Top Creditor Collections Today Original Creditor Collections Content for Tue.Nov 16, 2021

FTC Reaches $500,000 Settlement with Payment Processor for Its Role in Alleged Student Loan Debt Relief Scheme

Collection Industry News

NOVEMBER 16, 2021

On November 8, 2021 the Federal Trade Commission (FTC) announced that it entered into a stipulated order with a payment processor, resolving allegations that the payment processor violated Section 5 of the Federal Trade Commission Act (FTC Act) and the Telemarketing Sales Rule (TSR) ???by The order also contains a $27.5

Student loans

Student loans Student Loans Loans Trade

Daniel Bloomgarden Joins Applied Innovation

Account Recovery

NOVEMBER 16, 2021

Bloomgarden brings more than a decade of experience in the accounts receivable management and payment processing industries with him to the company. Dan Bloomgarden recently joined Applied Innovation as its Vice President of Business Development.

Accounts Receivables Management

UK Credit Card Trends for September: Calm Before the Storm?

Fico Collections

NOVEMBER 16, 2021

The month saw average spend fall, growth in payment levels and falling missed payment rates, all suggesting a current state of strong financial prudence. For lenders, however, focus needs to remain on reacting quickly to consumer changes in spend and payment behaviour which might indicate whether they can service their debt.

Lender

Lender Collections

You’re not a bank- how to stop your customers from treating you like one.

Collect More

NOVEMBER 16, 2021

Invoice them as early as possible, confirm on the day payment is due, send a reminder at 3 and 7 days past due, and call them on day 8. Nobody wants to go back on that. Finally, what’s also effective is really tightening up your accounts processes from now until Christmas day. And don’t for a moment feel bad.

Banks

Banks Trade Collections

10 Ways to Improve Payment Collections with Salesforce

For finance teams using Salesforce’s powerful CRM technology, automation can transform accounts receivable processes, driving efficiency and delivering measurable results like cost savings, reduced customer churn, and lower DSO.

Collections

New York Enacts Consumer Credit Fairness Act, Amending Civil Practice Law and Rules and the Judiciary Law

Troutman Sanders

NOVEMBER 16, 2021

The Act also shortens the statute of limitations to file an action to enforce a debt from six years to just three years and makes it so a payment on the debt does not restart or revive the statute of limitations. New Information and Document Requirements When Filing and Prosecuting a Debt Collection Action.

Third-party Debt Collectors

Third-party Debt Collectors Consumer Credit Original Creditor Debt collector

Health Care E-Note November 2021

Burr Forman

NOVEMBER 16, 2021

CMS Issues Calendar Year (“CY”) 2022 Final Medicare Outpatient Prospective Payment System (“OPPS”) Rule. On November 2, 2021, CMS finalized the Medicare payment rates for hospital outpatient and ambulatory surgical center (“ASC”) services in CY 2022 (“OPPS Final Rule”).

Healthcare

Healthcare Government

Does Applying for Food Stamps Affect Your Credit?

Credit Corp

NOVEMBER 16, 2021

For example, if you’re applying for SNAP benefits because you lost your job, you may also have difficulty making your monthly payments to creditors. Late payments and high credit utilization may negatively affect your credit score, but SNAP benefits will not. Does being on welfare affect your credit?

Banks

Banks Government Creditors

More than 10-million in SA have impaired credit records

Collection Industry News

NOVEMBER 16, 2021

National credit regulator warns of worsening indebtedness as payment holidays end. The national credit regulator (NCR) has warned that consumer indebtedness may worsen as the unwinding of payment holidays and debt-relief measures introduced in the midst of the Covid-19 pandemic forces borrowers to start repaying their debts.

Collections

Collections Government

When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

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. Are you finding some snags in your collections process? Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.

Collections

Can Real Estate Replace Bonds in Your Retirement Portfolio?

Credit Corp

NOVEMBER 16, 2021

Interest payments from bonds can provide that steady income. Not all stocks pay dividends, and even those that do can change their dividend payment at any time. The rents from your neighbors cover your mortgage payment and ideally your maintenance costs as well. Stable Income. The same can’t be said for stocks.

Retail

Retail Loans Lender Trade

CFPB Files Complaint Against Pawnshop Lenders For Alleged Military Lending Act Violations

Collection Industry News

NOVEMBER 16, 2021

Households that were supported by direct cash payments and forbearance programs to pause mortgage payments allowed many to largely reduce their credit card debt. Yet, consumers usually pay off these balances in the first quarter of the new year. During the pandemic, however, consumer behavior was atypical.

Lender

Lender Credit Card Debt Banks Loans

Credit Card Balances And Household Debt Rise To Pre-Pandemic Levels

Collection Industry News

NOVEMBER 16, 2021

Households that were supported by direct cash payments and forbearance programs to pause mortgage payments allowed many to largely reduce their credit card debt. Yet, consumers usually pay off these balances in the first quarter of the new year. During the pandemic, however, consumer behavior was atypical.

Credit Card Debt

Credit Card Debt Lender Banks Loans

What happens to a Business Debt when a Company gets struck off?

UK debt collections

NOVEMBER 16, 2021

This is a tactic often used by the HMRC to pursue individuals that are attempting to evade payment of tax etc HMRC investigations have been known to occur up to 20 years after a company was dissolved. Once this is done they can then take debt collection and enforcement action to attempt to collect what is owed by the company.

Creditors

Creditors Debt Recovery Trade Collections

Everything You Need to Know About Crypto

Speaker: Ryan McInerny, CAMS, FRM, MSBA - Principal, Product Strategy

May 18th, 2023 at 9:30 am PDT, 12:30 pm EDT, 5:30 pm BST

Banks

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

NOVEMBER 16, 2021

Among other provisions, SB 153 will (1) lower the statute of limitations on consumer credit transactions to three years (from six), (2) preclude the statute of limitations from being revived through the making of a payment, and (3) require that specific information (such as the name of the original creditor, itemization of debt, and the last four account (..)

Financial services

Financial services Government Consumer Credit Original Creditor