UK debt collections
MARCH 16, 2022
It will come as no shock that the main objective of any business is to make more money than it loses. Staying in the black is essential for the longevity of business but there are times when debt can be the best option. Businesses using debt as a means to acquire additional assets is nothing new yet recent data revealed that 52% of UK businesses are now being crippled by toxic debts.
FFGN COLLECT NY
MARCH 31, 2022
Some creditors voluntarily decide to participate in mediation for debt collection. For others, mediation may be mandatory based on the terms of the underlying agreement between the parties or ordered by the court. As such, it’s important to understand how non-binding mediation can affect your overall debt collection case. One of the most important aspects of debt collection is maximizing a client’s return on investment.
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Roths Child Law
MARCH 11, 2022
A bankruptcy can be a good way to get your financial health back on track, but it also comes with some limitations. It may make it so it’s harder for you to get credit or loans in the future, at least for a few years. If you do need a personal loan after your Chapter 7 or Chapter 13 bankruptcy, it may be possible to get it. The length of time it will take for you to get a loan will depend on the kind of bankruptcy you chose as well as how long it has been since you went through it.
Account Recovery
MARCH 31, 2022
The “Getting to Know” series is sponsored by Applied Innovation. Applied Innovation is helping to shape the future of accounts receivable management. Product development is driven by customer feedback, agency profitability and compliance and includes platforms addressing client portal access, document management, payment negotiation, Regulation E focused electronic payment authorizations and TCPA communication authorization platforms. … The post Getting to Know Amber Russo of K
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.
American Profit Recovery
MARCH 2, 2022
Before sending any customer to a debt collection agency, it’s important for a business of any size to conduct its due diligence to try and resolve that matter. Having an established relationship with a reputable collection agency is an important part of your overall accounts receivable program. But it is critical for your business to understand how a customer got to the point of collection activity before implementation.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Nerd Wallet
MARCH 7, 2022
Traditionally, the spring months herald the beginning of homebuying season. But major shifts in the housing market disrupted seasonal patterns in 2020 and 2021, and the changes may be long-lasting. Here’s what’s different, as well as approaches that buyers and sellers can take in what’s become a year-round homebuying season. Why spring was historically the.
Consumer Finance
MARCH 30, 2022
The Consumer Financial Protection Bureau (CFPB) today sanctioned Edfinancial Services, a student-loan servicer, for making deceptive statements to student loan borrowers and misrepresenting their forgiveness and repayment options to them.
Public Citizen
MARCH 7, 2022
by Paul Alan Levy. This is a sad tale of hypocrisy on the part of a group whose litigation over the past eighty-five years has set many of our most important First Amendment precedents. But over the past four to five years, the Watch Tower Bible and Tract Society, popularly known as the Jehovah’s Witnesses, has been abusing judicial process to suppress commentary, mostly criticism, by obtaining subpoenas under the Digital Millennium Copyright Act to out its critics by invoking claims of question
Account Recovery
MARCH 31, 2022
The Court of Appeals for the Ninth Circuit has upheld the dismissal of a Fair Debt Collection Practices Act case in which a defendant was accused of violating the statute by garnishing the plaintiff’s wages to enforce a nonfinal judgment, ruling that alleging a violation of Washington’s state garnishment law is not a de facto … The post Appeals Court Upholds Dismissal of FDCPA Suit Over Garnishment appeared first on AccountsRecovery.net.
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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.
American Profit Recovery
MARCH 4, 2022
Did you ever wonder why your customers are not paying you on time? It’s one of the more frustrating aspects of running any size business. Customers contact your business, you provide the service that you promised and then in some cases, you’re left to chase that customer for the money they owe you. And because you have other customers to serve, and a whole host of other obligations to run your business adequately, you and your staff now must expend time and other resources to get tha
Enterprise Recovery
MARCH 4, 2022
Unfortunately, many of us learn from hard lessons about money in adulthood. When you run a business, there are more hard lessons to learn, often at a high cost to your success. Certain expectations can actually be harmful to your business's cash flow. Take a look at these assumptions to see if you need to re-examine your thoughts around money and your business.
Nerd Wallet
MARCH 16, 2022
What the Federal Reserve did and why The Federal Reserve raised a bedrock interest rate on Wednesday. As a result, mortgage interest rates probably will go up, and rates on home equity lines of credit certainly will. The Fed raised its target for the federal funds rate by 0.25%, or one-quarter of a percentage point. Holden Lewis writes for NerdWallet.
Consumer Finance
MARCH 21, 2022
Today, the Consumer Financial Protection Bureau (CFPB) issued policy guidance regarding potentially illegal practices related to consumer reviews. The CFPB seeks to ensure that customers can write reviews, particularly ones posted online, about financial products and services that accurately reflect their opinions and experiences.
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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.
Sawin & Shea
MARCH 2, 2022
Shortly after you file for Chapter 7 or Chapter 13 bankruptcy, you will receive a notice for your section 341 meeting of creditors. It’s an essential part of the bankruptcy process that usually takes place at the Federal courthouse, but currently is done over the phone or via a Zoom chat due to the pandemic. You might feel a bit intimidated thinking about your required appearance at the hearing, no matter how it takes place.
Account Recovery
MARCH 28, 2022
A District Court judge in New York has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case in which a collection letter included multiple addresses for the defendant, allegedly confusing the plaintiff to the point where he felt his only option was to hand the letter over to his … The post Judge Grants MSJ in FDCPA Case Over Multiple Addresses on Payment Coupon appeared first on AccountsRecovery.net.
American Profit Recovery
MARCH 1, 2022
By Brian: It’s a satisfying feeling knowing that we can continue to help support small businesses and help consumers throughout the year regardless of what is happening across the country. It’s what we have always done since opening our doors. We have assisted consumers during events throughout the years such as recession and natural disasters that had a negative effect on the economy as well as during economic booms that had a positive effect, pulling together to help those in need.
Enterprise Recovery
MARCH 21, 2022
Getting frustrated or writing off client invoices isn't going to get them paid. An unresolved problem remains unresolved unless you do something about it. When a client agrees to pay for goods or services that your business is offering, it is well within your rights to request that they pay you. If you're unsure what to say, use this sample template to remind clients to pay your business.
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?
Nerd Wallet
MARCH 31, 2022
Cryptocurrencies are not traded on Wall Street in the same way stocks are. Still, several publicly traded companies are deeply tied to the world of cryptocurrency or other digital assets. Cryptocurrency stocks are shares in those companies — typically businesses that operate crypto exchanges, invest in cryptocurrencies themselves or create computer equipment used to mine.
Consumer Finance
MARCH 29, 2022
The Consumer Financial Protection Bureau (CFPB) issued a report today showing that credit card issuers charged $12 billion in late fees in 2020. Late fee penalties are charged in addition to interest when a cardholder does not make the minimum payment by the due date.
Sawin & Shea
MARCH 23, 2022
Though bankruptcy is often one of the best ways to get out of debt, it can damage your credit score after filing. However, despite what many believe, this is not a permanent situation, and you can regain good standing with your credit. There are tricks to know though when trying to improve your credit score. There is life after bankruptcy, and you can open new lines of credit and take out loans again after you get back on your feet.
Account Recovery
MARCH 30, 2022
During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers. This is merely meant … The post 24 Companies Seeking Collection Talent appeared first on AccountsRecovery.net.
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.
American Profit Recovery
MARCH 4, 2022
National Consumer Protection Week in 2022 is March 6-12 and is meant to educate everyone about how to improve finances, avoid scams and fraud as well as educate consumers about their rights. This is a program established by the Federal Trade Commission and one that we fully embrace. Everyone here at American Profit Recovery understands that as a collection agency we need to be as transparent as possible.
Troutman Sanders
MARCH 22, 2022
On March 18, the three nationwide consumer reporting agencies — Equifax, Experian, and TransUnion (NCRAs) — announced plans to change how medical debt will be reported on credit reports. The joint measures will result in the removal of nearly 70% of medical collection debt records from credit reports. The announcement included the following three major changes, with implementation starting on July 1: Any paid medical collection debt will no longer appear on a consumer’s credit report; The NCRAs
Nerd Wallet
MARCH 1, 2022
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. The Federal Deposit Insurance Corp. insures up to $250,000 per depositor, per institution and per ownership category at member.
Consumer Finance
MARCH 15, 2022
Today the Consumer Financial Protection Bureau (CFPB) announced changes to its supervisory operations to better protect families and communities from illegal discrimination, including in situations where fair lending laws may not apply.
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.
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