Sat.Aug 28, 2021 - Fri.Sep 03, 2021

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D.C. Mayor Signs Collection Bill Into Law

Account Recovery

Muriel Bowser, the Mayor of Washington, D.C., has signed into law a bill that overhauls how debts can be collected in the nation’s capital for 225 days starting later this month, while the authors of the legislation work on permanent changes. This information was first reported by ACA International. A copy of the law is … The post D.C. Mayor Signs Collection Bill Into Law appeared first on AccountsRecovery.net.

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How to Respond to Delinquent Customer Excuses for Late Payments

Enterprise Recovery

When your customer accounts become delinquent, they may have a number of reasons for not paying on time. Some of these excuses may be perfectly reasonable and others, not so much. If your in-house accounts receivable or collections department is fielding some of these excuses, here are some tips on how to handle them. Here's how to respond to delinquent customer excuses for late payments.

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How Video Games Can Level Up Kids’ Money Skills

Nerd Wallet

Every few days, my 8-year-old son, Neal, asks if he can “earn something” on Roblox, a popular online video game platform. That’s his way of suggesting I buy him Robux, the platform’s currency, in exchange for him doing a chore or extra academic assignment. While I usually decline these requests, his persistence made me wonder. Kimberly Palmer writes for NerdWallet.

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Cybersecurity Panel: Protecting Your Business from a Ransomware Attack

Jimerson Firm

In preparing to protect your business from a ransomware attack, who is the best person to consult? A CEO and expert from a leading information technology company? A cyber insurance specialist who understands ransomware coverages for businesses? An investigator from the Florida Bureau of Criminal Investigations and Intelligence who investigates all reported ransomware crimes in North Florida?

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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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Conn. Regulator Fines Collector For Collecting Interest on One Account

Account Recovery

The Connecticut Department of Banking has fined a debt collector for collecting interest in violation of state law on one account during a 15-year period, in the latest in a series of enforcement actions taken against companies in the accounts receivable management industry. Resurgent Capital Services has agreed to pay a fine of $2,500 without … The post Conn.

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Tired of Your Big Bank? Consider These 4 Alternatives

Nerd Wallet

Checking account fees, minimal savings rates, impersonal customer support. The reasons you might choose to leave a big national bank vary, but where you go next might be a harder decision. Many of the biggest U.S. banks share many of the same benefits, including large networks of bank-owned branches and ATMs and robust mobile apps. Spencer Tierney writes for NerdWallet.

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Alabama District Court Dismisses FCRA Claim Based on Alleged Failure to Remove Dispute Notation

Burr Forman

The U.S. District Court for the Middle District of Alabama joined a growing number of courts dismissing FCRA claims based upon a furnisher’s alleged failure to remove an “account in dispute” notation from consumer credit reports. In Griffin v. Experian Information Solutions, Inc. , No. 1:20-cv-801-RAH-SMD, 2021 WL 3782141 (M.D. Ala. Aug. 26, 2021), the plaintiff had four accounts that were marked as “in dispute.

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Judge Grants MTD Over Offer of More Credit in Collection Letter

Account Recovery

Debt collectors are conduits — vessels trying to help original creditors recover unpaid debts. Oftentimes, the creditors will make requests or want certain offers included in letters sent to individuals. What happens when a creditor wants to make an offer as a means of trying to get an individual to repay a debt? … A … The post Judge Grants MTD Over Offer of More Credit in Collection Letter appeared first on AccountsRecovery.net.

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Ensuring Regulatory Compliance While Future-Proofing Your Collections Strategy

True Accord

Ensuring regulatory compliance in debt collection is a high stakes and increasingly complex process. As we know, the industry is constantly evolving and collections strategies must adapt. At the end of July, the Consumer Financial Protection Bureau (CFPB) announced that the final rules issued under the Fair Debt Collection Practices Act (FDCPA) will take effect as planned on November 30.

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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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Where to Turn When a Natural Disaster Upends Your Finances

Nerd Wallet

Natural disasters can upend lives in an instant, but unwinding the financial damage can take many months. Still, those affected have many sources of help. Here’s how you can get help and be strategic with your resources as you begin to rebuild after a disaster. Deal with immediate needs first First things first: Contact the. NerdWallet writes for NerdWallet.

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Why the CTC and Baby Bonds are Smart Investments in our Children

Prosperity Now

Congress, the American public, and even national news outlets continue to uplift the powerful impact that the expanded Child Tax

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California Legislature Passes Debt Collection Assignment Notification Bill

Account Recovery

The California legislature has approved SB 531, a measure that will require collectors to have proof they have authority to collect a debt prior to doing so, and gives consumers the right to request that proof and other basic information about the debt. The bill now heads to the desk of California Gov. Gavin Newsom … The post California Legislature Passes Debt Collection Assignment Notification Bill appeared first on AccountsRecovery.net.

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CFPB Proposes Rule to Shine New Light on Small Businesses’ Access to Credit

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today proposed a new rule designed to help small businesses gain access to the credit they need and deserve by increasing transparency in the lending marketplace.

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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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5 Ways Women Can Combat Investing Disadvantages

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. Women are paid less than men and are more likely to leave the workforce to take care of loved ones, both of which negatively impact the amount of money they.

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Dealing with Debt Collection in France

UK debt collections

A Five Step Process to Recovering your Debts in France. French debt collection agencies are particularly prevalent due to the country’s strong economic dependence on Small Businesses and Medium enterprises. Recovering business-to-business debts (B2B) takes on considerable importance for debt collection attorneys across France. Contracting out your debt collection affairs to a French third-party Agency will reinforce your chances at recovering your unpaid by limiting the potential for miscommunic

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Getting to Know Michael Zomcik of Rent Recovery Solutions

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 Michael Zomcik o

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Real Estate Investment Trusts (REIT): How Many Jobs Are Available?

Credit Corp

This article originally appeared on The Financially Independent Millennial and was republished with permission. In the US, REIT stands for Real Estate Investment Trusts. The real estate industry is booming, which is great news for real estate investment trusts as they grow further. Anyone seeking a career opportunity with a REIT company can enjoy hearing the news that there are plenty of jobs available.

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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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The Best Hotels That Allow Pets

Nerd Wallet

Are you the proud parent of a pandemic puppy or a quarantine kitty? Or maybe you’re a long-time pet owner. Taking your pet along on vacation will not only avoid pricey pet boarding, but can also ensure you don’t miss a day with your furry friend. But there’s a hard truth to swallow when traveling. Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com.

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Credit and Collection Industry RoundUp: 12 Books for Leadership and Personal Development

PDC Flow

It's impossible to measure how much a good book can influence one's life. Reading can help you relax, teach you a new skill or even impact your career. That's why we reached out to PDCflow customers and other Accounts Receivable industry professionals with one simple question: What book has influenced your professional development or helped you build your business?

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Daily Digest – August 30. Judge Denies Motion to Compel in FDCPA Class-Action; How Experts are Interpreting Latest Legal Rulings

Account Recovery

JUDGE DENIES MOTION TO COMPEL ARBITRATION OVER HOW ‘RECEIVABLE’ AND ‘ACCOUNT’ ARE DEFINED Synonyms and semantics can be deadly when in the hands of a federal judge. A defendant is learning that lesson the hard way after a District Court judge in New Jersey denied a defendant’s motion to compel arbitration in a Fair Debt … The post Daily Digest – August 30.

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Enforcement in 2021 – the new normal – A guest blog by High Court Enforcement Group

CICM

Some of the changes in the pandemic for credit management and enforcement were temporary and have started to fall away, but others remain, making the enforcement landscape indelibly altered. The first lockdown saw a moratorium on all residential judgment enforcement and landlord action. When enforcement restarted in August 2020, the Government, Public Health England and the High Court Enforcement Officers Association (HCEOA), placed additional requirements, as part of the return to enforcement s

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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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You Can Get Free Money for College — and Help Finding It

Nerd Wallet

If you’re considering going to college this fall — or next — there is one way to ensure you’re considered for as much free money as possible: by submitting the Free Application for Federal Student Aid, or FAFSA. Completing the FAFSA makes you eligible for federal, state and some school-based aid, including loans, scholarships and. Colin Beresford writes for NerdWallet.

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Can a Debt Collector Collect After 10 Years?

Credit Corp

Getting calls from debt collectors can be frustrating and even confusing. That’s even truer when someone is contacting you about an old debt you forgot about, thought was long resolved, or didn’t know about in the first place. But how long can someone chase you for money you might owe? Can a debt collector collect after 10 years, for example?

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Daily Digest – September 2. Getting to Know Michael Zomcik of Rent Recovery Solutions; Calif. Passes Debt Collection Assignment Notification Bill

Account Recovery

GETTING TO KNOW MICHAEL ZOMCIK OF RENT RECOVERY SOLUTIONS Michael Zomcik is one of those rare finds that you don’t often see out in the wild of the accounts receivable management industry — a newbie. Six months into his stint in the ARM industry, Michael is busy trying to soak up as much knowledge as … The post Daily Digest – September 2.

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30 Yr VS 15 Yr Mortgage Comparison: Which is Better?

Better Credit Blog

When it comes to the length of your mortgage, there is a fair amount of flexibility regarding term lengths, depending on which company you go with. By and large, 30-year terms and 15-year terms remain perennial favorites. But which mortgage term is the right one for you and your household? Well, that depends on your situation and financial goals. One of the most appealing aspects of a longer-term mortgage is that monthly payments tend to be lower, which makes it a more affordable option for many

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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.