Top Creditor Collections Today Client Management Acquisition Content for Mon.Jan 24, 2022

BNPL Continues to Grow, as More Consumers Start Missing Payments

Account Recovery

JANUARY 24, 2022

The number of consumers using Buy Now, Pay Later services is on the rise, which means that more consumers are starting to miss their payments, according to the results of a survey that were released this month.

CFPB Filed A Judgment Against An Illinois-based Payment Processor

Collection Industry News

JANUARY 24, 2022

On January 18, the CFPB filed a proposed final judgment against an Illinois-based third-party payment processor BrightSpeed Solutions and its founder Kevin Howard (collectively, “defendants”), which ceased operations almost three years ago, settling claims that the defendants facilitated payments for telemarketing fraudsters targeting seniors.

Judgment

Judgment Acquisition Law Firms Financial Institution

7 Consequences of Not Paying Your Credit Card

Debt Guru

JANUARY 24, 2022

It’s stressful because you can’t pay it off… and you start to wonder, “What would happen if I just stop sending in payments?”. If you’ve ever missed a payment or paid it late, you know that your credit card company is quick to charge a late fee – especially if this isn’t your first time. Late payments can hurt your credit scores.

Lender

Lender Credit Card Debt Collection Agencies Collections Agency

Negotiation Tips to Make Settling with Your Debtor Easier

JMA

JANUARY 24, 2022

They will surely stop any overdue payment issues, right? If you run a business, you are probably well aware that the most ideal time to collect your debts is long before they become overdue. To help you do this, you make sure that your business has foolproof invoicing, client management and accounts processes.

Debtor

Debtor Client Management Collections

10 Ways to Improve Payment Collections with Salesforce

For finance teams using Salesforce’s powerful CRM technology, automation can transform accounts receivable processes, driving efficiency and delivering measurable results like cost savings, reduced customer churn, and lower DSO.

Collections

Take the Stress Out of Searching for Collection Agency Names

Taurus Collect

JANUARY 24, 2022

A client has repeatedly failed to make good on payment promises. A customer has failed to follow through with a payment plan. When invoices become overdue for payment according to your credit terms, your business is entitled to claim interest, as well as late payment costs. We Recover Costs and Interest.

Collection Agencies

Collection Agencies Collections Agency Collections Debtor

FTC Says D&B Engaged in Deceptive and Unfair Practices

Collection Industry News

JANUARY 24, 2022

According to the FTC’s complaint, D&B claimed that its CreditBuilder products allowed the business to have its payment history added to its credit report, which would improve the business’s scores and ratings. According to the FTC’s complaint, though, the company regularly failed to deliver on its promises about CreditBuilder.

Trade

Trade Acquisition Law Firms Government

Third Circuit Hears Oral Argument On FCRA “Pay Status” Cases

Collection Industry News

JANUARY 24, 2022

The court further pressed counsel for Trans Union on whether there is a material impact as to how to decide these cases based on the way that an account reaches a zero balance, either by transfer or payment.

Fair Debt Collection

Fair Debt Collection Lawyers Creditors Collections

Taking the hassle out of apprenticeships and for the credit and collections sector

CSA

JANUARY 24, 2022

They are also often unaware of the full range of financial incentives available, from one-off payments for taking on a new apprentice , to not having to make NI contributions f or apprentices under the age of 25.

Collections

Collections Trade Banks

When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

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. Are you finding some snags in your collections process? Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.

Collections

The Holder Rule and Attorneys’ Fees: The FTC Speaks

Troutman Sanders

JANUARY 24, 2022

Multiple courts nationwide have ruled that the Holder Rule’s recovery cap prevented courts from requiring holders to pay a plaintiff’s attorneys’ fees and costs over and above the plaintiff’s previous payments to the seller. See, e.g., Reyes v. Beneficial State Bank , No. BCV-17-100082 (Cal. 5, 2019), appeal docketed, No. F080827 (Cal.

Trade

Trade Retail Debtor Loans

CFPB Acting General Counsel addresses “confusion” caused by CFPB advisory opinion on earned wage access program

Collection Industry News

JANUARY 24, 2022

More specifically, he noted that the CFPB had expressly limited the AO’s application to EWA programs meeting all of the characteristics set forth in the AO and stated that “products that include the payment of any fee, voluntary or not, are excluded from the scope of the advisory opinion and may well be TILA credit.”

Consumer Credit

Consumer Credit Loans Collections Government