Tue.Jul 27, 2021

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

Account Recovery

ST. 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. The national survey, conducted by OnePoll and commissioned by TCN, reveals … The post TCN Consumer Survey Finds Americans Overwhelmingly Prefer to Interact with a Live Person When Dealing with Cust

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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. Some states even offer tax credits you can use on your federal tax return. These first-time home buyer assistance.

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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. A copy of the consent order … The post Conn. Regulator Fines Agency $10k For Collecting Without Proper License appeared first on AccountsRecovery.net.

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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.

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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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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. The law went into effect on July 1. The agencies filed … The post Hearing Today in Industry Case Against New Nevada Medical Collection Law appeared first on AccountsRecovery.net.

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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. The two new appointees — who must be confirmed by the state’s Senate — will replace Thomas Oldani and Thomas Matonican, whose terms on the board expired on June 30.

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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. Everything felt like an ordeal — packing my bag with a fluctuating weather forecast in mind, figuring. Sara Rathner writes for NerdWallet. Email: srathner@nerdwallet.com.

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

Account Recovery

CONN. REGULATOR FINES AGENCY $10K FOR COLLECTING WITHOUT PROPER LICENSE 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 … The post Daily Digest – July 27.

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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. Although some small-business accounting software solutions like QuickBooks include tools to help you manage accounts receivable, Randa Kriss writes for NerdWallet.

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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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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? A District Court judge in Michigan opted to place blame where it lies, which was not with a collection agency that reported to the credit … The post Judge Grants MSJ For Defense in FDCPA Case Over Disputed Debt appeared first on AccountsRecovery.net.

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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 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. Microchip shortages, pent-up demand and. Philip Reed writes for NerdWallet.

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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.

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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. These are our picks for the best mobile apps for business. Rosalie Murphy writes for 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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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. With this deadline fast approaching, the Biden administration announced a new mortgage relief plan[1] on July 23 to provide relief for individuals with federally-backed mortgages who might soon face the possibility of losing their homes.

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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. Trucking accounting software makes it easy to manage operations, with mileage tracking, flexible billing, fleet management, dispatching services and International Fuel Tax Agreement, Kelsey Sheehy writes for NerdWallet.

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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. Despite so-called Freedom Day coming and going, financial uncertainty in the UK is set to continue shaping the economic outlook. According to the Financial Conduct Authority's (FCA) latest analysis , it’s estimated that 52% of adults (27 million) in the UK could now be considered as f

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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? This guide explores the products and costs of one of the biggest and best names in small-business accounting: QuickBooks. If you’re shopping. Katherine Fan writes for 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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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.

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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. If you telecommute, there are a number of credit cards that have helpful features, no matter if you’re working from home or on the road. Josh Garber writes for NerdWallet. Email: travel@nerdwallet.com.

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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. The California Attorney General has stated that the submission of a notice of noncompliance created through the tool may trigger the 30-day cure period

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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. Lemonade’s business model also. Sarah Schlichter writes for NerdWallet.

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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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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. Institutional loans, so called because they are originated by your college, differ. Colin Beresford writes for NerdWallet.

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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. In the hearing, titled “ Banking the Unbanked: Exploring Private and Public Efforts to Expand Access to the Financial System ,” the Subcommittee reviewed: H.R. _, the “ Public Banking Act of 2021 ,” which would (i) establish a public banking incubator program that would facilitate the c

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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. June Casagrande writes for NerdWallet. Email: travel@nerdwallet.com.

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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.