Account Recovery
JUNE 11, 2024
The Consumer Financial Protection Bureau today announced the next step in its plan to prohibit medical debts from being included on consumers’ credit reports, proposing a rule that would remove $49 billion of debts that are currently appearing on those reports.
American Profit Recovery
JUNE 11, 2024
By Alexis: Let be honest, when we hear “collection agency” we automatically have negative connotations. There is an unspoken stigma surrounding collection agencies and people that have accounts in collections, but what people don’t realize is there are a lot of people that have accounts in collections. Having an account in collections should not be a source of shame.
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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.
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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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.
Consumer Finance
JUNE 10, 2024
Today, the CFPB proposed a rule that would remove medical bills from most credit reports, increase privacy protections, help to increase credit scores and loan approvals, and prevent debt collectors from using the credit reporting system to coerce people to pay.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
JUNE 13, 2024
I was told yesterday by someone I trust that a lot of companies in the accounts receivable management industry have firewalls from a company called FortiGate. If you do not know who your firewall provider is, you may want to take a second and check.
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.
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.
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.
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
JUNE 13, 2024
Getting to Know Scott Weltman of Weltman, Weinberg & Reis Judge Dismisses Suit Alleging Wrongful Garnishment and Improper Service of Summons Popular Firewall Provider Breached, Requires Completely Re-Formatting Device to Fix Wisconsin Org.
American Profit Recovery
JUNE 13, 2024
Effective communication can solve many challenges in a business of any size. In fact, it is a mission-critical component of any type of business. Whether it’s internal or external communications, every business needs to make this a priority. When it comes to cash flow in an organization, this is a critical area where strong communication is key, and consistent communication can make a difference.
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
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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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.
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.
Account Recovery
JUNE 12, 2024
Yesterday, the Consumer Financial Protection Bureau proposed a rule that would prohibit medical debts from being furnished on consumers’ credit reports. You can read more about the proposed rule here. You can sign up for a webinar on Thursday, June 13 to learn more about the proposed rule here.
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.
Roths Child Law
JUNE 11, 2024
Debt is easy to acquire. Many people build up debt with credit card purchases, late fees and high interest. Others may have suffered injuries or medical conditions that led to medical debt. One option to get rid of this debt easily when the debtor can not pay it on their own is bankruptcy. Bankruptcy is a process that allows debtors to regain control of their finances, either by discharging eligible debts in a Chapter 7 bankruptcy or via a repayment/restructuring plan through Chapter 13.
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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
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.
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.
Account Recovery
JUNE 12, 2024
CFPB Proposes Rule to Ban Medical Debts from Credit Reports Reaction to CFPB’s Proposed Medical Debt Credit Reporting Rule Judge Grants MSJ for Defendant in FDCPA, FCRA Case Over Disputed Debt Ranking The AI Bots 27 Companies Seeking Collection Talent WORTH NOTING: What happens to your breathing when you are on your phone or looking […]
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.
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?
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
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.
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.
Account Recovery
JUNE 11, 2024
A District Court judge in Alabama has partially granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case, ruling that an ambiguously worded dispute letter from the plaintiff’s attorneys could have indicated to the defendant that multiple debts were being disputed instead of just one and that the defendant is […]
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.
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