Account Recovery

APRIL 25, 2024

Getting to Know Jessica Kagansky of Crown Asset Management Appeals Court Affirms Ruling in FCRA Case Over Dispute Investigation CFPB Publishes Supervisory Highlights on Mortgage Servicer Issues DFPI Fines Student Loan Servicer for Delivering Report 17 Days Late State Collection Service Achieves HITRUST Risk-Based, 2-year Certification WORTH NOTING: Animals get stressed during eclipses, it turns […]

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Student loans Student Loans Loans Collections 147

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.

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Account Recovery

APRIL 5, 2024

EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more?

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Enterprise Recovery

APRIL 10, 2024

Is your business struggling with unpaid invoices or clients not paying on time? Many companies often turn to professional debt collection agencies for assistance when this happens. Before you hand over your delinquent accounts to a collection agency, it's important to understand their role and how they can help your business. Learn how to effectively prepare your business for working with a debt collection agency to recover outstanding payments.

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Collection Agencies Collections Agency Collections 224

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.

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.

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Judgment Judgment Enforcement Commercial Collection Collections 96

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.

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Garnishment Collections 246

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.

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Law Firms Collections Creditors 98

Consumer Finance

APRIL 7, 2024

The CFPB today published an edition of Supervisory Highlights to share key findings from recent examinations about continuing accuracy problems in the credit reporting system.

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Prosperity Now

APRIL 9, 2024

This April marks the 56th anniversary of the Fair Housing Act, a landmark piece of legislation which outlawed housing discrimination and hoped to foster racial integration by giving everyone the ability to access the same neighborhoods and housing opportunities.

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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.

Collections

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.

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Lawyers Trade Law Firms Government 81

True Accord

APRIL 11, 2024

When it comes to financial and lending services, the customer journey doesn’t drop off once a consumer enters delinquency—in fact, quite the opposite. In the world of debt collection, understanding this unique, and often overlooked, part of the customer journey is critical to securing repayment and debt recovery. Welcome to the Debt Resolution Funnel.

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Debt Recovery Collection Agencies Collections Agency Debtor 87

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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Loans Student loans Student Loans Collections 142

Taurus Collect

APRIL 9, 2024

In the dynamic landscape of business, maintaining a healthy cash flow remains a paramount challenge, particularly in the face of rising collection costs. This is where the innovative concept of No Cure No Pay debt collection in the UK presents a compelling solution. Designed to mitigate financial risks and enhance efficiency in debt recovery, this approach offers businesses a safety net, ensuring they only incur a cost upon successful collection.

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Collections Debt Recovery Collection Agencies Collections Agency 72

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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.

Collections

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.

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Trade Creditors 89

Account Recovery

APRIL 25, 2024

If two consumers dispute a debt and the furnisher submits corrections to how the debt is being furnished, how can the consumers claim the investigation that was conducted was unreasonable? They can’t, the Court of Appeals for the Ninth Circuit has ruled, affirming a lower court’s ruling.

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Credit Corp

APRIL 8, 2024

[This is a guest post contributed by Jessica Chung, Programs Director at FitMoney] Millions of Americans will file their taxes this spring, but for many, they’ll be first-time filers. As parents, teachers and caregivers for young adults, we want to be sure that our children are financially savvy and secure, but these new taxpayers likely haven’t received the proper financial education needed to successfully file.

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Education Government Collections 73

Consumer Finance

APRIL 8, 2024

The CFPB’s Deputy Director submits this CFPB comment to the Illinois Joint Committee on the state’s proposed community reinvestment rules, specifically in support of provisions addressing appraisal bias.

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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

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.

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Construction Trade 59

UK debt collections

APRIL 11, 2024

New analysis by Mazars has found that the number of insolvencies by retailers has increased 19% in the past year to 2,195 in 2023/24 up from 1,843 in 2022/23. High profile retail insolvencies include The Body Shop in February, as well as fashion brand Ted Baker and online luxury fashion retailers MatchesFashion and Farfetch. Cautious consumer spending, and higher interest rates have also impacted the rise.

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Retail Bankruptcy Trade 71

Account Recovery

APRIL 24, 2024

Judge Remands Collection Lawsuit Back to State Court FTC Enacts Ban on Noncompete Clauses Walmart-Backed Fintech Starts Offering BNPL Services 25 Companies Seeking Collection Talent Attorney Issa K.

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Collections 147

Qualco

APRIL 25, 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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Loans Credit Management Creditors Government 52

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 15, 2024

The Consumer Financial Protection Bureau (CFPB) issued a procedural rule to update how the agency designates a nonbank for supervision.

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Jimerson Firm

APRIL 16, 2024

Florida’s real estate landscape is dynamic and, at times, complex. One tool that real estate attorneys are often asked about and property owners often consider is the Florida Land Trust, governed by the Florida Land Trust Act, Sec. 689.071, Florida Statutes. This blog serves as an introduction to what a land trust is, explores the nuances of the Florida Land Trust Act (the “Act”), highlights when forming a land trust in Florida can be advantageous, and crucially, identifies when it might n

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Judgment Creditors Debtor Bankruptcy 59

Credit Corp

APRIL 10, 2024

A prepaid debit card isn’t connected to your bank account. Instead, you buy the card from an authorized retailer, activate it, and then load money onto it. Cash is king, but not everyone wants to carry a wallet full of cash wherever they go. You could always use a debit card or a credit card, but what if you don’t want to share your personal information with another financial institution?

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Financial Institution Banks Retail 59

Account Recovery

APRIL 24, 2024

In most Fair Debt Collection Practices Act cases that are started in state court and then removed to federal court, it is the defendant — usually a collection operation of some kind — that is seeking to have the case heard before a federal judge. This time, it’s the other way around.

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Fair Debt Collection Collections Banks 147

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