True Accord

JANUARY 19, 2021

The following is an excerpt from our recent ebook, Ten Critical Questions: The Buyer’s Guide to Digital Debt Collection Solutions. To download the full ebook, click here. Consumer behavior and expectations have undergone significant changes over the past few years – trends that COVID has only accelerated. For lending organizations, the end result of these changes is that digital collections have shifted from a “nice to have” into a must-have.

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Collection Agent Collections 80

Collect More

JANUARY 20, 2021

Nope, you aren’t imagining things- it really is that hard getting paid at the moment! The old January hangover- happens every time. This January however seems to be worse than normal so if you are chasing outstanding invoices from last year, just know that you most certainly are not alone. So now that we have identified the problem, how do we fix it?

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Debtor 100

Direct Recovery

JANUARY 17, 2021

There is no shortage of ways in which the COVID-19 pandemic has changed the way business is done around the world in 2020, and that is definitely true for anyone operating in the collections industry. Like most businesses around the globe, collections agents have had to change the way they go about their jobs, and the ones that have adapted best to this new normal are going to be the same ones that come out the other side of the pandemic on solid footing.

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Account Recovery

JANUARY 22, 2021

EDITOR’S NOTE: The following article was originally published by Jamie Welsh at Harvest Strategy Group and is re-published here with the company’s permission. When the pandemic hit, we as an industry first looked inward ensuring the safety of our staff and their families and then towards making sure that they could securely and effectively operate … The post Guest Post: Pandemic Heightens Importance of Vendor Oversight appeared first on AccountsRecovery.net.

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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.

Enterprise Recovery

JANUARY 22, 2021

If you're in sales, and we all are, you've heard the expression that it's cheaper to retain a customer than to get a new one. Sales and marketing is expensive and retention is easier because the relationship has already been established. Instead of losing customers, especially SaaS customers that have been working with you for months or years, let's try to understand why they're leaving.

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Nexa Collect

JANUARY 16, 2021

Staying in business can be as simple as pulling out the steamy croissants from the oven right when the timer rings just before your bakery opens or as complicated as the daily coordination of a supply chain that involves numerous moving pieces and partners. We have mentioned the challenges faced by accounts receivable before, but one item stands out as a recurring and headache-causing problem: predictability of timely receipts.

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Account Recovery

JANUARY 22, 2021

The Seventh Circuit Court of Appeals continued its assault on standing in Fair Debt Collection Practices Act cases yesterday, affirming a District Court ruling that a plaintiff lacked standing to sue a debt collector because she did not try to show an intent to dispute a debt while suing because she was confused about how … The post Seventh Circuit Issues Another Ruling on Standing, Affirming Lower Court Dismissal appeared first on AccountsRecovery.net.

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Nerd Wallet

JANUARY 21, 2021

At tax time, it’s often hard to predict how much you’ll owe or receive in a tax refund without actually doing your taxes. But there are some telltale red flags that can mean an unwelcome tax surprise is headed your way, tax pros say. Here’s how to spot the signs — and how to keep. Tina Orem writes for NerdWallet. Email: torem@nerdwallet.com. The article 4 Signs You’re About to Get a Tax Surprise originally appeared on NerdWallet.

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American Profit Recovery

JANUARY 18, 2021

Cash flow is the backbone of any business, including yours. It does not matter the size or nature of your organization. Without healthy cash flow, your business will suffer in many ways. Staying on top of this and ensuring your business is always working in positive cash flow should be one of your top concerns if you are running any size business. As a collection agency working with large businesses and small organizations, we tend to be on the front lines of helping these companies improve cash

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Credit Corp

JANUARY 21, 2021

It happens. A collections notice shows up, a debt collector starts calling or you find a negative report on your credit history, but you know you paid the account in question. Can you sue a company for sending you to collections for money you didn’t owe? Find out more about what the law says about your rights when it comes to protecting your credit history.

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Collections Fair Debt Collection Creditors Law Firms 116

Account Recovery

JANUARY 21, 2021

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 Robert Salmon of

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Accounts Receivables Management 246

Nerd Wallet

JANUARY 21, 2021

Budgeting is a pain. But what’s more painful is a bill you can’t easily pay, debt that costs a fortune or not having enough money to retire. Fortunately, you can have a useful, working budget without watching every penny. Automation, technology and a few simple guidelines can keep you on track. The following approach works. Liz Weston writes for NerdWallet.

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Jimerson Firm

JANUARY 22, 2021

This series has provided a high-level overview of various options and considerations available to lenders during the current uncertainty surrounding lending in the hospitality industry. It is without question that lending institutions will see significant changes as a result of COVID-19 and with the incoming presidential administration. The first-half of this series evaluated considerations for lenders faced with borrowers who were unable to meet their mortgage and loan obligations.

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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.

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Credit Corp

JANUARY 19, 2021

As of November 2020, the IRS had received more than 168 million tax returns for the 2019 tax year. More than 72 million—roughly 42%—were self-prepared tax returns. Discover how to do taxes yourself in the guide below so you can decide if self-preparation is the way to go for you. 10 Steps for Doing Taxes Yourself. 1. Understand the Filing Deadlines 2.

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Government 106

Account Recovery

JANUARY 20, 2021

The California Department of Financial Protection and Innovation (DFPI) came out swinging yesterday with its first major action, issuing subpoenas to a dozen companies in the accounts receivable management industry, investigating consumer complaints about alleged unlawful, unfair, deceptive, or abusive collection practices. The companies that were issued subpoenas are: Portfolio Recovery Associates, Encore Capital Group, … The post New California Regulator Launches Investigation Into Colle

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Nerd Wallet

JANUARY 21, 2021

It’s hard to afford a house if you’re a first-time buyer. The Biden administration has a plan for that: giving first-timers up to $15,000 to apply toward a down payment. Frustrated would-be homeowners might favor that proposed solution. But it almost surely would drive house prices even higher. The proposed First Down Payment Tax Credit. Holden Lewis writes for NerdWallet.

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Burr Forman

JANUARY 19, 2021

As of January 19, 2021, two vaccines have been authorized for emergency use by the FDA, with two additional vaccines nearing the end of clinical trials. With vaccines now available, employers are questioning whether they can require employees to be vaccinated and what legal considerations may exist. Can we require our employees to be vaccinated? Yes, with some caveats.

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Government 98

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

Credit Corp

JANUARY 18, 2021

It’s safe to say 2020 was a pretty hard year for everyone financially. Even if your wallet hasn’t taken a hit in the last few months it’s likely either your employer or someone in your family has found themselves stretched financially by the effects of COVID. No point dwelling on the past, though. We may not be able to go back in time and stop COVID happening and ruining our 2020, but we can ensure we’re at least in a better position financially in 2021, avoiding bad credit scores and getting ou

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Account Recovery

JANUARY 20, 2021

A new president will take office today, and whether you are happy or sad about that, it likely will mean changes are coming for the accounts receivable management industry. To paint a picture of what changes might be on the horizon, AccountsRecovery.net reached out to a number of industry veterans and asked them to share … The post Industry Experts Make Predictions for Biden Administration’s Impact on ARM Industry appeared first on AccountsRecovery.net.

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Accounts Receivables Management 246

Nerd Wallet

JANUARY 19, 2021

Purchasing insurance may not be as fun as choosing new furniture and paint colors, but it’s a critical part of the homebuying process. Your homeowners insurance policy is a financial safety net in case of a disaster, so you’ll want to ask a few important questions to make sure you have the coverage you need. Sarah Schlichter writes for NerdWallet. Email: sschlichter@nerdwallet.com.

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Jimerson Firm

JANUARY 19, 2021

In traditional lending and loan servicing, it is commonplace for loans to be assumed, assigned, or sold. Most lenders are likely familiar with these servicing actions, and many lenders have their own requirements and procedures for handling each of them. However, when servicing a Small Business Association (“SBA”) loan, lenders and CDCs must be cognizant of the applicable SBA protocols and handle each of these servicing requests in accordance with the SBA’s loan program requirements.

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Speaker: William Hord, Senior VP of Risk & Professional Services

Enterprise Risk Management (ERM) is critical for industry growth in today’s fast-paced and ever-changing risk landscape. When building your ERM program foundation, you need to answer questions like: Do we have robust board and management support? Do we understand and articulate our bank’s risk appetite and how that impacts our business units? How are we measuring and rating our risk impact, likelihood, and controls to mitigate our risk?

Banks

PDC Flow

JANUARY 19, 2021

Accounts receivable businesses have a unique relationship with consumers. Often, you find yourselves collecting a bill that consumers may not be excited to pay for a good or service that has already been delivered. Making payment as easy as possible will go a long way towards fast resolution and higher debt recovery rates. . Understanding the basic elements of how to improve customer experience is simple.

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Account Recovery

JANUARY 22, 2021

MRS is pleased to announce that Kelly Feoli has been promoted to Executive Vice President of Operations, assuming responsibility for all third party operations as well as overseeing the Training Department and joining MRS’s Executive team. Feoli joined MRS in 2010 as an agent, with no previous experience in the collection industry. For several years, … The post Kelly Feoli Promoted to Executive Vice President of Operations appeared first on AccountsRecovery.net.

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Collections 246

Nerd Wallet

JANUARY 19, 2021

Though it’s increasingly legal, marijuana can still raise red flags for life insurance companies. While some insurers don’t mind covering you if you use pot, others will charge you higher rates or deny your application outright. About 22.2 million Americans use marijuana every month, according to the Centers for Disease Control and Prevention. It’s now.

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Jimerson Firm

JANUARY 20, 2021

Subcontractors are often stuck in a situation where the general contractor refuses to pay them because the general contractor has not been paid by the owner. In support of their refusal to pay, general contractors may rely on a “pay-if-paid” provision in the subcontract. Due to the risk of nonpayment, many subcontractors are reluctant to agree to such a provision.

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Construction 90

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