True Accord

JUNE 29, 2023

Let’s take a look at how the new updates to GLBA Safeguards Rule, how these security policies are important specifically for debt collection, and what best practices your business should follow to protect consumers’ data. Ready to collect more, faster from happier customers? But for today’s consumers, data security is a top priority.

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FFGN COLLECT NY

MARCH 15, 2022

It’s important you verify the information contained in a debt collection affidavit before you sign it. An affidavit is sworn testimony used to support your debt collection case. Robo-signing occurs when procedures are not followed and documents are reviewed and signed by people with minimal background in the case.

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Troutman Sanders

MAY 16, 2023

Please join Troutman Pepper Partner Chris Willis and his colleagues Lori Sommerfield and Caleb Rosenberg for the second installment of a special three-part series about the Consumer Financial Protection Bureau’s (CFPB) new small business lending data collection and reporting final rule — the Section 1071 rule.

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UK debt collections

JULY 22, 2021

The UK’s leading High Street banks are strengthening their Debt Collection teams ahead of the emergency covid loan defaults. The UK’s four largest banks are said to have hired over 750 new Debt Collection staff to their debt recovery units in a major challenge facing them.

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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. Advanced Collection Services is a debt collector that works on behalf of other companies to get people to pay up on their old debts.

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Payment Savvy

MAY 16, 2023

The backbone of these developments is none other than America’s Automated Clearing House (ACH) which facilitates seamless electronic transactions between banks and financial institutions within its network. Instant ACH transfers have gained prominence as they cater to the increasing demand for expedited financial transactions.

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Nexa Collect

JUNE 24, 2023

You should discuss these points with the compliance superior of your collection agency. Since collection agencies fall under GLBA laws, they are subjected to the same strict laws as large financial institutions like banks. Avoid taking any printouts at your home concerning sensitive data.

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Better Credit Blog

FEBRUARY 18, 2021

Failing to pay your bills will cause the debt to move to collections. This means that your original creditor has officially handed the account over to a collection agency that will hound you for payments. One such debt collector that you may hear from is called FirstPoint Collections. About FirstPoint Collections.

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Collection Industry News

JULY 20, 2020

Yet the language the financial and collections industry uses is a touch disturbing. Things are dire and, I suspect, for many people they may not get better for a long time. As the retail and hospitality industries are decimated because of COVID-19 , millions of people face the coming months with utter fear.

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FFGN COLLECT NY

JANUARY 15, 2024

As millions of people stayed home during the pandemic, they turned to digital entertainment services, meal delivery services, clothing subscriptions, and online diet and exercise programs. For more debt collection best practices and news, check out our blog. This gave businesses the incentive to shift to a digital subscription model.

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Fico Collections

NOVEMBER 21, 2022

Financial institutions face first-party risks “inside the wire” - 14% of customers worldwide think it is normal to exaggerate income on a mortgage application. With the World Bank predicting growth will slump in 2022 and many countries facing a cost-of-living crisis, the stakes for financial institutions are becoming higher.

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Credit Corp

SEPTEMBER 13, 2023

Try a Secured Credit Card A secured credit card is a type of credit card that most people can acquire through their bank regardless of their credit score. Secured credit cards are different because rather than borrowing from a financial institution, you borrow from yourself.

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Fico Collections

JANUARY 14, 2021

Executing customer level collections. At the start of the pandemic, the initial surge of customer demand, for the majority of financial institutions, was created by the introduction of payment holiday schemes. Checklist for Meeting Inbound Customer Demand. Why are customers contacting you?

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Fico Collections

NOVEMBER 15, 2021

This week is International Fraud Awareness Week — but every week is Fraud Awareness Week for FICO, as we focus on helping banks and other financial institutions worldwide detect and manage fraud. Fraud is a big burden for such organizations but there are of course other victims – people just like you and me. Case 1: CryptoRom.

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Fico Collections

DECEMBER 9, 2021

As the end of the year approaches, financial institutions are preparing for 2022 by pivoting their focus towards digital transformation initiatives that add real value for their customers and their bottom line. In fact, the main attrition driver for financial institutions is a poor banking app. Creating an AI Structure.

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Fico Collections

MARCH 1, 2022

Financial institutions should view this digital transformation surge as an opportunity to embrace intelligent technology that helps enable exceptional customer experiences and valuable outcomes. Financial institutions have access to a lot of data – from customers themselves, third-party organizations, meta data, and many other sources.

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Fico Collections

MARCH 7, 2022

Financial services partners know that their clients are under increasing pressure to remain competitive, particularly when it comes to giving their end-customers the best experiences across the full lifecycle of engagement. It’s neither consistent nor comprehensive. Operational efficiency is poor. Operational efficiency is poor.

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Nexa Collect

DECEMBER 12, 2021

DeFi is a collective term for financial products and services that are accessible to anyone who can use Ethereum over the internet. Defi helps to build financial products on the Ethereum blockchain to allow anyone, anywhere with internet access, to gain lending and borrowing services on the blockchain without intermediaries.

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Jimerson Firm

NOVEMBER 8, 2023

Judgment creditors are often faced with the question of how to collect an out-of-state judgment (also commonly referred to as a foreign judgment) in Florida. Once the foreign judgment is domesticated, the judgment creditor may pursue post-judgment collections efforts in Florida. 55.501, Fla.

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Collection Industry News

FEBRUARY 14, 2022

Lewis, who started the company with his wife Linda in Lubbock in 1986 after a career in banking, knew that meant a lot of his employees didn’t have a way to save money, get loans, and other benefits of working with a financial institution. So the Lewises and a few others started a credit union.

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Fico Collections

APRIL 7, 2022

When it comes to banking, consumers have much higher expectations for trust than they do with other industries, and financial institutions must take this into account as they design and improve their digital offerings. Customers expect financial institutions to provide an ample amount of security and protection.

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Fico Collections

FEBRUARY 23, 2022

When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money.

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PDC Flow

OCTOBER 12, 2021

Before addressing the questions and concerns from attendees, Needleman and Bender discussed their thoughts on both the positive and negative aspects of the Consumer Financial Protection Bureau’s rule and how they may impact debt collection after November 30. This has been a decade or more in the making ,” said Needleman. “

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True Accord

JULY 13, 2020

Debt collection is a highly regulated industry and as such, is notoriously slow to change. Now more than ever, it’s clear that the collections industry needs to catch up with other financial services and provide modern solutions for the consumers it services.

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Credit Corp

JULY 25, 2023

We often hear people saythat it’s important to build credit. But when people say “your credit,” they’re usually talking about a credit score. Good credit is important because it helps you secure loans, mortgages, rentals, and other important financial goals. Only authorize accountable and trustworthy people.

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Collection Industry News

MAY 16, 2022

The bureau has model disclosures, including the debt collection model validation notice, available to help regulated entities provide materials to Spanish-speaking consumers. The Consumer Financial Protection Bureau has issued an updated list of disclosures in Spanish, including the debt collection model validation notice.

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FFGN COLLECT NY

JANUARY 20, 2021

Creditors and debtors alike often wonder how debt collection attorneys restrain bank accounts. In New York, attorneys can issue restraining notices to one or more financial institution where they believe the judgment debtor maintains an account. Below we demystify the process and explain how to freeze a bank account.

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True Accord

AUGUST 3, 2021

Digital-first debt collection fintech readies for continued B2B and B2C expansion with strategic leadership reorganization. He is a seasoned industry leader with more than 20 years of experience in the collections space, focusing on strategy, analytics, policies and strategies. See all open positions and apply here: [link].

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True Accord

MAY 16, 2022

We will always be taking phone calls, but we are doing a lot more now in the digital space trying to contact people. HB: It’s really about putting the two pieces together [outbound and other channels], and trying to find the sweet spot of customer experience and collection effectiveness.

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Fico Collections

OCTOBER 10, 2022

And financial institutions use FICO® Scores to underwrite lending to millions of people so that they can achieve their financial goals like buying a first home or starting a business. Medical Collection Removals Have Little Impact on FICO Scores. Mon, 10/10/2022 - 15:00. In her role, Ms. See all Posts.

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Sawin & Shea

FEBRUARY 28, 2024

You can discharge an unsecured loan whether it’s current, delinquent, or in default, even if the original lender sold it to a collection agency or debt buyer. People who are behind on secured personal loans can use Chapter 13 to return to good standing. People often file Chapter 13 to catch up on house or vehicle payments.

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Personal loans Bankruptcy Chapter 13 bankruptcy Loans 52

Fico Collections

JANUARY 11, 2022

With increased competition from challengers and Fintechs, financial institutions need to approach digital transformation as an opportunity to build something fundamentally new. Future-proofing your organization now involves studying behavioral science and how people engage with technology. Why does it require a form?

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Fico Collections

JANUARY 5, 2021

Technological advancements — including the proliferation of cloud deployment, the accessibility that SaaS provides and the significant gains to be had from deploying advanced AI and machine learning — have spurred institutions to take actions towards convergence. Prediction 3: Fraud and Financial Crime Management Convergence.

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Fico Collections

AUGUST 19, 2022

What financial institutions need to compete with fintech threat disrupters. billion globally in 2021 – banks and credit unions are losing their status as the primary financial services providers to American consumers. banks collected $15.47 Tackling the Fintech Threat: A Guide for Banks and Credit Unions. by Darryl Knopp.

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Consumer Financial Services Law

MARCH 30, 2020

By: Caren Enloe and Zachary Dunn In response to the rapidly developing COVID-19 pandemic, North Carolina Governor Roy Cooper issued an order on March 27, 2020 requiring all people in the state to stay in their homes “except as permitted in” the order. The Order takes effect at 5:00pm Monday, March 30, 2020. 58-2-46 (1)-(3).

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Fico Collections

OCTOBER 26, 2021

This involves collecting and analyzing data that is holistic, relevant, and predictive of member behavior (e.g., With more financial institutions focusing on customer experience (your competitive advantage), don’t take your member relationships for granted and continuously look for ways to improve and offer your members more.

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Troutman Sanders

OCTOBER 4, 2021

On September 22, the Internal Revenue Service announced that it awarded new contracts to three private sector collection agencies to collect overdue tax debts. 424 would, among other provisions, place new documentation requirements on any collection activity concerning student loans for private lenders. Coast Professional, Inc.,

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