Wed.Jan 25, 2023

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21 Companies Seeking Collection Talent

Account Recovery

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 … The post 21 Companies Seeking Collection Talent first appeared on AccountsRecovery.net.

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How can Collection Agencies Maintain a Good Reputation?

Nexa Collect

Business and medical professionals seeking to hire a collection agency always wonder if the agency they hire is ethical or if it may damage their reputation. Here are some valuable tips on how collection agencies can maintain a good reputation online and offline. Following Federal and State laws: A collection agency that violates government laws will get sued or penalized sooner or later.

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Judge Awards $25k in Sanctions Against Collection Law Firm for Attempting to Collect on Discharged Debt

Account Recovery

A bankruptcy court judge in Virginia has ordered a collection law firm to pay $25,000 in attorney’s fees to the plaintiffs for violating the discharge of a judgment through bankruptcy by sending a payoff letter to the plaintiffs after the plaintiff requested it. A copy of the ruling in the case of Skaggs v. Gooch … The post Judge Awards $25k in Sanctions Against Collection Law Firm for Attempting to Collect on Discharged Debt first appeared on AccountsRecovery.net.

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Supreme Court’s Student Loan Decision Will Impact Black Women Most

Nerd Wallet

Cecilia Clark writes for NerdWallet. Email: cclark@nerdwallet.com. The article Supreme Court’s Student Loan Decision Will Impact Black Women Most originally appeared on 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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CFPB Launches Review of Credit Card Market

Account Recovery

The Consumer Financial Protection Bureau yesterday published a request for information from consumers related to their experiences using credit cards as part of a required review of the industry. The request covers a number of different areas related to how consumers use their credit cards, how they are treated by credit card issuers, and includes … The post CFPB Launches Review of Credit Card Market first appeared on AccountsRecovery.net.

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TCPA Class-Action Accuses Debt Relief Firm of Sending Pre-Recorded Messages Without Consent

Account Recovery

A class-action complaint has been filed in Colorado federal court alleging a debt relief law firm violated the Telephone Consumer Protection Act by making pre-recorded calls to consumers to try and obtain their business without having the proper consent to do so. A copy of the complaint in the case of Scofield et al. v. … The post TCPA Class-Action Accuses Debt Relief Firm of Sending Pre-Recorded Messages Without Consent first appeared on AccountsRecovery.net.

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What Is an Executor, and What Do They Do?

Nerd Wallet

Connor Emmert writes for NerdWallet. Email: cemmert@nerdwallet.com. The article What Is an Executor, and What Do They Do? originally appeared on NerdWallet.

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What You’re Missing if You’re Not at ARMTech

Account Recovery

There is so much I want to say about the experience thus far at ARMTech, but I will save that for when the conference is officially over. For now, I wanted to share some photos from the event. Enjoy! The post What You’re Missing if You’re Not at ARMTech first appeared on AccountsRecovery.net. The post What You’re Missing if You’re Not at ARMTech appeared first on AccountsRecovery.net.

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Are Resort Fees Ever Worth It?

Nerd Wallet

Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com. Twitter: @SAFmedia. The article Are Resort Fees Ever Worth It? originally appeared on 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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Daily Digest – January 25. Judge Awards $25k in Sanctions Against Collection Law Firm; CFPB Launches Credit Card Review

Account Recovery

JUDGE AWARDS $25K IN SANCTIONS AGAINST COLLECTION LAW FIRM FOR ATTEMPTING TO COLLECT ON DISCHARGED DEBT A bankruptcy court judge in Virginia has ordered a collection law firm to pay $25,000 in attorney’s fees to the plaintiffs for violating the discharge of a judgment through bankruptcy by sending a payoff letter to the plaintiffs after … The post Daily Digest – January 25.

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How Rising Interest Rates Can Affect Your Interest Rate After Bankruptcy

Sawin & Shea

Regardless of whether you’re keeping up with economic news and rising inflation rates, you’ve likely noticed that the cost of goods is going up while your purchasing power is going down. The Consumer Price Index notes that the inflation rate is up 7.1%, which is the highest rate of inflation since 1982. Unfortunately, rising inflation impacts almost everything we purchase, such as cars, homes, clothes, food, and utilities.

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The Resolution Funnel: How to Effectively Guide Consumers Through the Repayment Process

True Accord

At TrueAccord, our goal is to meet customers where they are to personalize a strategy for each individual customer. We do this by sending them a communication via the right channel, using messaging that resonates with them, and making them an offer they can afford. We’re able to achieve this thanks to insights from the 20 million customers. This includes data like what email and SMS messages drive the most engagement, which web pages are customers viewing the most, what is the ideal payment plan

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Where’s My Amended Tax Return? Check Your Form 1040-X Status

Nerd Wallet

Andy Rosen writes for NerdWallet. Email: arosen@nerdwallet.com. Twitter: @[link] The article Where’s My Amended Tax Return? Check Your Form 1040-X Status originally appeared on 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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Everything You Need to Know About Credit Score Ranges

Direct Recovery

Everyone knows that having a good credit score is the key to getting the credit you need when you need it, but what exactly is a good credit score in the first place? There are tons of articles littering the web breaking down everything you need to do to improve your credit score, but none of that is helpful if you don’t have a solid working knowledge of where you fall on the range of possible scores.

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What Is a Car Insurance Premium?

Nerd Wallet

Ryan Brady writes for NerdWallet. Email: rbrady@nerdwallet.com. Twitter: @reallyryanbrady. The article What Is a Car Insurance Premium? originally appeared on NerdWallet.

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U.S. House Bill Proposes Excluding Pandemic Evictions From Consumer Reports

Troutman Sanders

On January 20, Representative Steve Cohen (D-Tenn) introduced the Keeping Evictions Off Credit Reports Act, H.R. 1594 , in the U.S. House of Representatives seeking to prohibit evictions due to the COVID-19 pandemic from appearing on consumer reports. This is the third time that Representative Cohen has proposed this legislation. Representatives Bennie Thompson (D-MS), Yvette Clarke (D-NY), Andre Carson (D-IN), Bonnie Watson Coleman (D-NJ) and James McGovern (D-MA) are co-sponsoring the bill.

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The Highest Value Airline Rewards Program Surprised Us, Too

Nerd Wallet

Sam Kemmis writes for NerdWallet. Email: skemmis@nerdwallet.com. Twitter: @samsambutdif. The article The Highest Value Airline Rewards Program Surprised Us, Too originally appeared on 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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Help! My debtor transferred property to relatives to avoid paying

Collections Law

While most people try to pay their debts, some debtors are dead set against paying their bills. They may think they can get away with it if they wriggle hard enough. One way some debtors try to get out of paying their bills is to transfer all their valuable property to friends or relatives. That way, if you sue them you can’t find any assets to attach and seize, right?

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Banking Groups Warn CFPB of Adverse Impact on Small Banks of Proposed Elimination of Late Fee Safe Harbor, Request SBREFA Panel

Troutman Sanders

Bankers are opposing any effort by the Consumer Financial Protection Bureau (CFPB or Bureau) to reduce or eliminate the late fee safe harbor, citing a potentially significant adverse impact on community banks and credit unions. In a letter dated January 20, the American Bankers Association (ABA), Credit Union National Association (CUNA), Independent Community Bankers of America, National Bankers Association, and National Association of Federally‐Insured Credit Unions (NAFCU) (collectively, the A

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This Week In Credit Card News: Interest Rates Expected To Keep Rising; Credit Card Trends In 2023

Collection Industry News

Interest Rates on Mortgages, Cars, and Credit Cards Will Keep Getting More Expensive in 2023 Borrowing money to buy a house or a car won’t get any cheaper this year, the nation’s central bank just confirmed. On Wednesday, the Federal Reserve released its minutes from the Federal Open Market Committee’s (FOMC) December meeting, when it announced it would be raising interest rates by 50 basis points.

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Journal Entry #2: Learning from Around the World

NACM

As I enter my third week of the International Credit & Risk Management (ICRM) online course, I'm learning more about the nitty and gritty aspects of international trade. One of the newest topics I'm learning about is financial analysis, which is a challenging subject but necessary for successful credit management. It truly.

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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.