Account Recovery

DECEMBER 4, 2024

The Court of Appeals for the Sixth Circuit has affirmed a ruling in favor of a defendant in a Fair Debt Collection Practices Act case that was sued for allegedly not informing the plaintiff that the underlying debt in question was time-barred, ruling that the statute of limitations for the debt had not yet expired. The background: The case originated when the plaintiff, who had accrued several unpaid medical bills between 2011 and 2015, discovered that these debts had been reported to the credit

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Fair Debt Collection Collection Agencies Collections Agency Collections 130

Consumer Finance

DECEMBER 4, 2024

The CFPB is distributing $1.8 billion to 4.3 million consumers charged illegal junk fees by credit repair companies including Lexington Law and CreditRepair.com.

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Credit Corp

DECEMBER 4, 2024

Debt consolidation may temporarily lower your credit score due to hard inquiries and changes in credit utilization, but consistent, on-time payments can help improve it over time. Carrying debt, whether its through personal loans, credit cards, mortgages, or student loans, is common in America. And if youre struggling to keep up with your payments, youre not alone.

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Debt Consolidation Consolidate Debt Credit Card Debt Loans 52

Consumer Finance

DECEMBER 4, 2024

The CFPB took action against student lender Climb Credit and its investors, including 1/0 (“One Zero”), which if entered will require the companies to stop making representations in their advertising about the quality of the training programs at their partner schools and graduates’ hiring rates and salaries.

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Lender Student loans Student Loans Loans 119

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

Account Recovery

DECEMBER 4, 2024

Appeals Court Affirms Ruling for Defendant in FDCPA Case Over Status of Debts CFPB Seeks to Expand Scope of FCRA: Data Brokers Now in the Crosshairs Judge Grants MSJ for Defendant in FCRA Case Over Dismissal of Collection Suit 20 Companies Seeking Collection Talent WORTH NOTING: Here is some help if you are notoriously bad at buying presents for people … A list of the 10 best TV shows of 2024 (I can vouch for number one which is the only one on the list I saw) … If you were taking a

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Collections 130

Account Recovery

DECEMBER 4, 2024

During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers. This is merely meant to be a service to aggregate industry job opportunities into one convenient location.

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Accounts Receivables Management Collections 130

True Accord

DECEMBER 4, 2024

While many financial service institutions can offer basic payment portals, these are often limited when it comes to collecting on delinquent accounts. TrueAccord delivers a robust difference. Self-serve options should be a key part of any collections operation. In fact, research from McKinsey found that consumers who digitally self-serve resolve their debts at higher rates, are significantly more likely to pay in full, and report higher levels of customer satisfaction than consumers who pay via

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Collections Financial services Creditors 111

Account Recovery

DECEMBER 4, 2024

A District Court Judge in Michigan has granted a defendant’s motion for summary judgment in a Fair Credit Reporting Act case, ruling that the defendant did not violate its obligations under the law by continuing to report a disputed debt. The background: The case began when the plaintiff disputed a debt reported by the defendant, a major bank.

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Judgment Banks Collections 130

UK debt collections

DECEMBER 4, 2024

The Government has announced the launch of a new Fair Payment Code aimed at tackling late payments, with research showing that SMEs are on average owed £22,000 a year. It comes on top of an earlier announced consultation which will investigate the scale of the problem and best solutions. Tackling Commercial Late Payment The code, overseen by the Small Business Commissioner Liz Barclay, introduces a gold, silver, and bronze system to reward best payment practices and help smaller firms identify r

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Banks Government Trade Lender 96

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

Account Recovery

DECEMBER 4, 2024

The Consumer Financial Protection Bureau has proposed a sweeping new rule that seeks to bring data brokers under the Fair Credit Reporting Act. This rule would classify these brokers as consumer reporting agencies (CRAs), subjecting them to stringent requirements. Why it matters: The CFPB aims to curb what Director Rohit Chopra calls “widespread evasion” of the FCRA by data brokers who often sell personal data without proper oversight, potentially exposing consumers to fraud, identit

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