Account Recovery
JUNE 27, 2023
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?
Nexa Collect
JUNE 27, 2023
Chargebacks can be costly for a business, not just in terms of revenue, but also in operational overheads and potential damage to reputation. Here are some strategies to reduce chargebacks: Clear Product/Service Descriptions : Provide detailed and accurate product or service descriptions. This reduces the likelihood of a customer being dissatisfied or claiming that the product or service was not as described.
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Account Recovery
JUNE 27, 2023
I think this might be something along the lines of adding insult to injury … Three months after a different Appeals Court upheld an award to a debt collector of $50,000 in attorney’s fees, another Appeals Court has affirmed the award of $19,651 to the collector after it was accused by a law firm of […]
Nexa Collect
JUNE 27, 2023
Recovering unpaid student loans is a systematic process. Just like mortgage recoveries, the steps can vary depending on the jurisdiction and the terms of the loan. Here’s a general outline of the process: Review Loan Agreement : Go through the loan agreement to ensure you are familiar with its terms and conditions, especially those regarding default and recovery.
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
JUNE 27, 2023
Do you think you have what it takes to articulate the objectives and mission of the accounts receivable management industry to a room full of consumer advocates and federal regulators who many in the industry think have it out for debt collectors?
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
JUNE 27, 2023
Companion bills have been introduced in the House of Representatives and the Senate that aim to give the Federal Communications Commission more power to try and recover fines and penalties it assesses against robocallers who violate the Telephone Consumer Protection Act. H.R. 4224, the FCC Legal Enforcement Act, was introduced by Rep. Doris Matsui [D-Calif.
Nexa Collect
JUNE 27, 2023
Integrating artificial intelligence (AI) into hospital billing can revolutionize the billing process by increasing efficiency, accuracy, and patient satisfaction. Here’s how AI could impact hospital billing: Error Reduction : AI systems can automatically verify patient information and detect coding errors or discrepancies. This helps in reducing human errors, which can be common in manual processes.
Account Recovery
JUNE 27, 2023
Bankrate recently released a report about the emergency savings that consumers have and I asked ChatGPT to pull out the highlights. This is what it noted: Overall, this information from the report can help debt collectors understand the financial landscape and challenges faced by individuals regarding emergency savings, debt levels, and financial comfort.
Troutman Sanders
JUNE 27, 2023
On June 26, Florida Governor Ron DeSantis signed the Florida Commercial Financing Disclosure Law (FCFDL). As discussed here , the FCFDL mandates that covered commercial financing companies provide consumer-like disclosures for certain commercial financing transactions. The law also defines and prohibits specific acts by brokers of those transactions, including the collection of advance fees.
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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.
Account Recovery
JUNE 27, 2023
SUIT ACCUSES COLLECTOR OF DUPLICATING DISPUTED DEBT BILLS INTRODUCED IN CONGRESS TO GIVE FCC MORE POWER TO GO AFTER ROBOCALLERS CFPB ACCEPTING APPLICATIONS FOR CONSUMER ADVISORY BOARD CALIF. APPEALS COURT AFFIRMS SECOND FEE AWARD FOR COLLECTOR CONSUMERS DISH ON THEIR EMERGENCY SPENDING HABITS WORTH NOTHING: A new definition for irony?
Roths Child Law
JUNE 27, 2023
If you are in high debt, it may be best to file for bankruptcy. This will allow you to enjoy numerous benefits , including relief from debt and potential lawsuits. In addition to these, declaring bankruptcy can be good for your health. This guide discusses how this can happen: Relief from chronic stress Constantly thinking of bills, debt and lawsuits can lead to chronic stress, which can be harmful to your health.
Troutman Sanders
JUNE 27, 2023
On June 15, Nevada Governor Joe Lombardo signed SB 290 into law, which imposes licensing, reporting, examination, and other substantive requirements on providers of earned wage access (EWA) products. Specifically, the legislation applies to businesses that deliver money to a person that represents income that the person has earned but has not yet been paid.
Jimerson Firm
JUNE 27, 2023
In an effort to protect homeowners and ensure a fair and efficient claims process for property insurance claims, Florida Senate Bill 2A introduced significant amendments to Section 627.70131 of the Florida Statutes. These changes aim to enhance the prompt pay laws for property insurance claims, providing homeowners with greater peace of mind during challenging times.
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?
Troutman Sanders
JUNE 27, 2023
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities State Activities Federal Activities: On June 23, the U.S. Supreme Court ruled in Coinbase, Inc.’s favor, holding that litigation in district court is automatically stayed when a party appeals the denial of a motion to compel arbitration.
Fico Collections
JUNE 27, 2023
Home Blog FICO UK Cards: Spend and Balances Rose in March / April 2023 Unpredictable consumer spending puts banks on high alert as deadline for new Consumer Duty Guidance nears Thu, 02/09/2023 - 08:37 Pawel Pasik by Liz Ruddick Principal Consultant expand_less Back to top Tue, 06/27/2023 - 15:45 How are consumers in the UK managing their finances in a period of high inflation and interest rates?
Collection Industry News
JUNE 27, 2023
LONG BEACH, Calif. — Banks and credit unions rarely see eye-to-eye, so it was no surprise when Dan Berger, president and CEO of the National Association of Federally-Insured Credit Unions, called out “greedy” bank executives responsible for recent bank failures. “In the past several months, we’ve seen the biggest bank failures since the 2008 financial crisis,” Berger told 650 credit union executives Wednesday at the trade group’s annual conference in Long Beac
NACM
JUNE 27, 2023
NACM's Professional Certification Program provides an opportunity for credit professionals to show they are serious about their career. NACM members armed with our prestigious designations enjoy an average income boost of $10,000 annually, outshining their counterparts without designations."Completing my CBA was a profound moment in both my profess.
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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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