Tue.Aug 23, 2022

article thumbnail

Report Breaks Down Medical Debt Burden by Demographics, Geography

Account Recovery

Perhaps not surprising to anyone, the older that people get, the more medical debt they tend to incur, according to a published report. Individuals who are 75 years old and older have, on average, $17,510 or medical debt, nearly double the amount that people who are under the age of 35 are carrying, according to … The post Report Breaks Down Medical Debt Burden by Demographics, Geography appeared first on AccountsRecovery.net.

article thumbnail

The Big 5 Contact Methods- analysed. Number 1: The phone

Collect More

First up today we have our gold medal winner, undefeated and the best by far- ladies and gentleman give it up for: The Telephone! The phone is your best friend folks. The single best way to get paid is by picking it up, calling your customer and asking for your money. Seems so simple I know but you would be shocked at how many people are scared of the phone.

100
100
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Colorado AG Issues Guidance Related to Collection Agencies Working Remotely

Account Recovery

The Colorado Attorney General’s Consumer Credit Unit last week published new guidance related to the enactment of a law governing remote work for licensed lenders while also noting that the guidance originally enacted at the start of the pandemic in 2020 remains in effect for entities not covered by the new law, including collection agencies, … The post Colorado AG Issues Guidance Related to Collection Agencies Working Remotely appeared first on AccountsRecovery.net.

article thumbnail

How to Manage a Credit Card Amid Mental Health Struggles

Nerd Wallet

Personal finance often puts a strain on mental health. Debt, bills, job security and similar matters are major sources of stress and anxiety for many people. Problems can flow in the opposite direction, too: Mental health struggles can make it harder to manage personal finances. Credit cards present a unique challenge. They offer convenience, rewards, Jae Bratton writes for NerdWallet.

91
article thumbnail

Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

article thumbnail

Judge Remands FDCPA Case Over Duplicate Notices, Hunstein Claims Back to State Court

Account Recovery

A District Court judge has granted a plaintiff’s request to remand a Fair Debt Collection Practices Act case back to the state court in which it was originally filed, but declined to award attorneys’ fees, ruling that “jurisprudence in this District and the Second Circuit” on the topic of standing “is still evolving.” A copy … The post Judge Remands FDCPA Case Over Duplicate Notices, Hunstein Claims Back to State Court appeared first on AccountsRecovery.

More Trending

article thumbnail

Daily Digest – August 23. Agency Sued for Failing to Provide Opt-Out Notice in Texts; Judge Remands FDCPA Case Back to State Court

Account Recovery

AGENCY SUED FOR FAILING TO PROVIDE OPT-OUT NOTICE IN TEXTS A collection agency is facing a lawsuit in Georgia for allegedly not including an opt-out disclosure in texts it sent to an individual. While we have seen this claim related to emails, this might be one of the first such cases involving text messages. JUDGE … The post Daily Digest – August 23.

article thumbnail

This Major Travel Cost Is Up 50% Since Before the Pandemic

Nerd Wallet

When making your travel budget, don’t assume that lodging and airfare will be your biggest expense. Now, more than ever, rental cars are shaping up to be one of the biggest — and stubbornly high — aspects of people’s vacation budgets. While airfare and lodging prices are certainly near all-time highs, rental cars are among. Sally French writes for NerdWallet.

82
article thumbnail

Agency Sued for Failing to Provide Opt-Out Notice in Texts

Account Recovery

EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call … The post Agency Sued for Failing to Provide Opt-Out Notice in Texts appeared first on AccountsRecovery.net.

article thumbnail

How to Make Money in One Hour: 7 Realistic Ideas to Try

Nerd Wallet

Good money doesn’t always come easy, but there are legitimate ways to find fast cash. Want the money right away? Chances are you’ll need to part with something nice or provide a service. Other methods may take a little longer. Bottom line: Don’t quit your day job, but do try these realistic ideas to make. Tommy Tindall writes for NerdWallet. Email: ttindall@nerdwallet.com.

81
article thumbnail

The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

article thumbnail

No Comment Period Extension on FTC Proposed Motor Vehicle Dealers Trade Regulation Rule

Troutman Sanders

As we previously posted on June 23, the Federal Trade Commission (FTC or Commission) released a proposed Motor Vehicle Dealers Trade Regulation Rule. This new rule could allow the FTC to regulate dealers exempt from the Consumer Financial Protection Bureau’s (CFPB) jurisdiction under Section 1029(a) of the Dodd-Frank Act and would impose significant limits on how dealers advertise, impose up-front price disclosure requirements, require new paperwork for any optional “add-on” products, and prohib

Trade 52
article thumbnail

State Farm Medicare Supplement Insurance 2022 Review

Nerd Wallet

State Farm is probably best known for auto insurance, but the company also offers medical insurance products including Medicare Supplement Insurance, or Medigap. State Farm sells Medigap policies in most states and members have few complaints about them. However, the prices could be lower, and competitors offer more opportunities for discounts or added perks with.

article thumbnail

Senators Urge CFPB to Increase Consumer Protection Against Payment App Scams

Troutman Sanders

In this episode of The Crypto Exchange , Troutman Pepper Consumer Financial Services Partner Kalama Lui-Kwan welcomes back Keith Barnett and Carlin McCrory to discuss consumer protection under Regulation E and a recent letter from democratic senators, urging the CFPB to hold banks liable for consumer losses when the consumers provide alleged fraudsters with access to their own accounts through payment apps.

article thumbnail

What is Southwest Status Worth?

Nerd Wallet

If you’re looking to achieve elite status on your favorite airline this year, it’s important to know that all status structures are not created equal. It can take a lot of miles (and dollars) to reach elite status, so you should find out if you’re getting your money’s worth before getting started. If you frequently. Alisha McDarris writes for NerdWallet.

70
article thumbnail

Agent Tooling: Connecting AI to Your Tools, Systems & Data

Speaker: Alex Salazar, CEO & Co-Founder @ Arcade | Nate Barbettini, Founding Engineer @ Arcade | Tony Karrer, Founder & CTO @ Aggregage

There’s a lot of noise surrounding the ability of AI agents to connect to your tools, systems and data. But building an AI application into a reliable, secure workflow agent isn’t as simple as plugging in an API. As an engineering leader, it can be challenging to make sense of this evolving landscape, but agent tooling provides such high value that it’s critical we figure out how to move forward.

article thumbnail

Subcontractor Invoice 30 Days Past Due? Here Are Your Options.

FFGN COLLECT NY

Are you a subcontractor or vendor with an invoice that is more than 30 days past due? Perhaps you have reason to believe that the general contractor was paid for the services or goods you provided, but has not paid you. New York lien law offers a number of options to subcontractors and vendors including the option to lien real property. And you do not need to file a mechanics lien to avail yourself of some of the options afforded by Article 3 of the New York lien law.

Banks 52
article thumbnail

How Does Travel Insurance Work?

Nerd Wallet

While every traveler hopes for the best when going on a trip, it’s possible for unexpected outcomes to ruin some or all of your vacation. Travel insurance helps in those unfortunate situations by covering the necessary expenses to get you back on the right track. But how does travel insurance work, how do you buy. Lee Huffman writes for NerdWallet. Email: travel@nerdwallet.com.

68
article thumbnail

The Case for Outsourcing Collections – published August 23, 2022 in Your Virtual Credit Manager

AGA

Don’t Overlook the Strategic Opportunity Provided by Outsourcing Collections. Small businesses have to deal with many of the same challenges as larger ones. A key difference (besides volume of transactions) is the lack of labor specialization. The employees of small companies tend to handle multiple responsibilities – the time devoted to each task can vary greatly as does the proficiency of the person handling those tasks.

article thumbnail

Biden admin will announce decision on student loans in the next week

Collection Industry News

Brad Dress, August 21, 2022. Education Secretary Miguel Cardona on Sunday said the Biden administration is due to announce a decision on whether to extend a pause on federal student loan debt in the next week, butting up to an Aug. 31 deadline when the current moratorium on loan payments expires. Cardona told NBC’s “Meet the Press” moderator Chuck Todd the announcement was forthcoming but declined to share any other details.

article thumbnail

Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

article thumbnail

CMBS Delinquencies Vulnerable to Inflation, Particularly by Metro Area

Collection Industry News

Erik Sherman, August 22, 2022. According to Trepp, CMBS delinquencies, which had been on a decline until a June uptick, are back on their way down again. “After a rare uptick in June 2022, the Trepp CMBS Delinquency Rate resumed its two-year-long decline in July 2022,” the firm writes. “The Trepp CMBS Delinquency Rate in July was 3.06%, a decrease of 14 basis points from June.

article thumbnail

CFPB Asserts New Authority Over Data Security Practices

Collection Industry News

James E. Dionne , 22 August 2022. On August 11, 2022, the Consumer Financial Protection Bureau published a Consumer Financial Protection Circular taking the position that providing “[i]nadequate security for the sensitive consumer information collected, processed, maintained, or stored by … [a] company can constitute an unfair practice” under the Consumer Financial Protection Act (CFPA). 1 Because insufficient data security is likely to cause substantial injury to consumers th

article thumbnail

72% of economists expect a US recession by the middle of next year

Collection Industry News

Matt Egan, August 22, 2022. The Federal Reserve is unlikely to tame inflation without pushing the American economy into a recession, according to a survey of economists released Monday. Seventy-two percent of economists polled by the National Association of Business Economics expect the next US recession will begin by the middle of next year – if it hasn’t already started.

article thumbnail

Education Department offers a second chance to 7.5 million borrowers who defaulted on student loans

Collection Industry News

Annie Nova, August 19 2022. The U.S. Department of Education is giving federal student loan borrowers who’ve fallen behind on their debt a chance to get into current standing. As part of its “Fresh Start” initiative, the 7.5 million student loan borrowers who are in default will be able to return to repayment without a past-due balance. The agency announced the program in April, and on Wednesday released more information on how borrowers may benefit.

article thumbnail

Future-Proof Your Firm: Smarter Tech for Stronger Returns & Simpler Workflows

Speaker: Joe Wroblewski, Senior Sales Engineer

Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!

article thumbnail

Student Loan Payment Pause: What To Expect

Collection Industry News

Zack Friedman, Aug 22, 2022. Here’s what to expect with the student loan payment pause. Here’s what you need to know — and what it means for your student loans. Student Loans. This week could be the most significant period in student loan history. President Joe Biden is considering two major proposals that could impact more than 40 million student loan borrowers.