Account Recovery

AUGUST 30, 2021

JUDGE DENIES MOTION TO COMPEL ARBITRATION OVER HOW ‘RECEIVABLE’ AND ‘ACCOUNT’ ARE DEFINED Synonyms and semantics can be deadly when in the hands of a federal judge. A defendant is learning that lesson the hard way after a District Court judge in New Jersey denied a defendant’s motion to compel arbitration in a Fair Debt … The post Daily Digest – August 30.

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American Profit Recovery

AUGUST 11, 2021

Since the founding of American Profit Recovery and the day we opened our doors, we have always wanted to do what was right. That includes how we can work in the best interest of the clients that hire us, the consumers that are struggling with their finances, and the overall health and effectiveness of the collection industry. We have always wanted to do our part.

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Enterprise Recovery

AUGUST 6, 2021

While this question will put off sales reps, collections teams may be cheering in their seats. If a sales representative works hard to land the ideal client but the invoice goes unpaid beyond the due date, who should be responsible for connecting with that client? Is a sale really complete if the invoice isn't paid? Do you have a solid process for who follows up and when it becomes necessary for your organization to move the account to collections?

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Collections 246

Nerd Wallet

AUGUST 23, 2021

This article provides information for educational purposes. NerdWallet does not offer advisory or brokerage services, nor does it recommend specific investments, including stocks, securities or cryptocurrencies. The idea of anything creeping in unnoticed is enough to unnerve the bravest among us. In the world of personal finance, it’s the subtle, sneaking changes in spending habits that.

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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.

Burr Forman

AUGUST 16, 2021

JACKSONVILLE, FLA. – AUGUST 16, 2021 – Burr & Forman LLP announces the addition of Jason R. Gabriel as a partner in the firm’s Jacksonville office. Gabriel joins the firm’s land use and real estate practice group after 11 years at the City of Jacksonville, serving as General Counsel to the entire consolidated City government for the past 7 years.

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Account Recovery

AUGUST 31, 2021

Debt collectors are conduits — vessels trying to help original creditors recover unpaid debts. Oftentimes, the creditors will make requests or want certain offers included in letters sent to individuals. What happens when a creditor wants to make an offer as a means of trying to get an individual to repay a debt? … A … The post Judge Grants MTD Over Offer of More Credit in Collection Letter appeared first on AccountsRecovery.net.

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American Profit Recovery

AUGUST 6, 2021

By Angela: As I sit writing this blog, I am finding it hard to believe six years have passed since coming to American Profit Recovery. I still remember getting the call to come in for an interview and didn’t completely know what to expect or how I would be treated. Everyone associates “collection specialists, or debt collectors” as bad, mean people blowing up your phone.

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Enterprise Recovery

AUGUST 13, 2021

While it's true that no one could have predicted the pandemic, entrepreneurs started 4 million new businesses in 2020. E-commerce and other online services saw a boom as brick-and-mortar businesses shut down. Then, just as it seems like the world would reopen, the Delta variant has business owners trying to decide what to do next. If you're wondering how to grow your business during this pandemic, keep going with these tips.

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Nerd Wallet

AUGUST 2, 2021

If you’re the parent of a young adult, you may be asked to co-sign for a car loan or an apartment lease. Before you agree, know what’s at stake — you could be putting your own financial security at risk. What co-signing really means When you co-sign, you become fully responsible for someone else’s debt. Bev O'Shea writes for NerdWallet. Email: boshea@nerdwallet.com.

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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.

Collections

Credit Corp

AUGUST 23, 2021

It’s a common scenario: You apply for a personal loan or credit card and get denied. The reason seems shrouded in mystery, and you receive a letter with language such as “lack of recent installment loan information” or “proportion of balances to credit limits.” Find out what these reason codes actually mean and what to do about them below. 8 Common Reasons You Were Denied Credit.

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Consumer Finance

AUGUST 16, 2021

The Consumer Financial Protection Bureau (CFPB) yesterday filed a proposed settlement to resolve a lawsuit against a debt collection enterprise and its owner. The CFPB alleges that Fair Collections & Outsourcing (FCO) violated federal law by failing to establish or implement reasonable written policies and procedures regarding the accuracy and integrity of the information it furnished to credit reporting agencies and failed to conduct reasonable investigations of indirect consumer disputes,

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Account Recovery

AUGUST 27, 2021

A quartet of individuals have been charged with conspiracy to commit wire fraud and conspiracy to commit bank fraud in a $150 million payment processing scheme that included facilitating transactions for debt collectors, and one of the individuals remains at large, according to an indictment that was unsealed yesterday in Massachusetts federal court.

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American Profit Recovery

AUGUST 25, 2021

There are so many aspects to running and managing a business that you can truly enjoy. Maybe you love interacting with customers, problem solving, or working the back end, creating new products and services. You and your team should enjoy coming to work and doing what people pay you for. But there are going to be times when customers do not pay you as we are sure you have figured out by now.

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Collection Agencies Collections Agency Collections 246

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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.

Collections

Enterprise Recovery

AUGUST 20, 2021

The last thing a business owner wants to think about is why their clients or customers aren't paying. It should be a straightforward process - you do the work or supply the goods and they pay their bills. With a little examination of your payment process, you might be able to determine the problem with those slow or late payments. If B2B payments are too hard to collect, ask yourself these questions.

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Collections 245

Nerd Wallet

AUGUST 4, 2021

As travel returns, you might start feeling some airfare sticker shock. It’s not necessarily because more people are vacationing again, though they certainly are. It’s more likely because fewer people are doing trips for business. And when business travelers don’t travel, leisure travel can get more expensive. It may seem counterintuitive, but these premium-paying travelers.

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UK debt collections

AUGUST 17, 2021

Forecasts predicting an impending “tsunami” of corporate insolvencies are alarmist, though the need for ongoing alertness remains, according to UK insolvency specialists. Government support measures have allowed insolvency levels to remain stable amid the pandemic, but recent data shows significant surges as crisis-era support is withdrawn. According to statistics released by the Insolvency Service , June 2021 saw a 63 percent year-on-year increase, and Q1 FY21 saw a 31 percent uptick on the

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Consumer Finance

AUGUST 18, 2021

A new Home Mortgage Disclosure Act (HMDA) data report on residential mortgage lending trends released today by the Consumer Financial Protection Bureau finds that the total number of closed-end originations as well as applications increased substantially between 2019 and 2020.

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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?

Financial services

Account Recovery

AUGUST 27, 2021

A District Court judge in New Jersey has granted a defendant’s motion to dismiss on all counts but one in a class-action Fair Debt Collection Practices Act case, ruling that the allegations that the amount of a debt was mis-stated in a letter can not be ruled on at this stage in the process. A … The post Judge Grants MTD on All Claims But One in FDCPA Class Suit appeared first on AccountsRecovery.net.

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Debt RR

AUGUST 27, 2021

When you’re attempting to collect a debt from a commercial customer, you know that every second counts. After all, the older the debt is, the harder it becomes to collect. When the traditional letters, phone calls, and negotiations fall short, it may be time to consider filing a debt collection lawsuit against your customer. Filing a claim for unpaid debt in civil court can be a complex, time-consuming process.

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Jimerson Firm

AUGUST 26, 2021

Commercial landlords may encounter tenants who refuse to pay rent, refuse to vacate the premises after the lease term has ended or fail to cure a material breach of the lease agreement. In these situations, the landlord may decide to commence eviction proceedings by filing an action for eviction and for damages. Commercial eviction actions are also commonly referred to as summary removal actions.

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Nerd Wallet

AUGUST 11, 2021

Robin DeGracia’s kids have been traveling since they were in diapers. No, really. Her son was just 3 months old when she took him on his first flight. She remembers because he was in a baby carrier and she spent a lot of time on the flight walking with him up and down the airplane. Meghan Coyle writes for NerdWallet. Email: mcoyle@nerdwallet.com. Twitter: @inkwaves.

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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.

UK debt collections

AUGUST 3, 2021

Latest quarterly figures from the Insolvency Service have indicated that business insolvency numbers across England & Wales were 31% higher than in Q1 2021 and 4% higher than in Q2 2020. There were 3,116 seasonally adjusted corporate insolvencies in Q2 2021, an increase of 31.4% compared to Q1 2021’s figures of 2,371 and a rise of 4% compared to Q2 2021 (2,997).

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Credit Corp

AUGUST 24, 2021

Debt can get complicated, especially if you have a lot of it. Credit counselors are trained professionals who help individuals and families work to get a handle on their debt so they can lay a stronger financial foundation for the future. How does credit counseling work? Find out more below so you can make a decision about whether this is a tool you want to use.

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Account Recovery

AUGUST 27, 2021

JUDGE GRANTS MTD ON ALL COUNTS BUT ONE IN FDCPA CLASS ACTION A District Court judge in New Jersey has granted a defendant’s motion to dismiss on all counts but one in a class-action Fair Debt Collection Practices Act case, ruling that the allegations that the amount of a debt was mis-stated in a letter … The post Daily Digest – August 27.

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Fico Collections

AUGUST 23, 2021

Based on the 2020 US Census , the US credit-eligible population (those over 18 years of age) is 258 million people. But how many of those consumers can obtain a FICO® Score? . Calculations by FICO data scientists indicate that more than 232 million US consumers can be scored by the FICO® Score suite. That is 90% of the credit-eligible US population.

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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.

Banks