June, 2022

article thumbnail

Debt Collection Agencies could help save thousands of SME’s

UK debt collections

Debt Collection Agencies could help save thousands of Small Businesses in the UK it is claimed. Almost 500,000 Small Businesses and SME’s in the UK are facing the real prospect of going bust. History shows that taking professional debt collection action can help save the number of Small Businesses from going bust. Recent reports and research make for very bleak reading for the country’s Small Business community.

article thumbnail

Groups Launch Ad Campaign, Issue White Paper, Detailing ‘Unlawful’ Actions at CFPB

Account Recovery

Rohit Chopra, the Director of the Consumer Financial Protection Bureau, has finally gone too far, in the eyes of the U.S. Chamber of Commerce and three national banking trade groups, who yesterday started campaigns to draw attention to what they labeled as Chopra’s “radical agenda and reckless actions.” The Chamber of Commerce launched an advertising … The post Groups Launch Ad Campaign, Issue White Paper, Detailing ‘Unlawful’ Actions at CFPB appeared first on

Trade 246
Insiders

Sign Up for our Newsletter

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

article thumbnail

I can’t believe I’m in collections

American Profit Recovery

Every now and then we will hear this when talking to a consumer and it always reminds me just how important of a role a debt collector plays in the economy. While the person owing the debt may not understand, we have to walk a very thin line at times. This means understanding why the consumer was actually sent to collections. What is our client and many other businesses experiencing across the country that brought us to this point?

article thumbnail

Why Your Business Should Reassess In-House Collections and Agency Partners

Enterprise Recovery

If it ain't broke, don't fix it. But do you know if your collections efforts are broken? If your business has established in-house ( first-party ) collections, accounts receivable and/or debt collection agency partners, it is still a good idea to ensure you're leveraging the best resources, technology, and vendor pricing available. Here's why and how to reassess your in-house collections and B2B collections agency partners.

article thumbnail

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.

article thumbnail

CFPB Helps Survivors Mitigate the Financial Consequences of Human Trafficking

Consumer Finance

Today, the Consumer Financial Protection Bureau (CFPB) issued a final rule to help survivors avoid some of the financial consequences of human trafficking. The CFPB has established, among other things, a method for survivors of trafficking to submit documentation to credit reporting companies that identifies any adverse item of information that resulted from human trafficking.

143
143

More Trending

article thumbnail

How Long It’ll Take for Business Travel to Return to Normal

Nerd Wallet

If you’re a former jet-setter who hasn’t taken a business trip in years, continue to hang in there. Business travel dropped in 2020 and 2021, and it’s still not back. U.S. hotel business travel revenue for 2022 is expected to be 23% below pre-pandemic levels, according to an April report from the American Hotel & Sally French writes for NerdWallet.

116
116
article thumbnail

Judge Grants MSJ for Defendant in FDCPA Case Over Email Sent to Represented Plaintiff

Account Recovery

A District Court judge in Illinois has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case, ruling that emails sent to the plaintiff by the defendant did not violate the statute. The case presents an interesting twist on standing to sue under the FDCPA and communicating with consumers via … The post Judge Grants MSJ for Defendant in FDCPA Case Over Email Sent to Represented Plaintiff appeared first on AccountsRecovery.net.

article thumbnail

A much-needed employee appreciation week

American Profit Recovery

Recently we held our annual employee week and it was a long time coming! It was so refreshing to have our team together again and kick back, relax and have some much-needed fun and games. This has been an annual event for many years at American Profit Recovery but it’s no surprise that we were unable to pull it off for the past two years because of COVID-19.

article thumbnail

What to Look for in a B2B Debt Collections Agency

Enterprise Recovery

When your business contracts with another business, there's an expectation that both parties will honor their obligations, including paying on time. If your clients or business partners aren't following through, your accounts receivable department must devote time and resources in an attempt to collect. Or you can outsource the problem to a collections agency that focuses on this type of debt and respects your client/business relationship.

article thumbnail

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.

article thumbnail

CFPB Seeks Ban Against Operator of Student Loan Debt Relief Scam Reboot

Consumer Finance

Today the Consumer Financial Protection Bureau (CFPB) took action against the owner of a student-loan debt relief company for allegedly withdrawing hundreds of thousands of dollars from student borrowers’ bank accounts, without authorization. The CFPB alleges that Frank Gebase, Jr. controlled a company that took the borrowers’ money after obtaining their names and account information from a previous student-loan debt-relief scammer that the CFPB shut down.

article thumbnail

Glimpse the Future with Peter Zeihan – Strategist, Thinker, Futurist, Speaker

Burr Forman

On June 10, both live and virtual at Burr & Forman’s Birmingham Office, author Peter Zeihan discussed world developments including Ukraine, supply chain issues, the impact on mid-term elections, and more. Peter’s amazing global insights and analysis always leave you wanting more and this presentation was no different. Peter Zeihan has been featured in and cited by numerous newspapers and broadcasts including The Wall Street Journal, Forbes, AP, Bloomberg, CNN, ABC, The New York T

article thumbnail

7 Things Medicare Doesn’t Cover

Nerd Wallet

By the time you turn 65, you probably have a good feel for what health insurance does and doesn’t cover. But Medicare is a different beast — and there are some surprising things that don’t fall under Medicare’s umbrella. Medicare is the federal government’s health insurance coverage for people age 65 and older, and other. Kate Ashford writes for NerdWallet.

115
115
article thumbnail

Daily Digest – June 27. Complaint Alleges Debt Parking Violation; Judge Grants MSJ For Defense in FDCPA Email Case

Account Recovery

COMPLAINT ALLEGES COLLECTOR VIOLATED REG F’S DEBT PARKING PROHIBITION A lawsuit has been filed against a collection agency for violating the Fair Debt Collection Practices Act and the “debt parking” provisions of Regulation F — in what might be the first such lawsuit filed following the enactment of the debt collection rule last November. JUDGE … The post Daily Digest – June 27.

article thumbnail

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.

article thumbnail

Is your accounts receivable program ready for a new economy?

American Profit Recovery

Consumers as well as the business community have been through a lot during the two-plus years of dealing with the COVID-19 pandemic. Many businesses had to drastically alter the way they conducted business and many as you know all too well were forced to shut down completely temporarily. Consumers either lost their jobs, had their hours cut back depending on the industry they worked in, or decided to take on new careers.

article thumbnail

What Does the Building Safety Act for Condominium and Cooperative Associations Mean for My Association?

Jimerson Firm

On May 26, 2022, Florida Governor Ron DeSantis signed the Building Safety Act for Condominium and Cooperative Associations (“Building Safety Act”) into law. The Building Safety Act brings sweeping changes to Florida’s condominium and cooperative association laws, particularly regarding building inspections and reserves. This article will provide an overview of the Building Safety Act with a focus on the key changes and how the Building Safety Act will impact Florida community associations.

98
article thumbnail

CFPB Moves to Reduce Junk Fees Charged by Debt Collectors

Consumer Finance

Today, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion affirming that federal law often prohibits debt collectors from charging “pay-to-pay” fees. These charges, commonly described by debt collectors as “convenience fees,” are imposed on consumers who want to make a payment in a particular way, such as online or by phone.

article thumbnail

DOJ Files Lawsuit Against Meta and Outlines Proposed Settlement Structure Over Allegedly Discriminatory Housing Advertising Practices

Troutman Sanders

On June 21, the Department of Justice (DOJ) filed a lawsuit and a settlement framework with Meta Platforms, Inc. (previously known as Facebook) to resolve allegations that Meta’s advertising placement algorithms discriminate against Facebook users based on their race, color, religion, sex, disability, familial status, and national origin (Protected Characteristics) in violation of the Fair Housing Act (FHA).

article thumbnail

Connect, Care, Convert: Secrets to Establishing Trust with Niche Markets and Turning Them Into Clients

Speaker: Lynnette Khalfani-Cox, The Money Coach®

Niche markets represent a huge opportunity for the financial services industry in America. From college students and women to communities of color and low-to-moderate-income households, niche populations have specialized financial needs – but they often underutilize many valuable financial products and services. How can you better connect with these consumers?

article thumbnail

Greedflation and Stagflation: Who’s to Blame and What to Do

Nerd Wallet

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Everybody’s piling into the “we’re raising prices due to inflation” game. Is it corporate greed or something else that’s.

Education 111
article thumbnail

Judge Grants Defendant’s Motion in FCRA Case Over Disputed Debt

Account Recovery

A District Court judge in Washington has granted a defendant’s motion for judgment on the pleadings in a Fair Credit Reporting Act case, even though the judge took the step of pointing out that the facts of the case were “disheartening,” ruling that a credit reporting agency could not be held responsible for reporting information … The post Judge Grants Defendant’s Motion in FCRA Case Over Disputed Debt appeared first on AccountsRecovery.net.

Judgment 246
article thumbnail

What You Should Know About Debt Collectors

Sawin & Shea

If, like many, you are struggling with debt and are behind on payments, you may be stressed out by all of the calls you are receiving from your creditors. While it is normal and expected for debtors to receive calls or notices in the mail or email from their creditors and debt collectors, it is not okay for them to harass you or intimidate you. Creditor harassment is unlawful, and there are many other things that debt collectors don’t want debtors to know to make it easier for them to get away w

article thumbnail

How to Establish Credit with a Credit Builder Loan

Better Credit Blog

Getting loans, credit cards and other types of credit can be difficult for borrowers without a good credit history, queue, a credit builder loan. Trying to get approved for credit can be a sort of Catch-22: Creditors want proof that you’ve handled a credit card well before, but without a credit card already in hand it can be hard to show you’re a good risk.

Loans 95
article thumbnail

Successful Change Management with Enterprise Risk Management

Speaker: William Hord, Vice President of ERM Services

A well-defined change management process is critical to minimizing the impact that change has on your organization. Leveraging the data that your ERM program already contains is an effective way to help create and manage the overall change management process within your organization. Your ERM program generally assesses and maintains detailed information related to strategy, operations, and the remediation plans needed to mitigate the impact on the organization.

article thumbnail

CFPB Report Highlights Experiences of Military Families with Medical Billing, Credit Reporting, and Debt Collection

Consumer Finance

Today, the Consumer Financial Protection Bureau (CFPB) released its annual report on the top financial concerns facing servicemembers, veterans, and military families, based on the complaints they submitted to the CFPB. Servicemembers told the CFPB about billing inaccuracies and that debt collectors used aggressive tactics to recover allegedly unpaid medical bills.

article thumbnail

FCC Acts to Curb Foreign-Originated Illegal Robocalls, Imposes Several New Requirements on Gateway Providers

TCPA

Recently, on May 20, 2022, the Federal Communications Commission (“FCC”) issued a Report and Order (“Order”), as well as a Further Notice of Proposed Rulemaking (all available here), with a plain objective: to “take further steps to stem the tide … Continue reading →

91
article thumbnail

FIRE: Financial Independence, Retire Early

Nerd Wallet

Sitting at your desk daydreaming about bottomless mimosas and unlimited naps instead of working until retirement age in your mid-60s? It could be more than a daydream because of movements such as Financial Independence, Retire Early. Also known as FIRE, this financial movement is helping people globally achieve retirement quicker. What is Financial Independence, Retire.

111
111
article thumbnail

CFPB Issues Rule Outlining How States Can Enact Credit Reporting Laws

Account Recovery

Just because grandma allows your kids to run in her house does not mean that you have to let them run in yours, the Consumer Financial Protection Bureau announced to states yesterday, issuing an interpretive rule reminding them that the Fair Credit Reporting Act does not preempt states from enacting their own credit reporting laws, … The post CFPB Issues Rule Outlining How States Can Enact Credit Reporting Laws appeared first on AccountsRecovery.net.

246
246
article thumbnail

How Preparation and Strategy Can Be Used to Fight and Defeat Any Ransomware Attack

Speaker: Karl Camilleri, Cloud Services Product Manager at phoenixNAP

Did you know that 2021 was a record-breaking year for ransomware? The days of a “once in a while” attack against businesses and organizations are over. Cyberthreats have become a serious issue. With 495.1 million attacks, the threat marked a 148% increase compared to 2020 and was the most expensive year on record! As a result, data protection needs to be a concern for most banks, businesses, and information technology specialists.