with the 12-month high of 277 in March 2023. The body has warned trends are continuing to rise, following its analysis of data from Creditsafe.
Account Recovery
MAY 3, 2024
The Arizona Court of Appeals this week upheld the state’s controversial Predatory Debt Collection Act, rebuffing an industry challenge led by the Arizona Creditors Bar Association. The decision ensures the law, which includes measures to shield individuals from medical debt garnishments and cap interest rates, remains in effect.
Jimerson Firm
MAY 2, 2024
Ipso Facto clauses are provisions in a contract providing that a party to the contract will be in default in the event of insolvency or due to the party’s financial condition. These provisions can cause headaches and heartburn, particularly when a party—or parties—are entering into bankruptcy proceedings. This blog will explain the limits of ipso facto clauses and why Florida courts decline to enforce them.
Speaker: Lynnette Khalfani-Cox, The Money Coach®
Niche markets represent a huge opportunity for the financial services industry in America. From college students and women to communities of color and low-to-moderate-income households, niche populations have specialized financial needs – but they often underutilize many valuable financial products and services. How can you better connect with these consumers?
Credit Corp
MAY 1, 2024
Credit card debt forgiveness, also known as debt settlement, involves negotiating with creditors to reduce the amount owed on your credit card balances. While it can provide relief from overwhelming debt, it may have significant consequences, including damage to your credit score, tax implications, and potential legal actions from creditors. It’s crucial to fully understand the terms and consequences before pursuing debt forgiveness and to explore other options such as debt management or c
UK debt collections
APRIL 26, 2024
John Barnes, the former England and Liverpool footballer, has been banned as a company director after his business failed to pay tens of thousands of pounds in tax. John Barnes Media Limited failed to pay more than £190,000 in corporation tax and VAT between 2018 and 2020, it was revealed following an investigation by the Insolvency Service. HMRC was the firm’s only known creditor when it ceased trading.
Account Recovery
MAY 2, 2024
The Federal Trade Commission has taken legal action against a payment processing company and two of its former executives, accusing them of processing payments for fraudulent and deceptive companies, including a debt relief organization.
Collections Law
MAY 2, 2024
Do you have an out-of-state judgment? Does your debtor have assets in Massachusetts? Our relentless and aggressive commercial collection lawyers at Law Offices of Alan M. Cohen & Associates LLC will ethically employ any and all applicable methods allowed to us under state, interstate and federal rules and statutes to help you get paid. In the case of foreign judgments states are required to honor and recognize judgments those judgments by virtue of the U.S.
Speaker: William Hord, Vice President of ERM Services
A well-defined change management process is critical to minimizing the impact that change has on your organization. Leveraging the data that your ERM program already contains is an effective way to help create and manage the overall change management process within your organization. Your ERM program generally assesses and maintains detailed information related to strategy, operations, and the remediation plans needed to mitigate the impact on the organization.
Consumer Finance
APRIL 29, 2024
The CFPB issued a new report that suggests consumers tend to pay more for products that have more complex pricing structures.
Credit Corp
APRIL 26, 2024
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. A 1099-c cancellation of debt form is issued when a lender forgives or cancels a debt. The 1099 c form helps the IRS account for canceled debts from the previous tax year.
Jimerson Firm
APRIL 22, 2024
In the ever-evolving realm of construction contracts, navigating the contractual dispute resolution procedures can pose significant challenges for contractors. Since the 2007 revision to AIA contract forms, the so-called Initial Decision Maker (IDM) process has become more common and is presenting new challenges for contractors. Thus, a basic understanding of the IDM process is essential for contractors seeking to navigate these complexities.
Account Recovery
MAY 2, 2024
Getting to Know Melissa Plunkey of L J Ross Associates Judge Awards Defendants $50k in Attorney’s Fees in FDCPA Case Payment Processor to Pay $10M to Settle Claims with FTC, Barred from Working with Collectors, Debt Relief Companies Why Healthcare Providers Need to Modernize Patient Payment Options WORTH NOTING: If you are looking for a […]
Speaker: William Hord, Senior VP of Risk & Professional Services
Enterprise Risk Management (ERM) is critical for industry growth in today’s fast-paced and ever-changing risk landscape. When building your ERM program foundation, you need to answer questions like: Do we have robust board and management support? Do we understand and articulate our bank’s risk appetite and how that impacts our business units? How are we measuring and rating our risk impact, likelihood, and controls to mitigate our risk?
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