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 10, 2024

Judge Recommends Dismissal of FDCPA Suit Because Debt Was Commercial, Not Personal Phone Anxiety is Real for Many Individuals: Report Appeals Court Affirms Dismissal in Fraud Case Over Collection Contract Compliance Digest – June 10 WORTH NOTING: The best Father’s Day deals on gear that dads actually like to use … 10 fake models are […]

Collections 147

Collections 147

Enterprise Recovery

MAY 24, 2024

Timing plays a crucial role in optimizing payment collection strategies. Payment deadlines, reminders and utilizing technology can help increase the likelihood of on-time payments. The basic gist is this - the sooner you can attempt to collect on past-due payments, the more successful you will be. Strategically timing payment collection efforts can enhance the overall collection process and increase the success rate in recovering past-due payments.

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Collections 215

Consumer Finance

MAY 30, 2024

The CFPB sued student loan servicer Pennsylvania Higher Education Assistance Agency for illegally collecting on student loans that have been discharged in bankruptcy and sending false information about consumers to credit reporting companies.

Student loans 143

Student loans Student Loans Loans Bankruptcy 143

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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.

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Creditworthiness Credit Card Debt Lender Loans 98

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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Account Recovery

JUNE 10, 2024

In a case that was defendant by Jacob Bach of Martin Golden Lyons Watts Morgan, a Magistrate Court judge in Texas has recommended the dismissal of a Fair Debt Collection Practices Act case on the grounds that the underlying debt was not personal, but commercial.

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Fair Debt Collection Collections 147

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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UK debt collections

JUNE 6, 2024

A Scottish man who decided to recklessly act as a unlicensed Debt Collector recovering a business debt, has been punished in the courts for his unlawful actions. The man banged on a customers door and shouted threats in the middle of the night over an unpaid business debt. The unpaid business debt is believed to have been owed to the mans employer. Christopher Bett, 34, of Cardenden, appeared for sentencing at Dunfermline Sheriff Court.

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Debt collector Collections Collection Agencies Collections Agency 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.

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.

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Law Firms Loans 95

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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Credit Management Creditworthiness Collections 130

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.

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Fair Debt Collection Collections 147

Consumer Finance

MAY 21, 2024

The Consumer Financial Protection Bureau (CFPB) today issued an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers.

Lender 136

Lender Loans Financial services 136

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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

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.

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Unsecured Debt Bankruptcy Government Debt Management 77

On Guard

JUNE 10, 2024

A B2B sales professional tends to stay with a company for 3-5 years on average, before moving on to the next role. What makes someone stick with an organisation for longer? We asked Maarten, who recently completed 30 years in his Onguard journey. You know he is the one passing by your desk because you hear a whistle. He is an early bird, he enjoys asking questions to keep everyone busy, and his main hobby is to “enjoy life” Maarten, Global Account Director at Onguard, has made a val

Banks 52

Banks Credit Management 52

Jimerson Firm

MAY 30, 2024

The Bankruptcy Code provides debtors with a fresh start or an opportunity to reorganize their debts. In doing so, the Code requires all debtors to provide, under oath, a full disclosure of their assets and liabilities. This requirement promotes fairness to the debtor and its creditors by ensuring a complete and candid disclosure of assets to the trustee and the creditor body.

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Debtor Bankruptcy Chapter 7 bankruptcy Creditors 59

Account Recovery

JUNE 7, 2024

Collector Accused of Forcing ID Theft Victim to Pay Debt Judge Dismisses FCRA, FDCPA Claims For Failure to State Claim Number of Deepfake Attacks Against Contact Centers Growing: Report Acting Comptroller Discusses Importance of Consumer Financial Health WORTH NOTING: A list of 10 candidates to be Donald Trump’s running mate … Nearly two-thirds of middle-class […]

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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

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.

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Financial services Banks 115

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 78

NCBA Law Practice Management Blog

MAY 27, 2024

If you’re still sharing files with clients, referral sources and other attorneys, via email attachment – or, heaven forfend: fax! – you need to step up your game. Email is an inherently unsecure technology; so, if you’re sending confidential information via email, you need to secure that information, by encrypting it – at the document level, or at the system level.

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Law Firms Creditors 59

Jimerson Firm

MAY 23, 2024

by A. Hunter Faulkner and Maxwell A. Salain With a major hurricane making landfall somewhere in Florida on nearly an annual basis over the past several years, Florida’s property insurance market is in turmoil. Many carriers have left the state and those carriers still willing to write policies in the state have drastically increased the cost of their annual premiums.

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Government Collections 59

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 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 […]

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Student loans Student Loans Banks Loans 147

Consumer Finance

MAY 29, 2024

The Consumer Financial Protection Bureau (CFPB) today launched a public inquiry into junk fees that are increasing mortgage closing costs.

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Financial services 130

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.

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Manufacturing 73

NCBA Law Practice Management Blog

MAY 27, 2024

Law firm revenue usually has an ebb & flow to it, especially when you talk about firms that rely on hourly billing. Most attorneys would probably say that their revenue is pretty unpredictable. The only problem with that thesis is that it’s not entirely true. Law firms can design some assumptions about what they’ll make by utilizing revenue projections.

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Lawyers Law Firms Creditors 59

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.