Tue.Aug 30, 2022

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Collector Sued for Not Identifying Current Creditor in MVN

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 Collector Sued for Not Identifying Current Creditor in MVN appeared first on AccountsRecovery.net.

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40% Say Their Financial Health Is Worse Now Than Pre-Pandemic

Nerd Wallet

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Between a continuing global pandemic and the highest annual inflation in four decades, many Americans’ finances have suffered.

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Rising Utility Debts Causing More Problems for Consumers

Account Recovery

Companies in the accounts receivable management industry that collect on unpaid utility debts should be preparing for a “tsunami of shutoffs” and those that do not collect this type of debt may want to consider doing so, following a series of published reports that spotlight just how many people are behind on their payments and … The post Rising Utility Debts Causing More Problems for Consumers appeared first on AccountsRecovery.net.

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Medigap Plan G vs. Plan N: Which Is Best?

Nerd Wallet

Medigap Plan G is the most comprehensive Medicare Supplement Insurance plan that’s available for purchase by all Medicare members. Medigap Plan N covers a bit less, but its premiums are lower, too. Premiums aren’t the only cost you’ll need to consider, though. Medigap Plan N requires copays for certain office and emergency visits, so whether. Alex Rosenberg writes for NerdWallet.

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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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The Difficult Choices People are Making Because of Higher Healthcare Costs

Account Recovery

The high cost of healthcare has a lot of Americans making difficult choices, and many are choosing to cut back on driving, eating, and keeping their lights on to cover their medical debts, according to the results of a nationwide poll. Nearly 100 million Americans — 38% of all adults — have either delayed or … The post The Difficult Choices People are Making Because of Higher Healthcare Costs appeared first on AccountsRecovery.net.

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Daily Digest – August 30. Judge Grants MTD in FDCPA Case; Rising Utility Debts Causing More Problems for Consumers

Account Recovery

JUDGE GRANTS MTD IN FDCPA CASE OVER NOTICE SENT TO REPRESENTED PLAINTIFF The plaintiff did not sufficiently allege that the collection agency knew that the plaintiff was represented by an attorney, the judge ruled. This was the second time that the judge had dismissed the complaint, after giving the plaintiff the opportunity to amend his … The post Daily Digest – August 30.

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Why One Teacher Changed Careers and Gave Up Loan Forgiveness

Nerd Wallet

During my first class of the day, I asked a question to my students, or rather to their avatars on the screen of our online classroom. I waited for an answer but received silence. As none of my students turned on their cameras, I couldn’t know why I didn’t get a response, but some were. Jae Bratton writes for NerdWallet. Email: jbratton@nerdwallet.com.

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Judge Grants MTD in FDCPA Case Over Notice Sent to Represented Plaintiff

Account Recovery

Given a second chance to do more than just allege that a collection agency should have known that he was represented by an attorney, a plaintiff’s amended complaint has fallen just as short as the original one, and a District Court judge in New York has granted the defendant’s motion to dismiss, ruling that there … The post Judge Grants MTD in FDCPA Case Over Notice Sent to Represented Plaintiff appeared first on AccountsRecovery.net.

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High-Value AmEx Card Offers for Travelers

Nerd Wallet

American Express has lots of great travel-related cards with partnerships, including Delta Air Lines, Hilton and Marriott, among others. But, if you’re looking for primary American Express-branded cards that can elevate the travel experience, there are two worthy contenders. Among the many American Express travel card offers, these carry substantially different annual fees, and the.

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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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TV production sector sees sharp rise in Business Insolvency

UK debt collections

Companies involved in the TV production sector has seen a sharp rise. UK film and TV production company insolvencies have jumped 69% in the past year, from 67 to 113 according to new research from Mazars. The research found that many of those insolvencies were of financially weaker production companies that missed out on last year’s UK film & TV industry boom as they couldn’t recruit staff.

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How Uplift Buy Now, Pay Later Works for Travel 

Nerd Wallet

Many travelers want to book vacations, but with inflation and surging demand affecting the price of airline tickets, rental cars and other household expenses, sometimes they simply don’t have the money. Instead of carrying a balance on high-interest rate credit cards, some are turning to buy now, pay later options like Uplift to finance their. Lee Huffman writes for NerdWallet.

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Everything You Need to Know About Time-Barred Debts

Direct Recovery

Time-barred debts are one of the most misunderstood aspects of the entire debt collection industry, but the basic information that explains them and how they work is relatively straightforward. The key to understanding any time-barred debt situation is to know and understand the rules at play before making any decisions or payments. What is a Time-Barred Debt?

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Recession vs. Depression: How Do These Economic Terms Compare?

Nerd Wallet

Recessions and depressions are similar in that they both signal a downturn in the economy. But depressions are far less common and indicate a more severe, widespread impact. Recession definition Compared with depressions, recessions are easier to define. In fact, a nonprofit organization called the National Bureau of Economic Research, or NBER, continually tracks business.

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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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Whitepaper | Payment methods in 2022

On Guard

Paying and getting paid in B2B – this is how we do it! Cash flows (incoming and outgoing) are a key factor in your organisation’s health. Continuously negative cash flows ultimately lead to unwanted payment problems. That makes it vital to maintain a healthy cash flow. When your customers pay you on time, you can also pay your suppliers on time.

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What to Do When Southwest Delays Your Flight

Nerd Wallet

It’s no secret that flight delays have been on the rise lately as more travelers are eager to get away. These unexpected flight delays can be stressful and can negatively impact your vacation. If you’re flying with Southwest Airlines soon, you may wonder what to expect if delays occur. Southwest Airlines flight delays can and. Natasha Gabrielle writes for NerdWallet.

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Court Denies Motion to Dismiss FDCPA Suit Based on Pleadings Statements of a Previous Lawsuit

Troutman Sanders

In Louis v. Deshmukh , Civil Action No. 21-19902 (D.N.J. July 27, 2022), the District of New Jersey denied a motion to dismiss a putative class action, asserting claims under the Fair Debt Collections Practices Act (FDCPA) based on statements made in the pleadings in an earlier state court litigation. Plaintiff Cathelene Louis incurred a debt to a dentist, which was referred for collections to defendant Amit Deshmukh, doing business as Desh Law LLC (Desh Law).

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How Much Does Car Detailing Cost?

Nerd Wallet

On average, a car detail can range from $50 to $300, depending on the services you choose. By researching the types of services you need, you’ll find a detailer who fits your budget. Detailing is simply maintenance for your car’s features that you touch and see every day — and it’s part of the total. Whitney Vandiver writes for NerdWallet. Email: wvandiver@nerdwallet.com.

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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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Federal Agencies Instructed to Minimize Effect of Medical Debt in Loan Considerations

Troutman Sanders

On August 25, the Office of Management and Budget (OMB) directed federal agencies involved in originating consumer and small business loans — including the Small Business Administration, Department of Veterans Affairs, Department of Agriculture, and the Federal Housing Finance Agency — to reduce the impact of medical debt when making underwriting decisions.

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What Are Articles of Incorporation and How to File Them

Nerd Wallet

As an aspiring entrepreneur, you might have a lot of plans about starting a business. But officially launching your business requires more than just a great idea. To create a new corporation, you’ll need to file articles of incorporation. Articles of incorporation, also known as certificate of incorporation or corporate charter, are a legal document.

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The Power of Optimization: Solving a Dire Water Access Problem

Fico Collections

Home. Blog. FICO. The Power of Optimization: Solving a Dire Water Access Problem. The SEIO-BBVA prize for best applied contribution in operations research goes to a team including FICO’s Selene Silvestri. JessicaButalla@fico.com. Tue, 07/19/2022 - 16:11. by Oliver Bastert. Vice President, Product Management. expand_less Back To Top. Tue, 08/30/2022 - 09:30.

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Finvi Partners with Prodigal to Deliver Conversation Intelligence to ARM and Healthcare RCM Industries

Account Recovery

MOUNTAIN VIEW, Calif., Aug. 29, 2022 /PRNewswire/ — Prodigal, a pioneer in Consumer Finance Intelligence, and Finvi, a premier provider of workflow and payments solutions that streamline and accelerate revenue recovery in the accounts receivable management (ARM), healthcare, and government markets, today announced their partnership. The newly forged partnership couples Finvi’s workflow and intelligence solutions with the … The post Finvi Partners with Prodigal to Deliver Conver

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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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Are Your Invoices Delaying Customer Payments?

AGA

From The Virtual Credit Manager. The Importance of Timely, Complete and Accurate Invoices. While it is true that accurate invoices are sometimes lost or paid slowly, a major cause of delinquent receivables is failing to meet the customer’s invoicing requirements. Government agencies, big box retailers or other large customers often have invoicing requirements that may differ from the industry norm.

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Walmart Seeks To Dismiss Lawsuit By FTC Over Money Transfers

Collection Industry News

The Associated Press, August 29, 2022. NEW YORK (AP) — Walmart filed a motion on Monday to dismiss a lawsuit by the Federal Trade Commission in June that accused the nation’s largest retailer of allowing its money transfer services to be used by scam artists, calling it an “egregious instance of agency overreach.”. In its lawsuit, the FTC alleged that for years, Walmart failed to properly secure the money transfer services offered at its stores, stealing “hundreds of millions of dollars” from cu

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Corporate Profit Margins Widen Despite Inflation

NACM

U.S. corporate profit margins grew in Q2 to the widest in 72 years, according to Wells Fargo. They found that nominal profits for GDP rose 6.1% (not annualized) during the quarter on a pre-tax basis, "the fastest pace in a year." Not only that, the $175 billion gain in profits in Q2, "lifted overall corporate profits to a record $3.0 trillion."Furt.

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80% of Financial Advisors Say U.S. Recession Is Coming

Collection Industry News

Susannah Snider, CFP®, August 29, 2022. When it comes to the question of whether Americans are in a recession –or headed for one in the near future – financial advisors are pessimistic. In a survey of close to 300 financial advisors who participate on SmartAsset’s SmartAdvisor matching platform, 80% of respondents said that Americans are already in a recession or would enter one in the next 12 months.

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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.