Account Recovery
MAY 3, 2024
The Biden administration’s plan to cancel student debt has come under scrutiny due to its potentially staggering cost to taxpayers. The cumulative cost of recent student loan cancellation policies is estimated to range from $870 billion to $1.
Consumer Finance
APRIL 30, 2024
The Consumer Financial Protection Bureau (CFPB) today released a report detailing the complex costs and fees that many consumers with health savings accounts are forced to pay.
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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.
Credit Corp
MAY 1, 2024
When getting your first credit card, consider factors such as the card’s annual fees, interest rates, rewards or benefits, and credit limit. Choose a card that aligns with your financial goals and spending habits, and make sure to understand the terms and conditions, including the consequences of late payments or carrying a balance. Additionally, aim to use the card responsibly to build positive credit history while avoiding overspending and accumulating debt.
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.
Direct Recovery
MAY 4, 2024
Are you under the impression that the only people who can see your credit report are the ones you authorize when applying for new credit? That is not exactly the case. Believe it or not, debt collectors can actually pull your credit report, and they don’t even need your permission to do so. Even if you work to keep up with your credit report, you might be surprised to find sudden changes that debt collectors might encounter, or even cause themselves.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
MAY 3, 2024
Suit Accuses Collector of Making Calls After Asking for Texts or Emails Only Arizona Court of Appeals Affirms Constitutionality of Predatory Debt Collection Act Connecticut Legislature Passes Medical Debt Credit Reporting Bill Student Loan Debt Cancellation to Cost Taxpayers as Much as $1.
Jimerson Firm
MAY 2, 2024
Ipso Facto clauses are provisions in a contract providing that a party to the contract will be in default in the event of insolvency or due to the party’s financial condition. These provisions can cause headaches and heartburn, particularly when a party—or parties—are entering into bankruptcy proceedings. This blog will explain the limits of ipso facto clauses and why Florida courts decline to enforce them.
Direct Recovery
MAY 4, 2024
The best way to maximize your collection efforts is to minimize the number of collections you have in the first place, and reducing the number of accounts in collections starts with formatting your invoices. Invoices are the primary means of asking your customers to pay you for services rendered, but their effectiveness can vary dramatically depending on whether or not they include the following five essential elements.
Credit Corp
MAY 1, 2024
Credit card debt forgiveness, also known as debt settlement, involves negotiating with creditors to reduce the amount owed on your credit card balances. While it can provide relief from overwhelming debt, it may have significant consequences, including damage to your credit score, tax implications, and potential legal actions from creditors. It’s crucial to fully understand the terms and consequences before pursuing debt forgiveness and to explore other options such as debt management or c
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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.
Account Recovery
MAY 3, 2024
The Arizona Court of Appeals this week upheld the state’s controversial Predatory Debt Collection Act, rebuffing an industry challenge led by the Arizona Creditors Bar Association. The decision ensures the law, which includes measures to shield individuals from medical debt garnishments and cap interest rates, remains in effect.
Consumer Finance
APRIL 29, 2024
The CFPB issued a new report that suggests consumers tend to pay more for products that have more complex pricing structures.
Collections Law
MAY 2, 2024
Do you have an out-of-state judgment? Does your debtor have assets in Massachusetts? Our relentless and aggressive commercial collection lawyers at Law Offices of Alan M. Cohen & Associates LLC will ethically employ any and all applicable methods allowed to us under state, interstate and federal rules and statutes to help you get paid. In the case of foreign judgments states are required to honor and recognize judgments those judgments by virtue of the U.S.
Direct Recovery
MAY 4, 2024
Legend has it that Morgan Housel wrote a large chunk of the first draft of The Psychology of Money in the same format as every other financial advice book, but then he took a hard left turn and chucked that draft into the trash. Housel had spent a large portion of his life breaking down complex financial topics into short blog posts, so why should writing a book be any different?
Speaker: William Hord, Senior VP of Risk & Professional Services
Enterprise Risk Management (ERM) is critical for industry growth in today’s fast-paced and ever-changing risk landscape. When building your ERM program foundation, you need to answer questions like: Do we have robust board and management support? Do we understand and articulate our bank’s risk appetite and how that impacts our business units? How are we measuring and rating our risk impact, likelihood, and controls to mitigate our risk?
Credit Corp
MAY 1, 2024
To remove a cosigner from a car loan and title, you typically need to refinance the loan solely in your name. This involves applying for a new loan based on your creditworthiness and income, which can be challenging if your financial situation has changed since the original loan was taken out. Once approved for refinancing, the lender will pay off the existing loan, and the cosigner will be released from their obligations on the loan and title.
Account Recovery
MAY 2, 2024
The Federal Trade Commission has taken legal action against a payment processing company and two of its former executives, accusing them of processing payments for fraudulent and deceptive companies, including a debt relief organization.
Consumer Finance
APRIL 30, 2024
The Consumer Financial Protection Bureau (CFPB) today released a report detailing the complex costs and fees that many consumers with health savings accounts are forced to pay.
On Guard
MAY 1, 2024
51% van de jongere generatie (18 tot 34 jaar) vindt dat hun generatie meer openstaat voor datagedreven werken dan hun ‘oudere’ collega’s, zo blijkt uit een recent onderzoek van Onguard. Maar wat betekent dit in het tijdperk van digitale transformatie en de snelle uitbreiding van technologie op de werkplek? En hoe kunnen bedrijven deze leeftijdskloof benutten om technologie op de best mogelijke manier te integreren?
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Discover a modern, cloud-based collection system that never takes a rest day. MeridianLink® Collect is an intuitive platform with advanced customization options developed to simplify the collections process. Here are four ways MeridianLink Collect can support your team: Omnichannel communications Compliance rules & checklists Workflows & queues One interface with supporting integrations And that’s just the start.
Direct Recovery
MAY 4, 2024
There is a time in every business story when managing the accounts receivable becomes too big for the core team. Many companies hire a collection agency to handle their problematic or delinquent accounts when that happens. This can be a big help in alleviating some of the workload from your best people, allowing them to focus on what they do best. But if you aren’t careful and hire the wrong agency, it can also be a complete waste of time.
Credit Corp
MAY 1, 2024
Paying off a credit card with a personal loan can offer the advantage of potentially lower interest rates, saving money on interest charges over time. It also simplifies debt repayment by consolidating multiple credit card balances into a single monthly payment. However, the personal loan could come with origination fees or other charges that should be carefully considered.
Account Recovery
MAY 2, 2024
Getting to Know Melissa Plunkey of L J Ross Associates Judge Awards Defendants $50k in Attorney’s Fees in FDCPA Case Payment Processor to Pay $10M to Settle Claims with FTC, Barred from Working with Collectors, Debt Relief Companies Why Healthcare Providers Need to Modernize Patient Payment Options WORTH NOTING: If you are looking for a […]
Consumer Finance
APRIL 30, 2024
CFPB Director Rohit Chopra issued a statement on the “captive consumer” model of health savings accounts (HSAs).
Speaker: Dr. Karen Hardy, CEO and Chief Risk Officer of Strategic Leadership Advisors LLC
Communication is a core component of a resilient organization's risk management framework. However, risk communication involves more than just reporting information and populating dashboards, and we may be limiting our skillset. Storytelling is the ability to express ideas and convey messages to others, including stakeholders. When done effectively, it can help interpret complex risk environments for leaders and inform their decision-making.
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.
Direct Recovery
MAY 4, 2024
One of the most common misunderstandings about the debt collection industry is that many consumers believe that debt collectors can only come after them if they provide a social security number at the time the debt is incurred. However, those consumers often find that this is not the case once those debts make their way onto a credit report. These misunderstandings are surprisingly common in the medical debt collection space, as many hospital patients are treated and released without ever provid
Credit Corp
MAY 1, 2024
You can, but we don’t recommend it. In most cases, it’s not advisable to buy a car with a credit card due to limitations on credit card transaction amounts, high-interest rates on credit card balances, and potential merchant fees. However, some dealerships may allow you to use a credit card for a portion of the payment or for a down payment, but weigh the costs and consider alternative financing options before you do.
Account Recovery
MAY 1, 2024
A District Court judge in New Jersey has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act class-action, ruling the plaintiff lacked standing to sue after claiming the defendant violated the statute by failing to indicate if interest, costs, or fees were included when it referenced the balance that was owed in […]
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The experiences of every generation are characterized by their behaviors involving finances. Understanding these attitudes and using them to inform marketing messages enables community banks, regional banks and credit unions to better serve their customers. This entertaining and informative eBook will help your financial institution uncover the best practices when it comes to appealing to mass audiences.
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