Account Recovery

NOVEMBER 8, 2024

Personal and business bankruptcy filings in the U.S. have risen significantly, reflecting the impact of inflation, rising interest rates, and the end of COVID relief programs. This trend provides important insights for professionals in the credit and collection industry as they assess the financial health of consumers and businesses. By the numbers: According to the Administrative Office of the U.S.

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Bankruptcy Collection Agencies Collections Agency Collections 130

Qualco

NOVEMBER 5, 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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Loans Credit Management Creditors Government 98

Consumer Finance

NOVEMBER 6, 2024

The CFPB took action against Navy Federal Credit Union for charging illegal overdraft fees.

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Credit Unions Credit Unions Banks 145

Burt and Associates

NOVEMBER 5, 2024

Late payments and past-due accounts can weigh down a business, impacting cash flow, operational efficiency, and overall growth. But how can business owners and financial managers spot these accounts early, understand the reasons behind delinquencies, and take proactive steps? Here’s a practical guide with tips and warning signs that can help you safeguard your accounts receivable and keep your financial health in check. 1.

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Collection Agencies Collections Agency Collections Debt Recovery 52

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

Account Recovery

NOVEMBER 5, 2024

The Federal Trade Commission has filed a lawsuit and received a temporary restraining order freezing the assets and taking control over a Georgia-based debt collection agency, Global Circulation, Inc., after it was accused of using deceptive and abusive tactics to collect debts from consumers. The complaint, filed in the District Court for the Northern District of Georgia, alleges that the agency tricked consumers into paying more than $7.6 million by falsely representing debts and threatening e

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Debt collector Fair Debt Collection Collection Agencies Collections Agency 130

Prosperity Now

NOVEMBER 5, 2024

Prosperity Now recently hosted the "Tax Truths: Boosting Financial Well-being for LMI Communities through Accessible Tax Support" webinar in partnership with Change Machine.

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BN Lawyers

NOVEMBER 5, 2024

Here’s the latest risk management guidance, published in October 2024, from B&N’s Attorneys Risk Management practice group. BN – Tip of the Month – ABA Standing Committee LPL Releases Profile of Legal Mal Claims – October 2024 The post Barron & Newburger’s Latest Risk Management Guidance appeared first on Barron & Newburger, P.C.

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Account Recovery

NOVEMBER 4, 2024

Before diving into the details, I originally decided to write about this ruling because I thought it would be helpful to detail the lengths to which the scammer went in this situation and how it’s not always the uneducated or unsophisticated who get taken advantage of. But on top of that, there is a Fair Debt Collection Practices Act angle to the case, too.

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Credit Unions Credit Unions Fair Debt Collection Loans 130

Enterprise Recovery

NOVEMBER 8, 2024

As the new year approaches, businesses often must adjust their rates. These changes could be driven by factors such as inflation, increased operational costs, or the need to invest in new technologies and services. For B2B companies and SaaS providers, staying competitive and maintaining high service standards often require periodic rate evaluations.

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Client Expectations 207

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.

UK debt collections

NOVEMBER 4, 2024

New research has shown that debt collectors are breaching national standards in 6% of visits to individuals facing enforcement. The study into doorstep interactions in civil enforcement – published by the Enforcement Conduct Board (ECB) – found a noticeable area in which the standards are least commonly met is in acknowledging and taking into account self-identified or obvious vulnerability.

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Collections Debt collector 100

Qualco

NOVEMBER 4, 2024

As the financial sector rapidly evolves, driven by technological advancements, loan origination processes are experiencing profound changes. A key development is the growing adoption of Loan Origination Systems (LOS), which have become essential tools for financial institutions. According to recent forecasts from Future Market Insights , the global loan origination software industry is projected to grow at a CAGR of 13.4% from 2023 to 2033, reaching a market size of US$ 17,505.7 million by 2033.

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Loans Financial Institution Lender Creditworthiness 98

Account Recovery

NOVEMBER 7, 2024

A class-action lawsuit has been filed this week against a collection agency after it was the victim of a ransomware attack and data breach. The breach, which occurred in June 2024, involved unauthorized access by cybercriminals who targeted the defendant’s computer systems using ransomware, specifically a threat actor known as “Play.” The breach was not detected until August, and affected individuals were notified last month.

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Healthcare Collection Agencies Collections Agency Collections 130

FFGN COLLECT NY

NOVEMBER 6, 2024

Looking to domesticate a judgment based on an out-of-state arbitration award in New York? The process will differ depending on whether the debtor appeared during the confirmation process. New York differentiates judgments obtained by default from those obtained on the merits. If your judgment debtor participated in the underlying arbitration but failed to appear or oppose your application to confirm the arbitration award—so that the judgment was rendered by default—you will need to sue in New Yo

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Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

UK debt collections

NOVEMBER 5, 2024

The number of Welsh companies with overdue invoices on their books reached a 2024 high in September, according to new research from R3, the UK’s insolvency and restructuring trade body. Analysis of data provided by Creditsafe shows that 18,360 Welsh businesses had unpaid invoices on their books last month – the highest monthly total of the year so far.

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Trade 98

The Kaplan Group

NOVEMBER 5, 2024

In recent years, side hustles have gained significant traction as individuals seek additional income streams and entrepreneurial opportunities. A new study by The Kaplan Group examines search trends for various side hustles, the challenges associated with starting these ventures, and the geographic distribution of new business applications across the United States.

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Account Recovery

NOVEMBER 8, 2024

The Court of Appeals for the Ninth Circuit has affirmed a ruling in favor of a credit reporting agency sued for violating the Fair Credit Reporting Act but overturned a ruling in favor of a collection operation for allegedly violating the Fair Debt Collection Practices Act on the grounds of whether the plaintiff actually owed the debt to the creditor — a hospital.

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Fair Debt Collection Collection Agencies Collections Agency Judgment 130

BN Lawyers

NOVEMBER 8, 2024

Barron & Newburger, P.C. is pleased to announce the selection of five of its attorneys for Super Lawyers Magazine to its Super Lawyers and Rising Stars Lists for 2024 by Thompson Reuters: Francesca Di Troia — Rising Star in Civil Litigation in 2023 and 2024. Noah Fiedler – Super Lawyer in Professional Liability since 2022 Alyssa Johnson – Super Lawyer in Professional Liability, Creditor Debtor Rights, Civil Litigation since 2023, Rising Star from 2017-2022.

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Speaker: Alex Salazar, CEO & Co-Founder @ Arcade | Nate Barbettini, Founding Engineer @ Arcade | Tony Karrer, Founder & CTO @ Aggregage

There’s a lot of noise surrounding the ability of AI agents to connect to your tools, systems and data. But building an AI application into a reliable, secure workflow agent isn’t as simple as plugging in an API. As an engineering leader, it can be challenging to make sense of this evolving landscape, but agent tooling provides such high value that it’s critical we figure out how to move forward.

Collection Industry News

NOVEMBER 6, 2024

Nearly a third, 30%, of federal student loan borrowers say they’ve gone without food, medicine or other necessities because of their monthly bills. That grim finding comes from a new survey by the Consumer Financial Protection Bureau, conducted between October 2023 and January 2024, and including more than 3,000 responses from people with an active or recently active student loan account.

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Student Loans Student loans Loans Education 40

Account Recovery

NOVEMBER 6, 2024

62% of Americans are now living paycheck to paycheck, according to recent research from PYMNTS Intelligence, highlighting a stark reality for many consumers today. For those living on the edge financially, every pay period is just enough to make it to the next — leaving them highly vulnerable to unexpected expenses. Why it matters: Paycheck-to-paycheck households are increasingly reliant on revolving credit and are carrying higher outstanding balances compared to financially stable consumers.

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Account Recovery

NOVEMBER 6, 2024

A District Court judge in Florida has been forced to rule on competing motions for attorney’s fees in a Fair Debt Collection Practices Act case in which both sides are claiming victory, ruling partially in favor of both the plaintiff and the defendant. The judge decided that the plaintiff is entitled to recover some attorney’s fees, while the defendants are also entitled to recover some costs, but only after a particular offer of settlement was made.

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Fair Debt Collection Consumer Collections Collections 130

Account Recovery

NOVEMBER 7, 2024

A District Court judge in North Carolina has denied a defendant’s motion to dismiss a Fair Credit Reporting Act suit, ruling the plaintiff’s inability to subsequently get approved for an apartment sufficient for her to have standing, and questioned the defendant’s dispute investigation process is enough to keep the case alive. The background: The case centers on an alleged misreporting of a debt that the plaintiff never incurred.

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Collection Agencies Collections Agency Collections 130

Speaker: Joe Wroblewski, Senior Sales Engineer

Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!

Account Recovery

NOVEMBER 6, 2024

Strategic hire brings fresh perspective and deep industry expertise to accelerate InDebted’s AI-powered transformation of collections. InDebted, the global third party collections solution for future-thinking organizations, today announced the appointment of Kristyn Leffler as Chief Product Officer. Leffler joins InDebted from one of the nation’s largest debt buyers, where she developed innovative, data-driven collections strategies.

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Account Recovery

NOVEMBER 4, 2024

For the second time in less than a month, ACA International has filed a lawsuit, this time accusing the Consumer Financial Protection Bureau of an “overtly political act” and overstepping its authority by issuing a rule couched in its October 1 Advisory Opinion related to the collection of medical debt. The complaint, filed in the District Court for the District of Columbia, takes aim at new requirements introduced by the CFPB that ACA International claims fundamentally change how me

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Account Recovery

NOVEMBER 8, 2024

The Consumer Financial Protection Bureau yesterday announced an enforcement action with one of the nation’s largest credit unions for charging illegal overdraft fees that will see the institution pay $95 million in fines and restitution to members. Driving the news: Navy Federal Credit Union has been ordered by the CFPB to refund more than $80 million to consumers and pay a $15 million civil penalty for charging illegal overdraft fees on checking accounts from 2017 to 2022.

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Account Recovery

NOVEMBER 8, 2024

EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call (855) WEB-RECON or email admin@webrecon.net today!

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Law Firms Collections Fair Debt Collection 130

Speaker: Cheryl J. Muldrew-McMurtry

Remote finance teams are rewriting how the back-office runs—and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats have become more than just “growing pains”. They’re now liabilities. The challenge isn’t just team distribution, but building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.