Account Recovery

FEBRUARY 23, 2023

A District Court judge in Minnesota has ordered a plaintiff’s attorney to pay $12,133.35 to cover the attorney’s fees incurred by the defendant in a Fair Debt Collection Practices Act case, bringing an end to a case where the attorney admitted to acting “petty” and was accused of prolonging the litigation to augment his recovery. … The post Judge Orders Plaintiff’s Attorney to Pay Defendant’s Attorneys $12k in Fees first appeared on AccountsRecovery.net.

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Fair Debt Collection Collections 130

Nexa Collect

FEBRUARY 23, 2023

Customer payments get delayed all the time. It may not always be worrisome right away, but not having an accounts receivables strategy can be devastating for your business. Consumers and businesses alike have ups and downs, and their financial situation can temporarily or permanently deteriorate. If you have outstanding AR from your customers, it is crucial to get paid on time before they prioritize other payments over yours.

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Collection Agencies Collections Agency Collections Debt Recovery 130

Account Recovery

FEBRUARY 23, 2023

The credit cycle is officially transitioning and opportunities to purchase portfolios of delinquent and charged off debts are starting to increase, the chief executive of Encore Capital Group said yesterday during a call with analysts to discuss the company’s financial performance for the fourth quarter of 2022 as well as for the entire year. For … The post Revenue, Profit Down at Encore, But Company Says Cycle Has Turned and Supply is Picking Up first appeared on AccountsRecovery.ne

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UK debt collections

FEBRUARY 23, 2023

Classic Motorcycle Company Hesketh Motorcycles are facing liquidation after a winding up order was served on the company by a customer. Customer Paul Anderson, 57, first contacted Hesketh Motorcycles in May 2021 and paid a £10,000 deposit towards the last £30,000 Sonnet café racer model Hesketh were going to make. In emails seen by Motorcycle News, Hesketh Managing Director, Paul Sleeman, confirmed that a build slot for the Sonnet was available, and on May 26 further confirmed via email.

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Creditors Collections 91

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

FEBRUARY 23, 2023

GETTING TO KNOW MEGAN HEBERT OF SPECIALIZED COLLECTION SYSTEMS Change starts with you, the famous saying goes. It’s a mantra that Megan Hebert of Specialized Collection Systems believes in very strongly — if the industry is going to change its image, it has to start with those working in it and those leading it. It’s … The post Daily Digest – February 23.

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Collections 130

Account Recovery

FEBRUARY 23, 2023

Change starts with you, the famous saying goes. It’s a mantra that Megan Hebert of Specialized Collection Systems believes in very strongly — if the industry is going to change its image, it has to start with those working in it and those leading it. It’s clear how much pride Hebert takes in the work … The post Getting to Know Megan Hebert of Specialized Collection Systems first appeared on AccountsRecovery.net.

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Collections 130

Nerd Wallet

FEBRUARY 23, 2023

Carissa Rawson writes for NerdWallet. Email: articles@nerdwallet.com. The article The United Upgrade Clearing Order and Other Tips to Get Upgrades originally appeared on NerdWallet.

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Account Recovery

FEBRUARY 23, 2023

Earlier this month, RMA International held its annual conference. Rather than hear me talk about my experience and what I learned, I thought it would be better if you heard from your peers and colleagues from across the accounts receivable management industry about what they took away from the event. So I reached out to … The post RMAI 2023 Attendees Share Their Takeaways first appeared on AccountsRecovery.net.

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Accounts Receivables Management 130

Nerd Wallet

FEBRUARY 23, 2023

Liz Weston, CFP® writes for NerdWallet. Email: lweston@nerdwallet.com. Twitter: @lizweston. The article Make Your Credit Cards Less Vulnerable to Fraud originally appeared on NerdWallet.

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Collections

On Guard

FEBRUARY 23, 2023

As most businesses will attest, getting customers to pay an invoice on time can be challenging. The failure to pay an invoice can occur for a number of reasons. It can range from faulty goods being received, to incorrect paperwork, all the way to fraud. However, did you know one of the most common reasons for invoices not being paid is as simple as a lack of cash?

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Trade Collection Agencies Collections Agency Credit Management 52

Nerd Wallet

FEBRUARY 23, 2023

Kimberly Palmer writes for NerdWallet. Email: kpalmer@nerdwallet.com. Twitter: @kimberlypalmer. Sean Pyles writes for NerdWallet. Email: spyles@nerdwallet.com. Twitter: @SeanPyles. The article Smart Money: Axton Betz-Hamilton on Familial Identity Theft originally appeared on NerdWallet.

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Troutman Sanders

FEBRUARY 23, 2023

Q: Does a BIPA claim accrue each time a person’s biometrics are scanned or only with the first such scan? A: A BIPA claim accrues with each scan. On February 17, the Illinois Supreme Court issued its long-awaited decision in Cothron v. White Castle , holding that a claim under Illinois’ Biometric Information Privacy Act (BIPA) is triggered upon each biometric scan, rather than just the first.

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Collections Judgment 52

Nerd Wallet

FEBRUARY 23, 2023

Sarah Schlichter writes for NerdWallet. Email: sschlichter@nerdwallet.com. The article Does Home Insurance Cover Plumbing Problems? originally appeared on NerdWallet.

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Home Insurance 71

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

Troutman Sanders

FEBRUARY 23, 2023

On February 16, the Department of Justice (DOJ) filed a complaint in the district court for the Southern District of California on behalf of the Federal Trade Commission (FTC) against seven corporate entities and five individuals acting as officers and/or owners of the corporate entities. The complaint alleges that the defendants, who represent a web of interconnected platform providers, lead generators, telemarketers, and debt relief service sellers, provided and implemented technology to initi

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Trade Judgment 52

Nerd Wallet

FEBRUARY 23, 2023

JT Genter writes for NerdWallet. Email: travel@nerdwallet.com. The article The Guide to Around-the-World Tickets originally appeared on NerdWallet.

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Troutman Sanders

FEBRUARY 23, 2023

On February 14, TransUnion filed its annual 10-K report pursuant to the Securities and Exchange Act. Under the section entitled “Risks Related to Laws, Regulations and Government Oversight,” the company disclosed that it was in “active settlement discussions” with the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) over the alleged Fair Credit Reporting Act compliance lapses related to tenant screening.

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Nerd Wallet

FEBRUARY 23, 2023

Funto Omojola writes for NerdWallet. Email: fomojola@nerdwallet.com. The article Auto Loan Hardship Programs: What To Know originally appeared on NerdWallet.

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Loans 65

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Collections

Troutman Sanders

FEBRUARY 23, 2023

Please join Troutman Pepper Partner Chris Willis for a solo episode as he shares his thoughts about the recent lawsuit between the CFPB and the New York State Office of the Attorney General against a subprime auto finance company. He covers some of the unusual claims made in the case, flaws he sees in the asserted legal theories, and potential implications for the rest of the auto finance industry.

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Consumer Finance Watch

FEBRUARY 23, 2023

Law360, February 16, 2023 Diana M. Eng and Alina Levi ● On Feb. 14, New York’s highest court, the Court of Appeals, issued a ruling in Bank of America NA v. Kessler, reversing the Appellate Division, Second Department’s 2021 decision. … Continue reading → The post <i>Law360</i>: NY Foreclosure Notice Ruling Is a Win for Lenders appeared first on Consumer Finance Watch.

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Troutman Sanders

FEBRUARY 23, 2023

In the second segment of our four-part Crypto Year in Review series, Rene McNulty, Carlin McCrory, and Ethan Ostroff discuss the Federal Reserve and its research and experimentation on Central Bank Digital Currencies (CBDCs), examining the steps that the Fed took toward potential CBDC implementation. Our panelists also review recent crypto-related regulatory developments at the FDIC and OCC, discussing what these actions can tell us about regulatory trends and priorities.

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Banks 52

Payment Savvy

FEBRUARY 23, 2023

If you are using the Automated Clearing House (ACH) method to process customers’ transactions, you are likely to see three-digit codes if a problem arises. Whenever there is an issue with a direct debit or credit card transaction, one of the parties involved in the payment processing will send a code. This code is your key to fixing or at least identifying what has blocked the transaction.

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Financial Institution Banks Government Collections 52

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.

Taurus Collect

FEBRUARY 23, 2023

If you’re in debt, you may be wondering if it’s better to hire a debt collection agency or lawyer to help you recover the money you owe. Both professionals can help you get your debts paid, but there are some key differences between them that you should consider before making a decision. Here’s a quick overview of debt collectors vs lawyers to help you choose the right person for your situation.

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Debt Recovery Debt collector Lawyers Collection Agencies 52

UK debt collections

FEBRUARY 23, 2023

Guide to Large File Sharing and Transfer In today’s digital age, large file sharing and transfer have become an essential part of our lives. Within the Debt Collection industry, it is important to have an efficient file sharing process. From sending high-resolution images and videos to collaborating on large-scale projects, we need a reliable way to share files quickly and securely.

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Collection Agencies Collections Agency Collections 52

On Guard

FEBRUARY 23, 2023

CFOs and CEOs, are you familiar with DSO? If not, you really should be. In today’s business landscape, your cash conversion cycle can make a big difference between the success or failure of your company. While many businesses focus on improving their DPO (supplier side) and DOI (inventory holding) metrics to enhance their cash flow, the real impact can be found by examining your customer base and their payment habits, which is reflected in the DSO metric.

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Credit Management Collections 40

Nerd Wallet

FEBRUARY 23, 2023

Holden Lewis writes for NerdWallet. Email: hlewis@nerdwallet.com. Twitter: @HoldenL. The article Why a New-Construction Home May Cost Less Than You Expect originally appeared on NerdWallet.

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Construction 17

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Credit Unions