Fri.May 14, 2021

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House Passes Debt Collection Reform Bill

Account Recovery

The House of Representatives yesterday passed H.R. 2547, the Comprehensive Debt Collection Improvement Act, a collection of bills aimed at reforming how debts are collected in the United States. The bill passed by a vote of 215-207 and now heads to the Senate for its consideration. The bill, which was officially sponsored by Rep. Maxine … The post House Passes Debt Collection Reform Bill appeared first on AccountsRecovery.net.

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Timing Matters When Collecting Past-Due Accounts Receivable

Enterprise Recovery

Accounts receivable refers to the amount due from customers for sales transactions using credit, financing, or regular timed retainer payments. When measuring and collecting A/R, your business gets a clearer view of dependable cash flow and has the data to make informed business decisions such as investments and hiring. To collect on past due receivables effectively, the sooner you're aware of non-payment, the more likely you can recover what's owed.

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Banks Plan on Issuing Cards to People With No Credit Scores

Account Recovery

A day after it was reported that more consumers are paying off their credit balances than at any point this century, a number of financial institutions are planning on sharing data to help consumers without credit scores gain access to credit cards and other types of loans, according to a published report. The move, part … The post Banks Plan on Issuing Cards to People With No Credit Scores appeared first on AccountsRecovery.net.

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Money Management: 4 Tips for Mastering Your Finances

Nerd Wallet

What is money management, exactly? It’s a plan for your money so you can make the most of it. This plan typically involves budgeting and saving money, avoiding or reducing debt and investing in your future. If learning how to manage your money sounds intimidating or stressful, take it one step at a time. Below. NerdWallet writes for NerdWallet. Email: articles@nerdwallet.com.

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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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Calif. Senate Passes Bill Requiring Additional Disclosures for Collectors, Debt Buyers

Account Recovery

The California state Senate yesterday passed SB 531, a bill that would require the original creditor or owner of a debt to notify a consumer within five days of the sale or assignment of the debt to someone else, while also giving consumers the right to request certain information about a debt from debt collectors, … The post Calif. Senate Passes Bill Requiring Additional Disclosures for Collectors, Debt Buyers appeared first on AccountsRecovery.net.

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Daily Digest – May 14. House Passes Debt Collection Reform Bill; Calif. Senate Passes Bill Requiring Additional Disclosures

Account Recovery

HOUSE PASSES DEBT COLLECTION REFORM BILL The House of Representatives yesterday passed H.R. 2547, the Comprehensive Debt Collection Improvement Act, a collection of bills aimed at reforming how debts are collected in the United States. The bill passed by a vote of 215-207 and now heads to the Senate for its consideration. CALIF. SENATE PASSES … The post Daily Digest – May 14.

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What to Do If Your Refund Is Delayed and Your Bills Aren’t

Nerd Wallet

The IRS is behind on processing tax returns, due to staff shortages and other complications. This delay could be holding up the money you were counting on to cover your bills. Many people were looking to their tax refunds to do some major lifting, according to a NerdWallet survey published in February. Among filers expecting. Laura McMullen writes for NerdWallet.

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RMAI Opposes Delay of Regulation F

Account Recovery

RMA International sees no reason the effective date of Regulation F — the Consumer Financial Protection Bureau’s debt collection rule — needs to be delayed for 60 days as proposed by the regulatory, because its members will be ready to comply with the rule on November 30, as originally proposed. If a delay is needed, … The post RMAI Opposes Delay of Regulation F appeared first on AccountsRecovery.net.

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Credit Cards With Crypto Rewards

Nerd Wallet

Among rewards credit cards, the most common incentives remain cash back, points and miles. But credit cards that earn crypto are beginning to crop up everywhere. These products allow you to either earn cryptocurrency directly through your spending or convert rewards into cryptocurrency. Whether you want to join the crypto bandwagon or just add to. Kimberly Palmer 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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Aargon Agency Partners with Interactions to Accelerate the Digital Transformation of its Contact Center

Account Recovery

FRANKLIN, MA – May 13, 2021 – Interactions, one of the world’s largest standalone conversational artificial intelligence (AI) companies, today announced that Aargon Agency, a leading accounts receivable management (ARM) company that works with major hospital systems and medical offices, is deploying an Interactions Virtual Collection Agent (VCA) to drive revenue recovery while streamlining the customer and … The post Aargon Agency Partners with Interactions to Accelerate the Digital Transf

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17 Restaurant Ideas for 2021

Nerd Wallet

While starting a business in any industry can be a leap of faith to a certain extent, opening a restaurant is seen as particularly risky. And while restaurants have a higher success rate than is commonly thought, about 17% of all restaurants fail in the first year. To keep your new restaurant from being one of. Nina Godlewski writes for NerdWallet. Email: ngodlewski+wpguestuser@nerdwallet.com.

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The Crystal Anniversary: Chapter 15 Turns 15

PBWT

In recognition of the 15th anniversary of the passage of chapter 15 of the Bankruptcy Code, the New York City Bar Association’s Bankruptcy & Corporate Reorganization Committee hosted a webinar on May 12, 2021 to discuss the current state of chapter 15 cases and potential, corresponding and significant future developments. [1] Several dozen participants joined a panel of distinguished leaders in the field: the Honorable Allan Gropper, former United States Bankruptcy Judge for the Southe

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How Do Limited Liability Companies (LLCs) Pay Taxes?

Nerd Wallet

This article has been reviewed by tax expert Erica Gellerman, CPA. When choosing a business entity for your company, taxes are paramount. The amount of taxes you’ll owe to the government is directly connected to your business entity structure. A limited liability company (LLC) is a type of business that is registered with the state and provides. Priyanka Prakash 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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Michigan Workplaces May Return to In-Person Work on May 24 Under “MI Vacc to Normal” Plan

Fraser

Michigan workers may return to in-person work in all sectors of business on May 24 now that 55 percent of residents age 16 or older have received at least one dose of a COVID-19 vaccine. Under Governor Whitmer’s “ MI Vacc to Normal ” plan, Michigan Department of Health and Human Services COVID restrictions are relaxed or eliminated once certain vaccination thresholds are met.

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3 Exclusive Honeymoon Destinations You Can Visit Using Travel Points and Miles

Nerd Wallet

For many, a honeymoon is a trip of a lifetime, one in which no expense should be spared. But as the upcoming nuptials start heading (way) over budget, conversations could turn to post-wedding cost-cutting, including that dream honeymoon (eek!). Thankfully, not all honeymoon-related plans require cash. Some exclusive honeymoon destinations are possible to visit using.

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What is a financial inventory in bankruptcy?

Roths Child Law

People who are filing for bankruptcy have to take a long look at their finances. It shouldn’t surprise you, then, that you have to fill out a financial inventory when you file your bankruptcy petition. The document lists out several financial matters so that the court can ensure you qualify for bankruptcy. . As you take a look at your financial situation, you might be able to start to plan how you can handle things as you work through bankruptcy.

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Former Simple Customers Undergo Rough Transition to BBVA

Nerd Wallet

In early 2021, popular financial institution Simple announced that it would be closing and that all customer accounts would become bank accounts under its parent bank, BBVA. The official transition happened Saturday, May 8 — and things haven’t gone smoothly. Not long after the account transition, Simple-turned-BBVA customers started to notice problems.

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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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What is a financial inventory in bankruptcy?

Roths Child Law

People who are filing for bankruptcy have to take a long look at their finances. It shouldn’t surprise you, then, that you have to fill out a financial inventory when you file your bankruptcy petition. The document lists out several financial matters so that the court can ensure you qualify for bankruptcy. . As you take a look at your financial situation, you might be able to start to plan how you can handle things as you work through bankruptcy.

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Why a Credit Card’s Looks Aren’t Everything

Nerd Wallet

The credit card you pluck out of your wallet can make as much of a statement as the purse or pants you keep your wallet in. With cards touting sleek metal designs, luxury perks and loyalty program status upgrades, simply carrying a flashy card can make you look like the kind of person who has. Sara Rathner writes for NerdWallet. Email: srathner@nerdwallet.com.

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Judgment on Default or Judgment on the Merits? Why It Matters in NYS Debt Collections.

FFGN COLLECT NY

When calling a New York debt collection lawyer for help pursuing or defending a judgment obtained in New York or elsewhere, one of the top questions asked is whether the judgment was obtained on the merits or on default. The rationale behind the question is that when it comes to New York City, the distinction truly makes a difference. Unlike New Jersey, which accepts judgments obtained from other states regardless of whether they were obtained on the merits or on default, New York does not.

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Small-Business Statistics: By the Numbers as of 2021

Nerd Wallet

Have you ever wondered how many small businesses are owned by women? Maybe you’re curious what percentage of new businesses make it to the 10-year mark. Or how the coronavirus has impacted small businesses across the country. Federal agencies like the Small Business Administration, the Census Bureau and the Bureau of Labor Statistics keep tabs. Kelsey Sheehy 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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How to Start a Gift Basket Business: Step-by-Step Guide

Nerd Wallet

Many first-time business owners get started because they’ve found something they love to do and they want to make money for themselves. Selling gift baskets is a highly rewarding, fun business. But first, you have to learn how to start a business. In this guide, we’ll walk you through the process of how to start. Sally Lauckner writes for NerdWallet.

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QuickBooks Desktop Pro Review for 2021

Nerd Wallet

As Intuit makes the push into cloud-based accounting software with QuickBooks Online, QuickBooks Desktop Pro — sometimes referred to as QuickBooks Desktop or QuickBooks Pro — is still alive and well. In fact, Intuit adds new features to QuickBooks Desktop Pro every year. While mostly cosmetic at this point, these features keep it relevant, even. Billie Anne Grigg writes for NerdWallet.

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14 Profitable Ecommerce Business Ideas for 2021

Nerd Wallet

The gold rush is back. But this time there’s no need to dip into chilly rivers and streams. The current gold rush is online and accessible from the comfort of your couch. If you’re looking to find your fortune and start a new business, why not consider some of the most profitable ecommerce business ideas? These. Jacqueline DeMarco writes for NerdWallet.

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Your Guide to Redeeming Southwest Points

Nerd Wallet

Southwest Rapid Rewards is one of the best frequent flyer programs out there for no-frills travelers who prefer simplicity. That’s largely due to the fact that its points are a delightfully low-maintenance currency. Rapid Rewards points never expire, and the value of Rapid Rewards points closely mirrors cash prices for airfare; you don’t need to. Meg Lee writes for NerdWallet.

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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.