Account Recovery

SEPTEMBER 20, 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? Call (855) WEB-RECON or email admin@webrecon.net today!

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Collections Fair Debt Collection 147

American Profit Recovery

SEPTEMBER 20, 2024

If you operate any type of seasonal business, you know there are ups and downs and fluctuations during your fiscal year. It’s important to have a game plan in place to manage the busy times and survive slower periods. We serve as a collection agency for seasonal businesses among others and we can tell you that cash flow can be a struggle for many that operate at different volumes during the year.

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Collection Agencies Collections Agency Collections 130

Account Recovery

SEPTEMBER 16, 2024

A District Court judge in Maryland has denied a defendant’s motion to compel arbitration in a Fair Debt Collection Practices Act (FDCPA) case, ruling that the defendant waived its right to arbitrate by engaging in prior litigation. The background: In August 2016, the plaintiff took out a personal loan that was sold and transferred through several financial entities, ultimately landing in the hands of the defendant.

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Collections Fair Debt Collection Personal loans Loans 246

Enterprise Recovery

SEPTEMBER 13, 2024

Outstanding invoices can be devastating to businesses of any size. The ripple effects of unpaid invoices can lead to cash flow problems, making it difficult to cover operational costs, pay employees, or invest in growth opportunities. Small businesses often lack the financial cushion that larger enterprises might have. However, even large corporations are not immune; accumulating unpaid invoices can disrupt financial planning and hinder strategic initiatives.

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Collections 206

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

American Profit Recovery

SEPTEMBER 18, 2024

“I have a lot of small invoices in my business that have not been paid. What should I do?” This is a common question our team gets from small and large businesses regarding lower dollar amount invoices that remain unpaid. Many businesses think it’s not worth the effort to implement collection activity on small invoices. But what if we told you that focusing on these in your business could add up to significant amounts of money recovered for your business.

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Collection Agencies Collections Agency Debt collector Collections 148

UK debt collections

SEPTEMBER 17, 2024

The Intellectual Property Office (IPO) has issued a fresh warning to customers to beware of misleading requests for payments, sent by unsolicited organisations. These typically take the form of invoices requesting payment for trade marks, designs, or patents services. Such ‘services’ – once paid for – may simply never be provided, or may be of little or no benefit to the customer (for example, inclusion on an ‘exclusive online register’, not recognised by the IPO or any other official body).

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Trade Government 85

Account Recovery

SEPTEMBER 19, 2024

Getting to Know Will Turner of TEC Services Group Judge Grants MTD in FDCPA Case Over Sending Letter Response to ‘Email Only’ Notification Private Equity’s Growing Influence in Medical Debt Collection The Delicate Balance of Self-Service Payment Portals: Minimizing Risk Without Adding Friction WORTH NOTING: What the Fed’s interest rate cut will mean for people trying to buy or sell a home … Five scams to be on the lookout for when you are traveling abroad … What you need to kno

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Collections 130

The Kaplan Group

SEPTEMBER 19, 2024

A new study by The Kaplan Group , a commercial collection agency, reveals a significant shift in the U.S. debt collection industry, which has seen notable shifts from 2019 to 2024, marked by a surge in public interest. This report explores these trends, highlighting state-level variations and national patterns as revealed by recent industry and search data.

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Debt collector Commercial Collection Collection Agencies Collections Agency 52

Consumer Finance

SEPTEMBER 16, 2024

Over the past decade, we have seen a significant incursion into consumer deposit taking and payments activities by companies that aren’t banks or credit unions. These firms want the public benefits of being a bank or credit union, without the public obligations.

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Credit Unions Credit Unions Banks 88

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

Banks

UK debt collections

SEPTEMBER 13, 2024

London estate and lettings agent Benham and Reeves has uncovered a growing wave of fraudulent activity with rogue tenants targeting landlords in the capital. With forged IDs, doctored documents, and undeclared financial issues becoming increasingly common, the firm reports that fraudsters are finding new ways to exploit the city’s high-demand rental market.

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Banks 81

Account Recovery

SEPTEMBER 19, 2024

I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support. TEC is now extending its services by offering proven, industry-leading technology solutions alongside of our Professional Services to help Clients feel confident in their technology de

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Retrieval Manufacturing Collection Agencies Collections Agency 130

Qualco

SEPTEMBER 19, 2024

Financial institutions face immense pressure to stay ahead of the curve, especially in detecting fraudulent activities, boosting subscription rates and optimising marketing campaigns. QUALCO Data-Driven Decision Engine (D3E) leverages predictive analytics to help institutions tackle these critical issues with precision and efficiency. Our latest report , "Predictive Analytics Use Cases: How to Prevent Fraud, Increase Subscriptions & Optimise Campaigns with QUALCO Data–Driven Decision Engine"

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Financial Institution Acquisition Financial services Banks 52

FFGN COLLECT NY

SEPTEMBER 18, 2024

Let’s say your company executed a promissory note with a client company that borrowed $100,000. The parties execute a valid promissory note on October 24, 2024, that indicates the amount borrowed and the date of repayment, October 15, 2025. Then around the date the note becomes due, the client states they need six additional months (April 15, 2026).

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Loans Collections 52

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Collection Agencies

Consumer Finance

SEPTEMBER 19, 2024

Today, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule with a narrow amendment to disclosure requirements for certain international money transfers, or remittances.

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UK debt collections

SEPTEMBER 18, 2024

Bristol City Council is owed £229m in unpaid debt, included nearly £52m of council tax it has failed to collect. However unpaid invoices account for much of the debt – £88.6m – and £30.9m of this is not due until next year. Bristol City Council revealed the figure – which also included rent arrears and clean air zone (CAZ) charges – in a report to the strategy and resources policy committee on Monday.

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Collections 61

Account Recovery

SEPTEMBER 19, 2024

For the second time this week, we have a ruling in favor of a defendant that was sued for responding to a “please only contact me via email” message with a letter, but this time, the judge uses Regulation F to show why the defendant did not violate the Fair Debt Collection Practices Act it was accused of breaking, in a case that was defended by Jacob Bach and Xerxes Martin of Martin Golden Lyons Watts Morgan.

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Fair Debt Collection Collections 130

Qualco

SEPTEMBER 19, 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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Credit Management Creditors Government Collections 52

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.

Debt Free Colorado

SEPTEMBER 14, 2024

Our Bankruptcy Lawyers are Your Local Legal Lifeline Are you looking for bankruptcy lawyer in Denver, CO ? When considering bankruptcy, having an experienced attorney by your side is essential. Bankruptcy laws can be complex and are always subject to change. A skilled Denver bankruptcy lawyer can easily navigate this legal process’s ins and outs.

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Lawyers Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy 52

Consumer Finance

SEPTEMBER 18, 2024

CFPB Director Rohit Chopra provided opening remarks at the 2024 Aspen Institute Cyber Summit.

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NCBA Law Practice Management Blog

SEPTEMBER 13, 2024

In many law firms – especially the small ones – managing attorneys are held hostage by their staffpersons. And, when the staffpersons are aware that that is the situation – thi ngs can quickly turn toxic. There are plenty of law firms, where staff are doing whatever they want, and dictating process and strategy to the attorneys they work for – because the lawyers believe they can’t let go of the staff, since they’re too important to the running of the law firm.

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Law Firms Lawyers Creditors 52

Account Recovery

SEPTEMBER 19, 2024

As digital transformation reshapes the collection and payments landscape, more consumers are using self-service payment portals to manage their debts. However, the need to ensure security without driving away users due to excessive friction remains a significant challenge. Driving the News: In a recent PaymentsJournal webinar, Ramesh Menon, Group Head of Product Management, Digital Identity & Fraud at LSEG Risk Intelligence, and Kevin Libby, Analyst, Fraud & Security at Javelin Strategy

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Collections 130

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Collections

PDC Flow

SEPTEMBER 13, 2024

Transform your company’s document management and esignature processes. Now you can send multiple documents in a single request, saving time and boosting efficiency for your business with PDCflow! Streamline essential business communications — contracts, agreements, payment requests, etc. — to reduce administrative overhead and enhance your customer experience.

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Education Collections 54

Account Recovery

SEPTEMBER 18, 2024

A District Court judge in Oklahoma has granted a defendant’s motion to dismiss after it was sued for violating the Fair Debt Collection Practices Act because it responded to a certified letter from the plaintiff that email was the only way to conveniently contact her by sending another letter to the plaintiff via traditional mail. The background: Back in December, the plaintiff received a collection letter from the defendant.

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Fair Debt Collection Collections Credit Management 130

Account Recovery

SEPTEMBER 18, 2024

The Court of Appeals for the Second Circuit has vacated a lower court’s ruling in a case where the defendant was accused of harassing the plaintiff by sending a disputed termination fee to collections and reporting the debt to the credit reporting agencies. The lower court had granted a motion to compel arbitration that was filed by the defendant, but because the plaintiff never actually alleged that a federal law was broken, the lower court had no jurisdiction to issue a ruling, the Appea

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Collections 130

Account Recovery

SEPTEMBER 18, 2024

As financial institutions continue to seek effective ways to communicate with consumers, text messaging (SMS) is emerging as a powerful tool to boost engagement, according to a published report. Offering significantly higher open and response rates than traditional channels like email, SMS provides a direct line to consumers — allowing companies to deliver time-sensitive, personalized information instantly.

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Financial Institution Credit Unions Credit Unions Collection Agencies 130

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