Sat.Dec 03, 2022 - Fri.Dec 09, 2022

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Poll Reveals Consumers’ Feelings About CFPB, Debt Collection Activities

Account Recovery

While the fate of the Consumer Financial Protection Bureau may rest in the hands of the Supreme Court, consumers of all political affiliations are in favor of the Bureau’s efforts to protect consumers from abusive and fraudulent financial products, according to the results of a poll that was released last Friday. The poll was commissioned … The post Poll Reveals Consumers’ Feelings About CFPB, Debt Collection Activities first appeared on AccountsRecovery.net.

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AR Automation: How To Set Up Your First Automated Collections Process

Chargent

Automated Collections Software Works for Your Business When it comes to collections activity, every dollar, and every minute counts. Chargent’s Automated Collections add-on is a powerful dunning tool that does the heavy lifting of collecting late and failed payments - right in Salesforce. You’ll realize immediate ROI, saving time and money by reducing manual [.].

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Smart Money: What the Jobs Report and Recent Layoffs Mean for You

Nerd Wallet

Welcome graf This week’s question graf, starting with a bold sentence: Then we pivot to this week’s question, from XXX. They say, “…” (CHECK TO BE SURE THIS EXACTLY MATCHES THE QUESTION QUOTED IN TRANSCRIPT) Edit lightly if needed for clarity. Check out the Smart Money podcast on any of these platforms: (REMEMBER THESE NEED. Anna Helhoski writes for NerdWallet.

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4 Signs Your B2B Collections Policy Isn't Working

Enterprise Recovery

The objective of an effective collections policy is to ensure that clients pay on time. The policy will also determine what happens when the client doesn't pay within the timeframe of their payment terms. When your business is struggling with cash flow or falling behind on collecting what's owed, it could be a sign that the policy needs updating. Here are signs that your B2B collections policy isn't working.

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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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Judge Vacates Default Judgment Against Defendant in FDCPA Suit

Account Recovery

A District Court judge in Indiana has granted a motion to vacate a default judgment that was entered against a defendant in a Fair Debt Collection Practices Act case, ruling that the plaintiff never properly served the defendant with the summons and complaint, after the defendant removed the case to federal court. A copy of … The post Judge Vacates Default Judgment Against Defendant in FDCPA Suit first appeared on AccountsRecovery.net.

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Starting a Business Has Gotten Harder This Year, Data Suggests

Nerd Wallet

The economic environment for starting a small business is significantly less hospitable than it was a year ago, according to new data from NerdWallet’s Small-Business Opportunity Index, and the increasingly unfavorable conditions have some small-business experts advising would-be entrepreneurs to prepare for rougher-than-usual starts — or even to put their business plans on hold.

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In-depth look at the distribution of average U.S. FICO® Scores in 2022

Fico Collections

Home. Blog. FICO. In-depth look at the distribution of average U.S. FICO® Scores in 2022. The national average FICO Score did not go up for the first time in over a decade, a trend that’s seen at the city and state level across the nation. KristinaRobinson@fico.com. Tue, 08/30/2022 - 13:08. by Tom Quinn. expand_less Back To Top. Wed, 12/07/2022 - 13:00.

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Getting to Know Justin Miller of Vital Solutions

Account Recovery

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 Justin Miller of

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What Is the Average Used Car Loan Rate?

Credit Corp

Article originally published July 13th, 2016. Updated December 6th, 2022. Just a few years ago, nearly one in three drivers chose to lease rather than purchase a vehicle. Today, however, less than one in five drivers lease their cars. Why such a dramatic shift? While there are many reasons for this change, the primary cause for this drop in leased vehicles is cost.

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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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What You Need to Know About the New Robinhood IRA

Nerd Wallet

Sam Taube writes for NerdWallet. Email: staube@nerdwallet.com. Twitter: @samuel_taube. The article What You Need to Know About the New Robinhood IRA originally appeared on NerdWallet.

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CICMQ Accredited Companies Discuss Their Current Situation During These Challenging Economic Times

CICM

On Wednesday, 23rd November, CICM and Head of Accreditation Karen Tuffs FCICM hosted an exclusive CICMQ virtual event with our prestigious accredited companies in attendance. The event, ‘ Supporting Our Network Through Challenging Economic Times’ , asked our companies about the current economic situation, how they were putting the well-being of their employees into practice and any adjustments for their customer’s payment terms.

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McHenry Tapped to Lead House Financial Services Committee

Account Recovery

Surprising probably exactly zero people, Rep. Patrick McHenry [R-N.C.] was selected yesterday to be the next chair of the House Financial Services committee. Rep. McHenry, who has been ranking member of the committee for the past two years, will take over for Rep. Maxine Waters [D-Calif.] when the new congressional term is gaveled into session … The post McHenry Tapped to Lead House Financial Services Committee first appeared on AccountsRecovery.net.

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More UK Energy firms are predicted to go bust in 2023

UK debt collections

More UK energy firms are predicted to go bust in 2023 according to one expert. The boss of Centrica, parent company of British gas made the stark prediction that many UK energy firms are already insolvent. Centrica Chief Executive Chris O’Shea is reported in the Daily Mail as suggesting some small energy firms have already run out of cash. This would render them as technically insolvent which makes for uncomfortable reading for many.

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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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Even With Payments Paused, Student Loan Borrowers Struggle

Nerd Wallet

Eliza Haverstock writes for NerdWallet. Email: ehaverstock@nerdwallet.com. Twitter: @elizahaverstock. The article Even With Payments Paused, Student Loan Borrowers Struggle originally appeared on NerdWallet.

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Equal Pay for Latinas = Better Economy for All

Prosperity Now

The average Latina woman would have to work 70 years to earn what the average White man earns over a typical 35-year

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Reg F Did Little to Push Agencies Into Using Email, Text: Survey

Account Recovery

Regulation F has had “little effect” on the communication methods used by third-party debt collectors, with email communications placing a “distant third” behind letters and phone calls attempting to get in touch with consumers to pay their unpaid debts, according to a report released yesterday by TransUnion on the third-party collection market.

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Government to review UK Small Business Late payments

UK debt collections

The government is to review worsening UK Small Business late payments it has been announced. Business secretary Grant Shapps said the review was to stop larger companies “ripping off” their smaller counterparts. The government also urged larger businesses to pay their suppliers promptly. It warned that small businesses spend significant time and resources chasing late payments from businesses they supply, which can lead to cash flow problems.

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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 the Airbnb ‘Gold Rush’ Could Impact the Homebuying Market

Nerd Wallet

Airbnb’s business is booming. The popular home-sharing platform reported its highest revenue and profit ever in the third quarter of 2022, due in large part to strong demand and higher daily rates. The surging vacation rental industry has caught the attention of real estate investors and entrepreneurs, who have been amassing large portfolios of short-term.

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The ever-expanding role of big data

On Guard

A whopping 41% of finance professionals expect big data to be the gamechanger within the industry. The FinTech Barometer, Onguard’s annual finance survey, shows for several consecutive years that the availability of data is of great importance to organisations. In as many as 95% of companies, data plays a role. Graydon research, for example, shows that companies that use big data in their decision-making and business processes perform 20% better than those that do not.

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Daily Digest – December 8. Getting to Know Justin Miller of Vital Solutions; Reg F Did Little to Push Agencies Into Using Email, Text Messaging

Account Recovery

GETTING TO KNOW JUSTIN MILLER OF VITAL SOLUTIONS Grit and empathy — the two most important components of the genetic code that make up successful professionals in the accounts receivable management industry. Justin Miller — back for his second stint at Vital Solutions — definitely has both, which is what has allowed him to scale … The post Daily Digest – December 8.

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What is a keeper attachment and how does it help collection efforts?

Collections Law

Collecting on a debt owed by another business is not always an easy task. Those who are looking for effective and aggressive legal options to collect on outstanding debts can find the advocacy they need with the attorneys at the Law Offices of Alan M. Cohen who have helped businesses collect on outstanding debt since 1994. What collection options are available in Massachusetts?

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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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Smart Money: End of Credit Card Rewards, and Luxury Credit Cards

Nerd Wallet

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. This week’s episode starts with a discussion about the potential end of credit card rewards. Then we pivot to this week’s money question from Sheryl, who wrote us this email: “Hello Smart Money folks! I could use some advice. I am trying. Jae Bratton writes for NerdWallet.

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The ever-expanding role of big data

On Guard

A whopping 41% of finance professionals expect big data to be the gamechanger within the industry. The FinTech Barometer, Visma | Onguard’s annual finance survey, shows for several consecutive years that the availability of data is of great importance to organisations. In as many as 95% of companies, data plays a role. Graydon research, for example, shows that companies that use big data in their decision-making and business processes perform 20% better than those that do not.

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Judge Denies MTD in FDCPA Class Action Over Eviction

Account Recovery

A District Court judge in Colorado has denied a defendant’s motion to dismiss in a class-action Fair Debt Collection Practices Act case, ruling that a document it sends to individuals who are being evicted by their landlords was sufficiently alleged by the plaintiff to be a deceptive communication claim and that the actions of the … The post Judge Denies MTD in FDCPA Class Action Over Eviction first appeared on AccountsRecovery.net.

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Addressing Portfolio Risk in Economic Uncertainty: Part 1 (2022)

Fico Collections

Home. Blog. FICO. Addressing Portfolio Risk in Economic Uncertainty: Part 1 (2022). This four-part series looks at embedding portfolio risk resilience into decisions across the credit lifecycle through targeted application of the FICO ® Resilience Index. FICO Admin. Tue, 02/18/2020 - 14:57. by David Binder. Senior Director, Scores. expand_less Back To Top.

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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.