July, 2021

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CFPB Announces Nov. 30 Effective Date For Regulation F

Account Recovery

The Consumer Financial Protection Bureau announced today that Regulation F will go into effect on November 30 as originally planned and will not delay the effective date of the rule until January 2022. “The CFPB has now determined that such an extension is unnecessary,” it said in a press release. “Following this announcement, the CFPB … The post CFPB Announces Nov. 30 Effective Date For Regulation F appeared first on AccountsRecovery.net.

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Team USA: Why the United States is the Best Place to Start a Business

Enterprise Recovery

As if we needed another reason to cheer for Team USA, CEOWORLD Magazine's Entrepreneurship Index for 2021 ranks the United States as the world's most entrepreneurial country. With Forbes magazine noting that nearly all the American billionaires are self-made and a 13-year high in the number of Americans starting their own businesses, the pandemic seems to have inspired new entrepreneurs.

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6 things they don’t tell you about debt collectors

American Profit Recovery

Do you know the truth about debt collectors? Do you feel you know what a collector does? Oftentimes we find that many people are unaware of certain facts about the collection industry and are even surprised when they learn more about the industry and the people that represent that industry. But don’t worry, we are here to tell you some of the things you may not be aware of when it comes to the collection industry.

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6 Times Short-Term Life Insurance Is a Good Idea

Nerd Wallet

With COVID-19 shutdowns easing across the country, many Americans are finding themselves in a time of transition. If you’re switching jobs, working on your health or trying to pay off a debt, a short-term life insurance policy could cover you until your situation changes. How does short-term life insurance work? There are two types of. Katia Iervasi writes for NerdWallet.

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

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.

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CFPB and FDIC Release Enhanced Version of Money Smart for Older Adults

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) and the Federal Deposit Insurance Corporation (FDIC) today announced the joint release of an enhanced version of the award-winning financial education curriculum, Money Smart for Older Adults. The enhanced version includes a new section to help people avoid “romance scams” and an updated resource guide.

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Senate Republicans Still Seeking Answers About Report That Administration Tried to Replace Employees at CFPB

Account Recovery

Senate Republicans are continuing to try and get answers about whether the leadership of the Consumer Financial Protection Bureau potentially violated civil service protections by trying to get career employees at the Bureau to resign so that they could be replaced by “handpicked loyalists.” After not getting any answers from Rohit Chopra, who has been … The post Senate Republicans Still Seeking Answers About Report That Administration Tried to Replace Employees at CFPB appeare

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B2B Collections: How to Convert Aging Receivables to Cash

Enterprise Recovery

If you've been putting off the headache of collections, you've likely also been asking, "how can I improve my cash flow?" The two go hand-in-hand. When you're not following up on invoices that are getting older, your chances of collecting on them go down. That means you're working for no pay and that's no good. Instead, use these B2B collections steps to convert aging receivables and improve cash flow.

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Construction Bid Protests in Florida: Top 10 Things Contractors Should Know

Jimerson Firm

Once a contractor in Florida receives notice that an agency soliciting bids intends to award a contract to another bidder, the contractor may wonder why its bid was unsuccessful. If a contractor believes its bid should have been the winning one, Florida law allows the contractor to protest the soliciting agency’s award. The process for bid protesting can be a tricky one.

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First-Time Home Buyer Programs by State

Nerd Wallet

Exploring local and national first-time home buyer assistance programs is an important step in the journey to homeownership. Many state housing authorities combine closing cost and down payment assistance programs with mortgages that have favorable interest rates. Some states even offer tax credits you can use on your federal tax return. These first-time home buyer assistance.

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When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

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.

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CFPB Confirms Effective Date for Debt Collection Final Rules

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today announced that two final rules issued under the Fair Debt Collection Practices Act (FDCPA) will take effect as planned, on November 30, 2021.

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Summer Vacation Savings: Traveling for Less

Sawin & Shea

Now that summer’s here, it’s time to jumpstart your summer vacation planning. An important component, of course, is budgeting. You deserve a break, but just make sure you don’t break the bank. Below are some guidelines and considerations for keeping the cost of your summer vacation low while still having a great time for yourself and for the whole family.

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WDWA Judge Partially Denies MTD in FDCPA Case Over Amount of Debt

Account Recovery

A District Court judge in Washington has mostly denied a defendant’s motion to dismiss — she did grant it on one count of the claim — in a Fair Debt Collection Practices Act case in which the debt collector was accused of attempting to collect a debt that the plaintiff claimed she did not owe. … The post WDWA Judge Partially Denies MTD in FDCPA Case Over Amount of Debt appeared first on AccountsRecovery.net.

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How to Manage Delinquent Customers in Business

Enterprise Recovery

If your business sends invoices or bills on credit or at recurring intervals, you likely have customers who pay late or not at all. Delinquent customer accounts can affect everything from paying business expenses to destroying business relationships. Customers may be paying late due to a number of reasons, including lost invoices, expired credit cards, or the inability to pay.

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10 Ways to Improve Payment Collections with Salesforce

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.

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Debt After Death: 9 Things You Need to Know

Credit Corp

DISCLAIMER. The information provided in this article does not, and is not intended to be, legal, financial or credit advice; instead, it is for general informational purposes only. . Losing a loved one is hard on so many levels. Funeral arrangements and estate matters have to be dealt with in the midst of grief—and questions abound. What debts are forgiven at death, for instance?

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9 Ways to Make Money as a Kid

Nerd Wallet

Job opportunities for children are limited, but not impossible to find. Sure, the minimum working age in the United States is 14, and some states may have a higher minimum employment age. However, there are certain exceptions, plus other ways besides traditional employment to make a few quick bucks. Need some ideas? Here are nine. Lauren Schwahn writes for NerdWallet.

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Top certification programmes for bookkeepers and accountants in 2021

Debtor Daddy

Whether you’re wanting to up-skill or fill in the gaps in your existing knowledge, we have outlined some of the top free certifications that are currently on offer for bookkeepers and accountants. 1. Debtor Daddy – Debtor Management Software. With Debtor Daddy’s certification program you’ll learn how to deliver a highly efficient and profitable debtor management service your clients will love.

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Women in Credit Awards Recognize Two More FICO Leaders

Fico Collections

. Last year I was proud to announce that three of our leaders in EMEA - Louise Lunn , Nicola Pickering and Anat Hoida - had been named finalists in the Women in Credit Awards, sponsored by Credit Strategy. Today I'm delighted to announce that we have two finalists in this year's Women in Credit Awards ! Michelle Beetar , Vice President and Managing Director for Africa, at FICO has been shortlisted for Team Leader of the Year.

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Connect, Care, Convert: Secrets to Establishing Trust with Niche Markets and Turning Them Into Clients

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?

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Remote Work, SB248 Lawsuit, and More Discussed During Day 2 of ACA’s Convention

Account Recovery

LAS VEGAS — More sights and sounds from ACA International’s Annual Convention, including a poll about remote work, an update on the industry’s lawsuit attempting to fight back against a medical debt collection law in Nevada, a tip on collectors’ commissions, and tips to deal with consumer lawsuits during the pandemic. Most Attendees Want Employees … The post Remote Work, SB248 Lawsuit, and More Discussed During Day 2 of ACA’s Convention appeared first on Accou

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Properly Evaluating and Defending Class Action Complaints

Jimerson Firm

Class action complaints are not a novel concept. Nevertheless, there appears to be an increase in class action complaints alleging violations of consumer protection laws such as Fair Debt Collection Practices Act (FDCPA), Florida’s Consumer Collections Practices Act (FCCPA), Fair Credit Reporting Act (FCRA), or Telephone Consumer Protection Act (TCPA).

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What Is a Good Mortgage Interest Rate and Other APR Info

Credit Corp

The interest rates for different types of debt vary widely. What is considered “good” for one would be considered exorbitant for another—and vice versa. A “good” interest rate for you is the lowest one you can get with the most favorable terms. But what is good for you might not be good for someone else. Ultimately, a good interest rate for you will come down to factors that include your credit score , income, and total debt.

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Millennials, what will you teach your kids about money?

Nerd Wallet

Hey, internet: Remember millennials? Many of us have graduated from our lattes and leisurely brunches to become parents with jobs, car loans and perhaps even a mortgage. On our road to adulthood, we’ve experienced two global crises — a recession and a pandemic. Many of us are also still carrying mountains of student debt. These. Amrita Jayakumar writes for NerdWallet.

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Successful Change Management with Enterprise Risk Management

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.

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Getting Your AR Back to “Normal”

Receivables Control

How quickly you get your AR back to “normal” depends on many factors. Sixteen months have passed since Covid-19 caused a global health crisis and economic upheaval. Prior to discussing AR, we must pause a moment and reflect on the friends and loved ones lost and the subsequent disruption. The disruption to everyday life has been immense and felt across the world.

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How FICO and Operation HOPE are Taking Steps toward Financial Literacy for All

Fico Collections

A core pillar of promoting and sustaining widespread access to credit is ensuring high levels of financial literacy. Unfortunately, the U.S. lags behind many other countries in financial literacy, meaning millions of Americans lack the resources they need to chart a healthier financial future. But thanks to nonprofit organizations like Operation HOPE — which collaborates with financial institutions, corporations, municipal agencies, and community organizations to help low- and mid-income America

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Daily Digest – July 30. Remote Work, SB248 and More Discussed at ACA; Judge Partially Denies MTD in FDCPA Case

Account Recovery

REMOTE WORK, SB248 LAWSUIT, AND MORE DISCUSSED DURING DAY 2 OF ACA’S CONVENTION LAS VEGAS — More sights and sounds from ACA International’s Annual Convention, including a poll about remote work, an update on the industry’s lawsuit attempting to fight back against a medical debt collection law in Nevada, a tip on collectors’ commissions, and … The post Daily Digest – July 30.

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Webinar: Navigating the Post-Pandemic Era of Rapidly Escalating Construction Prices

Jimerson Firm

On Wednesday, August 25, 2021 from 12:00 PM-1:00 PM, three of our partners will present Navigating the Post-Pandemic Era of Rapidly Escalating Construction Prices: A Panel Discussion on Trends, Tips and Best Practices. This lively panel discussion, hosted virtually, will discuss the hot button issue of the rapid escalation of construction material and labor prices that has been experienced across the construction industry during the post-pandemic economic recovery.

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How Preparation and Strategy Can Be Used to Fight and Defeat Any Ransomware Attack

Speaker: Karl Camilleri, Cloud Services Product Manager at phoenixNAP

Did you know that 2021 was a record-breaking year for ransomware? The days of a “once in a while” attack against businesses and organizations are over. Cyberthreats have become a serious issue. With 495.1 million attacks, the threat marked a 148% increase compared to 2020 and was the most expensive year on record! As a result, data protection needs to be a concern for most banks, businesses, and information technology specialists.