Account Recovery

MARCH 25, 2022

APPEALS COURT OVERTURNS $163K ATTORNEY’S FEE AWARD IN FAVOR OF DEFENDANTS IN FDCPA CASE The Court of Appeals for the Fifth Circuit has reversed a lower court’s decision ordering the attorneys representing a plaintiff in a Fair Debt Collection Practices Act and Texas Fair Debt Collection Practices Act case to pay $163,000 in attorney’s fees … The post Daily Digest – March 25.

Fair Debt Collection 246

Fair Debt Collection Collections 246

Enterprise Recovery

MARCH 21, 2022

Getting frustrated or writing off client invoices isn't going to get them paid. An unresolved problem remains unresolved unless you do something about it. When a client agrees to pay for goods or services that your business is offering, it is well within your rights to request that they pay you. If you're unsure what to say, use this sample template to remind clients to pay your business.

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Collections 188

Nexa Collect

MARCH 22, 2022

By law, all debt collectors are required to provide at least 30 days to the debtor/consumer to dispute the debt, after the consumer receives (or is assumed to receive) the validation information. Most collection agencies will add about additional 2 weeks to account for mailing delays and holidays. This format is located here: CFPB Debt Collection Validation Notice R19 ( as of Nov 2021).

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Collection Agencies Collections Agency Debt collector Original Creditor 130

Consumer Finance

MARCH 21, 2022

Today, the Consumer Financial Protection Bureau (CFPB) issued policy guidance regarding potentially illegal practices related to consumer reviews. The CFPB seeks to ensure that customers can write reviews, particularly ones posted online, about financial products and services that accurately reflect their opinions and experiences.

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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.

Account Recovery

MARCH 24, 2022

GETTING TO KNOW CHRIS REPHOLZ OF THE CCS COMPANIES If you learn anything from this profile, Chris Repholz wants you to know that his last name is pronounced “Rep-holts” not “Ref-olts.” But more than that, he is someone who has dedicated most of his professional life to the contact center and accounts receivable management industry … The post Daily Digest – March 24.

Accounts Receivables Management 246

Accounts Receivables Management 246

Sawin & Shea

MARCH 23, 2022

Though bankruptcy is often one of the best ways to get out of debt, it can damage your credit score after filing. However, despite what many believe, this is not a permanent situation, and you can regain good standing with your credit. There are tricks to know though when trying to improve your credit score. There is life after bankruptcy, and you can open new lines of credit and take out loans again after you get back on your feet.

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Bankruptcy Loans Creditworthiness Lender 105

Consumer Finance

MARCH 22, 2022

Consumer Financial Protection Bureau Director Rohit Chopra issued a statement regarding the final report of the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE).

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Account Recovery

MARCH 22, 2022

This was something that was discussed on last week’s webinar on identity theft trends … a credit repair organization has been ordered by a federal judge — at the request of the Federal Trade Commission — to halt operating after allegedly bilking consumer out of millions of dollars by promising to remove negative information from … The post FTC Gets Order Halting Credit Repair Scheme Using Fake ID Theft Reports to Remove Negative Tradelines appeared first on Accounts

Trade 246

Trade 246

Nerd Wallet

MARCH 24, 2022

When it comes to saving money on rental cars, there’s no shortage of advice. Some suggest skipping mainstream companies and using a car rental alternative, like a peer-to-peer car-sharing service. Others promote package deals through online travel agencies like Expedia. And then there’s this advice: Rent through a rental car company’s downtown location, rather than.

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Troutman Sanders

MARCH 22, 2022

On March 18, the three nationwide consumer reporting agencies — Equifax, Experian, and TransUnion (NCRAs) — announced plans to change how medical debt will be reported on credit reports. The joint measures will result in the removal of nearly 70% of medical collection debt records from credit reports. The announcement included the following three major changes, with implementation starting on July 1: Any paid medical collection debt will no longer appear on a consumer’s credit report; The NCRAs

Financial services 98

Financial services Collections 98

UK debt collections

MARCH 24, 2022

UK contractor late payment has been increasing since the start of the covid-19 outbreak two years ago. More than two-thirds (65%) of contractors have experienced slower payments since the start of the pandemic , according to research carried out by Lloyds Bank Commercial Banking. A quarter of businesses (26%) say it now takes their customers more than 30 days to settle outstanding invoices, with debtors most commonly citing cashflow pressures (33%) and late payments from their own customers (28%

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Construction Banks Credit Management Debtor 83

Account Recovery

MARCH 23, 2022

A District Court Judge in Nevada has denied competing motions for judgment on the pleadings filed by both the plaintiff and defendant in a Fair Debt Collection Practices Act and Telephone Consumer Protection Act case about calls that were made to the plaintiff by the defendant after the debt had been settled. A copy of … The post Judge Denies Competing Motions in FDCPA, TCPA Case appeared first on AccountsRecovery.net.

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Fair Debt Collection Judgment Collections 246

Nerd Wallet

MARCH 21, 2022

The cost of home construction is skyrocketing due to inflation, and this could spell trouble for homeowners. Increases in the cost of lumber and other building materials, in conjunction with continued supply chain issues and labor shortages, could leave many homeowners underinsured if they need to rebuild after a covered insurance claim. Should disaster strike, Ben Moore writes for NerdWallet.

Construction 105

Construction 105

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Consumer Finance

MARCH 23, 2022

The Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2021 are now available on the Federal Financial Institutions Examination Council’s HMDA Platform for approximately 4,316 HMDA filers. The published data contain loan-level information filed by financial institutions, modified to protect consumer privacy.

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Financial Institution Loans 78

Public Citizen

MARCH 24, 2022

by Jeff Sovern. Jack Hoover, a 3L at Virginia, has written Standing and Student Loan Cancellation, 108 Va. L. Rev. Online (Forthcoming 2022). Here's the abstract: As the public policy debate over broad student loan cancellation continues, many have questioned whether the Executive branch has the legal authority to waive the federal government’s claim to up to $1.6 trillion in debt.

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Student loans Student Loans Loans Government 81

Account Recovery

MARCH 24, 2022

A District Court judge in Tennessee has granted a defendant’s motion for judgment on the pleadings that it did not violate the Fair Credit Reporting Act by failing to remove a dispute notification when furnishing information about an individual’s credit report to a credit reporting agency, because the individual only submitted the removal request to … The post Judge Grants Motion for Defendant in FCRA Over Removal of Dispute Notification appeared first on AccountsRecovery.net.

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Judgment 246

Nerd Wallet

MARCH 23, 2022

Few people want to work for free. However, some small-business owners and freelancers are doing just that, according to the Independent Economy Council. In an October 2021 survey of self-employed professionals across a range of industries, 72% of respondents had invoices that weren’t paid by clients for completed work. In addition to being frustrating, not.

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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?

Financial services

Troutman Sanders

MARCH 24, 2022

On March 22, the Virginia legislature sent HB1027 (Act) to the governor. If signed by April 11, the Act will impose the nation’s first registration requirement on sales-based financing providers and brokers. Virginia would also be the third state to create commercial financing disclosure requirements applicable to sales-based financing, after New York and California.

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Financial Institution Collateral Loans Judgment 59

Hudson Weir

MARCH 25, 2022

If you’re thinking about entering into an individual voluntary arrangement, you’ll likely have many questions including ‘how long does an IVA last?’. It’s important to consider the impact on your credit rating too, such as how long an IVA stays on your credit file. Also bear in mind how it would affect your ability to borrow. When planning to buy property in the near future, many people have asked us ‘how long after an IVA can I get a mortgage?’.

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Creditors Bankruptcy Lender 52

Account Recovery

MARCH 22, 2022

FTC GETS ORDER HALTING CREDIT REPAIR SCAM USING FAKE ID THEFT REPORTS TO REMOVE NEGATIVE TRADELINES This was something that was discussed on last week’s webinar on identity theft trends … a credit repair organization has been ordered by a federal judge — at the request of the Federal Trade Commission — to halt operating … The post Daily Digest – March 22.

Trade 246

Trade 246

Nerd Wallet

MARCH 21, 2022

The pandemic wreaked a specific kind of havoc on home remodeling. Swelling demand for construction projects collided with material and labor shortages, creating a home improvement traffic jam that has lasted into 2022. “The pandemic threw a very large wrench into everything, but in particular housing,” says Abbe Will, associate project director of the Remodeling.

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Construction Personal loans Loans 98

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?

Banks

Troutman Sanders

MARCH 25, 2022

On March 17, the Financial Industry Regulatory Authority (FINRA) issued a notice, clarifying when chief compliance officers (CCOs) will face liability as supervisors under FINRA Rule 3110. [1] Under Rule 3110, member firms are required to designate individual supervisors and identify their responsibilities as a part of implementing an overall system to “achieve compliance with applicable securities laws and regulations, and with applicable FINRA rules.” [2] Ultimate responsibility for supervisor

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On Guard

MARCH 25, 2022

Debtor management or accounts receivable seems fairly simple: money arrives, you note that the customer has paid and book the money into the company bank account. A piece of cake! But those who know the process a little better, know that accounts receivable, especially in the automotive industry, is rarely that simple. Of course, money comes in, but finding out from whom and for which invoice can be quite difficult.

Accounts Receivables Management 52

Accounts Receivables Management Debtor Banks Collections 52

Account Recovery

MARCH 23, 2022

During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers. This is merely meant … The post 27 Companies Looking for Collection Talent appeared first on AccountsRecovery.net.

Accounts Receivables Management 246

Accounts Receivables Management Collections 246

Nerd Wallet

MARCH 25, 2022

Ben & Jerry’s was started by childhood best friends. Four grad school buddies founded Warby Parker. A long friendship-turned-partnership brought Clear to TSA security lines across the U.S. A shopping trip between two pals launched size-inclusive clothing brand Universal Standard. Yes, stories of successful business partnerships between friends exist.

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