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The announcement that FICO will put two new credit scoring models – FICO 10 and FICO 10T – into play this summer is the ultimate good news/bad news situation for consumers. The good news is that if you have a score anywhere above 680 – and continue to make on-time payments and use 30% or […]. The post How the New FICO Credit Scoring System Will Affect You appeared first on Debt.org.
Wilmington, DE — January 23, 2020 — Katabat, a leading global supplier of debt management software solutions, recently hired Guy Abramovitz as chief financial officer. A finance industry veteran, Abramovitz brings over two decades of experience to the Katabat team in both software product and services businesses. “Katabat is in a time of tremendous growth, and Guy’s experience in strategic deal-making and growth capital is a major asset,” said Ray Peloso, CEO, Katabat.
Higher education is a noble pursuit. Unfortunately, in the US, it’s also a pricey one. In fact, The Institute for College Access & Success reported that 65 percent of 2017 grads carry student debt – at an average of $29,200. That’s no small chunk of change, especially for those new to the workforce. It’s no wonder, then, that defaulting on student debt has become rampant.
Unlike the tracers used to track motion in the military, medicine or science, debt collection skip tracing involves searching for consumers or business owners who have gone missing. These individuals may be evasive debtors or those who have inadvertently dropped off the grid for a variety of reasons. The U.S. Postal Service, for example, estimates… The post The Latest in Debt Collection Skip Tracing appeared first on Optio.
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.
If you are involved in an auto accident and you don’t have insurance, your driver’s license can be suspended under Colorado’s Motor Vehicle Financial Responsibility Law. In order to have your license reinstated, you’ll need to obtain insurance and get into a payment plan for the damages caused in the accident. This can be tricky because you might owe a significant amount of money and the payment plan can be expensive.
The CFPB has issued a Statement of Policy which seeks to “convey and foster greater certainty above the meaning of abusiveness” and provide a framework for its exercise of supervisory and enforcement authority as to abusive acts or practices. Under Dodd Frank, the CFPB has supervisory and enforcement authority over abusive acts or practices in connection with consumer financial products or services.
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The CFPB has issued a Statement of Policy which seeks to “convey and foster greater certainty above the meaning of abusiveness” and provide a framework for its exercise of supervisory and enforcement authority as to abusive acts or practices. Under Dodd Frank, the CFPB has supervisory and enforcement authority over abusive acts or practices in connection with consumer financial products or services.
The act of making a phone call isn’t enough to reach someone in 2020 - there needs to be a strong strategy behind it. People have become numb to the influx of spam and telemarketer calls they’ve received in recent years, causing connection rates to plummet. It’s more likely than ever before that the person you’re trying to reach will let your call go to voicemail without a second thought.
Efficient law firms return the most revenue, by a wide margin. Yet, much of what law firms do cuts against efficiency: Attorneys tend to avoid modern technology. Attorney like to do things themselves, and so they avoid effective delegation. Attorneys want manual processes, which they feel they have more control over. Of course, this is not the way to practice at the top of your law license: billing at your highest rates, or acquiring more work that you can bill at your highest rates.
No one likes the idea of having to file bankruptcy. But sometimes debts become insurmountable and creditors relentless. The only viable choice may be to seek bankruptcy protection. Not only can you get a financial fresh start, but there can be a positive effect of bankruptcy on lawsuits, including those filed by your creditors or debt collectors. Depending on your circumstances, bankruptcy can eliminate your debts through liquidation of most Read More.
Having “the right feet on the street” is critical to any venture, but especially when it involves launching a tax season collection strategy. In this case, the feet translate to having a qualified collection agency design and implement a plan for the upcoming tax season. Ideally, agencies will launch a strategy in time for the… The post Tax Season Collection Strategy: The Right Feet on the Street appeared first on Optio.
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.
With a new decade commencing, there is no shortage of retrospectives. I believe 2019 will be remembered as a critical transformational year for the debt collection industry. Long-percolating patterns and pressures firmly coalesced around permanent shifts in digital consumer behavior (hello, TikTok!), late-cycle upticks in consumer credit default (the trough was actually WAY back in 2015), dramatic changes in technology for the industry, and meaningful new regulatory guidance.
Introduction Businesses must first have financing in order to undergo a successful turnaround. The key to planning a successful turnaround is finding the right financing… The post Financing a Corporate Turnaround appeared first on Brown & Joseph, LLC.
Every December, your law firm shuts down, so that you can send out holiday card s. It’s not just about getting the contact l i st together. It’s about selecting the cards. And, getting the message right. And putting them in envelopes. And stamping them. And mailing them. And, the n. Your card gets throw n o n a pile with thousands of others, without even being looked at, before it’s recycled.
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.
Photo by Michael Longmire on Unsplash The CFPB’s 2020 Rulemaking Agenda provides a preview of the Bureau’s intended rulemaking activities for 2020. Here are the highlights of what we can look forward to in 2020: Business Lending Data (Pre-rule Stage): Under Dodd Frank and the Equal Credit Opportunity Act, the CFPB has rulemaking authority to require lenders to collect and submit data concerning credit applications made by women-owned, minority-owned and small businesses.
With debt collections being a continuum of evolution, utility collection professionals need to learn about the latest collection tools and strategies to maximize their collection efforts. The Utilities Credit and Collections Symposium invites utility company vice presidents, directors, managers, supervisors, analysts and other industry professionals to attend their event.
Over 70 million Americans had a collection attempt between 2016 and 2017. As more and more account receivable collections pile up, businesses without the expertise needed to collect could risk losing thousands of dollars to wayward debt. For this reason, working with debt collection services is crucial for ensuring that your delinquent accounts receive the payment they are owed.
If you work in the credit or debt collection industry, you won’t want to miss these events and networking opportunities in 2020. RMAI Annual Conference… The post Credit & Collection Events to Attend in 2020 appeared first on Brown & Joseph, LLC.
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!
Going out of business is a tough process regardless of the reasons. Whether a small business closes because of changes in the market or a massive corporation shuts down due to advances in technology, many businesses still have some outstanding debt or tax obligations when they cease operations. Dissolving a company with debt is a tricky situation — even though the business isn’t planning to generate revenue, there is still work for management to complete and obligations that need to be met.
Believe it or not, the most important part of law firm branding is something that law firms often ignore, or throw away. A business logo offers its owner a distinctive mark, a visual interpretation of the business’ purpose and meaning, that resonates with consumers. Think of Coca-Colo or Ford or Apple or Target, and you immediately think of distinctive logos.
The Third Circuit has recently held in In re Denby-Peterson , 941 F.3d 115 (3rd Cir. 2019) that creditors who refuse to relinquish an item that was seized pre-petition are not subject to sanctions because their refusal does not violate 11 U.S.C. § 362’s automatic stay. The case further deepens a circuit split on the issue. The Facts As the Third Circuit explained, “the center of this bankruptcy appeal is “‘America’s first sports car’: The Chevrolet Corvette.
January 23, 2020 (Sacramento, CA) – Katabat, a leading cloud-based debt-collection software provider, will serve as a Gold Sponsor of this year’s RMAI Annual Conference. The conference, occurring February 3–6, 2020, brings together key participants in the receivables management industry, including debt buying companies, collection agencies, collection law firms, brokers, originating creditors, and affiliates.
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 final list of speakers and presentations for the Credit Services Association?s inaugural People Development Conference next month have been confirmed, with an emphasis not just on training, developing and upskilling staff, but also driving cultural change within businesses to support a more productive, compliant, and contented working environment.
Introduction As we look at the New Year, it’s important that we not only focus on those positive things we’re going to do with this… The post Collection Policy Resolutions in the New Year appeared first on Brown & Joseph, LLC.
It’s not uncommon for the general population to view debt as an unfavorable financial instrument, but entrepreneurs and finance directors know the value of leveraging capital. In fact, smart business owners know how to use debt as an actual tool to grow their business. Debt can be a critical device for businesses that know how to calculate the costs and benefits accurately.
We provide free pre legal debt collection services in the Netherlands. We also provide legal debt collection services in the Netherlands bases of a pre estimated flat (hourly) rate and discount on inhouse-attorney costs. The post Debtorion appeared first on Recoverity.
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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