Sat.Jan 08, 2022 - Fri.Jan 14, 2022

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Hiring an Aggressive Collection Agency for your Unpaid Bills

Nexa Collect

If you plan to outsource your accounts receivable to an aggressive collection agency, then kindly read this article and be aware of all the risks you are taking. Times have changed when collectors could easily put aggressive pressure on debtors or use forceful tactics to recover your money, without any repercussions. There are well-defined debt collection laws, both at the federal and state level, that prohibit debt collection companies from using abusive, unfair or deceptive practices to collec

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How to File for Bankruptcy

Better Credit Blog

Feeling crushed by debt is one of the most stressful situations possible, but there are options. If you find yourself saddled with more debt than you can reasonably pay off in a timely manner, you can always file for bankruptcy. Filing for bankruptcy is a serious step, and one that often has a bit of a negative connotation, as some people worry that it’s a sign they failed in some way, or they might worry that they’ll carry around a financial stigma for a while that will affect their

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What Is Debt Management and How Does It Work?

Qualco

NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. You can view it here. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. However, in a small number of credit businesses, the right strategies for systems and people have not been set.

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Daily Digest – January 14. Navient to Cancel $1.8B in Student Loans; CFPB Warns Medical Debt Collectors

Account Recovery

NAVIENT TO CANCEL $1.8B IN STUDENT LOANS UNDER DEAL WITH STATE AGS A deal was announced yesterday between student loan servicer Navient and 39 state attorneys general that will see the company pay $145 million in restitution and cancel $1.7 billion in delinquent private student loans to settle claims it took advantage of individuals when … The post Daily Digest – January 14.

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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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A Business Owner's Task List for the New Year

Enterprise Recovery

While individuals attempt to keep their New Year's resolutions, new and growing businesses can also prepare for the year ahead. By setting up for success in January and February, you and your business are getting ahead of the curve so the rest of the year runs smoothly. This task list will set up success for business owners in the new year.

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5 Steps to Strengthen Your Finances in 2022

Nerd Wallet

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. 2021 was a year of financial strain for many Americans: Household debt and the overall cost of living increased, while median household income decreased, according to NerdWallet’s annual household debt.

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NACA Calls for FDCPA, FCRA Penalties to be Increased

Account Recovery

Statutory penalties under the Fair Debt Collection Practices Act and the Fair Credit Reporting Act should be tied to inflation and are being devalued because they represent monetary amounts that have not kept up with the times, according to an essay published by the National Association of Consumer Advocates. The FCRA, enacted in 1970, and … The post NACA Calls for FDCPA, FCRA Penalties to be Increased appeared first on AccountsRecovery.net.

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GAO Report Indicates Tightening Regulations Coming on Crypto ATMs

Troutman Sanders

In a January 10 report titled, “Virtual Currencies: Additional Information Could Improve Federal Agency Efforts to Counter Human and Drug Trafficking,” the Government Accountability Office (GAO) identified virtual currency kiosks as one reason driving an increase in the use of crypto payments to facilitate illegal activities, such as human and drug trafficking.

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What is the difference between Chapter 7 and Chapter 13 bankruptcy?

Roths Child Law

Are you drowning in debts? If so, you are not alone. The pandemic left many Americans unemployed and without the means to pay off their debts. However, you can get rid of the financial and emotional pressure of being a debtor by filing for Chapter 7 or Chapter 13 bankruptcy. Both Chapters can help you start anew and discharge your debts, but they work differently.

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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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11 Commandments of Digital Banking: The Customer Journey

Fico Collections

Last year we published a highly successful The 11 Commandments of Digital Banking eBook that introduced the 11 commandments: Digital lift-and-shift is not a strategy! Friction – not inherently good or evil. Be personable in this impersonal channel. Respect the data. Engage me, teach me – feed by TikTok obsession. Use your branch wisely! Respect my time and match my effort.

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Landmark Strategy Group’s Mark Lesinski Helps Pack Holiday Meals on Wheels

Account Recovery

BUFFALO, N.Y. – Mark Lesinski, Owner and President at Landmark Strategy Group, LLC, is a volunteer with FeedMore WNY, a nonprofit organization dedicated to feeding neighbors in need across Western New York. The organization encompasses both a food bank and the area Meals on Wheels program. Mr. Lesinski joined in a warehouse packing day on … The post Landmark Strategy Group’s Mark Lesinski Helps Pack Holiday Meals on Wheels appeared first on AccountsRecovery.net.

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What It’s Like to Fly Semiprivate on JSX

Nerd Wallet

Would you jump on the opportunity to fly “private” for the price of a normal airline seat? That’s the experience JetSuiteX promised when it launched in 2016. Now known as simply JSX, the public charter airline has since expanded to dozens of routes along the West Coast and is expanding eastward. But what does flying. JT Genter writes for NerdWallet.

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ExtraCredit® by Credit.com–Try It for One Week

Credit Corp

If you’ve spent any time on Credit.com, you might’ve heard about ExtraCredit by now. Maybe you’ve read a few of our articles about ExtraCredit. Or maybe you’ve seen an article about ExtraCredit written up on another site (more on that later). Either way, we’re hoping that we’ve piqued your interest just a little bit. Let’s say that you’re interested, but you’re a bit hesitant to make the leap.

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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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Honoring Martin Luther King Jr. in our Fight for Transformative Racial Economic Justice

Prosperity Now

“But far from representing retrogression and tragic meaninglessness, the present tensions represent the necessary pains that accompany the birth of

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Getting to Know Jennifer Whipple of Collection Bureau Services

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 Jennifer Whipple

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Can You Get a HELOC on an Investment Property?

Nerd Wallet

If you’ve built enough equity in your investment property, you may have considered getting a home equity line of credit, or HELOC, to make improvements, consolidate debt or even buy a new property. You can get a HELOC on an investment property and tap into its equity, but there are strict qualification requirements, they aren’t. Linda Bell writes for NerdWallet.

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CFPB Announces Settlement Regarding the 2019 Taskforce on Federal Consumer Financial Law

Consumer Finance

On January 14, 2022, the Consumer Financial Protection Bureau announced it has settled a lawsuit filed by the National Association of Consumer Advocates, U.S. Public Interest Research Group, and Professor Kathleen Engel. The lawsuit alleged that the Taskforce on Federal Consumer Financial Law did not comply with the Federal Advisory Committee Act.

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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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Late payment: Small Businesses must act says Debt Collection Expert

UK debt collections

UK’s Small Businesses are under serious threat and must act now according to one industry expert. It has been reported that 440,000 Small Businesses in the UK could be forced out of Business by a current late payment crisis. The Federation of Small Businesses (FSB) has called for urgent government intervention to improve the way small Businesses are paid.

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Daily Digest – January 13. Getting to Know Jennifer Whipple; BK Appeals Court Overturns Ruling

Account Recovery

GETTING TO KNOW JENNIFER WHIPPLE OF COLLECTION BUREAU SERVICES In what might be a first for the “Getting to Know” series, a participant has taken the best advice she has ever received and turned that into some pretty good advice of her own. “Adapt, adjust, and overcome” writes Jennifer Whipple — and if that doesn’t … The post Daily Digest – January 13.

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What Is an Additional Insured Endorsement?

Nerd Wallet

An additional insured endorsement changes an insurance policy to expand coverage to a person or organization that isn’t named in the original policy. You may need to add other parties to your business insurance policy if you lease space or work as a subcontractor. To break the term down further, an “additional insured” is a. Rosalie Murphy writes for NerdWallet.

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CFPB Sues United Holding Group, Its Affiliates, and Its Owners for Illegal Debt Collection Practices

Consumer Finance

The debt collection company and its owners knowingly used third-party collectors that engaged in unlawful and deceptive tactics.

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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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What is Contract Management? Steps to Implement a Digital Contract Management Strategy

PDC Flow

What is contract management? Simply put, contract management is the process of managing the negotiation , creation, sending or receiving of contracts between parties. However, that process will look drastically different for a large corporation with the luxury of a contract manager and staff versus a small business with just a few employees. What does contract management look like within your own company?

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BK Appeals Court Overturns Attorney’s Fee Award Over Time-Barred Claims

Account Recovery

The Bankruptcy Appellate Panel, Ninth Circuit, has overturned a bankruptcy’s court ruling that awarded a debtor attorney’s fees after a debt collector filed proofs of claim that were time-barred. A copy of the ruling in the case of LVNV Funding v. Andrade-Garcia can be accessed by clicking here. The debtor filed for Chapter 7 bankruptcy … The post BK Appeals Court Overturns Attorney’s Fee Award Over Time-Barred Claims appeared first on AccountsRecovery.net.

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What Is Fiat Currency?

Nerd Wallet

Fiat currency is a term that describes the money you use every day. The U.S. dollar is a fiat currency, as are most other modern currencies circulating around the world. Fiat currencies’ values are generally supported by the economic power of a government. This kind of money is different from an asset-backed currency, which derives. Andy Rosen writes for NerdWallet.

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5 Ways to Maximize Credit Card Rewards Without Overspending

Credit Corp

The views and opinions expressed in this article are those of the author only and are not endorsed by Credit.com. Shopping for “needs” is one thing, but we all know how huge sales can convince us to stock up on “wants.” You know how it goes–you head to the store to pick up bread and milk only to come home with a new coffeemaker.

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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.