Account Recovery

JANUARY 27, 2021

If you had $5,000 in credit card debt, and a random amount of savings between $1,000 and $10,000, how much of that savings would you use to pay down that debt? That was the hypothetical question that researchers at the Consumer Financial Protection Bureau put to consumers recently, seeking to understand the extent to which … The post CFPB Experiment Illustrates How Much of Their Savings People are Willing to Use to Pay Down Debt appeared first on AccountsRecovery.net.

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Credit Card Debt 246

Nerd Wallet

JANUARY 27, 2021

It’s no secret that 2020 was one of the worst years to work in travel, with an estimated 100 million direct tourism jobs at risk worldwide, according to an August 2020 policy brief from the United Nations. But there’s one tourism job that has become more relevant than ever: the travel agent. Before coronavirus, it. Sally French writes for NerdWallet.

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Account Recovery

JANUARY 27, 2021

A District Court judge in Indiana has granted a defendant’s motion for summary judgment, ruling that the collection agency was entitled to the Fair Debt Collection Practices Act’s bona fide error defense because a fax that was sent by the plaintiff’s attorney disputing a debt was forwarded to the wrong department. A copy of the … The post Judge Grants MSJ For Defendant in FDCPA Dispute Case appeared first on AccountsRecovery.net.

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Fair Debt Collection Collection Agencies Collections Agency Judgment 225

Nerd Wallet

JANUARY 27, 2021

A business savings account is a type of business bank account that allows you to earn interest on your funds. Compared with business checking accounts, savings accounts typically limit your monthly withdrawals, making them best for long-term savings — like emergency funds — as opposed to everyday use. The best business savings accounts are high-yield.

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Banks 103

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.

Account Recovery

JANUARY 27, 2021

Duluth, GA – January 25, 2021 – Crown Asset Management, LLC (CAM) Today Announced the Promotion of Five Team Members. Linda Dameron has been promoted from Accounting Manager to Director of Consumer Accounting. Since joining CAM in 2011, Linda has overseen Consumer Accounting, worked with Post-Sale Support Teams and worked with CAM’s servicers to ensure … The post Crown Asset Management Announces the Promotion of Five Team Members appeared first on AccountsRecovery.net.

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Account Recovery

JANUARY 27, 2021

Rep. Maxine Waters [D-Calif.], the chairwoman of the House Financial Services Committee, yesterday announced the representatives who will chair the committee’s six subcommittees. Of most interest to the accounts receivable management industry is likely the Subcommittee on Consumer Protection and Financial Institutions. That subcommittee will be chaired by Rep.

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Accounts Receivables Management Financial Institution Financial services 162

Jimerson Firm

JANUARY 27, 2021

If the borrower is unable to pay the full amount owed on an SBA loan after all of the collateral has been liquidated, the borrower may submit an “offer in compromise.” An offer in comprise allows borrowers to settle their debt on the SBA loan for less than the full amount owed. SBA lenders should understand the appropriate protocols after receiving an offer in compromise from a borrower, including what an offer in compromise is, when it is appropriate, the general requirements, and the process f

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Loans Lender Collateral Creditors 96

Account Recovery

JANUARY 27, 2021

There have been some significant shifts in consumer lawsuit trends during the past five years, and those trends continued in 2020, based on data released yesterday by WebRecon. The number of Fair Debt Collection Practices Act lawsuits dropped from 2019 to 2020 — the fifth straight year the total fell from the previous year — … The post FDCPA, TCPA Suit Totals Continue Decline While FCRA Numbers Keep Climbing: WebRecon appeared first on AccountsRecovery.net.

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Fair Debt Collection Collections 147

Nerd Wallet

JANUARY 27, 2021

Setting money goals in 2020 was likely an exercise in futility. Maybe you’d been saving for a trip abroad, but the pandemic kept you at home. Or you wanted to save up for a down payment on a house, then the recession left you out of a job. The pandemic made achieving yearlong goals a. Sean Pyles writes for NerdWallet. Email: spyles@nerdwallet.com. Twitter: @SeanPyles.

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Collections

Account Recovery

JANUARY 27, 2021

JUDGE GRANTS MSJ FOR DEFENDANTS IN FDCPA DISPUTE CASE A District Court judge in Indiana has granted a defendant’s motion for summary judgment, ruling that the collection agency was entitled to the Fair Debt Collection Practices Act’s bona fide error defense because a fax that was sent by the plaintiff’s attorney disputing a debt was … The post Daily Digest – January 27.

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Fair Debt Collection Collection Agencies Collections Agency Judgment 147

Nerd Wallet

JANUARY 27, 2021

For pet-lovers, getting paid to hang out with furry friends might sound like a dream. But it’s actually a very real possibility. If you have personal or professional experience caring for animals, you can easily make money as a dog walker or sitter. Rover and Wag, two popular pet-sitting and dog-walking apps, can quickly connect. Lauren Schwahn writes for NerdWallet.

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Debt Guru

JANUARY 27, 2021

A debt management plan (DMP) is an agreement between a debtor (that’s you, the person in debt) and a creditor (think: your bank or your credit card company) that tackles your outstanding debt. In a nutshell, a DMP groups your outstanding unsecured debts (like your credit cards and medical bills) into one payment and creates an affordable four- to six-year repayment plan.

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Debt Management Unsecured Debt Debt Consolidation Creditors 52

Nerd Wallet

JANUARY 27, 2021

This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. How do you quantify the devastation of 2020? There are the hundreds of thousands of people who lost their lives to COVID-19. There are. Alana Benson writes for NerdWallet.

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Education 52

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?

Banks

Better Credit Blog

JANUARY 27, 2021

Are you getting calls from a company named Bay Area Credit Service? It’s probably because of an overdue bill hanging over your head. They are a debt collection company that works with companies that are having difficulty recovering payments from customers. They have either been hired by your original creditor or have purchased the debt at a discount.

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Debt collector Collections Creditors Original Creditor 52

Nerd Wallet

JANUARY 27, 2021

The Sam's Club® Mastercard® is altering its rewards, and whether it’s good or bad news will depend largely on your membership tier with the wholesale club. The credit card, issued by Synchrony Bank, has ditched travel as a bonus category, and while its other big change could make up for that, not every cardholder is eligible to. Melissa Lambarena writes for NerdWallet.

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Banks 52

Better Credit Blog

JANUARY 27, 2021

Are you curious about a new entry from RentGrow on your credit report? While you might expect to see a hard inquiry on your credit report when you apply for a mortgage, you might be surprised to discover the same type of entry when you apply to rent an apartment. If you recently applied to live in a new rental property, there’s a chance your landlord ran a hard credit check during the application process.

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Repossession Lender Foreclosure Credit Bureau 52

Payment Savvy

JANUARY 27, 2021

Trust is crucial to the success of a business. This especially rings true for those with e-commerce businesses. If your customers cannot trust you’ll keep their online payments safe, they’ll have no reason to support your business. It really is as simple as that. Here are three ways you can keep customer online payments safe. 1. Store Customer Payment Data Safely.

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Retrieval Consumer Credit 52

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Collections

Better Credit Blog

JANUARY 27, 2021

If a company called BC Services has been calling you demanding payment, you may be pretty confused. Who is this company? How did they get my information? BC Services is a third-party debt collector that has been hired by a healthcare provider to whom you owe money to get you to make payments on a debt. They are completely legitimate and can have a detrimental effect on your credit score.

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Debt collector Third-party Debt Collectors Fair Debt Collection Collections 52

Fico Collections

JANUARY 27, 2021

In my series of posts on the disruption caused by the pandemic to financial services customers in the UK, and the impact on debt collection communications, I have explored: How this disruption affected customers’ ability to get in touch with their provider at a critical moment in time, using data from the FICO and Censuswide customer research. How this could have been mitigated by more effective KYC (Know Your Customer) in collections and suggestions for managing significant inbound customer dem

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Collections Financial services 52

Better Credit Blog

JANUARY 27, 2021

If you’re getting calls from a company called Debt Recovery Solutions, you probably have one or more unpaid bills to take care of. They are a third-party collector that is hired by companies to get customers to pay their overdue bills. And this can range from credit card debt to hospital bills to utility fees. If you’re getting calls from them, this can mean trouble for your credit.

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Debt Recovery Debt collector Collections Credit Card Debt 52

Micro Bilt

JANUARY 27, 2021

Compliance is critical for lenders who work with military service members and their dependents to help you avoid the penalties and fines associated with failure to comply. These are some of the more critical details for lenders to be aware of when working to ensure you stay within Military Lending Act compliance.

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Lender Consumer Credit 40

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.

Better Credit Blog

JANUARY 27, 2021

When you miss a payment on a bill, you run the risk of being contacted by a debt collector such as Burr & Reid. They are a particularly tenacious debt collection agency that will come after you until you pay up. Not only that, but they will wreak havoc on your credit score as well. Before contacting you for payment, a debt collector has to contact the major credit reporting agencies and open a collections account.

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Debt collector Collection Agencies Collections Agency Collections 52

Jimerson Firm

JANUARY 27, 2021

A. Hunter Faulkner is interviewed by Attorney at Law Magazine to discuss his new position as a partner at Jimerson Birr, and how he will contribute to the continued growth and expansion of the firm’s real estate team. The post Partner Hunter Faulkner Joining Jimerson Birr is Profiled by Attorney at Law Magazine appeared first on Jimerson Birr.

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Burr Forman

JANUARY 27, 2021

ATLANTA, Ga., January 27, 2021 – Burr & Forman announces the addition of Spencer Brown to the firm’s Corporate and Tax practice group. Spencer is an associate in the firm’s Atlanta office. Prior to joining Burr & Forman, Spencer served as a judicial clerk for the Honorable Timothy C. Batten in the U.S. District Court for the Northern District of Georgia.

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Burr Forman

JANUARY 27, 2021

WHAT MATTERS? Is your organization ready for California’s latest privacy rights law, enacted at the end of 2020 – the CPRA? This article addresses some key considerations to help you determine whether your organization may be subject to the CPRA. With the enactment of the California Privacy Rights Act (Proposition 24) (“CPRA”) on December 16, 2020, businesses will now need to ensure that their protection of consumer data not only complies with the California Consumer Privacy Act, Cal.

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Collections 52

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