Fri.Aug 14, 2020

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Licensing Bill in Calif. Moves Closer to Becoming Law; Sponsor Says Industry Supports Measure

Account Recovery

A bill that would require debt collectors in California to obtain licenses in order to stay in business moved one step closer to becoming a law yesterday, after being approved by the Assembly Banking and Finance Committee. The bill, SB 908, has already been approved by the state Senate. It now moves to the Assembly’s … The post Licensing Bill in Calif.

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How to Onboard Clients for a Successful Business Relationship

Enterprise Recovery

Once your sales team has built enough trust to land a new client, the onboarding process will lay the groundwork for the ongoing client relationship. This is the time that the client is open to you and, at the same time, cautious of your next steps. It's important that you hit the ground running (or even before signing the agreement!) so the client feels an immediate sense of relief.

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Idaho Extends Work From Home Guidance Until End of Year

Account Recovery

The Idaho Department of Finance has extended its guidance allowing collection agency employees to work from home without needing to obtain branch licenses until December 31. The allowance was due to expire on September 1. “The Department recognizes that the continued spread of localized person-to-person cases of the virus has not significantly improved,” it said … The post Idaho Extends Work From Home Guidance Until End of Year appeared first on AccountsRecovery.net.

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We were built for this

American Profit Recovery

When you make taking care of your employees your main mission as an organization, you never think that a pandemic could show you just why this is so critical to a business. While we miss the family atmosphere that once was our corporate office, the team-like way in which everyone rowed the same way, and the personal manner we help each other grow in a face to face environment, we have seen some of the most amazing teamwork during COVID-19 that we have ever seen.

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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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Judge Grants MTD in FDCPA Case Over Lack of Standing

Account Recovery

A District Court judge in Florida has granted a defendant’s motion to dismiss after it was sued for violating the Fair Debt Collection Practices Act because it lumped the principal, interest, fees, and expenses it was owed into one amount when filing a proof of claim after the plaintiff filed for bankruptcy protection. The judge … The post Judge Grants MTD in FDCPA Case Over Lack of Standing appeared first on AccountsRecovery.net.

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Daily Digest – August 14. Judge Grants MTD in FDCPA Case; Licensing Bill in Calif. Moves Forward

Account Recovery

JUDGE GRANTS MTD IN FDCPA CASE OVER LACK OF STANDING A District Court judge in Florida has granted a defendant’s motion to dismiss after it was sued for violating the Fair Debt Collection Practices Act because it lumped the principal, interest, fees, and expenses it was owed into one amount when filing a proof of … The post Daily Digest – August 14.

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Coronavirus and the Real Estate Market

Debt

Dorothy surely wasn’t thinking of life in a COVID-19 pandemic when she clicked those heels in the “Wizard of Oz” and opined that ‘there’s no place like home.’ But her words have proven true in 2020. In times of a contagious virus and high unemployment, home ownership and home sales are increasing. That may seem […]. The post Coronavirus and the Real Estate Market appeared first on Debt.org.

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Colorado Schedules Meeting to Discuss State FDCPA, Announces Changes to Law’s Provisions

Account Recovery

The administrator of the Colorado Fair Debt Collection Practices Act — the state law in Colorado governing debt collection practices — has scheduled a virtual meeting for later this month aimed at “amending and clarifying” the rules and soliciting new topic for rulemaking. Details of the meeting can be accessed by clicking here.

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How to Renegotiate Your Bills to Save Money

Nerd Wallet

I know, I know. You’ve probably heard all about how you should renegotiate your bills to save money. But that’s easier said than done, right? That’s why I tried it out. I called up some of my service providers and attempted to cut the cost of my bills. Here’s how you can learn from my. Courtney Jespersen is a writer at NerdWallet. Email: courtney@nerdwallet.com.

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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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How To Remove Americollect From Your Credit Report

Better Credit Blog

Have you noticed the name Americollect on your credit report? When you forget to pay a bill, it can lead to a collections account on your credit report from an agency like Americollect. As long as a collections account stays on your credit report, it can hurt your credit score. While paying Americollect the amount you owe might seem like the easiest solution, it won’t necessarily help to improve your credit score.

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Renters at Risk: Ways to Cope in the Financial Crisis

Nerd Wallet

We’re all feeling effects of the current recession, whether it’s the rising cost of groceries or the pervasive economic uncertainty. But some are feeling a bigger impact than others, and data indicates renters are disproportionately affected. Half (50%) of American renters had used or planned to use their government stimulus check for necessities at the.

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Webinar: Combating State Court Consumer Counterclaims

Troutman Sanders

Register. August 27, 2020. 9:00am PT/12:00pm ET. Consumer counterclaims present a frustrating dilemma and tough strategic choices for debt collectors. Essentially required to bring most collection actions in state small claims courts, debt collectors routinely find themselves defending counterclaims, including federal claims before elected judges and state court juries.

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Roadside Assistance Benefits From Your Credit Card

Nerd Wallet

Dealing with an emergency like a flat tire or a dead battery when you’re on the road can be distressing and expensive to resolve. Even if you don’t have a AAA membership, you may have access to a roadside assistance program if you have a credit card that offers this perk. Here’s what you need. Elina Geller is a writer at NerdWallet. Email: egeller@nerdwallet.com.

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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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Construction Industry Webinar: Lien Law for Prime Contractors

Jimerson Firm

Managing Problem Construction Projects in Turbulent Times: Tools for Success is a multi-part education series designed for business owners and leaders in the construction industry. Part 4 of the series was geared towards general contractors, and provided insights and practical tips to use Florida’s Construction Lien Law to their advantage in ensuring payment by the owner on a construction project.

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Credit Card Debt Drops Sharply in 2nd Quarter of 2020

Nerd Wallet

Household debt declined slightly overall from the first quarter of 2020 to the second — but revolving credit card debt saw a significant drop. In a typical year, credit card debt goes down in the first quarter as people pay off holiday bills, then increases slightly in the second quarter, NerdWallet research has found. But. Erin El Issa is a writer at NerdWallet.

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Disney/Viacom/Kiloo Settlements Creating a Future Trend Exceeding Federal Privacy Rights Under COPPA

Troutman Sanders

On August 5, 2020, parents who accused Disney, Viacom, Kiloo, and more than ten other companies of violating parents’ and children’s privacy rights in connection with information collected from children’s video games sought court preliminary approval of a class settlement in three separate but coordinated actions. The three class actions are based on allegations that the companies embedded codes into children’s games “permitting the exfiltration and commercial use of children’s personal data,” i

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Geico Renters Insurance Review 2020

Nerd Wallet

Geico is best known for auto insurance, covering more than 28 million vehicles, but it also offers other types of insurance through its partners. Geico renters insurance is provided by third-party companies — not Geico itself — and you won’t learn which insurer you’ve been paired with until you’ve gotten most of the way through. Sarah Schlichter is a writer at NerdWallet.

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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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Four Key Changes in Collections Since COVID-19 Struck

Fico Collections

The economic impact of COVID-19 has been surreal – months of lockdown and partial lockdown has created a black hole in everyone’s finances, be they a government, a business or consumer. I recently discussed the four key changes in collections we have seen at FICO in an interview with Global Risk Community. Here are those changes. 1. Digital Collections.

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Alternative Funding to Get Your Business Off the Ground

Micro Bilt

There are so many exciting things to consider and look forward to. There are equally many question marks you’re going to need to clear up to get your business off the ground.

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Moderate Small Business Delinquencies Increase

NACM

The U.S. economy is still in the middle of a recovery after a spring drag down caused by government shut downs and other measures to halt the spread of COVID-19. "Defaults are expected to rise in coming quarters as forbearance programs expire and as customers are likely to change their priorities in the wake of COVID-19," according to the second qu.

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Florida Commercial Mortgage Holders Receive Foreclosure Clarification

Burr Forman

On July 29, 2020, Florida Governor Ron DeSantis signed Executive Order 20-180 , which extended the moratorium on residential tenant evictions and residential mortgage foreclosures in the state through the month of August. That order was narrowly tailored to apply only to residential mortgages and tenancies, effectively removing any protections that commercial mortgagees might have been able to claim under the original order.

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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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Florida Governor Renews Housing Protections for Florida Families

Burr Forman

Florida, like the majority of the United States, has enacted several economic protections in response to the coronavirus pandemic, including eviction moratoriums for the non-payment of rent. On Wednesday, July 29, 2020, Florida Governor Ron DeSantis signed Executive Order 20-180 , which extended the moratorium on residential tenant evictions and residential mortgage foreclosures in the state through the month of August.