August, 2020

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CFPB Denies Petition From Credit Repair Org. to Set Aside CID

Account Recovery

The Director of the Consumer Financial Protection Bureau has denied a petition from a credit repair organization to set aside a civil investigative demand it received from the Bureau, disagreeing with the premise that the CFPB’s request is unlawful because it could not bring an enforcement action against the company. A copy of the denial, … The post CFPB Denies Petition From Credit Repair Org. to Set Aside CID appeared first on AccountsRecovery.net.

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How to Onboard Clients for a Successful Business Relationship

Enterprise Recovery

Once your sales team has built enough trust to land a new client, the onboarding process will lay the groundwork for the ongoing client relationship. This is the time that the client is open to you and, at the same time, cautious of your next steps. It's important that you hit the ground running (or even before signing the agreement!) so the client feels an immediate sense of relief.

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Much more than a collector

American Profit Recovery

By Angela: As I sit back and reflect on the last few months and the changes that have taken place both within the office and personally, I can’t help but think WOW. EVERYONE, is going through it! The good news is that American Profit Recovery is here! This may sound corny but, the reality is just that. Sometimes I feel like I’m much more than a collector, I like to think I wear multiple hats.

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What Is ESG Investing and How Does It Compare?

Nerd Wallet

You’ve likely heard of “voting with your dollars,” or using your money to make purchases at businesses you believe in. But choosing your local bookstore over Amazon isn’t the only way you can make an impact. There are strategies, such as ESG investing, to put your investment dollars to work in a similar way. What. Alana Benson is a writer at NerdWallet.

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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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When Is the Right Time to Be Thinking About Bankruptcy?

Sawin & Shea

Sometimes the best offense is a good defense, even when it comes to finances. If you have been hit hard by the economic upheaval of the coronavirus, filing for bankruptcy may be your best option. At a time when thousands are already struggling with historic stressors due to the uncertainty caused by the pandemic, it may be that bankruptcy could relieve the pressures you find yourself facing.

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FTC Files Suits Against Alleged Collection Scammers

Account Recovery

A District Court judge in South Carolina has lifted the seal on two complaints filed by the Federal Trade Commission against debt collection operations that are accused of violating the Fair Debt Collection Practices Act by allegedly convincing unsuspecting individuals that lawsuits have been, or will soon be, filed against them if they do not … The post FTC Files Suits Against Alleged Collection Scammers appeared first on AccountsRecovery.net.

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How Much Money Do You Need to Buy a House?

Credit Corp

According to the U.S. Census Bureau, the median sales price of new homes in May 2020 was around $317,000. Even if you’re purchasing a home that falls well below that average, chances are it’s one of the most expensive things you’ll ever buy. With such a big expense, you might be wondering—how much do you need to save for a house? The good news?

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Lunch by Zoom

American Profit Recovery

By Courtney: Working from home has been a huge adjustment, not only for the entire company but especially the customer service department. Back when we were in the office we were known as “the favorite row”. When you walked down the customer service isle you could feel the great energy, always joking around & laughing. Since this transition we have had to find new ways to keep that relationship & Zoom has been a huge tool.

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Federal Loans Are Paused Until 2021 — Should You Pay Anyway?

Nerd Wallet

Payments are currently suspended, without interest, for federal student loan borrowers until Dec. 31. Originally, a six-month suspension was announced in mid-March as part of a measure included in the coronavirus relief package. It was extended until the end of the year by an executive order. This policy applies only to federal loans, not to. Anna Helhoski is a writer at NerdWallet.

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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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13 Interesting Insurance Facts

Brown and Joseph

Not all insurance policies are boring! Since the insurance industry can be a little dry, here are 13 interesting insurance facts you probably didn’t know.… The post 13 Interesting Insurance Facts appeared first on Brown & Joseph, LLC.

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Will There Still Be a Second Stimulus Check?

Debt

If you are one of the millions who anticipated a second stimulus check from the federal government – and penciled $1,200 into the income side of your budget – you better hope that pencil has an eraser. The second stimulus check may never happen. And if it does, the earliest you’ll see it is sometime […]. The post Will There Still Be a Second Stimulus Check?

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Compliance Digest – August 31

Account Recovery

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.

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How Often Can You Check Your Credit Score, and How Do You Get It?

Credit Corp

Are you trying to keep a closer eye on your finances? Or maybe you want to get an auto loan, but you want to make sure your score is in good shape? Either way, you might be wondering if you’re checking your credit score too much. Honestly, there really isn’t a limit to how often you can check your credit score. But, before you blaze ahead and check your credit score, there are a few things you need to know.

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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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Getting your business paid during COVID-19

American Profit Recovery

We’re not fond of overused terms here but one we do feel is relevant during the year 2020, is that “now, more than ever,” it is mission critical to be getting paid for the work your business does and the services you provide. Regardless of the size of your organization, cash flow is something that has probably taken a hard hit during the COVID-19 pandemic and the economic fallout that came with it.

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College Going Online? Student Loans Still Cover Living Costs

Nerd Wallet

Attending college from a laptop in your childhood bedroom might not be the experience you had in mind. But just because you’re not living in a dorm this fall doesn’t mean that expenses disappear. Your cost of attendance might have changed if you’re learning remotely due to COVID-19, but colleges will factor at-home or off-campus. Anna Helhoski is a writer at NerdWallet.

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The Sixth Circuit Adopts Expansive Interpretation of ATDS

TCPA

In Allan v. Pennsylvania Higher Education Assistance Agency, the Sixth Circuit weighed in on the definition of an ATDS, joining the Second and Ninth Circuits in reading it expansively.

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Application of the Business Judgment Rule to Community Association Board of Directors

Jimerson Firm

The board of directors of community associations are responsible for making important decisions affecting the community and its members. As a result, disputes sometimes arise between the association and its members. In the event the dispute evolves into a lawsuit, the business judgment rule will protect directors from personal liability so long as they did not breach their fiduciary duty.

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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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Garnishment Protection Bill Advances in Va. Legislature

Account Recovery

Even as many states are moving to ease collection restrictions that were put into place at the start of the coronavirus pandemic, the Virginia legislature is moving forward with a bill that would protect the economic stimulus payments received by individuals from being garnished by debt collectors. A number of states — including California, Vermont, … The post Garnishment Protection Bill Advances in Va.

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4 Credit Cards with No Spending Limit

Credit Corp

Life can be unpredictable, and you never know exactly what you may need to spend money on tomorrow. In these situations, you may suddenly need more spending power on your credit cards than you previously anticipated. Fortunately, there are credit and charge cards that allow you to make the charges you need. If your credit score is good enough, you might be able to score an “unlimited credit card”—one without a preset spending limit.

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Business Debt, Now What?

The Kaplan Group

Business debt is the hot trend no one wants to be a part of. Thanks to the global pandemic and resulting economic crisis, many businesses are having problems paying their bills. It would be great if you could take out some sort of insurance policy to help you pay bills in times of crisis. Unfortunately that doesn’t exist. So, if you find yourself in debt, what can you do?

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Retirement Investments: A Beginner’s Guide

Nerd Wallet

Advancements in medicine and technology are helping us live longer than ever before. But the prospect of living in retirement for up to 40 years — often the same time frame an individual spends working — makes saving and planning all the more important. Yet saving is only one piece of the retirement puzzle. Choosing. Tiffany Lam-Balfour is a writer at NerdWallet.

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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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Why Your “Calling Identity” Matters

Arbeit Software

Identifying yourself as a trusted, legal caller is the first line of defense in mitigating improper call blocking and labeling events.

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$300 Federal Unemployment Benefits

Debt

When Congress left Washington in early August, they had yet to agree on the specifics of a second stimulus package. They reconvene Sept. 8, and if a deal is reached in the first days or week after returning, you could receive a second stimulus check by early October. That’s if the new coronavirus relief bill […]. The post $300 Federal Unemployment Benefits appeared first on Debt.org.

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Judge Sides With CFPB in CID Case Against Collection Law Firm

Account Recovery

A District Court judge in New York has sided with the Consumer Financial Protection Bureau and agreed to enforce a Civil Investigative Demand that was sent to a collection law firm, a decision that the law firm’s lawyer has said will be appealed. The CFPB’s case against the Law Office of Crystal Moroney began more … The post Judge Sides With CFPB in CID Case Against Collection Law Firm appeared first on AccountsRecovery.net.

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What Is the FICO Resilience Index?

Credit Corp

By the end of May 2020, more than 40 million people had filed unemployment claims due to COVID-19 and the resulting economic shutdowns. Governments, charities, and even creditors scrambled to put programs in place to support people during this time while also mitigating future economic fallout. And this isn’t the first time creditors have found themselves working to support borrowers while worrying about their own bottom lines.

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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.