November, 2019

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Amendments To The Federal Rules Of Bankruptcy Procedure Take Effect December 1, 2019

In the Red

Each year amendments are made to the rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. The rule amendments are ultimately adopted by the U.S. Supreme Court and technically subject to Congressional disapproval.

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Passion for Sports Underpins Successful Accounting Firm

Debtor Daddy

Sports Accounting Australia (SAA) is all about sports. They’ve been assisting national and state sporting bodies across Australia with their finance and business planning for over a decade. Already a huge proponent of Xero and other cloud-based accounting solutions, being a paperless firm has allowed SAA to leverage their employees to a level that allows them to support their clients’ goals effectively and efficiently.

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How To Hire the Right Person

C2C

It’s tempting to hire quickly to fill a position, especially if you’re feeling desperate. But the end result of a bad hire can be significant and costly. The hiring decision should not be based solely on presentation. To hire well, Read More » The post How To Hire the Right Person appeared first on C2C Resources Commercial Debt Collection Agency.

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Why Credit Card APR’s Are Rising, Despite Fed’s Third Rate Cut of 2019

Debt

Typically, a decrease in the federal funds rate means your credit card APR should fall as well, but that’s not what is happening lately in the U.S. economy. Banks have backed themselves into a corner with an influx of cash-back and travel rewards credit cards, dishing out perks they can’t afford. Now, consumers are paying […]. The post Why Credit Card APR’s Are Rising, Despite Fed’s Third Rate Cut of 2019 appeared first on Debt.org.

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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.

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Katabat Speeds Digital Debt Collections with Powerful EasyCollect Mobile Payment Portal

Katabat

WILMINGTON, Del., Nov. 12, 2019 — Katabat, a leading global supplier of debt management software solutions, has launched Easy Collect, a powerful, yet easy to deploy, mobile payment portal for lenders and debt collection agencies. Easy Collect is the industry’s simplest, fastest digital payments solution, allowing lenders and agencies to reach borrowers via integrated email and SMS messaging and creating a hassle-free payment experience that helps increase collections. “Our clients w

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Fraud: What Is the Contingent Reimbursement Model?

Fico Collections

The Contingent Reimbursement Model (CRM) is a UK payments industry initiative designed to reimburse victims of authorised push payment fraud (APP fraud). Over the past decade, there has been an ever increasing stream of APP fraud where social engineering techniques are used to trick people or representatives of businesses to send money from their bank accounts to a fraudster.

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What is a Receivables Specialist?

Debtor Daddy

At Debtor Daddy we don’t just believe in the power of technology, we also believe in the power of the human touch. ? ? Alongside our smart software, our experienced Receivables Specialists, based in New Zealand, work as your virtual employees. ? They become part of your extended accounts receivable team which you can easily scale up or down each month according to your business and cash flow needs.?

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Are debt collector companies all the same?

Taurus Collect

As we approach Christmas and New Year 2020, more and more business owners will be searching for debt collector companies. More often in a bid to collect as many payments as possible, particularly before the *long Winter break. *believe me for some businesses the Winter break is a long time! So its important that you keep on top of your cashflow around this time, but its also equally important to know which debt collector companies you can trust.

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Auditing Third Party Collection Agencies

Optio Solutions

Auditing third party collection agencies is standard procedure among corporate clients in today’s business world. The reason for conducting audits is simple. Clients want to confirm that agencies are protecting their interest with compliant practices and efficient collection efforts that result in a favorable return on investment, brand protection, and customer retention.

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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.

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Brad Burton to open CSA People Development Conference

CSA

As part of National Apprenticeship Week 2020, the CSA will be hosting its first Learning and Development Conference on 4 February 2020. Tickets cost ?50 per person and bookings are now open. Keynote speaker - Brad Burton. As well as fronting the CSA's #heretohelp campaign , Brad is an English entrepreneur and motivational speaker who founded the international business networking group 4Networking.

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NY Appellate Court Holds Default Letter Stating Lender “Will Proceed to Automatically Accelerate” Did Not Accelerate the Debt and Thus Did Not Trigger the Statute of Limitations

Consumer Finance Watch

Diana M. Eng and Alina Levi. In U.S. Bank N.A. v. Gordon , 176 A.D.3d 1006 (2d Dept. 2019), the New York Appellate Division, Second Department, held that a notice of default stating that if the loan was not made current, the lender “will automatically accelerate [the] loan,” was “merely an expression of future intent” and therefore did not accelerate the borrowers’ debt.

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Bankruptcy Options for the Self Employed

Luftman, Heck & Associates.

Facing the prospect of filing bankruptcy can be daunting. At a time when you’re under serious financial stress, you have to figure out if seeking legal protection from your creditors is the right move and what are the long term effects of doing so. Your decision may be further complicated if you are self-employed as an independent contractor or are a sole proprietor of a small business.

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Easy Money: Modernize Your Payment Processing Before Your Competitors Do

NCBA Law Practice Management Blog

If you’re still waiting on cash, checks or money orders, there’s a better way. Consumers want, and you can offer them, electronic payment processing, via credit or debit card. Many law firms avoid this option, because of payment processing fees associated with these systems; but, the fact of the matter is that electronic payment processing tools get you more money, sooner -- and, even assuming the processing fees attached to these accounts, they still cost less than traditional payment methods w

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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.

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House Financial Services Committee Considers Amendments to the FDCPA

Consumer Financial Services Law

On November 14, 2019, the House Committee on Financial Services passed the following bills which would amend the federal Fair Debt Collection Practices Act and tighten consumer protections. The bills will now make their way to full House for further consideration. The Ending Debt Collection Harassment Act of 2019 (H.R. 5021 ) is a response to the proposed Debt Collection Rules and proposes to prohibit a debt collector from contacting a consumer by email or text message without a consumer’s conse

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R.J. Shannon joins Houston Volunteer Lawyers, Equal Access to Justice Society

BN Lawyers

Robert “R.J.” Shannon joined the Equal Access to Justice Society of the Houston Volunteer Lawyers program. Members of the Equal Access to Justice Society commit to minimum pro bono legal services to low income residents of the Houston area and contribute to continuing legal education programs to promote effective pro bono representation by its members.

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Look and Learn

CSA

By Peter Wallwork, CSA CEO. What can the public sector learn from the private sector in terms of best-practice debt collection? The UK government has been building closer working partnerships with the debt collection and debt advice sectors since 2016 when it established a ?Fairness Group? to support a wider mission of reducing debt-related mental health and suicide.

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Effective Methods of Post-Judgment Litigation

Collections Law

At The Law Offices of Alan M. Cohen LLC , we fight to get your business paid on your judgment debt as well as for the services and materials you have provided for which debtors have failed to pay in a timely manner. Using our aggressive and relentless collection tactics, we can use attachments and injunctions to freeze your delinquent debtor’s assets and speed up repayment.

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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?

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Be Prepared: the Motto of a Tax Season Collection Strategy

Optio Solutions

“Be Prepared” has been the motto of the Boy Scouts of America ever since the youth organization was founded in 1910. It should also be the motto of any tax season collection strategy. To a scout, the motto translates to being ready and equipped for any life situation. To a third party collection agency, “be… The post Be Prepared: the Motto of a Tax Season Collection Strategy appeared first on Optio.

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Legal Tech Goes Boom: What Does That Mean for Lawyers?

NCBA Law Practice Management Blog

Most practicing lawyers are immersed in legal technology, without following the news about legal technology. I understand that: I use Microsoft Office everyday; but, I don’t follow the news about Microsoft’s larger machinations. Of course, legal technology is a smaller subset of technology; and, many states have now added Comment 8 to Rule 1.1 of their lawyers’ rules of professional conduct, which suggest s that a lawyer’s general competency is tied to her competency respecting the use of law fi

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Eleventh Circuit Refuses to Impose a ‘Least Sophisticated Consumer’ Standard to Discharge Violations

Consumer Financial Services Law

The Eleventh Circuit recently affirmed a Florida bankruptcy court’s denial of plaintiff’s motion for sanctions. In doing so, the Court rejected the consumer’s attempt to import the FDCPA’s “least sophisticated consumer” standard to its discharge violation analysis. Roth v. Nationstar Mortg., LLC, (In Re Roth) 935 F.3d 1270 (11th Cir. 2019). In Roth , the consumer filed a Chapter 13 and indicated in her petition that she was surrendering certain non-homestead property which was subject to the mor

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Manny Newburger admitted in Massachusetts

BN Lawyers

Manuel “Manny” Newburger has been admitted as an attorney in the Commonwealth of Massachusetts. Mr. Newburger is now admitted to practice in the states of Texas, Colorado and Massachusetts. He was also recently admitted to the United States District Court for the Eastern District of Oklahoma. He has now been admitted to practice in over 20 federal district courts. .

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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.

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Model Numbers

CSA

By Peter Wallwork, CSA CEO. Existing funding models for the Financial Ombudsman are not as flawed as they are painted. The Financial Ombudsman Service (FOS) recently launched a consultation on future funding that pre-supposes the current funding model is flawed and isn?t working. In our opinion, however, the current model - where firms that generate the larger number of complaints account for a commensurately higher proportion of the funding ?

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Straight Talking

CSA

By Peter Wallwork, CSA CEO. The #debtthreat campaign is talking to the wrong audience. Compliance can take a great deal of credit for bringing greater consistency in how a service is delivered, and in protecting consumers with common standards of treatment. Compliance also helps to protect the businesses themselves, assuring them that if they adhere to agreed processes and systems that they will not fall foul of their regulator, or leave themselves open to vexatious complaints.

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CSA Launches New People Development Conference for 2020 National Apprenticeship Week

CSA

The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, is launching a new Learning and Development Conference , hosted on 4 February 2020 in Leeds, which will focus on championing people development. The conference will bring together learning and development managers, HR professionals, industry leaders, and in-house collection teams, as well as current CSA apprentices and their employers.

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R.J. Shannon’s paper on Chapter 22 filings presented at 2019 Westbrook Bankruptcy Conference

BN Lawyers

Robert “R.J.” Shannon’s white paper “Chapter 22 Frequently Asked Questions” was submitted as part of a presentation titled “Recidivist Debtors: Chapter 22s of Oil and Gas Business Debtors. Why is it Happening Now?” at the 38 th Annual Jay L. Westbrook Bankruptcy Conference on November 14, 2019 in Austin, Texas. Mr. Shannon served as materials coordinator for a panel presentation by lawyers and financial advisors.

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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.