Wed.Nov 15, 2023

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Penn. AG Sues Landlord for Unlawful Collection Practices

Account Recovery

The Attorney General of Pennsylvania yesterday announced she has filed a lawsuit against the owner of 20 apartment complexes, accusing it of unlawful leasing and illegal debt collection practices.

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CFPB Report Highlighting Consumer Protection Issues in Medical Debt Collection

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) issued a report highlighting medical debt collections and challenges faced by American families.

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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.

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UK Business insolvency rises by 18%

UK debt collections

Uk Business insolvency is officially on the rise. The latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for October 2023 was 2,315, 18% higher than in the same month in the previous year (1,954 in October 2022). The UK business insolvencies consisted of 256 compulsory liquidations , 1,889 creditors’ voluntary liquidations (CVLs), 146 administrations, 23 company voluntary arrangements (CVAs) and one receivership appointment.

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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 Quashes Garnishment Against Owner of Payday Lending Company Accused of Hiding Millions to Avoid Fines

Account Recovery

A District Court judge in Kansas has quashed a motion to garnish the property of an individual who was accused of fraudulently trying to hide $13 million in assets as a means of avoiding having to use them to settle $40 million in fines and penalties that were assessed in an earlier enforcement order by […]

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9-in-10 Consumers Say Medical Debt on Their Credit Reports Have Caused Financial Setbacks: Survey

Account Recovery

In a survey that the Consumer Financial Protection Bureau will no doubt begin citing as more evidence for its decisions related to the credit reporting of medical debt, 90% of consumers claimed to have suffered financial setbacks as a result of medical debts on their credit reports.

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Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on the Deposit Insurance Fund Restoration Plan and Designated Reserve Ratio

Consumer Finance

The government’s promise that insured deposits will be protected from loss in the event of a bank failure has been the backbone of banking system stability for 90 years. The Federal Deposit Insurance Corporation’s stewardship of the Deposit Insurance Fund is vital to keeping that promise and maintaining the public’s confidence.

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Daily Digest – November 15. 9-in-10 Consumers Say Medical Debt on Their Credit Reports Have Caused Financial Setbacks; Penn. AG Sues Landlord for Unlawful Collection Practices

Account Recovery

9-in-10 Consumers Say Medical Debt on Their Credit Reports Have Caused Financial Setbacks: Survey Penn.

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Can a Collection Agency Change an Account’s Open Date?

Taurus Collect

Dealing with a collection agency can often feel like navigating a maze, especially when there seems to be a change in your account’s open date. If you’ve found yourself in this situation, you’re likely asking, “Can a collection agency change an account’s open date?” In this blog post, we’ll tackle this question head-on, providing clear and concise answers.

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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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Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on Recouping Losses to the Deposit Insurance Fund from Protecting “Uninsured” Depositors of Silicon Valley Bank and Signature Bank

Consumer Finance

In March 2023, the failures of Silicon Valley Bank and Signature Bank threatened to create cascading stress throughout the banking system and inflict serious damage on the economy.

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Debt Collectors Behaving Badly: A Guide to UK Consumer Rights

Taurus Collect

Understanding your rights as a consumer is crucial when dealing with debt collectors. Unfortunately, many UK consumers are unaware of their legal protections and end up feeling intimidated or helpless when faced with aggressive debt collection tactics. This guide aims to empower you with knowledge and help you navigate these challenging situations calmly and confidently.

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How Many Times Can a Debt Collector Call Me in One Day

Taurus Collect

Experiencing a constant barrage of calls from debt collectors can be overwhelming, to say the least. Many wonder, “How many times can a debt collector call me in one day?” If you’re based in the UK, the answer may surprise you. Regulations around debt collection are strict, and experts from no cure no pay debt collection UK are here to help you navigate these waters.