Sat.Apr 03, 2021 - Fri.Apr 09, 2021

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How COVID-19 Has Changed Patient Collections

Credit Management Company

Budgets are tight for both patients and healthcare organizations. For patients, pandemic-related job loss created financial instability. The latest figures released by the Bureau of Labor Statistics show the continued financial impact of the pandemic. As of the beginning of March 2021, the unemployment rate is at 6.2 percent and the number of unemployed individuals is at 10 million.

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CFPB Proposes Delay in Enactment of Debt Collection Rule

Account Recovery

The Consumer Financial Protection Bureau today announced it is issuing a Notice of Proposed Rulemaking aimed at delaying the effective date of Regulation F, its debt collection rule, until January 29, 2022. The rule was scheduled to go into effect on November 30, 2021. The rule was issued in two parts, back in October and … The post CFPB Proposes Delay in Enactment of Debt Collection Rule appeared first on AccountsRecovery.net.

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Why People Resist Bankruptcy

Sawin & Shea

Bankruptcy is a smart, legal, and effective way to wipe out a mountain of old debts. Yet, it still has a stigma that makes many people avoid it. There are many reasons why people resist bankruptcy, but some are based on fiction rather than facts. Maybe you’re avoiding bankruptcy merely because of a mistaken impression about it, so let’s clear things up.

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Are Your Client Payments Still Affected by the COVID-19 Pandemic?

Enterprise Recovery

Over the course of 2020, businesses had to make adjustments to survive. For some, it was a matter of moving employees to remote work or pivoting to a new business strategy. For others, the effect of COVID-19 meant halting plans, shutting down, or laying off employees. Manufacturers were unable to move products due to global supply chain challenges and small-to-medium businesses faced delayed payments.

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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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Debt collection ensures proper access to consumer credit

American Profit Recovery

The debt collection industry is a necessary component of the US economy. Professional collectors provide a critical service to both small businesses as well as nationwide organizations in helping them secure late payments from customers. Without third-party assistance to secure back payments, many organizations would struggle on several levels. While many consumers are not thrilled to be on the receiving end of a communication for late payment, what is important to understand is that completing

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CFPB Proposes Mortgage Servicing Changes to Prevent Wave of COVID-19 Foreclosures

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today proposed a set of rule changes intended to help prevent avoidable foreclosures as the emergency federal foreclosure protections expire.

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Can I Deduct Medicare Costs on My Income Tax?

Nerd Wallet

If you itemize deductions on your income taxes, Medicare costs, such as premiums and copayments, may be deductible. Your unreimbursed medical and dental expenses, including premiums, deductibles, copayments and other Medicare expenses, may be deductible to the extent that they exceed 7.5% of your adjusted gross income. Premiums for Medicare Part B and Part D.

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These 3 tips will help your business get paid faster

American Profit Recovery

Every business wants to get paid faster. In fact, a business or medical practice NEEDS to get paid sooner. Late payments can do all types of damage to a business. It hurts cash flow, delays your own payments on bills, and costs you money in the long run. Late-paying customers can create untold amounts of stress on a business and can even cause those consumers to go elsewhere because they have not paid you.

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Bill Introduced to Forgive Student Loan Debts for Frontline Healthcare Workers

Account Recovery

A bill has been introduced in the House of Representatives that seeks to cancel any outstanding student loan debt for frontline healthcare workers. The bill, H.R. 2418, called the Student Loan Forgiveness for Frontline Health Workers Act, was introduced yesterday by Rep. Carolyn Maloney [D-N.Y.]. The bill includes 23 cosponsors, all of them Democrats.

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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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How to Live a Great Yet Frugal Life

Credit Corp

This post originally appeared on Arrest Your Debt and has been republished with permission. Often, the word frugal is associated with negativity. Although a frugal life seems like a lot of sacrifices, it doesn’t have to be. Living a frugal life should add value to your life. So, What’s a Frugal Lifestyle? This is where you get deliberate with your spending habits.

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Why Your Dog Needs Liability Insurance Even if She’s Perfect

Nerd Wallet

My dog Maisie is an angel. The most vicious she gets is when she decides it’s time to attack her bacon ball. Her greatest foe is the doorbell. But just in case a human hand happens to get entangled with the bacon ball mid-chomp or her howls at the door scare someone off the steps. Doug Sibor writes for NerdWallet. Email: dsibor@nerdwallet.com. The article Why Your Dog Needs Liability Insurance Even if She’s Perfect originally appeared on NerdWallet.

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Debt Collection in the Pandemic: Compassion Is Critical to Success

Fico Collections

The economic and financial fall-out following the turbulence of the past 12 months has highlighted the critical need for agility, flexibility and adaptability in unprecedented times. This is particularly true for managing debt collection in the pandemic. It’s clear that being slow to react or tone-deaf to customers facing financial difficulty by delivering impersonal or threatening collections messages — while lacking the flexibility to find collaborative ways to solve your customers challenges

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WSJ Calls Out Collector For Filing More Lawsuits During Pandemic

Account Recovery

The Wall Street Journal has called out a collector for filing more lawsuits during the pandemic than before, saying the firm has “cemented its reputation as a maverick” in the accounts receivable management industry, because most of the company’s competitors filed fewer lawsuits once the pandemic hit. The collector – Sherman Financial Group – filed … The post WSJ Calls Out Collector For Filing More Lawsuits During Pandemic appeared first on AccountsRecovery.ne

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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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The Debt Snowball Method: 6 INTELLIGENT Ways to Get Started

Credit Corp

This post originally appeared on The Financially Independent Millennial and has been republished with permission. Have you stumbled upon numerous methods of eliminating debt ? Perhaps you find yourself wondering how to get out of an out of control debt spiral. If so, the debt snowball method could be a simple way to pay down debt. While there are many ways to do this, the snowball method is one of the very best and easiest methods to implement.

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NerdWallet’s Best Metal Credit Cards

Nerd Wallet

You’re out to dinner with friends when the bill arrives. “Let me get that,” you say as you toss your metal credit card onto the table, where it lands with a satisfying thud. You’re not one of the plastic masses. You possess the elegance, confidence and possibly even the shoulder pads of one of those. Sara Rathner writes for NerdWallet. Email: srathner@nerdwallet.com.

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Five Key Construction Contract Terms That Every Building Owner Needs to Negotiate

Jimerson Firm

When a building owners hires a contractor to construct a building or other construction project, the contractor is often significantly more experienced when it comes to the ins and outs of the construction contract as well as the overall construction process. Oftentimes, a building owner may simply accept the contract terms provided by the contractor, without realizing how critical the contract terms can be to the outcome of the project.

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Compliance Digest – April 5

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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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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How to Protect Yourself from Utility Bill Increases

Credit Corp

Utility bills are an inescapable part of modern life. Before COVID-19 , heating, cooling, lighting, cooking, electronic gadgets and other mod cons cost average American families $115 per month. Then people began working from home during the pandemic, their energy bills rose accordingly. So, how can you protect yourself from utility bill increases in an ever-shifting world?

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How to Start an Ecommerce Business: A Step-by-Step Guide

Nerd Wallet

Much like starting any business, learning how to start an ecommerce business isn’t always easy—nevertheless, the goal of setting up, launching, and maintaining sites where entrepreneurs, designers, and creators of all sorts can sell their wares is more attainable now than it ever has been. How to start an ecommerce business in 7 steps Research. Eric Goldschein writes for NerdWallet.

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Prosperity Now is helping take Baby Bonds to the next level – the States

Prosperity Now

Leaders in Congress have signaled that now is the time to look beyond recovery toward large-scale progressive policies like the

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Daily Digest – April 9. Judge Partially Grants MTD in Class-Action; Bill Introduced to Forgive Healthcare Workers’ Student Loans

Account Recovery

JUDGE PARTIALLY GRANTS MTD IN FDCPA CLASS-ACTION, CALLS OUT COLLECTORS FOR NOT BEING CLEAR ENOUGH IN LETTERS A District Court judge in New Jersey has granted a defendant’s motion to dismiss on two claims that it violated the Fair Debt Collection Practices Act, but denied the motion related to the other claims, while also sharing … The post Daily Digest – April 9.

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ERM Program Fundamentals for Success in the Banking Industry

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?

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ExtraCredit by Credit.com–Try It Free for 30 Days

Credit Corp

Credit.com is offering a free 30-day trial of ExtraCredit. If you’re in the market for a financial tool that goes above and beyond traditional free credit monitoring, this might be the chance you’ve been waiting for. What Is ExtraCredit? ExtraCredit is the most comprehensive credit monitoring tool out there. Many credit monitoring tools make it possible for you to get a good look at your reports on the regular, and some may offer informational credit scores that update every week or

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14 Business Startup Costs Business Owners Need to Know

Nerd Wallet

Deciding to start a business is exciting, but can also be daunting if you’re a new entrepreneur. Calculating business startup costs, worrying about long-term profitability, securing startup funding—it can all be pretty stressful. 14 common small business startup costs Equipment: $10,000 to $125,000 Incorporation fees: Under $300 Office space: $100 to $1,000 per employee per.

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CFPB Takes Action Against Debt Collector And Its Owner For Falsely Threatening Consumers with Legal Action

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today issued a consent order against a debt collector and its owner for harassing thousands of consumers, falsely threatening them with legal action. The CFPB found that Yorba Capital Management, LLC (Yorba) and its former owner, Daniel Portilla, Jr., violated the Consumer Financial Protection Act of 2010 (CFPA) and that Yorba violated the Fair Debt Collection Practices Act (FDCPA).

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Judge Partially Grants MTD in FDCPA Class-Action, Calls Out Collectors For Not Being Clear Enough in Letters

Account Recovery

A District Court judge in New Jersey has granted a defendant’s motion to dismiss on two claims that it violated the Fair Debt Collection Practices Act, but denied the motion related to the other claims, while also sharing his displeasure at how collectors have induced “endless litigation” because of how they choose to word the … The post Judge Partially Grants MTD in FDCPA Class-Action, Calls Out Collectors For Not Being Clear Enough in Letters appeared first on AccountsR

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You Put in a Full Work Week. Shouldn’t Your Collections Software Do the Same?

Discover a modern, cloud-based collection system that never takes a rest day. MeridianLink® Collect is an intuitive platform with advanced customization options developed to simplify the collections process. Here are four ways MeridianLink Collect can support your team: Omnichannel communications Compliance rules & checklists Workflows & queues One interface with supporting integrations And that’s just the start.