Wed.Jan 31, 2024

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Daily Digest – January 31. Judge Grants MJOP for Defendant in FDCPA Class-Action Over Different Reference Numbers in Letters; AT&T Rolls Out Branded Caller ID

Account Recovery

Judge Grants MJOP for Defendant in FDCPA Class-Action Over Different Reference Numbers in Letters AT&T Rolls Out Branded Caller ID Arbitration Group Updates Rules to Be More Favorable to Businesses 24 Companies Seeking Collection Talent WORTH NOTING: If you are looking for a new TV in time for the Super Bowl, here are the best […]

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Declining RPC Rates, Rising Consumer Complaints: Why Outbound Calling for Debt Collection Won’t Work in 2024

True Accord

If your business plans to use outbound calling as the main mode of engaging past-due customers in 2024…good luck. Good luck reaching the right number for the target customer. Good luck getting them to commit to repayment over the phone. Good luck not getting complaints. And if the plan is only to use outbound calling…be prepared to start accepting more losses in 2024.

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Judge Grants MJOP for Defendant in FDCPA Class-Action Over Different Reference Numbers in Letters

Account Recovery

A District Court judge in Minnesota has granted a defendant’s motion for judgment on the pleadings in a Fair Debt Collection Practices Act class-action lawsuit that was filed because the plaintiff received two collection letters from the defendant and each provided a different reference number and PIN for the plaintiff to access the debt via […]

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Business Insolvencies at their highest since 1993

UK debt collections

More businesses entered insolvency last year than at any point since 1993, as higher interest rates weigh on UK firms, official data shows. The Insolvency Service said 25,158 companies were declared insolvent last year, up from 22,123 in 2022. But the proportion of firms going bust was not as severe as during the 2008 global financial crisis, owing to more companies in existence, the government agency said.

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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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24 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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AT&T Rolls Out Branded Caller ID

Account Recovery

AT&T announced yesterday that it will be rolling out Branded Caller ID on Android phones and iPhones as a means of fighting robocalls by showing the logo of companies making calls to consumers. The Branded Caller ID is from TransUnion, which purchased Neustar back in 2021.

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Member Spotlight: Fostering Personal and Professional Growth

NACM

Continuous learning is indispensable for credit professionals, serving as the cornerstone for their professional success and organizational effectiveness. By earning designations through NACM's six-level Professional Certification Program, credit professionals gain the necessary knowledge and skills required to advance in their career. Beyond mere.

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Arbitration Group Updates Rules to Be More Favorable to Businesses

Account Recovery

The American Arbitration Association has announced changes to the fee structure for Mass Arbitration filings, making it less expensive for companies who receive multiple filings from consumers.

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AAA Adopts New Mass Arbitration Rules

Troutman Sanders

On January 15, the American Arbitration Association (AAA) issued amended Mass Arbitration Supplementary Rules and new Consumer Mass Arbitration and Mediation Fee Schedules (collectively, the New Rules). The New Rules will apply to all mass arbitration cases filed on or after January 15, but not to any mass arbitrations filed prior to that date. The New Rules aim to reduce friction and enhance process efficiency.

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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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Why would the New York State Attorney General pursue a Debt collection company?

FFGN COLLECT NY

The New York State Attorney General’s job is to protect the citizens of the State from bad actors. That would include pursuing a Debt collection company that acts deceptively and fraudulently. New York State Attorney General Letitia James may be most recognizable from her high-profile cases including the current case against Donald J. Trump and charges brought against former Governor Andrew Cuomo.