Wed.Sep 27, 2023

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More Consumers Struggling to Pay Medical Debts; Cite Inflation as Culprit

Account Recovery

The number of consumers who have had a medical debt sent to a collection agency has increased in 2023 compared with last year, and more than one-third of consumers owe at least $1,000, according to the results of a survey released this week by

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Top KPIs for Your Recovery Operations

True Accord

The goal of a recovery operation is to maximize profitability by efficiently recovering money lent to consumers— while maintaining consumer loyalty. This means that measuring the success of a recovery strategy goes beyond just dollars and cents and into consumer-centric metrics as well. But how do teams measure overall portfolio performance, and what are the most important portfolio-level key performance metrics (KPIs)?


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Daily Digest – September 27. WSJ Editorial Calls Out CFPB’s Medical Debt Credit Reporting Plan; More Consumers Struggling to Pay Medical Debts

Account Recovery

WSJ Editorial Calls Out CFPB’s Medical Debt Credit Reporting Plan More Consumers Struggling to Pay Medical Debts; Cite Inflation as Culprit BK Filings Spike, Reach ‘Dangerous’ Level 24 Companies Seeking Collection Talent WORTH NOTING: Details on a solar eclipse, which parts of the U.S.

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What Does THD/CBNA on My Credit Report Mean?

Credit Corp

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Can you pay a loan with a credit card? Yes, paying a loan with a credit card is sometimes possible. Yet, whether or not you can do so depends on factors such as the lender’s policies or the type of loan you want to pay off.

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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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BK Filings Spike, Reach ‘Dangerous’ Level

Account Recovery

The number of consumers filing for bankruptcy protection is spiking, possibly as a return to normal figures that were artificially lower during the COVID-19 pandemic, but also potentially as a sign that consumers are overextending themselves and feel like they have no other options.

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What Employers Need to Know About the “Executive” Exemption Under the Federal Fair Labor Standards Act (FLSA)

Jimerson Firm

The Fair Labor Standards Act (FLSA) provides important protections for American workers, ensuring they receive fair compensation for their labor. However, not all employees are covered by the minimum wage and overtime pay provisions of the FLSA. Enter the concept of “exempt employees,” a term referring to those who are exempt from these specific protections.

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The Power of the Individual Taxpayer Identification Number (ITIN)

Prosperity Now

There are few nine-digit combinations that can be as useful as an Individual Taxpayer Identification Number (ITIN), but many people are not aware of its various applications. We’re here to demystify the ITIN.

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CFPB Seeks to Remove Medical Bills from Credit Reports

Burr Forman

On September 21, 2023, the CFPB announced it is undertaking a rulemaking process to remove medical bill tradelines from consumer reports and prohibit creditors from relying on medical bills during underwriting. Under the Small Business Regulatory Enforcement Fairness Act of 1996 (SBREFA) and the Dodd-Frank Act, the CFPB is required to consult with representatives of small entities that would likely be directly impacted by the CFPB’s proposed regulations.

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US debt rises to $33 trillion as government shutdown looms

Collection Industry News

As the US national debt passes $33 trillion and a government shutdown looms, Wall Street feels defensive. That shutdown could sour sentiment and deal a blow to an economy already dealing with high gas prices, autoworker strikes and elevated inflation — with some saying it could even increase the possibility of a recession. Fitch sent Congress a wakeup call after the debt limit fight earlier this summer.

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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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Member Spotlight: Build Your Credit Career with Designations


The credit industry plays a pivotal role in modern economies, facilitating access to financial resources for individuals and business alike. By earning designations through NACM's Professional Certification Program, credit professionals can take various courses that allow them to increase their knowledge of business credit and become experts in the.