Wed.Mar 01, 2023

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How to deal with debt collection agencies as a consumer

American Profit Recovery

Hello consumers, this one is for you. And it’s meaningful advice that is coming straight from the people that you may not always be interested in speaking with, debt collectors. But that’s about to change! A common question in this industry and on Internet searches is how to deal with debt collectors. While some of that advice is certainly valid, some of it is written in a more adversarial manner, meaning many writing advice on this topic are teaching consumers how to avoid these issues.

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Flock Invests in Data Science and Information Technology

Account Recovery

ATLANTA — FLOCK Specialty Finance announces a strategic investment in technology and human capital related to data-driven insights and innovation. “Our investment in an analytical platform is foundational to our commitment to provide best-in-class support to our customers and our investors. The FLOCK analytics platform enables operational efficiencies, improved insights, and opportunities for data-driven innovation. … The post Flock Invests in Data Science and Information Techn

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CFPB Publishes New Findings on Financial Profiles of Buy Now, Pay Later Borrowers

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) has published a new report analyzing the financial profiles of Buy Now, Pay Later borrowers.

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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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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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How to Use Your Cable Bill to Build Credit

Credit Corp

Are you hoping to build your credit by paying your cable bill on time? Unfortunately, most cable companies, like many other utilities, don’t report payments to credit reporting agencies. With no information, it’s impossible for these agencies to use this information when calculating your credit score. So, making these payments on time typically doesn’t impact your credit score.

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What Is a Tax-Free Weekend?

Credit Corp

Studies show that parents spend, on average, more than $650 per child on back-to-school supplies. This number is even higher for adult children heading off to college. With ongoing inflation concerns and rising costs, you, like many other parents, are likely looking for ways to reduce these costs as much as possible. If you’re lucky enough to live in one of the states that offer tax-free weekends right before school starts, this may be one of your best chances for saving money on clothes, shoes

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New Data Privacy Bill Passed by House Fin’l Services Committee

Account Recovery

It pays to be the man in charge. A financial data privacy bill introduced last week by Rep. Patrick McHenry [R-N.C.], the chair of the House Financial Services Committee, was passed out of committee yesterday, and now moves to the full House of Representatives for its consideration. The bill seeks to amend the Gramm-Leach-Bliley Act … The post New Data Privacy Bill Passed by House Fin’l Services Committee first appeared on AccountsRecovery.net.

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When to Consider Booking With Turo Over a Traditional Rental Car

Nerd Wallet

Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com. Twitter: @SAFmedia. The article When to Consider Booking With Turo Over a Traditional Rental Car originally appeared on NerdWallet.

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Digital Collections Having Big Impact on Efficiency at PRA Group: CEO

Account Recovery

Digital collections and scoring analytics have made PRA Group so efficient that it likely will not ramp up its headcount, either during tax season or as the company purchases more portfolios and increases the amount of debt it can collect on, the company’s chief executive discussed during a conference call with analysts on Monday following … The post Digital Collections Having Big Impact on Efficiency at PRA Group: CEO first appeared on AccountsRecovery.net.

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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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Small-Business Marketing Statistics and Trends

Nerd Wallet

Maddie Shepherd writes for NerdWallet. Email: articles@nerdwallet.com. The article Small-Business Marketing Statistics and Trends originally appeared on NerdWallet.

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Daily Digest – March 1. Judge Dismisses FDCPA Class Action Over Arbitration Clause with Debt Buyer; Digital Collections Having Big Impact at PRA Group

Account Recovery

JUDGE GRANTS MTD IN FDCPA CLASS ACTION OVER ARBITRATION CLAUSE WITH DEBT BUYER A District Court judge in Maryland has granted a defendant’s motion to compel arbitration and dismiss a Fair Debt Collection Practices Act class action, ruling that an underlying collection suit did not violate the terms of the agreement between the creditor and … The post Daily Digest – March 1.

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Discover’s 5% Bonus Categories for Q2 2023: Restaurants and Wholesale Clubs

Nerd Wallet

Craig Joseph writes for NerdWallet. Email: cjoseph@nerdwallet.com. The article Discover’s 5% Bonus Categories for Q2 2023: Restaurants and Wholesale Clubs originally appeared on NerdWallet.

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Can You Buy Your Own Debt?

Credit Corp

Buying your own debt for pennies on the dollar might seem like a great way to get out of debt fast. However, you can’t actually do this due to how debt buying works. Debts of this nature are sold in large bundles to debt collectors and other agencies. Learn more about how debt buying works, why it’s not an answer to your debt concerns, and what you can do to handle debt instead below.

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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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A Guide to Low Income Home Energy Assistance Programs

Nerd Wallet

Elizabeth Ayoola writes for NerdWallet. Email: eayoola@nerdwallet.com. The article A Guide to Low Income Home Energy Assistance Programs originally appeared on NerdWallet.

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10 Awesome Money-Saving Tips for Moms

Credit Corp

Balancing the household budget while making sure everyone has what they need to live a vibrant, healthy life can be hard. That’s especially true as prices rise. If you’re a mom saving money, we’ve got some tips to help you with that task. 1. Look for Deals Don’t swipe your card or hit the checkout before you spend a little time looking for deals. Clipping and stacking coupons can help you cut your grocery budget by a hefty percentage, but moms can use deals to save money on things they might pur

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Smart Money: 'This or That': Airbnb vs. Hotel

Nerd Wallet

Meghan Coyle writes for NerdWallet. Email: mcoyle@nerdwallet.com. Twitter: @inkwaves. Sean Pyles writes for NerdWallet. Email: spyles@nerdwallet.com. Twitter: @SeanPyles. The article Smart Money: 'This or That': Airbnb vs. Hotel originally appeared on NerdWallet.

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How to Tell If You Have a Credit Score

Credit Corp

You might assume that everyone over the age of 18 has a credit score. However, research shows that nearly 16% of the consumer population doesn’t have any credit rating because the credit reporting agencies don’t have enough financial information on them to determine a score. What’s the easiest way to tell if you have a credit score? One of the fastest and easiest ways to check your credit score is with Credit.com’s free credit score checker.

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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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As March Madness Looms, So Do Sports Betting Taxes

Nerd Wallet

Andy Rosen writes for NerdWallet. Email: arosen@nerdwallet.com. Twitter: @[link] The article As March Madness Looms, So Do Sports Betting Taxes originally appeared on NerdWallet.

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What Happens If You Go Over Your Credit Card Limit?

Credit Corp

If you attempt to make a purchase that takes you over your credit card limit, your credit card company will likely decline the transaction. However, if you opt in for over-limit protection, you may be able to go over your credit card limit, but not without penalties. It can be tempting sometimes to consider maxing out your credit card to cover some unexpected expenses or make a desired purchase.

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Voices Backing Student Debt Cancellation Rise at Protest

Nerd Wallet

Cecilia Clark writes for NerdWallet. Email: cclark@nerdwallet.com. The article Voices Backing Student Debt Cancellation Rise at Protest originally appeared on NerdWallet.

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My Mortgage Company Didn’t Pay My Property Taxes

Credit Corp

What should you do if your mortgage company didn’t pay your property taxes? First, don’t panic, but do take immediate action. Start by contacting your lender, tax authority, and even your lawyer if necessary. Getting an unpaid tax notice in the mail can be scary, especially when you know you have an escrow account and your mortgage payments are up to date.

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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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Two One-Way Flights or One Round-Trip: Which Is Better?

Nerd Wallet

Sam Kemmis writes for NerdWallet. Email: skemmis@nerdwallet.com. Twitter: @samsambutdif. The article Two One-Way Flights or One Round-Trip: Which Is Better? originally appeared on NerdWallet.

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Arizona Court of Appeals Narrows Statute of Limitations Application

Troutman Sanders

The Arizona Court of Appeals recently clarified how the state’s debt collection statute of limitations applies to debt created by a land sale contract. Arizona has a six-year statute of limitations to enforce installment debt created by a written contract, which is codified at A.R.S. § 12-548. A lender must enforce the debt through foreclosure or a lawsuit within six years after the cause of action accrues.

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Cincinnati Homeowners Insurance Review 2023

Nerd Wallet

Sarah Schlichter writes for NerdWallet. Email: sschlichter@nerdwallet.com. The article Cincinnati Homeowners Insurance Review 2023 originally appeared on NerdWallet.

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Illinois Becomes Latest State to Introduce Small Business Truth in Lending Act

Troutman Sanders

On February 16, Illinois State Representative Hoan Huynh (D) introduced HB3064 , the Small Business Truth in Lending Act, that would impose certain mandatory disclosure requirements for commercial financing transactions and require registration of small business finance companies and brokers. Illinois follows the lead of states such as New York, California, Utah, and Virginia which have each enacted legislation imposing additional requirements on small business financing transactions.

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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.