American Profit Recovery
MAY 20, 2024
Every size business, whether a small business or a larger organization will have to manage late and non-paying customers. It’s just a reality of being in business and part of the accounts receivable process. Not every customer is going to pay their bills on time. That would be nice, but it just doesn’t happen for a wide range of reasons.
Roths Child Law
MAY 21, 2024
Bankruptcy and medical debt go hand-in-hand. One of the top reasons that people file for bankruptcy is because their medical bills have become overwhelming. They’re unable to pay what they owe, so they’re looking for a fresh start. One reason why this happens is because people will get out-of-network services. They may not know that this is what they’re doing at the time, but a later analysis of the medical services rendered will show that they were out of the network approved by the health insu
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Burt and Associates
MAY 20, 2024
Table of Contents: Introduction Streamlining Your Collection Process Utilizing Automation Tools Offering Convenient Payment Options Communicating Clearly and Promptly Providing Incentives for Early Payment Focusing on Customer Retention Training Your Collection Team Monitoring and Tracking Progress Seeking Feedback and Adapting Staying Compliant with Regulations Conclusion Introduction: In today’s fast-paced business environment, effective debt collection is crucial for maintaining healthy
American Profit Recovery
MAY 23, 2024
There are countless myths about debt collectors and the debt collection industry as a whole. Debt collections in many circumstances can be a complex situation for both the business trying to recover money and the consumer trying to navigate financial difficulty. If we go back to the nightly news programs of past, many of us remember the segments that only focused on some negative behavior of a chosen few working in the industry.
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.
Jimerson Firm
MAY 23, 2024
by A. Hunter Faulkner and Maxwell A. Salain With a major hurricane making landfall somewhere in Florida on nearly an annual basis over the past several years, Florida’s property insurance market is in turmoil. Many carriers have left the state and those carriers still willing to write policies in the state have drastically increased the cost of their annual premiums.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
MAY 24, 2024
A Magistrate Court judge in Colorado has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case on the grounds that it was entitled to the “bona fide error” defense after it was accused of misrepresenting the debt that the plaintiff owed.
Consumer Finance
MAY 21, 2024
The Consumer Financial Protection Bureau (CFPB) today issued an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers.
Hudson Weir
MAY 24, 2024
In this guide we’ll explain how SEIS and EIS loss relief works if a company you invest in becomes insolvent or enters liquidation. In the tax year 2021-22, there was record interest in the EIS scheme. Nearly 5,000 firms raised a total of £2.3bn in funds under the EIS scheme, according to government statistics. There are several tax incentives that appeal to investors with these two schemes – for example, EIS deferral relief and SEIS tax relief.
Jimerson Firm
MAY 24, 2024
In a significant move aimed at enhancing the efficiency and effectiveness of civil litigation, the Florida Supreme Court has issued two [1] separate [2] per curiam opinions introducing substantial amendments to the Florida Rules of Civil Procedure (the “Rules”). Set to take effect on January 1, 2025, these changes are designed to streamline case management, encourage cooperation among parties, and, ultimately, expedite the resolution of civil disputes.
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Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.
Account Recovery
MAY 24, 2024
Collector Sued for Not Believing Debt Was Paid Judge Grants MSJ For Defendant in FDCPA Bona Fide Error Case Minnesota Governor Signs Medical Debt Fairness Act Into Law Agency Receives Temporary C&D For Collecting in Connecticut Without License WORTH NOTING: Expect more traffic and bad weather if you are hitting the roads for Memorial Day […]
Consumer Finance
MAY 19, 2024
The CFPB took action against Western Benefits Group for charging illegal advance fees for student loan debt relief services and misrepresenting to consumers that advance fees would go toward paying down their loans.
Price Meese
MAY 22, 2024
Price Meese Shulman & D’Arminio, P.C. is proud to announce that founding partner, Greg Meese, has been elected President of the New Jersey Wireless Association (NJWA). NJWA is a non-profit professional organization dedicated to making the public and elected officials aware of the positive social and economic benefits of the wireless communications industry.
Burr Forman
MAY 22, 2024
In Smith v. Spizzirri , 2024 WL 2193872 (U.S. May 16, 2024), the United States Supreme Court issued a ruling holding that courts must stay, rather than dismiss, cases that are subject to arbitration. The unanimous decision resolves a circuit split on the issue and has far-reaching implications on the continued role of courts in cases subject to arbitration.
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
MAY 23, 2024
Getting to Know Patricia Quezada of Progressive Management Systems Judge Denies MTD in FDCPA Case Over Unlawful Subpoena CFPB Issues Rule to Treat BNPL Like Credit Cards Truecaller to Allow Customers to Have AI Answer Calls in Their Own Voice WORTH NOTING: The number of kids being diagnosed with ADHD is on the rise … […]
Consumer Finance
MAY 21, 2024
CFPB Director Rohit Chopra delivered prepared remarks on an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers.
Price Meese
MAY 21, 2024
Price Meese partner, Thomas C. Martin, Esq., a member of the Executive Committee of the Transportation Lawyers Association, recently attended its Annual Conference which addressed a multitude of transportation-related topics such as freight cargo damage, casualty claims, insurance, technology and the growing impact of AI in the transportation field.
Qualco
MAY 20, 2024
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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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.
Account Recovery
MAY 23, 2024
The Consumer Financial Protection Bureau yesterday issued an interpretive rule to ensure that Buy Now, Pay Later lenders adhere to the same consumer protections as traditional credit card issuers. This significant move mandates that BNPL lenders provide key protections, including the ability for consumers to dispute charges and receive refunds.
Consumer Finance
MAY 19, 2024
La CFPB tomó acciones contra Western Benefits Group por cobrar tarifas por adelantado ilegales y por mentirles a los consumidores diciéndoles que esas tarifas irían hacia el pago de sus préstamos.
Jimerson Firm
MAY 23, 2024
Featured in the May 2024 Issue: Partner’s Perspective: The Power of Motivation in the Workplace High performance and personal satisfaction. In a utopian workplace, those factors are completely aligned—one feeding the other—as high achievers derive great satisfaction in a job well done, the fulfilled achiever continues to seek greatness for its own sake.
Collection Industry News
MAY 22, 2024
Last week, the average interest rate on 10-year fixed-rate private student loans increased. Overall, rates remain fairly low, making private student loan a worthwhile option for borrowers looking to make up a gap in college funding. From May 13 to May 18, the average fixed interest rate on a 10-year private student loan was 8.57% for borrowers with a credit score of 720 or higher who prequalified on Credible.com’s student loan marketplace.
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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.
Account Recovery
MAY 23, 2024
Truecaller, which bills itself as the world’s best Caller ID and Spam Blocking app has announced that its customers can now use an AI-powered voice assistant to answer calls in their own voice.
Consumer Finance
MAY 21, 2024
La CFPB emitió una interpretación de normativa que confirma que los prestamistas Compre Hoy y Pague Luego son emisores de tarjetas de crédito.
Burr Forman
MAY 21, 2024
Last Thursday, the Supreme Court upheld the Congressional funding mechanism used to fund the Consumer Financial Protection Bureau (CFPB), overruling a Fifth Circuit decision that found the funding mechanism violated the Constitution’s Appropriations Clause. Cons. Fin. Prot. Bureau et al. v. Cmty. Fin. Servs. Ass. of Am., Ltd., 601 U. S. _ (2024).
Collection Industry News
MAY 19, 2024
NEW YORK — The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows total household debt increased by $184 billion (1.1%) in the first quarter of 2024, to $17.69 trillion. The report is based on data from the New York Fed’s nationally representative Consumer Credit Panel.
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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