Account Recovery
AUGUST 7, 2020
TransUnion is currently fielding its 2nd annual third-party collections industry survey. The collections industry has endured unprecedented challenges — insights gained from the survey will serve as a benchmark for how communications and technology are changing, the extent to which the fallout from the COVID-19 pandemic is reshaping the industry, and other key trends.
American Profit Recovery
AUGUST 6, 2020
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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Enterprise Recovery
AUGUST 7, 2020
No matter the type or size of your business, accounts receivable and collections is a valuable part of your operations and cash flow. B2B (business-to-business) accounts receivable and collections, however, is very different than B2C (business-to-consumer) for a number of reasons. In this post, we will uncover the differences between these two types of businesses and how their receivables and collections processes are different.
Nexa Collect
AUGUST 6, 2020
At some point, nearly all businesses will face delinquent accounts. While it’s smart to initially attempt collection on your own, there’s only so much work you should do. Trying to collect a bad debt is draining on your time and your resources. Eventually, it makes sense to pass the task on to a professional debt collection company. Need a Collection Agency easy to work with?
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.
Account Recovery
AUGUST 4, 2020
As might be expected, customer service representatives, a category of workers that include collection agents, were among the hardest hit during the early days of the pandemic, according to research that was published by the Federal Reserve Bank of St. Louis. The research looked at the annual earnings of those who had jobs that were … The post The Workers Most Affected By the COVID-19 Pandemic appeared first on AccountsRecovery.net.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Nerd Wallet
AUGUST 7, 2020
Moving is stressful enough without throwing a pandemic into the mix. Many Americans may be forced to consider moving as federal foreclosure and eviction moratoriums expire. In the first week of July, 32% of Americans did not make a full, on-time housing payment, according to a nationally representative survey by the website Apartment List. Others. Amrita Jayakumar is a writer at NerdWallet.
Nexa Collect
AUGUST 2, 2020
During an unstable economic environment, companies must go to great lengths to ensure their market position, financial strength and durability. That means monitoring and controlling risks as much as possible. One of those risks consists of a company’s clients. B2B enterprises are particularly vulnerable because losing one large client can deal a significant blow to the company.
Account Recovery
AUGUST 4, 2020
It might be one of the biggest mis-conceptions in the accounts receivable management industry today. Ask 10 different professionals to define either artificial intelligence or machine learning and you will likely get 10 different definitions with very little in common between them. But this technology is starting to revolutionize the debt collection industry.
Credit Corp
AUGUST 3, 2020
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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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.
Nerd Wallet
AUGUST 3, 2020
August mortgage rates forecast Mortgage rates are likely to set record lows in August for the third month in a row. The 30-year fixed-rate mortgage averaged 3.18% APR in July, a record low in NerdWallet’s mortgage rate survey. The average rate tumbled 15 basis points compared with June, which at the time had the record. Holden Lewis is a writer at NerdWallet.
The Kaplan Group
AUGUST 6, 2020
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?
Account Recovery
AUGUST 7, 2020
A District Court judge in New York has agreed to adopt a Magistrate Judge’s recommendation that a defendant’s motion for judgment on the pleadings be granted after it was sued for violating the Fair Debt Collection Practices Act because it allegedly did not properly identify the creditor to whom a debt was owed in a … The post Judge Grants Motion for Defense in FDCPA Case Over Name of Current Creditor in Letter appeared first on AccountsRecovery.net.
Credit Corp
AUGUST 5, 2020
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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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.
Nerd Wallet
AUGUST 5, 2020
I was once on a flight that was delayed several hours because of a missing beverage cart. The flight crew explained that this happened not because the passengers might riot without ginger ale, but because the Federal Aviation Administration required the beverage carts to be stowed before takeoff — which meant the carts needed to. Sam Kemmis is a writer at NerdWallet.
Debt
AUGUST 7, 2020
Thursday was not a good day for Americans in need of more financial relief from COVID-19. Your second stimulus check is not in the mail. Neither is an extension of the $600 supplement added to your unemployment checks. And if you’re looking for help avoiding eviction or foreclosure … well, good luck with that! Meeting […]. The post Second Round of Stimulus Checks appeared first on Debt.org.
Account Recovery
AUGUST 3, 2020
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.
Credit Corp
AUGUST 5, 2020
Imagine you’re shopping for a new car and finally find a reasonably priced set of wheels that you like. But when the dealer pulls your credit, that seemingly affordable monthly payment is no longer available to you. Instead, you’re offered a subprime car loan at 10% or even 20% interest because your credit isn’t strong enough to get a better rate.
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?
Jimerson Firm
AUGUST 7, 2020
On July 1, 2020, the Uniform Commercial Real Estate Receivership Act (“Act”) became law in Florida as part of the newly created Chapter 714 of the Florida Statutes. The Act codifies existing common law in Florida regarding the right to have a receiver appointed by the court in commercial foreclosure actions, and provides much needed clarity, predictability, and uniformity on the standard for the appointment of a receiver and the powers of receivers.
Brown and Joseph
AUGUST 3, 2020
ITASCA, IL – Brown & Joseph / Altus, the leading Commercial Collections company in the U.S., is very pleased to announce that Ellen Reinhardt has joined… The post Brown & Joseph Welcomes Ellen Reinhardt appeared first on Brown & Joseph, LLC.
Account Recovery
AUGUST 5, 2020
A lot of people– more than 3 million — are going to lose their health insurance this year because of the coronavirus pandemic, according to data provided by the Robert Wood Johnson Foundation and the Urban Institute. As many as 10 million individuals are going to lose their employer-sponsored health insurance, as well, creating a … The post Pandemic Causing Millions to Lose Health Insurance: Report appeared first on AccountsRecovery.net.
Credit Corp
AUGUST 4, 2020
Attending college or university is a dream for a ton of people. Yet higher education can be expensive, seemingly putting that dream out of reach for many students and families. Tuition at American schools has steadily increased for decades, so it can be hard for your average student to afford it. But it’s not only tuition costs that you need to consider: fees, room and board, off-campus living, meal plans, textbooks, living essentials and other supplies all cost money.
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?
Nerd Wallet
AUGUST 3, 2020
Walk through an airport, step into a bank or just fire up your browser and you’ll likely be met with alluring offers for credit cards with seemingly too-good-to-be-true bonuses. Thousands of points over here! Hundreds of cash-back dollars over there! It can be tempting to rush right into these limited-time promotions without looking at the. Erin Hurd is a writer at NerdWallet.
Debt Recoveries
AUGUST 3, 2020
Section 51 of the Insurance Contracts Act 1984 (Cth) (“ICA”) has shown us that third parties who have a claim against an insured, are now provided with an avenue to make a claim directly against the insurer. However, case law has shown that third parties bringing a claim under section 51 of the ICA are not always successful. Section 51 of the ICA has been implemented for the purpose of providing justice to third parties who have a claim against the insured, in instances where the insured has die
Account Recovery
AUGUST 4, 2020
Today is the deadline for individuals to file comments on the Consumer Financial Protection Bureau’s Supplemental Notice of Proposed Rulemaking (SNPRM) on time-barred debt disclosures, and unless a lot of people are waiting until the last minute, it is not going to take long to read all the comments that have been submitted so far. … The post Comment Period on Time-Barred Debt Disclosures Closes Today appeared first on AccountsRecovery.net.
Re:Ceeve
AUGUST 6, 2020
Business automation gets a bad rap. Type the word “Automation” into Google and the search engine spits out this example: ”unemployment due to the spread of automation.” Robots are nevertheless already alive in enterprises. Here’s how to tame the machines and keep your enterprise automation under control. While society tends to focus on the negative aspects of automation, enterprises have much to gain from its adoption.
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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.
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