American Profit Recovery
NOVEMBER 2, 2020
By Tracey: I have been through many changes in my life and never for one minute would I have thought I would change careers and become a collection specialist. In January I took a great leap of faith and was offered a job at American Profit Recovery. I feel it was the best thing I ever did. It has been quite a long time since I could say I really enjoy coming to work.
Account Recovery
NOVEMBER 2, 2020
Here are some reactions to the Consumer Financial Protection Bureau’s debt collection rule from lawmakers and consumer advocates “As working families struggle to pay for food, housing, and other necessities, debt collectors are flooding the courts with collection lawsuits and reporting record profits. The CFPB’s new debt collection rule fails to provide hardworking consumers with … The post Lawmakers, Advocates React to CFPB Debt Collection Rule appeared first on AccountsRecovery.net
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Nerd Wallet
NOVEMBER 2, 2020
You may have heard of Medicare Advantage Plans, but do you know how to shop for one (or how they fit into the Medicare universe)? Medicare Advantage Plans are an “all-in-one” alternative to Original Medicare — meaning they replace Medicare Part A (hospital coverage), Medicare Part B (medical insurance) and often Medicare Part D (drug. Kate Ashford is a writer at NerdWallet.
Account Recovery
NOVEMBER 2, 2020
CFPB RELEASES DEBT COLLECTION RULE The Consumer Financial Protection Bureau on Friday released its debt collection rule, continuing its process of modernizing the regulation of the accounts receivable management industry. INDUSTRY EXPERTS SHARE REACTIONS TO DEBT COLLECTION RULE The Consumer Financial Protection Bureau on Friday released its long-awaited and much anticipated debt collection rule, well … The post Daily Digest – November 2.
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.
Nerd Wallet
NOVEMBER 2, 2020
November mortgage rates forecast Mortgage rates move unpredictably in the weeks after presidential elections — not always, but often enough to humble any forecaster who is asked to predict mortgage rates in November of an election year. In contrast, mortgage rates are predictable during the month before a presidential election. I said rates wouldn’t move.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Nerd Wallet
NOVEMBER 2, 2020
Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. This week’s episode starts with a discussion of how to create more financial stability in an unstable world. Saving more if you can is a good start, but also think about how you want to feel about your money, and consider creating. Liz Weston is a writer at NerdWallet.
Account Recovery
NOVEMBER 2, 2020
A District Court judge in Illinois has granted a defendant’s motion for summary judgment after it was sued for allegedly violating the Fair Debt Collection Practices Act because the plaintiff claimed that the defendant would not allow him to dispute a debt, despite call recordings that illustrate the opposite is what he was told. A … The post Judge Grants MSJ For Defense in FDCPA Dispute Case appeared first on AccountsRecovery.net.
Jimerson Firm
NOVEMBER 2, 2020
Lenders are responsible for servicing and liquidating all of the 7(a) loans in their portfolio. CDC’s are responsible for servicing 504 loans in their portfolio, but they will only be responsible for liquidating the loan based on its designation. Lenders and CDC’s must be cognizant about their responsibilities and authority in servicing and liquidating SBA loans because failure to do so properly may lead to formal enforcement actions by the SBA Office of Credit Risk Management.
Account Recovery
NOVEMBER 2, 2020
I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.
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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.
Nerd Wallet
NOVEMBER 2, 2020
Cardholders of the Marriott Bonvoy Brilliant™ American Express® Card are getting an incentive to do more of their holiday shopping with the nation’s biggest retailers. The card can earn an extra 6 points per $1 spent at Amazon, Walmart and Target, on up to $3,500 in spending, through Dec. 27, 2020. Combined with the usual 2X rewards you earn. Erin Hurd is a writer at NerdWallet.
Better Credit Blog
NOVEMBER 2, 2020
Have you failed to make payments on a debt that’s hanging over your head? Then you may start to hear from a company called Action Financial Services. Action Financial Services is a debt collection agency that may have been hired by the original owner of your debt. They have a reputation as being an aggressive and relentless collector. Unfortunately, that is not the only bad thing about being pursued by them.
Nerd Wallet
NOVEMBER 2, 2020
All My Sons Moving & Storage is a full-service moving company that’s handled local and long-distance relocations for more than 20 years. Based in Carrollton, Texas, it has locations in more than 80 cities. If you’re considering using its moving services, here are five things you need to know. 1. You need to put down. Javier Simon is a writer at NerdWallet.
UK debt collections
NOVEMBER 2, 2020
Frontline NHS nurses helping the fight against Coronavirus are being “hounded” by bailiffs for hospital car parking fees according to reports in the Daily Mirror. DCBL (Direct Collection Bailiffs Ltd) feature in Channel 5’s bailiff show ‘ Can’t pay? We’ll take it away ‘ and have been chasing nurses for unpaid fines for hospital parking.
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?
Nerd Wallet
NOVEMBER 2, 2020
Remember “certainty”? That feeling of knowing what is happening and what will happen next? Me neither. Yet many of us are looking for shreds of certainty regarding seemingly simple questions like, “Is it safe or responsible to get on an airplane right now?” While researching a detailed article on air travel safety, I spoke with. Sam Kemmis is a writer at NerdWallet.
Troutman Sanders
NOVEMBER 2, 2020
Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). In response, Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge.
Nerd Wallet
NOVEMBER 2, 2020
PayPal’s “Pay with Rewards” program allows holders of eligible credit cards to redeem their rewards through PayPal, wherever that service is accepted at checkout online. If you’re a frequent PayPal user, then linking your card to the service can make it easier and more convenient for you to access and use those rewards, especially if. Funto Omojola is a writer at NerdWallet.
Arbeit Software
NOVEMBER 2, 2020
There are both innate qualities and learned skills that can be observed in top performing debt collectors. Debt collection agency owner, Travis Irving of HRI Group, shared with us the skills & qualities that he sees most commonly in his top performers.
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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.
Nerd Wallet
NOVEMBER 2, 2020
The Bank of America® Platinum Plus® Mastercard® Business credit card is a no-frills, no-nonsense credit card for small-business owners. It’s certainly far from the best business credit card you’ll see; even if you’re not willing to pay an annual fee, you can do better. But if you’re looking for no annual fee with an attractive. Sally French is a writer at NerdWallet.
Arbeit Software
NOVEMBER 2, 2020
Last week, the CFPB released their final debt collection rules to implement the FDCPA ( all 600 pages of it !) As we breathe a sigh of relief along with the rest of the industry, we wanted to share our initial takeaways.
Nerd Wallet
NOVEMBER 2, 2020
The Chase Freedom Unlimited® offers cash-back rewards with a $0 annual fee, which might appeal to you if you’re cost-conscious. But it’s important to consider the full picture to make sure it’s the right card for you. For instance, some $0-annual-fee cards may not be worthwhile if it means missing out on valuable rewards or. Rebecca Lake is a writer at NerdWallet.
Public Citizen
NOVEMBER 2, 2020
On Saturday, we posted links to consumer advocates' reactions to the CFPB's new debt collection rules. Want to know how the industry sees the regulations, at least at first? Go here, to AccountsRecovery.net. Here's a hint: "there appeared to be no provisions or restrictions in the rule that should cause collection agencies to lose a lot of sleep, if any.
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.
Brown and Joseph
NOVEMBER 2, 2020
Introduction Drug overdose is now the leading cause of unintentional death in the U.S. Opioid abuse was declared a nationwide public health emergency in October 2017… The post The Insurance Industry’s Role in the Opioid Epidemic appeared first on Brown & Joseph, LLC.
Collection Industry News
NOVEMBER 2, 2020
The Eastern District of Texas recently denied a motion to dismiss for alleged violations of the Fair Debt Collection Practices Act (“FDCPA”), holding that a garnishment action initiated eight years after the plaintiff had obtained a default judgment was not subject to the FDCPA’s one-year statute of limitations provision because the default judgment was obtained in the wrong venue.
NCBA Law Practice Management Blog
NOVEMBER 2, 2020
Many law firms still operate with pen - and - paper time and billing system s ; but, that’s like a recipe for losing money. Of course , there’s no time like the present to change your ways, and recapture more of the money you make. There are two moves you can apply, in short order, to revise your time and billing practices , that will combine to change your (work) life: (1) Move to a single-entry system for billing; (2) Get a law practice management software system in place.
Collection Industry News
NOVEMBER 2, 2020
In Truckenbrodt v. CBE Grp., Inc., No. 2:19-cv-2870 (ERK) (SMG), (E.D.N.Y. Oct. 21, 2020) the court dismissed a suit brought under the Fair Debt Collections Practices Act (“FDCPA”) after the plaintiff conceded that he had not actually read the collections letter at issue. The plaintiff, John Truckenbrodt (“Truckenbrodt”), owes a debt that was referred to defendant CBE Group (“CBE”) for collections.
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