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1. If your customer is a business, establishing their correct entity is a must. ABN Lookup is good for this but if you’re still stuck, the Terms and Conditions or Privacy Policy section of their website is also a goldmine. It’s almost always at the bottom of their homepage. 2. If they promise to pay, always confirm in writing and ALWAYS ask them to reply to indicate they agree. 3.
Improving your cash flow and understanding how debt collections fit into your business should be an important part of how you operate in 2022. If you continue to struggle with customers not paying you and you feel you have an ongoing need for debt collections , you’ll want to consider how collection activity around your accounts receivable process will fit into the coming year.
Having one debt to pay off is stressful enough as it is. But it’s a much bigger headache if you owe debts to multiple places, as your odds of forgetting a payment will increase, and the varying interest rates between the different debts can end up taking a bite out of your wallet. If you have multiple debts, such as overdue credit cards you need to pay down, a debt consolidation loan might be able to help you to better keep track of what you owe by getting it all in one place, perhaps even at a
JUDGE AWARDS $265K TO PLAINTIFFS’ ATTORNEYS IN FDCPA CASE A District Court judge in Nebraska has rejected a defendant’s objection to the award of attorney’s fees in a Fair Debt Collection Practices Act case, and has agreed to the plaintiff’s request to award more than $265,000 while also denying a request from the defendant to … The post Daily Digest – December 31.
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.
As more people quit their jobs for better benefits and work-life balance, 32% of Americans have turned to entrepreneurship. Many entrepreneurs started their businesses alongside their full-time jobs, consulting or providing services to friends or businesses in their professional network. If you're looking to take the leap in the next year, allow us to offer some valuable advice and lessons learned.
Today the Consumer Financial Protection Bureau (CFPB) issued a series of orders to five companies offering “buy now, pay later” (BNPL) credit.
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Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
If you thought navigating the thousands of available cryptocurrencies was confusing, prepare to have your mind blown by NFTs. These one-of-a-kind digital assets number in the millions, offering their buyers ownership of digital content such as images, videos and music. NFTs — short for nonfungible tokens — have in some cases fetched staggering sums.
There is one thing we have spent an enormous amount of time on here in American Profit Recovery and that is making sure all clients have an enjoyable and productive experience with our team. People compliment us every day when they call our front desk because they can tell the person answering the phone is smiling. You can hear it in their voice. It doesn’t matter if you come to us for commercial debt collections or medical collections, we want to make sure that your journey with our team
DeFi is a collective term for financial products and services that are accessible to anyone who can use Ethereum over the internet. DeFi Apps are built on the Ethereum blockchain. List of contents. What is DeFi? What exactly is DeFi? What is so special about DeFi? Why do we need decentralized finance? What are the use cases of DeFi? What are the reasons underlying DeFi as an emerging business trend?
A default judgment obtained in an underlying collection lawsuit is enough of a concrete injury for a plaintiff to have standing in a Fair Debt Collection Practices Act case, a District Court judge in California has ruled, disagreeing with the plaintiff’s contention that he does not have standing and denying his motion to remand the … The post Judge Denies Plaintiff’s Motion to Remand FDCPA Case Back to State Court appeared first on AccountsRecovery.net.
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.
A new business takes time, dedication, and wearing lots of many hats. If you're growing your business and want to attract more capital, it's time to protect your cash flow. This free downloadable guide will help you discover how to prioritize your accounts receivable so you don't have to waste time chasing down payments. A Startup Guide to B2B Accounts Receivable and Collections.
Banks continue to rely heavily on overdraft and non-sufficient fee (NSF) revenue, which reached an estimated $15.47 billion in 2019, according to research released today by the Consumer Financial Protection Bureau (CFPB).
It starts innocently enough. You open one travel rewards credit card to help subsidize an upcoming trip. While on that trip, the flight attendant announces that you can earn enough miles for two round-trips with a new card, and you jump at the chance to apply in-flight. From there, you’re hooked. Once you learn how. Erin Hurd writes for NerdWallet. Email: ehurd@nerdwallet.com.
It should be no secret to anyone owning or running a business. It is slowly getting more expensive to operate a profitable business and it is not getting any less costly. Costs associated with just about everything on your expense sheet have gone up during the past 12 months. And as you’ve also seen, the pandemic caused many people to spend more money.
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.
Businesses throughout Florida should be aware of consumer statutes that provide remedies to consumers and impose liability to businesses, even for small technical violations. Two important statutes for all businesses to be aware of are the Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA). This article discusses the similarities and differences between the FDCPA and the FCCPA.
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. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.
Chasing down late payments is no one's idea of fun. Have you considered making it easier for your clients to pay what's owed to you? To protect your cash flow and increase working capital, it may be time to consider some updates to your accounts receivable and invoicing process. Here are the top A/R trends to get those late payments finally paid!
Today, the Consumer Financial Protection Bureau (CFPB) announced that LendUp Loans has agreed to halt making any new loans and collecting on certain outstanding loans, as well as to pay a penalty, to resolve a September 2021 lawsuit alleging that it continued to engage in illegal and deceptive marketing in violation of a 2016 CFPB order. The lawsuit also accuses LendUp of violating fair lending regulations.
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!
IBuyers are one of the few true innovations to hit the real estate industry in recent years. Yet consumers haven’t fully embraced them because of misconceptions about how iBuyers work, and what types of problems they resolve for sellers and buyers. An iBuyer (for “instant buyer”) is a company that uses technology to make an. Holden Lewis writes for NerdWallet.
We’ve always been big advocates when it comes to educating consumers on their rights when it comes to debt collections as well as how to effectively work with a collector to take care of financial obligations. Our professional debt collectors maintain honest and open communications when they’re doing their job and they provide the resources available to make sound decisions.
The holiday season is a time of celebration. Homeowners often take part in the celebration by decorating their homes with a variety of decorations and lights to suit the season. However, these holiday decorations are often left out long after the season ends. This article will provide an overview of what a homeowners association can do to prevent these decorations from staying up all year without limiting the festivities.
HUNSTEIN FILES BRIEF WITH ELEVENTH CIRCUIT IN PREPARATION FOR EN BANC HEARING By using a mail house to print and mail a collection letter, thus “exposing … non-public information to an unauthorized third party,” the plaintiff-appellant in Hunstein v. Preferred Collection & Management Services suffered a concrete injury and thus has standing to sue, his attorney argued … The post Daily Digest – December 29.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
The bankruptcy process involves looking at your assets. In a Chapter 7, or liquidation bankruptcy, some of your property may not be protected, and you could lose it. Every state has different property exemption rules. Most Chapter 7 filings are what we call a “no asset” case. However, after you file, a bankruptcy trustee will review your list of exempted assets to determine whether or not you have the right to protect the claimed property.
The Consumer Financial Protection Bureau (CFPB) today issued a Supervisory Highlights report, which shines a light on legal violations identified by the CFPB’s examinations in the first half of 2021. The report also highlights prior CFPB supervisory findings that led to public enforcement actions in the first half of 2021.
This article provides information for educational purposes. NerdWallet does not offer advisory or brokerage services, nor does it recommend specific investments, including stocks, securities or cryptocurrencies. The new year offers time to set goals, especially if you have a debt hangover from the extra spending the holiday months require. While Gatorade and Advil won’t help much.
While change is the only constant, one thing is certain. External events like the pandemic will continue to transform customer behavior in a permanent manner. Customers are becoming more sophisticated and the same goes with the solutions they expect from financial institutions. Luckily, customer data are flowing like an ocean around us. Their use has the potential to give lenders the missing piece of the puzzle on how to address their customers’ needs and, ultimately, to increase Return on Exper
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.
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