Tue.Jul 27, 2021

6 reasons why you MUST ask for a part payment.

Collect More

Everywhere I go, everyone I talk to, every business that I help I recite my mantra: “What is the absolute most you can pay today?” ” These 9 words are the reason we collect millions of dollars every year and teach others to do the same. Most people have the same limited mindset- full amount or zero. Everything or nothing. Almost nobody thinks about that enormous middle section- part payments. Something, not everything, instead of nothing.

TCN Consumer Survey Finds Americans Overwhelmingly Prefer to Interact with a Live Person When Dealing with Customer Service Reps

Account Recovery

GEORGE, Utah – July 27, 2021 – TCN, Inc., a global provider of a comprehensive cloud-based call center platform for enterprises, contact centers, BPOs and collection agencies, today released the results of its inaugural “Consumer Insights about Customer Service” survey of American consumers.

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Automation Solutions: How to Identify Areas of Opportunity in AR

PDC Flow

How much of your staff’s time is spent doing repetitive tasks? How much of that time could they devote to more important issues? Automating these simple processes streamlines day-to-day responsibilities.

Conn. Regulator Fines Agency $10k For Collecting Without Proper License

Account Recovery

A collection agency has agreed to pay a $10,000 fine as well as nearly $3,000 in back licensing fees in a consent order entered into with the Connecticut Department of Banking after the agency was alleged to have operated in the state for seven years without the proper license.

First-Time Home Buyer Programs by State

Nerd Wallet

Exploring local and national first-time home buyer assistance programs is an important step in the journey to homeownership. Many state housing authorities combine closing cost and down payment assistance programs with mortgages that have favorable interest rates.

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Hearing Today in Industry Case Against New Nevada Medical Collection Law

Account Recovery

A hearing is scheduled for this afternoon in before a federal judge in Nevada courtroom attorneys representing a dozen collection agencies and ACA International will seek to obtain a temporary restraining order blocking legislation that governs how medical debts are collected in the state.

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Michigan Gov. Names Pair to Collection Practices Board

Account Recovery

Michigan Gov. Gretchen Whitmer appointed a pair of industry professionals to represent the accounts receivable management industry on the state’s Collection Practices Board.

How long do you have to pay back bills after the moratorium lifts?

Albuquerque Law

In the height of the COVID-19 pandemic and ensuing shutdowns, moratoriums on rent and utility bills went into place across the country. This eased the financial burdens and stress that many households faced during this time. Even if you could not make payments, landlords could not evict you and utility companies would not shut off your electricity, gas or other services. However, the New Mexico Public Regulation Commission voted in May to end the moratoriums on utilities. So, what happens next?

Loans 63

Daily Digest – July 27. Conn. Regulator Fines Agency $10k; Judge Grants MSJ in Case Over Disputed Debt

Account Recovery

Best Accounts Receivable Software for 2021

Nerd Wallet

Accounts receivable software can help you track invoices and collect the money that customers owe your business. The best options will help you streamline and automate these processes, allowing you to get paid faster and better manage cash flow.

Judge Grants MSJ For Defense in FDCPA Case Over Disputed Debt

Account Recovery

At the end of the day, all you can control are your own actions. If you ask someone to do something and they don’t do it, is that your fault?

It’s the Worst Time to Buy a Car — But What If You Have To?

Nerd Wallet

The same thing that happened with toilet paper last year — shortages and panic buying — is now happening with cars. “In In my 28 years in the business, I’ve never seen anything like this,” says Oren Weintraub, president of Authority Auto, a concierge car-buying service in the Los Angeles area.

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Biden Administration Announces Mortgage Relief as Foreclosure Moratorium Comes to an End

Burr Forman

In just a few days, on July 31, 2021, the national moratoriums on residential evictions and foreclosures are set to expire.

Travel Is Complicated Now. Here Are 5 Ways to Stress Less

Nerd Wallet

As someone who, before 2020, went on multiple domestic and international trips each year with relative ease, I was surprised at how overwhelming it was to get on a plane for the first time in nearly 500 days.

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CFPB Releases Online Tool to Help Renters and Landlords Access Federal Assistance

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today released an online tool to help renters and landlords impacted by the pandemic easily find and apply for payment assistance for rent, utilities and other expenses. Press release

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Best Accounting Software for Trucking Companies

Nerd Wallet

Trucking companies have unique bookkeeping needs rarely met by traditional small-business accounting software like QuickBooks. Rather than bend those programs to work for your business, choose one built specifically for your industry.

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How long do you have to pay back bills after the moratorium lifts?

Albuquerque Law

In the height of the COVID-19 pandemic and ensuing shutdowns, moratoriums on rent and utility bills went into place across the country. This eased the financial burdens and stress that many households faced during this time. Even if you could not make payments, landlords could not evict you and utility companies would not shut off your electricity, gas or other services. However, the New Mexico Public Regulation Commission voted in May to end the moratoriums on utilities. So, what happens next?

Loans 40

Best Accounting and Bookkeeping Apps for Small Business

Nerd Wallet

Bookkeeping is an important part of running a small business, but it can be time-consuming and labor-intensive. An easy-to-use bookkeeping app can make it easier to keep track of transactions, document expenses and share information with your bookkeeper or accountant while on the go.

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Master Debt Collection Now – Before It’s Too Late

Fico Collections

I’ve often said that if you need to get really good at collections now, it may already be too late. The time to invest and improve is before you’re facing a debt tsunami. And there are signs that one is coming now.

How Much Does QuickBooks Cost?

Nerd Wallet

When it comes to running a business, tracking your revenue and expenses is crucial for your bottom line. Accounting software is designed to help you do just that — but at what cost?

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Major CCPA Impacts Stem From California AG Updates

Collection Industry News

Source: site. Monday, July 26, 2021. In an effort to help consumers bring concerns of noncompliance with the California Consumer Privacy Act (CCPA) to covered businesses, the California Attorney General has created a tool to assist consumers with drafting notices of noncompliance that can be sent to businesses that may have violated the CCPA.

Best Credit Cards for Remote Workers

Nerd Wallet

There’s been a major shift to remote work over the last few years, allowing employees to work from home or from destinations that they might otherwise visit only on vacation.

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What Is Bank Verification and How to Choose a Method for a Lending Business

Micro Bilt

More lending businesses are using ACH payments as a payment method, but they need bank verification to mitigate potential risks. Keep reading to learn more. Banking and Finance

Banks 40

Lemonade Homeowners Insurance Review 2021

Nerd Wallet

When it comes to home insurance, Lemonade works differently than other companies. To get a policy, you’ll interact with a chatbot called Maya rather than an agent. To file a claim, you’ll submit information and video through the company’s app — and you might get a payout within a few seconds.

Trade Groups File Summary Judgment Motion In Texas Lawsuit Challenging CFPB Loan Rule That Is Payday

Collection Industry News

Source: site. The industry trade teams challenging the CFPB’s rule that is final Payday, Vehicle Title, and Certain High-Cost Installment Loans (the Rule) have filed a movement for summary judgment. The movement follows the filing of a complaint that is amended the trade teams centered on the Rule’s re payments provisions while the filing of a response to your Amended grievance because of the CFPB.

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What Is an Institutional Loan?

Nerd Wallet

Institutional loans are a type of financial aid that colleges lend directly to their students. Students or their parents may be offered an institutional loan to fill the gap between the federal aid they are eligible to receive and the cost of attendance.

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House Financial Services Subcommittee Considers Proposals To Expand Access To Banking Services

Collection Industry News

Source: site. The U.S. House Financial Services Subcommittee on Consumer Protection and Financial Institutions considered proposed legislation to expand access to financial services for underserved communities.

How to Island Hop in Hawaii

Nerd Wallet

You can fly from the Big Island of Hawaii to Maui in just 33 minutes. From Maui, Oahu is just 37 minutes away. To get from Oahu to Kauai, it’s another short 37-minute flight. With the major islands so close together, surely you can island hop to experience Volcanoes Park on the Big Island, Pearl.

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7th Cir. Rejects FCRA Claims Alleging Insufficient Investigation Into Ownership Of Debt

Collection Industry News

Source: site. The U.S. Court of Appeals for the Seventh Circuit recently affirmed judgments entered in separate cases consolidated on appeal in favor of several credit reporting agencies rejecting consumers’ claims of violations of the federal Fair Credit Reporting Act (FCRA).

‘All-In’ 36% Rate Cap Would Reduce Access To Credit For Millions

Collection Industry News

Source: site. Legislation that would cap all fees and interest at 36% would make it more difficult for many consumers to obtain credit, CUNA and other organizations wrote Senate Banking, Housing, and Urban Affairs Committee leadership Friday. The letter was sent for the record of a committee hearing on legislation extending the Military Lending Act’s all-in 36% rate cap for consumers.

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