December, 2022

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What happens when debt collectors are nice to consumers?

American Profit

Consumers and the business community should be comforted knowing there has been a consistent industry-wide effort in collections to humanize the process. More and more collection agencies understand the value and critical nature of tactful and respectful communications with consumers.

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Know your options: Basic debt collection tools

Collections Law

Getting payment on late debt is not always an easy task. Thankfully, businesses do not need to go through this process on their own. Business owners can work with legal counsel to help locate and collect that money. At the Law Offices of Alan M.

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4 Signs Your B2B Collections Policy Isn't Working

Enterprise Recovery

The objective of an effective collections policy is to ensure that clients pay on time. The policy will also determine what happens when the client doesn't pay within the timeframe of their payment terms.

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Consumers Are Making Financial Resolutions for 2023 – Here’s What You Can Do

True Accord

When it comes to New Year’s resolutions, improving personal finances isn’t anything new. But as we look ahead to 2023, we see more and more Americans adding serious financial goals to their list. A recent Ascent survey found 66% of Americans plan on making a financial resolution.

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The Power of Storytelling in Risk Management

Speaker: Dr. Karen Hardy, CEO and Chief Risk Officer of Strategic Leadership Advisors LLC

Join this exclusive webinar with Dr. Karen Hardy, where she will explore the power of storytelling in risk communication as a core component of a resilient organization's management framework!

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4 more myths about debt collections DEBUNKED

American Profit

Have you ever wanted to know the real story behind the debt collection industry? Want to get the inside scoop on how things really are in the world of debt collections? We got you covered here! There are untold amounts of myths regarding collection agencies and how they operate.

More Trending

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CFPB Orders Wells Fargo to Pay $3.7 Billion for Widespread Mismanagement of Auto Loans, Mortgages, and Deposit Accounts

Consumer Finance

CFPB is ordering Wells Fargo Bank to pay more than $2 billion in redress to consumers and a $1.7 billion civil penalty for legal violations across several of its largest product lines. Press release Civil Penalty Fund Enforcement

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5 Ways to Build Your Credit Score in 2023

Nerd Wallet

Lauren Schwahn writes for NerdWallet. Email: lschwahn@nerdwallet.com. Twitter: @lauren_schwahn. The article 5 Ways to Build Your Credit Score in 2023 originally appeared on NerdWallet. Credit Score Personal Finance

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Accounts Receivable and Business Collections Trends for 2023

Enterprise Recovery

It's time that we review our blog posts from the past year to discover any trending topics for 2023. In previous years, we've used this annual review to learn insights on how we can do better for our readers. Let us know if there's a topic that we can do better for you in the upcoming year.

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Tax Changes Incoming for Research and Experimental Expenditures

Fraser

For tax years beginning in 2022, research and experimental (R&E) expenditures are no longer immediately expensed but rather must be amortized over five years (15 years for foreign expenditures).

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How to Attract Multiple Generations to Open New Accounts and Apply for Loans

The experiences of every generation are characterized by their behaviors involving finances. Understanding these attitudes and using them to inform marketing messages enables community banks, regional banks and credit unions to better serve their customers.

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Celebrating the holidays American Profit Recovery style

American Profit

The team here at American Profit Recovery always takes time to ring in the holiday season.

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Understanding How Management Training is Different from Regular Training

Account Recovery

Teaching someone to be a collector is a fairly straightforward process because you know at the end of the training, you want those individuals to be able to collect debts, compliantly, empathetically, and persuasively.

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Tesla buyers forced to arbitrate disputes

Public Citizen

The New York Times reports: Until last month, a class-action lawsuit by Tesla owners looked as if it would reveal new details about the carmaker’s self-driving technology, which has been blamed for serious accidents and deaths. But then Tesla deployed a legal strategy that has allowed it to avoid the kind of attention-grabbing lawsuits other carmakers regularly contend with. The company asked a judge to send the case to an arbitrator, who would hear it in private.

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4 Key Metrics for Measuring Digital Campaigns in Accounts Receivable

PDC Flow

Every debt collector knows the struggle of getting consumers to answer their phones. Digital campaigns can better engage people who want to pay without requiring them to answer a call. But you need to collect certain key metrics to know these new tactics are working.

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Everything You Need to Know About Crypto

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

This exclusive webinar with Ryan McInerny will teach you all about cryptocurrency and NFTs! Register to learn more about identifying crypto transactions, crypto asset market trends, managing risk and compliance, and supporting customers and partners using crypto-based payments.

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Don't Let Past Due Invoices Ruin Your Holidays!

Enterprise Recovery

The holidays are a special time when your business breathes out a sigh as one year ends and another begins. Right? Before that happens, there is much to do! The end of the year signals the looming beginning of tax preparation and budget decisions.

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Questions to Ask Your Mortgage Modification Lawyer

Sawin & Shea

Many people struggle with asking for help from a mortgage modification lawyer when they truly need it. And when it comes to needing financial help, that task is even more difficult. There is a negative stigma associated with financial assistance that makes many people feel embarrassed or ashamed.

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Co-Buying a House: How Platonic Partners Make It Work

Nerd Wallet

Abby Badach Doyle writes for NerdWallet. Email: abadachdoyle@nerdwallet.com. The article Co-Buying a House: How Platonic Partners Make It Work originally appeared on NerdWallet. Home Affordability Mortgages

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Judge Grants MTD in FDCPA Case Over Lack of Interest Disclosure on MVN

Account Recovery

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Effortless. Efficient. Enjoyable. Collection Software Built for Collectors.

Looking for a cloud-based collection platform that keeps track of accounts across teams, providing customizable workflows to keep collectors in sync with their collection strategy?

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Five Stories that Matter in Michigan This Week – December 30, 2022

Fraser

NIL Legislation Takes Effect December 31, 2022. Michigan House Bill 5217 which was passed into law in 2020, takes effect December 31, 2022 and sets new standards for how student-athletes can earn compensation for the use of their name, image, and likeness (“NIL”) in Michigan.

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The Southwest Airlines Debacle

Public Citizen

A good technical explanation and a refreshing suggestion:  that the remedy is removing the liability shield and allowing the threat of serious financial consequences to counteract the incentives to limit protections for the flying public

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How to Recover After Losing a Client

Enterprise Recovery

Losing a client after establishing a relationship and putting in work efforts can be disruptive to any organization. It's especially painful if you're working as an independent contractor, freelance, or as a growing business.

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The Payment Ecosystem Explained: How Your Business Gets Paid

PDC Flow

All companies take payments but many don’t understand how the payment industry works behind-the-scenes. The digital payments landscape is complex, and with new technologies emerging, the greater payment ecosystem continues to evolve.

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Exploring the Overlap: Cost Optimization and Digital Transformation

Speaker: Alex Jiménez, Managing Principal, Financial Service Consulting for EPAM

The largest banks have increased reserves for protection against deteriorating economic conditions. Should banks delay their digital transformation investments and focus on cost reductions? In this webinar, Alex Jiménez will walk us through that question and examine the prudent course of action.

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Hawaii Tourism Is Way Up — and It’s Just Getting Started

Nerd Wallet

Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com. Twitter: @SAFmedia. The article Hawaii Tourism Is Way Up — and It’s Just Getting Started originally appeared on NerdWallet. Travel Vacations & Trip Planning

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A Special Thank You, From Me to You

Account Recovery

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Five Stories that Matter in Michigan This Week – December 16, 2022

Fraser

Cabinet Changes Announced for Governor Whitmer’s Second-Term. Last week, Governor Whitmer announced changes in leadership for several state departments.

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CFPB Finds Members of the Reserves and National Guard Paying Millions of Dollars in Extra Interest Each Year

Consumer Finance

Today, the Consumer Financial Protection Bureau (CFPB) released research revealing that Reserve and National Guard members called to active duty are paying an extra $9 million in interest every year because they are not always receiving the benefit of their right to rate reductions under the Servicemembers Civil Relief Act.

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The Anti-Money Laundering Act of 2020: Initial Catalysts, Current Implications, and Future Impacts

Speaker: Elizabeth "Paige" Baumann, Founder and CEO of Paige Baumann Advisory, LLC

In this session, Elizabeth “Paige” Baumann will cover the Anti-Money Laundering Act of 2020, which also includes the Corporate Transparency Act. She'll take a deep dive into the catalysts that brought on the act, the current implications of the act, and what impacts the act has on the future of banking and finance.