Account Recovery

OCTOBER 11, 2024

A District Court judge in Oklahoma has dismissed the class-action component of a Fair Debt Collection Practices Act lawsuit, while also dismissing some of the claims, after the defendant was accused of not sending a collection lawsuit summons to the plaintiff’s correct address, which it allegedly had. The background: The case started when the defendant, a collection law firm, filed a lawsuit against the plaintiff to collect an alleged debt.

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Fair Debt Collection Law Firms Collections 246

FFGN COLLECT NY

OCTOBER 11, 2024

Properly naming a non-paying client is of the utmost importance in New York debt collection. Failing to properly name the defendant can jeopardize your entire case. Here’s why it’s so important to properly name your non-paying customer — and how to do so. Assume your company had an agreement with John Smith, LLC to provide services for Mr. Smith, and you dealt personally with John Smith.

Collections 52

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Account Recovery

OCTOBER 11, 2024

Large language models (LLMs) like ChatGPT are reshaping consumer interactions across industries. The credit and collection sector could be next. Why it matters: As collection agencies, debt buyers, fintechs, banks, and credit unions seek to improve consumer engagement, LLMs offer a potential solution for more natural and effective communication. Driving the news: Researchers at Purdue University have found that integrating AI-powered chatbots into autonomous vehicles (AVs) improves passenger-veh

Credit Unions 130

Credit Unions Credit Unions Collections Fair Debt Collection 130

Qualco

OCTOBER 11, 2024

NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. You can view it here. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. However, in a small number of credit businesses, the right strategies for systems and people have not been set.

Debt Management 52

Debt Management Credit Management Creditors Government 52

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

OCTOBER 11, 2024

The Receivables Management industry mourns the loss of a true visionary, Larry Vasbinder, founder of Second Round, who passed away unexpectedly this past weekend after post-surgical complications. Larry’s legacy is one of innovation, resourcefulness and an unwavering commitment to improving the consumer experience. His absence is deeply felt. Starting his career in public accounting in 1990, Larry became a Certified Public Accountant and joined the tax department of KPMG Peat Marwick, furthering

Acquisition 130

Acquisition Debt settlement Financial services 130

Account Recovery

OCTOBER 11, 2024

The Consumer Financial Protection Bureau yesterday announced that it has banned the private arbitration company, Ejudicate, from arbitrating disputes involving consumer financial products. The announcement comes after Ejudicate was found to have misled student borrowers and initiated arbitration proceedings without consent, raising concerns for those in the debt collection industry, particularly those collecting on unpaid student loans.

Student Loans 130

Student Loans Student loans Financial services Loans 130

Qualco

OCTOBER 11, 2024

NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. You can view it here. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. However, in a small number of credit businesses, the right strategies for systems and people have not been set.

Debt Recovery 52

Debt Recovery Collections Credit Management Creditors 52

Account Recovery

OCTOBER 11, 2024

Plaintiff’s Attorney, Collection Operations, Facing FDCPA Class Action Over Unpaid Invoice Oklahoma District Court Judge Dismisses Class-Action Component of FDCPA Suit CFPB Bans Ejudicate from Arbitrating Financial Disputes After Engaging in Deceptive Practices How Large Language Models Can Revolutionize Consumer Engagement in Collections Remembering Larry Vasbinder: A Visionary in the Receivables Management Industry WORTH NOTING: The country is experiencing its worst whooping cough outbreak in

Collections 243

Collections 243

Account Recovery

OCTOBER 11, 2024

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 (855) WEB-RECON or email admin@webrecon.net today!

Collections 130

Collections Fair Debt Collection Collections Agency Collection Agencies 130

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.