The Kaplan Group

FEBRUARY 4, 2025

The debt collection industry is undergoing a transformative shift, driven by the rapid advancements in artificial intelligence (AI) technology. A new study by The Kaplan Group explores the impact of AI on debt collection, highlighting the key market trends, technological innovations, and operational benefits. Key Takeaway The AI debt collection market is projected to grow at a CAGR of 16.9%, reaching $15.9 billion by 2034.

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Account Recovery

FEBRUARY 5, 2025

📈 By the numbers: Total bankruptcy filings jumped 14.2% in 2024, continuing a multi-year rebound after more than a decade of decline. The 517,308 total filings for the year ending December 31, 2024, represent a significant increase from 452,990 in 2023, according to the Administrative Office of the U.S. Courts. This marks the highest volume of annual bankruptcy filings since 2020, though filings remain well below the post-Great Recession peak of 1.6 million in 2010.

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Enterprise Recovery

FEBRUARY 7, 2025

It can be easy to get frustrated and make assumptions about why your invoices aren't being paid on time. The problem is that your frustration doesn't solve or prevent the situation from happening. After years of recovering delinquent debt for B2B clients, we've identified many reasons behind late or unpaid invoices. Read on to discover the reasons behind unpaid invoices and how to tackle them effectively.

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In the Red

FEBRUARY 5, 2025

An official notice from the Judicial Conference of the United States was just published announcing that certain dollar amounts in the Bankruptcy Code will be adjusted upward by 13.2004%, perhaps the largest increase to date. Inflation adjustments are made to certain Bankruptcy Code dollar amounts every three years, and these new amounts will apply to cases filed on or after April 1, 2025.

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Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

Consumer Finance Watch

FEBRUARY 7, 2025

Cheryl S. Chang and Jessica A. McElroy AB 238, also referred to as the Mortgage Deferment Act, to add Title 19.1 3273.20 et seq. (the Mortgage Deferment Act or the Act), was introduced in the California legislature on January 13, 2025, … Continue reading → The post AB 238 Mortgage Deferment Act for California Wildfire: Mortgage Forbearance Relief appeared first on Consumer Finance Watch.

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True Accord

FEBRUARY 6, 2025

With consumer preferences leaning more and more towards digital communications, it can be easy to consider call centers for debt collection as a thing of the past. In fact, the first prediction of call center demise came in the year 2000 Death of the Call Centerbut dont completely cross off calling to recoup delinquent funds. Phone calls serve a valuable purpose in a fully omnichannel approach, in more ways than you may think The Differences Between Outbound vs Inbound CallingAnd Why Both Are Cr

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In the Red

FEBRUARY 5, 2025

An official notice from the Judicial Conference of the United States was just published announcing that certain dollar amounts in the Bankruptcy Code will be adjusted upward by 13.2004%, perhaps the largest increase to date. Inflation adjustments are made to certain Bankruptcy Code dollar amounts every three years, and these new amounts will apply to cases filed on or after April 1, 2025.

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Qualco

FEBRUARY 6, 2025

Islamic Supply Chain Finance (ISCF) is not just a financial modelits a values-driven approach that addresses key Islamic Supply Chain Finance challenges while prioritising fairness, transparency, and sustainability. With the global ISCF market projected to reach $6.67 trillion by 2027 , businesses worldwide are increasingly adopting this transformative system to align with ethical principles and operational efficiency.

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Account Recovery

FEBRUARY 7, 2025

While middle-income Americans are seeing a slight improvement in purchasing power, they remain deeply concerned about the cost of living and their financial outlook, according to data released recently as part of Primericas Financial Security Monitor. Key Trends: Overall, while some signs of economic improvement are present, middle-income Americans are still feeling significant financial strain.

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Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

Jimerson Firm

FEBRUARY 5, 2025

Jimerson Birr is pleased to welcome Jessica Skoglund Mazariego to the firm, bringing her extensive experience in complex commercial and real estate litigation. Known for her strategic advocacy and collaborative client partnerships, Mazariego specializes in business and real estate disputes, including breach of contract, fraud, trade secrets, and manufacturing and distribution matters.

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McLane

FEBRUARY 3, 2025

This Order is offered for educational purposes only. References to law and rules may not be current or accurate. Counsel must evaluate whether the Order has utility in a given case. Download Photo: RawPixel.

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Collection Industry News

FEBRUARY 6, 2025

Today, the U.S. Department of Education cancelled over $350 million in contracts and grants to several Regional Educational Laboratories and Equity Assistance Centers. The Department terminated 10 contracts totaling $336 million with the Regional Educational Laboratories, the purpose of which are supposed to support applied research, development, and technical assistance activities; however, review of the contracts uncovered wasteful and ideologically driven spending not in the interest of stude

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Account Recovery

FEBRUARY 6, 2025

A defendant in a Fair Credit Reporting Act case has filed a motion for sanctions against the plaintiff, accusing her of doctoring bank statements to make it appear that she did not receive the funds or make payments on the debt in question, attempting to prove her claim that she was the victim of identity theft. The background: The plaintiff filed the lawsuit in the District Court for the Northern District of Florida last April.

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Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

Collections

Jimerson Firm

FEBRUARY 4, 2025

Jimerson Birr, a Florida-based business law firm, is pleased to announce that Kimberly Killian Law has joined the firm as Group Lead in Banking & Finance , Insurance, Franchising, and Technology Transactional & Corporate Work. Ms. Law brings over a decade of experience as an in-house attorney for major insurance companies and a strong background in commercial litigation to her new role.

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Burt and Associates

FEBRUARY 3, 2025

The Growing Burden of Small Business Debt Small businesses are the backbone of the U.S. economy, making up 99.9% of all businesses and employing nearly half of the private workforce. However, maintaining financial stability remains a major challenge. According to the Global Findex Database 2021 , small business debt has continued to rise due to economic uncertainty, high-interest rates, and cash flow constraints.

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Collection Industry News

FEBRUARY 4, 2025

The post Collection Certifications Ads appeared first on Collection Industry News.

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Account Recovery

FEBRUARY 5, 2025

The Court of Appeals for the Eleventh Circuit has affirmed a lower court’s ruling for the plaintiffs in a Fair Debt Collection Practices Act case over convenience fees, ruling loan servicers are prohibited from charging anything not expressly authorized by the underlying agreement or permitted by law. This decision clarifies a critical issue in the credit and collection industry whether loan servicers acting as debt collectors can impose pay-to-pay or convenience fees on consumers for exp

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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. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

Banks

NCBA Law Practice Management Blog

FEBRUARY 2, 2025

You know, the quickest way to make more money, might be to simply collect what youre already owed. The average law firm collection percentage is in the low to mid-70s, which is a pretty significant haircut to take. And, if folks have told you that anything owed for more than 30 days is essentially uncollectible , thats not necessarily true. The real reason law firms dont collect accounts receivable is because they dont really try.

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Jimerson Firm

FEBRUARY 3, 2025

Social media has fundamentally transformed how legal cases unfold in modern courtrooms, creating both opportunities and challenges for law enforcement, attorneys, and the justice system. From criminal investigations to civil litigation, platforms like Facebook, Instagram, and Twitter have become invaluable sources of evidence while simultaneously raising new questions about privacy, authenticity, and admissibility.

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Consumer Finance

FEBRUARY 2, 2025

On January 31, 2025, President Trump designated Secretary of the Treasury Scott Bessent as Acting Director of the Consumer Financial Protection Bureau (CFPB).

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Account Recovery

FEBRUARY 5, 2025

A Utah lawmaker has introduced a bill that would prevent surviving spouses from being held responsible for their deceased partners medical debt. Driving the news: State Sen. Stephanie Pitcher [D-Salt Lake City] is sponsoring legislation, S.B. 175, that would amend Utahs existing statutes on family expenses, removing medical bills from the list of debts that spouses are jointly responsible for.

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Collections Agency

NCBA Law Practice Management Blog

FEBRUARY 2, 2025

Most lawyers derive the most (and their best) referrals from in-person networking, with other business professionals. Generally speaking, networking is something that business professionals (including lawyers) do naturally; and so, networking is usually not something that attorneys build a strategy around. But, you can; and, it makes your networking far more effective.

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FFGN COLLECT NY

FEBRUARY 2, 2025

In addition to state and local laws, debt collectors must comply with federal laws. Each administration comes with changes, and it’s anticipated that the Trump administration will change federal debt collection laws. Federal laws currently regulating debt collection include oversight of banking regulations, regulation of lenders, statutory limitations on the behavior and actions of debt collectors, protection of consumers, and more.

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Debt collector Collections Fair Debt Collection Debtor 52

Burt and Associates

FEBRUARY 4, 2025

In 2025, small businesses are navigating an increasingly complex financial landscape marked by economic uncertainty, evolving trade policies, and fluctuating market conditions. Understanding the interplay between these factors is crucial for maintaining financial stability and ensuring long-term success. Economic Uncertainty and Its Impact on Small Business Debt Economic uncertainty remains a significant concern for small business owners in 2025.

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Account Recovery

FEBRUARY 7, 2025

Collection Operation Accused of Making More than 200 Calls After Receiving Cease Request Judge Grants MSJ for Plaintiff in FDCPA Case Over Garnishment Order Court Grants 90-Day Delay of CFPBs Medical Debt Credit Reporting Rule Middle-Income Americans Struggling to Keep Up with Cost of Living, Despite Modest Improvement in Purchasing Power ImpactAI Solutions, a Division of CSS IMPACT, Unveils Groundbreaking Interactive Voice AI Smart Collectors to Transform Debt Collection WORTH NOTING: How much

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Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.