American Profit Recovery

JUNE 6, 2024

By Greg: We’re a little less than two weeks away from our Annual Employee Week and I am so looking forward to it. This is a week we all look forward to. It is a chance for the ownership team to show their thanks for all our hard work, and for us all to spend some fun time together in and out of the office. We will be kicking off the week with a picnic on Monday night, an evening of bowling on Tuesday, and a trip to an Escape Room on Wednesday.

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Account Recovery

JUNE 7, 2024

A District Court judge in North Carolina has granted a defendant’s motion to dismiss after it was sued for allegedly violating the Fair Credit Reporting Act and the Fair Debt Collection Practices Act, ruling that the plaintiff’s amended complaint did not contain enough information to allege that a violation of either statute had taken place.

Fair Debt Collection 147

Fair Debt Collection Collections 147

Enterprise Recovery

MAY 31, 2024

When reaching out to someone for the first time or following up on a previous message, setting a friendly and positive tone is important. Whether it's a sales email or, in our case, following up about an unpaid invoice, your initial email may dictate how the rest of the transaction will go. Learn how to effectively follow up with others in a polite and professional manner with these subtle techniques.

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Consumer Finance

JUNE 2, 2024

The CFPB finalized a rule to establish a registry to detect and deter corporate offenders that have broken consumer financial protection laws.

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Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.

Collection Agencies

Credit Corp

JUNE 4, 2024

Some reasons that your score hasn’t changed (or gone up) could be that the bureaus haven’t updated your credit profile yet, a bad credit utilization ratio, serious negative items outweighing recent good behavior, or errors on your credit. However, if you’ve been diligently working to improve your credit score but haven’t seen any progress, it can be frustrating.

Creditworthiness 98

Creditworthiness Credit Card Debt Lender Loans 98

Account Recovery

JUNE 6, 2024

Getting to Know Lynne Vellucci of Certified Solutions NJ Appeals Court Affirms Dismissal of Hunstein Suit Navient Program to Cancel Student Loan Debt Gets Put in Spotlight Consumers, Advocates to Get Say in CFPB’s Open Banking Standard Capio Launches Recoveri: A Revolutionary Approach to Medical Debt Resolution WORTH NOTING: A woman is claiming to be […]

Student loans 147

Student loans Student Loans Banks Loans 147

Enterprise Recovery

JUNE 6, 2024

Credit managers can help your business by ensuring the smooth functioning of credit operations. They are responsible for assessing the creditworthiness of potential clients and managing credit limits to prevent late payments and minimize financial risks. They also play a vital role in collecting accounts receivable and bad debt. By understanding the role of a credit manager in your business, you can effectively utilize their expertise to optimize cash flow and maintain a healthy financial positi

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Consumer Finance

JUNE 4, 2024

Today, the CFPB finalized a rule outlining the qualifications to become a recognized industry standard setting body, which can issue standards that companies can use to help them comply with the CFPB’s upcoming Personal Financial Data Rights Rule.

Banks 100

Banks 100

Credit Corp

JUNE 4, 2024

The credit monitoring apps chosen are based on rankings from reputable sites in the financial space. Credit.com is owned by Credit.com Holdings, LLC. Oquirrh Mountain Law Group, PC, d/b/a Lexington Law Firm is an independent law firm that uses Credit.com Holdings, LLC, as a provider of business and administrative services. Your credit score impacts your ability to obtain a credit card, purchase a home, or even rent an apartment.

Law Firms 95

Law Firms Loans 95

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.

UK debt collections

JUNE 4, 2024

A record number of Debt Relief Orders (DROs) were taken out in April, as the £90 fee for the insolvency option was scrapped. DROs are available to those on low incomes and clear existing debt on everything from council tax to energy bills and rent. Some 3,436 Debt relief orders were taken out in April – the highest monthly number since they were introduced in 2009, figures from the Insolvency Service , external show.

Unsecured Debt 74

Unsecured Debt Bankruptcy Government Debt Management 74

Account Recovery

JUNE 6, 2024

For those in the credit and collection industry, the portrayal of companies often leans towards the negative. However, a recent development covered by The New York Times highlights a significant, albeit under-publicized, initiative by Navient that offers a lifeline to borrowers with private student loans.

Student loans 147

Student loans Student Loans Loans Collections 147

FFGN COLLECT NY

JUNE 6, 2024

In debt collection, speed matters. To ensure quick success in obtaining a debt collection judgment, all settlement agreements should have a default provision. A judgment clerk can enter judgment on default, without obtaining a court order, when the creditor has set forth and supported with documentary evidence a claim for a liquidated amount. The claim for the liquidated amount or sum certain should be in the initial pleadings filed with the court.

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Collections Judgment Debtor Creditors 52

Consumer Finance

JUNE 3, 2024

The CFPB today issued a circular warning against the use of unlawful or unenforceable terms and conditions in contracts for consumer financial products or services.

Financial services 97

Financial services Banks 97

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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

The Kaplan Group

JUNE 5, 2024

A new study by The Kaplan Group shows that the debt burden has reached an all-time high for American households. We analyzed the evolution of auto loans, mortgages, credit card and student loans since 2003. Key Takeaways The total amount of debt grew by 81.5% in 20 years. Student loan debt quadrupled since 2003. With over $100,000 in debt, residents of the District of Columbia are struggling with the highest amount of debt followed by residents of Hawaii and Washington With just over $35,000, re

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Student loans Student Loans Credit Card Debt Retrieval 52

UK debt collections

JUNE 5, 2024

An iconic bicycle manufacturer is to enter voluntary liquidation after almost 80 years crafting and designing bicycle frames. Mercian Cycles, based in Derby, launched in 1946 and has continued to create bespoke bikes by hand throughout its history. Its products have been used by cyclists who have set world records and individuals who have undertaken trips around the globe.

Manufacturing 73

Manufacturing 73

Account Recovery

JUNE 5, 2024

Healthcare Provider, NY AG Issue Best Practices on Medical Debt Affordability, Collections CFPB Issues Warning About Contractual Fine Print Claim That Debt Not Owed Not Enough For Collection Letters to Be Harassing, Judge Rules 30 Companies Seeking Collection Talent WORTH NOTING: The latest viral trend involving pets is called the “paws in” challenge … The […]

Healthcare 147

Healthcare Collections 147

Credit Corp

JUNE 4, 2024

Buying your first home is an exciting milestone. You’ve worked hard to improve your credit, save up a down payment, and set aside enough money to cover the cost of unexpected repairs. If you want the process to go smoothly, it’s important to understand each step. Once a seller accepts your offer, you’ll need to pay for an appraisal. But how much is an appraisal fee?

Foreclosure 52

Foreclosure Lender Loans Banks 52

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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

Price Meese

JUNE 3, 2024

Price Meese Partner, Thomas C. Martin, Esq. is happy to attend the upcoming summer meeting of the Conference of Freight Counsel being held this year at Quebec City, Quebec, Canada. The Conference of Freight Counsel addresses and reviews recent case law affecting national and international transport of freight, transportation trends, and the legal impact of case law and newly created regulations affecting the transportation industry.

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Consumer Finance

JUNE 2, 2024

CFPB Director Rohit Chopra delivered remarks on the CFPB’s nonbank registration rule.

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UK debt collections

MAY 31, 2024

The latest Insolvency Service figures for April 2024 show there was a startling rise in Company Insolvencies. England and Wales witnessed a significant rise in company insolvencies, marking an 18.4% increase from March 2024 and a 5.4% uptick compared to April 2023. The total number of registered business insolvencies for the month reached 2,177, comprising 300 compulsory liquidations , 1,715 creditors’ voluntary liquidations (CVLs), 144 administrations, and 18 company voluntary arrangement

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Construction Retail Trade Creditors 81

Account Recovery

JUNE 5, 2024

In a groundbreaking move, New York Attorney General Letitia James and Northwell Health yesterday announced a historic agreement aimed at significantly improving access to financial assistance for millions of New Yorkers and “significantly” reducing medical debt collection efforts.

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Healthcare Collections 147

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

Account Recovery

JUNE 7, 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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Account Recovery

JUNE 7, 2024

Deepfake attacks are becoming a significant threat to contact centers, according to a report from Pindrop, a company focused on voice technology that works with companies in the financial services industry. The report highlights a worrying trend: fraudsters are increasingly using deepfake technology to deceive contact center agents and commit financial fraud.

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Financial services 130

Account Recovery

JUNE 7, 2024

Consumers who are financially healthy are able to pay their debts. That means it behooves companies in the credit and collection industry to do what they can to help consumers remain financially healthy.

Banks 130

Banks Collections 130

Account Recovery

JUNE 4, 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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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.