Mon.May 20, 2024

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Overcoming common debt collection challenges for your small business

American Profit Recovery

Every size business, whether a small business or a larger organization will have to manage late and non-paying customers. It’s just a reality of being in business and part of the accounts receivable process. Not every customer is going to pay their bills on time. That would be nice, but it just doesn’t happen for a wide range of reasons.

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Daily Digest – May 20. Judge Grants MSJ For Defendant in FDCPA Case Over Alleged Inconvenient Calls; More Regulation, More Enforcement at CFPB Following Supreme Court Ruling

Account Recovery

Judge Grants MSJ For Defendant in FDCPA Case Over Alleged Inconvenient Calls More Regulation, More Enforcement at CFPB Following Supreme Court Ruling CFPB Sues Online Lender for Deceptive Dark Patterns Compliance Digest – May 20 WORTH NOTING: A security lapse that could let millions of people do laundry for free … Why we can’t get […]

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Nailing Debt Collection: A Guide for Business Owners

Burt and Associates

Table of Contents: Introduction Streamlining Your Collection Process Utilizing Automation Tools Offering Convenient Payment Options Communicating Clearly and Promptly Providing Incentives for Early Payment Focusing on Customer Retention Training Your Collection Team Monitoring and Tracking Progress Seeking Feedback and Adapting Staying Compliant with Regulations Conclusion Introduction: In today’s fast-paced business environment, effective debt collection is crucial for maintaining healthy

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More Regulation, More Enforcement at CFPB Following Supreme Court Ruling

Account Recovery

Now that its future seems a little more secure and stable, the Consumer Financial Protection Bureau plans to start “firing on all cylinders,” its director, Rohit Chopra said on Friday.

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How Collection Agencies Minimize Effort and Maximize Results with the Right Software

Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.

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What is Factoring in Finance? Definition, Examples, Benefits

Qualco

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.

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Judge Grants MSJ For Defendant in FDCPA Case Over Alleged Inconvenient Calls

Account Recovery

A District Court judge in Nevada has granted a defendant’s motion for summary judgment and denied the plaintiff’s motion for summary judgment in a Fair Debt Collection Practices Act case, ruling that the defendant could not have known it was contacting the plaintiff at an inconvenient time after the plaintiff told the defendant he was […]

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CFPB Sues Online Lender for Deceptive Dark Patterns

Account Recovery

The day after the Supreme Court ruled that its funding structure was constitutional. the Consumer Financial Protection Bureau filed a lawsuit against SoLo Funds, an online lending platform, for allegedly deceiving borrowers about the true cost of its loans.

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