Fri.Jan 17, 2025

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CFPB Secures Settlement with NCSLTs Over Debt Collection Lawsuits

Account Recovery

The Consumer Financial Protection Bureau yesterday announced a settlement with the National Collegiate Student Loan Trusts (NCSLTs) to resolve allegations of defective debt collection practices. If approved by the court, the stipulated judgment will require the NCSLTs to provide $2.25 million in redress to consumers and implement corrective actions to address the alleged violations.

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Understanding the Acid Test: A Critical Financial Metric for Business Success

Burt and Associates

In the world of business, financial health is everything. Companies thrive or falter based on their ability to manage resources effectively and meet short-term obligations. Enter the acid test , also known as the quick ratio , a vital financial metric that helps assess a companys immediate liquidity. This ratio provides insight into whether a business can cover its short-term liabilities without relying on the sale of inventory, making it an invaluable tool for business owners and financial mana

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Judge Dismisses TCPA Case Against Collector

Account Recovery

A District Court judge in New Jersey has granted a defendant’s motion to dismiss a Telephone Consumer Protection Act case after it was accused of using an automated telephone dialing system when attempting to contact the plaintiff, ruling that the plaintiff’s allegations were insufficient to support the claim. The background: The case stemmed from a series of phone calls made by the defendant, a debt collection company, to the plaintiff’s personal cell phone between May and Jul

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Improve Operational Efficiency: Key Insights from Our Latest Webinar

PDC Flow

In todays fast-paced business world, operational efficiency is key to staying ahead. Businesses face constant challenges in streamlining business processes, maintaining compliance, and enhancing customer experiencesall while keeping operational costs low. To help address these issues, PDCflow recently hosted a webinar titled Boost Operational Efficiency with Bulk Flows, Custom Branding, and Automated Reminders, featuring Kristen Makanoa, our resident workflow expert and Product Manager.

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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Collector Sued for Contacting Plaintiff at Work

Account Recovery

EDITORS 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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Biden-Harris Administration Caps Historic Run of Student Loan Forgiveness

Account Recovery

The Biden-Harris Administration yesterday announced its last wave of student loan relief, approving more $600 million in forgiveness for 4,550 borrowers via the Income-Based Repayment (IBR) Plan and granting 4,100 individual Borrower Defense approvals. This marks a total of $188.8 billion in student debt relief for 5.3 million borrowers during President Bidens term.

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Daily Digest – January 17. Collector Sued for Contacting Plaintiff at Work; CFPB Secures Settlement with NCSLTs Over Debt Collection Lawsuits

Account Recovery

Collector Sued for Contacting Plaintiff at Work Judge Dismisses TCPA Case Against Collector Biden-Harris Administration Caps Historic Run of Student Loan Forgiveness CFPB Secures Settlement with NCSLTs Over Debt Collection Lawsuits WORTH NOTING: The useful things you should have in your junk drawer … Tips to help boost your negotiation skills that you can use in everyday situations … Why you should wait to unpack after you get home from a trip … A study reveals how to tell if y