True Accord

OCTOBER 20, 2022

Just as technology has evolved leaps and bounds, so have consumer communication preferences with that technology, especially when it comes to debt collection. So in 2021, the Consumer Financial Protection Bureau (CFPB) rolled out Regulation F under the existing Fair Debt Collection Practices Act (FDCPA).

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Taurus Collect

DECEMBER 18, 2023

An inevitable part of this financial management is the realm of commercial debt collection. It’s a challenging arena that many businesses often grapple with. In this blog post, we will delve into the tips and strategies that will help you navigate commercial debt collection effectively.

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Taurus Collect

AUGUST 23, 2023

In the complex world of finance, debt collection remains a constant challenge. However, the landscape of debt collection has significantly evolved in recent years. It is especially important to know the laws if you are considering a no cure no pay debt collection agency in the UK.

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Troutman Sanders

MARCH 11, 2024

The blog post posited that closing costs significantly impact a borrower’s financial commitment and, potentially, monthly payments and identified a “noticeable increase” in closing costs, with median total loan expenses on home purchase loans increasing by 21.8% between 2021 and 2022. For more information, click here.

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True Accord

NOVEMBER 13, 2023

The New York City Department of Consumer and Worker Protection (NYC DCWP) just released an updated proposed amendment to its rules relating to debt collection. This updated amendment changes significantly more than the first proposed amendment released by NYC DCWP last year.

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Taurus Collect

APRIL 4, 2023

For businesses that need a little extra financial support to make their operations more efficient or expand, taking out a loan can provide the necessary capital and access to new opportunities. Business loans also come with flexible repayment plans that make it easier to pay back the amount borrowed over some time.

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Taurus Collect

JUNE 15, 2023

Are you a business owner struggling to properly manage accounts receivable and collect past-due payments? It’s no surprise that debt collection is an increasingly competitive field, so understanding and leveraging the right tools could give your company the edge it needs.

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CICM

JUNE 7, 2023

Ensuring your invoices are paid promptly and within terms is an essential item on the ‘to-do’ list for any business that wants to maintain a healthy cash flow position. In this blog, you will find tips that help ease the process, secure some ‘wins’ and streamline your business operations.

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Collection Industry News

MAY 10, 2023

As a result of actionby the Federal Trade Commission and the Commonwealth of Pennsylvania, debt collection company International Credit Recovery, Inc. AFS), which also does business as Progressive Business Publications and the Center for Education and Employment Law. ICR), officer Richard Diorio, Jr., and Edward Satell.

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PDC Flow

DECEMBER 14, 2021

Now, Vice President, co-owner, and founder of Debt Recovery Solutions of Ohio, Inc, she runs a thriving collection agency of her own. Here, she discusses her career journey, her main professional focuses, and what she has observed in the debt collection industry. How did you get started?

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Nexa Collect

OCTOBER 22, 2020

Official figures worldwide show that the number of businesses starting up is constantly rising. More and more people are turning to entrepreneurship, and business chiefs are predicting that small businesses are going to play a vital role in the future economy. million small businesses in the U.S. businesses.

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Troutman Sanders

JANUARY 9, 2024

On January 4, the Federal Trade Commission (FTC) and the State of Connecticut announced they are filing suit against an auto dealer for several of its business practices. On January 2, the CFPB published a blog titled, “Holding Debt Collectors Responsible for False Statements.” In the blog, the CFPB examined Carrasquillo v.

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PDC Flow

AUGUST 17, 2021

It takes attention, time and patience to find the right system for the type of debt you’re collecting. President of First Collection Services, William "Chris" Dunkum has more than 30 years’ experience in the collection industry serving in sales, operations, and executive leadership. Chris Dunkum. John Kelan. David Speed.

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True Accord

SEPTEMBER 28, 2022

Just as technology has evolved leaps and bounds, so have consumer communication preferences, especially when it comes to debt collection. How can businesses ensure compliance through the evolving regulatory landscape? How can businesses ensure compliance through the evolving regulatory landscape?

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Troutman Sanders

NOVEMBER 8, 2023

This action will represent the sixth market for which the CFPB has defined “larger participants,” having already defined the term for credit reporting, debt collection, student loan servicing, international money transfers (remittances), and automobile financing.

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Troutman Sanders

NOVEMBER 7, 2023

Consumers who did not pay the fee had to wait up to three business days for their advances. On November 1, the Consumer Financial Protection Bureau (CFPB) published a blog focused on the financial challenges that servicemembers face. The complaint also alleges that the company began charging consumers a fee for an instant transfer.

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PDC Flow

DECEMBER 7, 2021

It’s no secret that hiring has become a challenge in most industries, and the debt collection industry is no exception. While this cycle may be common for many debt collection agencies, it is possible to hire teams of talented and dedicated professionals. Subscribe to the PDCflow Blog. Share this post!

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FFGN COLLECT NY

APRIL 13, 2023

During the onset of the pandemic, New York City faced a major crisis as Covid-19 cases skyrocketed and business revenues plummeted. Harassment included interrupting or discontinuing essential services for an extended period of time or interfering with a commercial tenant’s business, such as removing personal property or changing the locks.

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Katabat

MAY 3, 2021

A Side Effect of the Pandemic: Soaring Medical Debt.”. That’s the troubling word from a CBS News report, which begins: “Medical debt ranks among the top causes of personal bankruptcies across the U.S., Data show a growing number of Americans being pursued by debt collectors over their medical bills during the last year.”

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Collection Industry News

AUGUST 17, 2023

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows a slight uptick in total household debt in the second quarter of 2023, increasing by $16 billion (0.1%) to $17.06 Student Loans Outstanding student loan debt stood at $1.57

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UK debt collections

JANUARY 6, 2022

Debt Collection firms have welcomed the news that the Financial Conduct Authority has completed a consultation on outlawing referral fees for debt packager firms. Facebook and other social media platforms also carry the promise of wiping off debt for a small cost. This marketing comes from debt packager firms.

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CICM

JULY 11, 2022

In our latest blog, the Menzies LLP Creditor Services team looks at what we should do when dealing with our aged debtor list. Prompt escalation of any issues where bad debt is apparent. Automate your processes for receiving your collectables. Spotting the signs of trouble. Have they asked for copy invoices? Use a payment portal.

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Debt Recoveries

DECEMBER 1, 2020

I run Debt Recoveries Australia and ADC Legal. One of Australia’s leading debt collection agencies and one of the most respected litigation service companies. What is Business Processing Outsourcing (BPO)? At first I started with one administrative assistant, who did my social media postings, blogs and Google Ads.

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Better Credit Blog

NOVEMBER 17, 2020

If MBA Law Offices/Capio is calling you and sending letters claiming you owe them money, they’ve likely reported your debt to one or more of the credit bureaus. When that happens, your credit could suffer for as long as seven years, regardless of whether you pay your debt off or not. Get proof of the debt. Get Proof of the Debt.

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Better Credit Blog

NOVEMBER 3, 2020

Have you been receiving threatening calls and letters from a company called Advanced Collection Services? You likely have an old debt hanging over your head that they are trying to collect payment on. The problem is that sometimes they get information wrong and try to collect the wrong amount or from the wrong person.

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Debt Recoveries

NOVEMBER 21, 2021

For several years now, Debt Recoveries Australia has championed the assistance of an offshore business assistance solution. What is Business Processing Outsourcing (BPO)? At first, we started with one administrative assistant, who did our social media postings, blogs and Google Ads. Debt collection.

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Fico Collections

JUNE 16, 2022

Meeting Debt Collection Challenges Amid a Squeeze on Income. In order to deal with the rising cost of living and other challenges, anyone managing collections portfolios and effective debt recovery strategies needs these capabilities. As with most walks of life it also applies to effective debt collection.

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Better Credit Blog

APRIL 3, 2022

Portfolio Recovery Associates, LLC, is a collection agency that buys old debts from lenders and companies that have been unable to collect the debt themselves. Portfolio Recovery buys multiple accounts with old debt from companies that have given up and “charged off” the accounts. This is called a charge-off.

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Fico Collections

JUNE 28, 2022

But a small uplift in the average balance for accounts missing 1 payment suggests inflation is having an impact . . . . FICO believes that inflationary impacts will be worst for those already identified as in persistent debt or potentially new candidates for that designation. chevron_left Blog Home. Darcy Sullivan.

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Fico Collections

FEBRUARY 7, 2023

Home Blog FICO Top 5 Scores Posts of 2022: Steady FICO Score, BNPL and Alternative Data 2022 marked the first year in over a decade the average FICO Score did not increase, while the industry’s attention remained on topics such as alternative data and BNPL. Now, the average FICO® Score has leveled off during the second year of the pandemic.

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Troutman Sanders

AUGUST 28, 2023

According to the FTC, “[n]o legitimate business or government agency is going to demand you to pay with cryptocurrency … [t]hat’s always a scam.” District Court for the Southern District of Texas, which enjoined the CFPB from implementing its “Small Business Lending Rule.” For more information, click here.

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Collection Industry News

JANUARY 24, 2022

To settle Federal Trade Commission charges that it engaged in deceptive and unfair practices, Dun & Bradstreet (D&B) has agreed to an order requiring substantial changes in the firm’s operations that will benefit small- and mid-sized businesses.

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The Kaplan Group

SEPTEMBER 7, 2020

In 600 words, please tell us about a past business you have worked for and which financial statement you think is the most important to their business and why. I have enjoyed learning the business model of a regional and upscale gym in the Georgian suburbs during my time working. THE CASH FLOW STATEMENT.

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Better Credit Blog

SEPTEMBER 9, 2020

Has LCA Collections recently appeared on your credit report recently? LCA Collections is a debt collection agency that specializes in medical debt. Instead, you should use the tips below to get the collections entry deleted from your credit report and put an end to their correspondence.

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PDC Flow

OCTOBER 13, 2020

Employee professional development is an important – and valuable – part of running a business. We started out of a need to provide secure payment processing for third party collections, but our product has evolved so much. Businesses can include multiple business transactions in one secure workflow. Who is PDCflow?

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Better Credit Blog

FEBRUARY 25, 2021

First Federal is most likely on your report as a collections entry because of an unpaid bill. Because collections accounts can lower your credit score, it’s important to act quickly to get them off your report. Fortunately, FFCC is a legitimate third-party debt collection agency. Healthcare. Financial institution.

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Collection Industry News

APRIL 2, 2021

Acting CFPB Director Dave Uejio — appointed by the Biden administration to lead the agency following Kathy Kraninger’s resignation — offered his most forceful comments to date on the 2020 rule, which eliminated underwriting requirements for small-dollar lenders. Bloomberg News. I think it’s a pretty big statement.”.

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