Tue.Jan 24, 2023

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Judge Dismisses FCRA, FDCPA Case Over ‘Laundry List’ of Violations

Account Recovery

A Magistrate judge in California has recommended that a defendant’s motion to dismiss be granted, although saying the plaintiff should have the opportunity to submit an amended complaint, in a Fair Debt Collection Practices Act and Fair Credit Reporting Act case that contained a “laundry list” of alleged violations without any factual allegations to substantiate … The post Judge Dismisses FCRA, FDCPA Case Over ‘Laundry List’ of Violations first appeared on AccountsRecover

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Home Shoppers to Face High Rates, Economy With Resolve

Nerd Wallet

Elizabeth Renter writes for NerdWallet. Email: elizabeth@nerdwallet.com. Twitter: @elizabethrenter. The article Home Shoppers to Face High Rates, Economy With Resolve originally appeared on NerdWallet.

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Healthcare Billing Statements Source of Frustration for Consumers: Survey

Account Recovery

Fewer than one-third of individuals feel extremely confident that they would be able to identify an error on a medical bill, and half of those individuals who participated in a survey have had bills with incorrect charges of at least $200, according to the results of a recently released survey. For many companies in the … The post Healthcare Billing Statements Source of Frustration for Consumers: Survey first appeared on AccountsRecovery.net.

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Can an Insurance Broker Be Liable if a Loss Is Not Covered by Insurance?

Jimerson Firm

What happens when, due to a negligent error by the insurance broker, a business suffers property damage that is either not covered, or not fully covered, by what the insured thought was an insurance policy they purchased through the broker to cover the risk? Can the insured look to its insurance broker to cover the uninsured loss? In certain types of circumstances, the answer may be yes, and the insurance broker may be found liable to the insured for such an uncovered loss.

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

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.

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Complaint Accuses Collector of Attempting to Collect on Settled Debt

Account Recovery

EDITOR’S 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 … The post Complaint Accuses Collector of Attempting to Collect on Settled Debt first appeared on AccountsRecovery.net.

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Bill Introduced to Keep Evictions Off Credit Reports

Account Recovery

Amidst all the talk about credit reporting and what should and should not be on a consumer’s credit report, a bill has been introduced in the House of Representatives that would amend the Fair Credit Reporting Act in order to prohibit including evictions due to the COVID-19 pandemic from consumers’ credit reports. A copy of … The post Bill Introduced to Keep Evictions Off Credit Reports first appeared on AccountsRecovery.net.

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What Is a Beneficiary? Types and How to Choose

Nerd Wallet

Dalia Ramirez writes for NerdWallet. Email: dramirez@nerdwallet.com. The article What Is a Beneficiary? Types and How to Choose originally appeared on NerdWallet.

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Daily Digest – January 24. Complaint Accuses Collector of Trying to Collect on Settled Debt; Healthcare Billing Statements Frustrating to Consumers

Account Recovery

COMPLAINT ACCUSES COLLECTOR OF TRYING TO COLLECT ON SETTLED DEBT A complaint has been filed in federal court in Florida accusing a defendant of violating the Fair Debt Collection Practices Act by attempting to collect on a debt that had already been settled in a separate lawsuit against a different collection operation. More details here. … The post Daily Digest – January 24.

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Great News to Share with Your VITA Volunteers to Get Your Tax Season Going!

Prosperity Now

In case you haven’t heard, we have GREAT news for the start of tax season: The omnibus spending bill for

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

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.

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Digital Operations Impact on Debt Collection, from Team Structure to ROI

PDC Flow

Justin Franklin, Vice President of Global Strategy and Execution at Cedar Financial recently sat down for an interview with PDCflow’s Dawn Updike. They discussed how digital operations impact team structures and revenue, measuring ROI and more. Like other Accounts Receivable professionals, Franklin found his career by accident when he accepted a collection job after college in 2005.

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Why Is the Debt Ceiling Back in the News — and Should I Care?

Nerd Wallet

Anna Helhoski writes for NerdWallet. Email: anna@nerdwallet.com. Twitter: @AnnaHelhoski. The article Why Is the Debt Ceiling Back in the News — and Should I Care? originally appeared on NerdWallet.

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Is Inflation Impacting Debt Collection?

Direct Recovery

There has been an unprecedented amount of talk about inflation on all the cable news channels over the past few months, and there is no doubt that higher prices are affecting almost every aspect of our lives. The debt collection industry is certainly not immune to this situation, but how much is inflation actually impacting debt collection on a real level?

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7 Things to Know About Grand Floridian Club Level

Nerd Wallet

Carissa Rawson writes for NerdWallet. Email: articles@nerdwallet.com. The article 7 Things to Know About Grand Floridian Club Level originally appeared on NerdWallet.

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ERM Program Fundamentals for Success in the Banking Industry

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?

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Understanding the Pros and Cons of Early Payment: A Guide for Debtors and Creditors

JMA

When it comes to debt collection, early payment refers to a situation in which a debtor chooses to pay off their outstanding balance before the due date or before it has been sent to a collection agency. The decision to make an early payment on debt should be carefully evaluated by both the borrower and. Read more » The post Understanding the Pros and Cons of Early Payment: A Guide for Debtors and Creditors appeared first on JMA Credit Control.

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Nerd Wallet - Untitled Article

Nerd Wallet

Get quotes in minutes. Fill in a few quick details about yourself to start exploring life insurance policies. Compare options that fit your life. Customize what you’re looking for so you can see policies that best fit your exact situation. Protect the people who depend on you. Life insurance provides those who depend on. NerdWallet writes for NerdWallet.

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CFPB Seeks Public Comment on the Credit Card Market

Troutman Sanders

On January 24, the Consumer Financial Protection Bureau (CFPB) announced it is seeking public comment on how the consumer credit market is functioning as part of its biennial review required by the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act). The CFPB will be accepting comments until April 24. The CARD Act directs the CFPB to undertake a comprehensive review of the credit card industry to determine whether regulatory adjustments are needed.

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How Much Does a Cruise to the Bahamas Cost?

Nerd Wallet

Ramsey Qubein writes for NerdWallet. Email: travel@nerdwallet.com. The article How Much Does a Cruise to the Bahamas Cost? originally appeared on NerdWallet.

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You Put in a Full Work Week. Shouldn’t Your Collections Software Do the Same?

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.

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Overview of a Trust Beneficiary’s Remedies Under the Florida Trust Code for Breach of Trust

Jimerson Firm

Trusts are a common estate planning vehicle, in which property is held in a trust and administered by the trustee for the benefit of the beneficiaries of the trust. See Miller v. Kresser , 34 So. 3d 172 (Fla. 4th DCA 2010). The Florida Trust Code defines a trust beneficiary as “a person who has a present or future beneficial interest in a trust.” Fla.

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The Wait is Over: New York Department of Financial Services Releases Debt Collection Rule Amendments

Troutman Sanders

On December 28, 2022, the New York Department of Financial Services released its debt collection rule amendments to 23 NYCRR 1, the regulation titled “Debt Collection by Third-Party Debt Collectors and Debt Buyers.” The initial proposed amendments were opened to public comment in late 2021. The rule amendments are scheduled to take effect in late June 2023.

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Florida Limited Liability Companies: Six Key Considerations for the LLC Operating Agreement

Jimerson Firm

Are you thinking about forming a limited liability company (“LLC”) in the State of Florida? If so, you should give strong consideration to having a written operating agreement in place to govern that LLC. That agreement will serve as the play book for your company and reduce potential conflicts amongst owners/members. Under the Florida Revised Limited Liability Company “Act”, the parties to an operating agreement have wide latitude in drafting that agreement.

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Introducing Our Incident Response Interactive Map

Troutman Sanders

Companies dealing with a data incident confront an uneven landscape and requirements that can differ from state to state. It is easy to feel lost. Find your way with Troutman Pepper’s new Incident Response Interactive Map, created by our cybersecurity attorneys. With a simple and intuitive user experience, our U.S. map provides state-by-state definitions, notification requirements, deadlines, and statutory references.

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The Power of Storytelling in Risk Management

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.

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UK Credit Cards: More Consumers Missing Second, Third Payments

Fico Collections

Home Blog FICO UK Credit Cards: More Consumers Missing Second, Third Payments FICO's monthly report on UK credit cards shows some financial resilience on the part of consumers, but a trend toward payment slippage Darcy Sullivan Tue, 11/10/2020 - 12:17 by Liz Ruddick Principal Consultant expand_less Back To Top Tue, 01/24/2023 - 20:35 How was spending on UK credit cards in the run-up to Christmas — and what does it say about consumers' financial health?

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Tax Season Debt Collection Strategies and Why They Matter

Taurus Collect

It’s tax season, and consumers across the country are filing their taxes in order to get the return they’ve been hoping for. But while it can be exciting to think about that refund cheque hitting your bank account soon, there’s another equally pressing reason why you should pay attention this tax season – debt collection! Overview of Debt Collection Companies and Their Tactics Debt collection companies are organisations specialising in the pursuit of money owed to creditors.

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Lottery winner jailed due to £12k unpaid debt

UK debt collections

A NATIONAL lottery winner who scooped a quarter of a million pounds has been jailed for 12 months after failing to pay a £12,000 debt. Gerry Donaldson, 52, won £250,000 on a lottery scratch card in 2010 and invested some of his winnings opening a pet store near his home in Hawick in the Scottish Borders. The venture soon folded and when he was convicted of drugs offences, including cultivating cannabis within his home, legal proceedings were taken against him under the Proceeds of Crime Act.

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Journal Entry #2: Challenging Myself to Learn More

NACM

As I continue along in my Business Credit Principles journey, the concepts are starting to stick. Each concept directly or indirectly ties into the bigger picture of B2B credit. As I approach the halfway mark of the course, I am diving into the legal side of credit along with the historical context of how and when certain laws were formed.I've noti.

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How to Attract Multiple Generations to Open New Accounts and Apply for Loans

The experiences of every generation are characterized by their behaviors involving finances. Understanding these attitudes and using them to inform marketing messages enables community banks, regional banks and credit unions to better serve their customers. This entertaining and informative eBook will help your financial institution uncover the best practices when it comes to appealing to mass audiences.