Mon.Oct 12, 2020

How to Handle College Loan Debt as an Unemployed Recent Grad

Nerd Wallet

Entry-level jobs are scarce for recent college graduates, which leaves the Class of 2020 in a precarious position as their student loan debt comes due.

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Construction Industry Concerned Over Pandemic’s Long-Term Impacts

NACM

Eight months into the pandemic, construction professionals are raising concerns over potential long-term impacts leading into the coming year.

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Consumer Financial Protection Bureau Settles with Nissan Motor Acceptance Corporation for Illegal Collections and Repossession Practices

Consumer Finance

The Consumer Financial Protection Bureau issued a consent order against Nissan Motor Acceptance Corporation, which services auto loans and leases originated by Nissan and Infiniti dealerships nationwide. Press release Auto loans Enforcement

Crown Asset Management Continues Its Commitment to Atlanta’s Frontline Workers

Account Recovery

Through October 28, Crown Asset Management (“CAM”) is matching each dollar donated to Feed the Frontlines, a program offered by Gourmet Innovations Catering & More.

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How to Invest in CDs: 3 Strategies

Nerd Wallet

When choosing a certificate of deposit, you might ask yourself — or the internet — whether you’re getting the best rate. After all, once you have a CD, you lock in that rate for months or years. You can’t predict exactly what CD rates will look like in the future, but you can use strategies.

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Maine Credit Reporting Amendments Pre-Empted by FCRA, Judge Rules

Account Recovery

A District Court judge in Maine has granted a trade association’s motion for judgment after it sued the state for enacting laws that governed how, among other things, medical debts are reported to credit reporting agencies by collection agencies.

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More Trending

Wash. State Collection Board Extends Emergency Remote Work Rule, Moving Forward With Permanent Proposal

Account Recovery

The Washington Collection Agency Board, under the state’s Department of Licensing, has extended an emergency rule allowing collection agency workers to continue working from home while also starting work on a permanent rule to allow working remotely to continue unimpeded.

12 Biggest Personal Financial Mistakes That Doctors Make

Nexa Collect

Doctors are smart people. But even smart people make dumb mistakes sometimes. Going to medical school doesn’t guarantee that you how to handle your finances. Newly minted physicians earn high incomes but have large amounts of student debt, and generally require specialized insurance.

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Compliance Digest – October 12

Account Recovery

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics.

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5 Tips for Negotiating Salary (yes, even now)

The Kaplan Group

Negotiating salary intimidates a lot of job hunters, especially in today’s economy. In addition to the health crisis, Covid-19 has caused an economic and employment crisis. The official unemployment rate hit a high of 14.7 percent in April, and continues to hover around 7 to 8 percent.

Judge Denies MTD in FDCPA Case Over Intangible Injuries

Account Recovery

A District Court judge in Florida has denied a defendant’s motion to dismiss a complaint for lack of subject matter jurisdiction after the judge had already granted summary judgment in favor of the plaintiff, choosing to take a second look following a ruling in an Appeals Court case.

Power up your ERP for flexible credit management

On Guard

An Enterprise Resource Planning (ERP) system is a powerful tool for credit management and most companies, of all sizes, are now implementing ERP, according to a recent report.

Daily Digest – October 12. Judge Denies MTD in FDCPA Case Over Intangible Injuries; Maine Credit Reporting Amendments Pre-Empted by FCRA, Judge Rules

Account Recovery

10 Countertop Materials to Make Your Kitchen Pop

Nerd Wallet

Replacing kitchen countertops is one of the most transformative aspects of any kitchen remodel. But with countless options, the decision can feel overwhelming. That’s why we’ve done some of the homework for you. Here’s our quick guide to 10 of the most popular kitchen countertop materials.

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Essential Resources for Native American Small Businesses Owners

Rocket Lawyer

The American Indian and Alaska Native populations experienced strong growth between 2000 and 2010, increasing by 39% according to the 2010 U.S. Census. While strong population growth is a good sign, troubling disparities between unemployment and poverty rates still exist.

Is Sallie Mae a Federal or Private Loan?

Nerd Wallet

Key takeaways All Sallie Mae loans taken out since 2014 are private. The best way to determine if you have federal or private student loans is to check studentaid.gov. If you need to borrow money for college, exhaust federal student loans before taking out a private student loan.

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Commercial Leases Most Impacted by COVID-19

Rocket Lawyer

The COVID-19 pandemic has ushered in unprecedented challenges for people in nearly every industry, but the commercial real estate industry has been particularly hard hit. Initially, stay-at-home and shelter-in-place orders required people to stay home for weeks, which then led to months.

Looking to Transfer Credit Card Points? Target These Partners

Nerd Wallet

Travel credit cards with flexible points can offer excellent value. They can also seem dizzyingly complicated. Should you use the points to book travel directly? Transfer to partners? If so, which partners offer the best value?

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CFPB, FTC, Federal and State Law Enforcement Crackdown on Corrupt Debt Collectors

Collection Industry News

On September 29, 2020, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC), along with more than 50 federal and state law enforcement partners, announced a nationwide law enforcement and outreach initiative designed to protect consumers from phantom debt collection, and abusive and threatening debt collection practices. The CFPB is actively working to protect consumers from illegal actions of debt collectors,” CFPB Director Kathleen L.

Class of 2019 Borrowed Less, Report Finds

Nerd Wallet

The average debt among undergraduate students with loans in the class of 2019 is $28,950, according to a new report from The Institute of College Access and Success, a nonprofit focused on higher education research and advocacy. That debt marks a slight decrease from $29,200 for the class of 2018.

Eleventh Circuit Affirms Dismissal of FDCPA Suit Over SOL

Collection Industry News

The Court of Appeals for the Eleventh Circuit affirmed the dismissal of a Fair Debt Collection Practices Act (“FDCPA”) lawsuit finding Georgia’s six-month statute of limitations renewal statute did not apply to the FDCPA. In Edwards v. Solomon & Solomon , Edwards filed a Complaint against Solomon and Solomon (“Solomon”), a third-party collection agency in Georgia State Court, alleging violations of the FDCPA. Solomon removed the case to federal court based on federal question jurisdiction.

Smart Money Podcast: Reducing Taxes, and Picking the Best Investing Platform

Nerd Wallet

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. This week’s episode starts with a discussion of the few remaining ways people can reduce their tax bills, including contributing more to retirement and health care funds.

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Yes, Debt Collectors Can Still Call Numbers Supplied to Creditors as Part of Underlying Transaction

Collection Industry News

Really quick one for you. TCPAWorld is so topsy-turvey that it is good to level set and remind ourselves of some basics once in a while. Here’s some bedrock—debt collectors can call numbers supplied by the consumer to an original creditor as part of a credit transaction. The consent flows “downhill” in that instance, automatically. That’s been the case since 2009, but here’s a ruling from yesterday that says it again: Amadasun v. DataSearch, Inc., October 6, 2020).

Is the Blue Delta SkyMiles Card From AmEx Worth It?

Nerd Wallet

Finding a no-annual-fee credit card is simple enough, but finding a no-annual-fee card that offers competitive rewards and benefits is harder.

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Washington, DC Extends its COVID-19 Collection Ban

Collection Industry News

For those who were holding their breath until they could restart collecting debts in Washington, DC, it appears they’ll have to hold it a little longer. In response to the COVID-19 pandemic, Washington, DC issued a stringent blanket ban on collections within its jurisdiction to last until 60 days after the emergency order is lifted. That emergency order has now been extended to last through December 31, 2020. The initial collection ban order went into effect in April.

SkyTeam Alliance Award Sweet Spots and Transfer Partners

Nerd Wallet

Airline alliances offer benefits, diverse destinations and plenty of confusion for even the most veteran travelers. The SkyTeam Alliance includes 19 separate airlines, each with its own award chart, routing rules and transfer partners, so wading through all the options is nearly impossible.

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FCC To Review TCPA Regulatory Exemptions Per TRACED Act

Collection Industry News

In its continuing actions to implement the TRACED Act, the Federal Communications Commission (FCC) has issued a Notice of Proposed Rulemaking (NPRM) to address Section 8 of the statute. Therein, Congress directed the FCC to “ensure that any exemption [under the Telephone Consumer Protection Act (TCPA] granted under sections 227(b)(2)(B) or (C) [of the TCPA]allowing callers to make artificial voice, prerecorded voice, or autodialed calls without consent include certain conditions.”

Alternative Consumer Credit Data Plays an Important Role in Financing

Micro Bilt

The year 2020 is one that will live on in infamy long after the chaos of global pandemic and the financial fallout of a nation shutting down for several months have passed.

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Collection Industry News

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New Data Shows 3x Jump in Medical Equipment Fraud

Fico Collections

Nothing presents more opportunities to fraudsters than change, and 2020 has served up plenty. As the COVID-19 pandemic has unfolded, we’ve seen rapid change in a wide range of consumer behaviors. This has yielded a rise in medical equipment fraud and put banks’ fraud detection systems into overdrive.

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Whoa! Court Holds TCPA Unconstitutional as Applied to Calls Made Before July 6, 2020

Collection Industry News

A federal district court in Louisiana held this week that the TCPA is flat out unconstitutional as applied to any calls made between November 2015 and July 6, 2020. Let me say that again. Unconstitutional. As to all calls prior to July 6, 2020. Still not doing it justice. A COURT JUST RULED THAT NO TCPA LAWSUITS ARE ALLOWED FOR CALLS MADE PRIOR TO JULY, 2020! That’s the stuff.