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?
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.
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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.
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.
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.
Jimerson Firm
APRIL 9, 2024
Collecting on Judgment Liens in Florida Acquiring a money judgment through the litigation process in the State of Florida can be tough, arduous, and expensive. When a court enters a civil money judgment, it creates a judgment debtor and a judgment creditor. If the judgment debtor fails or refuses to pay the amount of the judgment, the judgment creditor may elect to use statutory collection methods to partially or fully satisfy the judgment.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
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 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.
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.
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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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.
Jimerson Firm
APRIL 4, 2024
“Why does the HOA care what I do in my backyard?” is an all-too-common question posed by homeowners. Responsible for maintaining the community rules, facilities, and appearance, homeowners’ associations have an important role in upholding community standards. However, a common complaint amongst owners revolves around their homeowners’ association’s (“HOA”) authority to govern what happens in the back or side yard of a home out of sight of the rest of the HOA.
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
APRIL 30, 2024
The Florida-based payment plan provider has chosen Skit.ai’s Conversational AI solution to streamline its collection efforts. NEW YORK, NY (April 30, 2024) – Skit.ai, the leading provider of Conversational AI solutions for the accounts receivables industry, announced today its partnership with Uown Leasing, a Florida-based provider of lease-to-own, flexible payment solutions for consumer products.
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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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.
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.
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.
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.
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.
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?
Account Recovery
APRIL 30, 2024
In a case that was defended by the teams at Martin Golden Lyons Watts Morgan and Lippes Mathias, a state court judge in Pennsylvania has dismissed a Hunstein case on the grounds the plaintiff lacked standing to sue, saying that there “appears to be little difference” between the agency printing and mailing a letter or […]
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
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.
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.
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.
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.
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
APRIL 29, 2024
The Court of Appeals for the Third Circuit has vacated a lower court’s opinion in a Fair Debt Collection Practices Act case, but only to dismiss the complaint because the plaintiff lacked standing to sue, instead of dismissing the case because the plaintiff failed to state a claim.
Roths Child Law
APRIL 30, 2024
Following bankruptcy, managing credit card usage requires a strategic approach to rebuilding financial stability and creditworthiness. This involves understanding credit scores and the importance of responsible financial habits. Some tips to help you navigate credit card use after you file for bankruptcy can be found here. Understanding credit scores Understanding the intricacies of credit scores is crucial post-bankruptcy, as it highlights the significance of rebuilding creditworthiness.
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.
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