Sat.Jan 15, 2022 - Fri.Jan 21, 2022

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5 tips for collecting on delinquent accounts

Collections Law

Though you always hope your customers will pay their bills on time, delinquent debtors are an unfortunate but normal part of doing business. You can take steps to protect yourself and your company, however. At Law Offices of Alan M. Cohen LLC, our experienced commercial collection attorneys have been helping businesses recover debt since 1994. We are familiar with every legal option you have in Massachusetts for collection and offer the following tips for collecting on delinquent accounts: Start

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2022: Key trends in accounts receivable and collections

Debtor Daddy

With the difficulties that 2020 and 2021 brought business, it’s clear that implementing smart technology will be a key priority for finance leaders across 2022. In this post, Debtor Daddy looks at five key trends we’re predicting in accounts collections this coming year. Increasing automation. In a recent survey PWC found that 68% of CFOs were planning to increase their investment in digital transformation in the next 12 months.

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Everyone here can relate to consumer struggles

American Profit Recovery

By Angela: A lot of what we do is simply understanding and reasoning with our consumers. We work hard to build rapport and keep relationships for our clients so that their consumers have a good experience with us. While some people have these pre-determined ideas of how we don’t understand nor care before calling us, the truth is we are everyday people, all facing similar battles.

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Appeals Court Reverses Dismissal of Class Action Over Online Convenience Fees

Account Recovery

EDITOR’S NOTE: The following was written by Ronald S. Canter and is being republished with his permission. On January 19, 2022, the Fourth Circuit Court of Appeals in Alexander v. Carrington Mortgage Services, LLC (Case No. 20-2359, 2022 WL 164018), reversed the dismissal of a class action filed by two Maryland borrowers claiming that the … The post Appeals Court Reverses Dismissal of Class Action Over Online Convenience Fees appeared first on AccountsRecovery.net.

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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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Is It Time To Update Your Credit, A/R or Collections Policies?

Enterprise Recovery

As part of setting up your accounts receivable department for success, it's important to define responsibilities, create job roles and policies to ensure things run smoothly. These roles and policies will include approving clients for credit, setting payment terms and approved methods of payment, invoicing procedures, and what to do if the client doesn't pay on time.

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Filing Taxes After Filing for Bankruptcy

Sawin & Shea

Filing your taxes and filing for bankruptcy are two things that can be confusing and challenging on their own. When you put the two together, it can cause debtors even more stress. However, understanding the basics and what to look out for can make the whole situation a lot easier. Filing your taxes after filing for bankruptcy is not as complicated as it may seem, and if you are still confused after doing some research, you can always reach out to a bankruptcy lawyer.

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IRS in ‘Crisis’ as 2022 Tax Season Set to Kick Off

Account Recovery

The Internal Revenue Service “is in crisis” after its most “challenging” year ever in 2021, writes the agency’s Taxpayer Advocate Office in its annual report to Congress, noting that the agency is processing more returns than ever while relying on software that is six decades old. The IRS is scheduled to start accepting returns on … The post IRS in ‘Crisis’ as 2022 Tax Season Set to Kick Off appeared first on AccountsRecovery.net.

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Consumer Financial Protection Bureau to Examine Colleges’ In-House Lending Practices

Consumer Finance

Today, the Consumer Financial Protection Bureau (CFPB) announced it will begin examining the operations of post-secondary schools, such as for-profit colleges, that extend private loans directly to students.

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Transcript Gaps? A Strong College Application Remains Possible

Nerd Wallet

Applying to college typically comes with some uncertainty, but this year’s applicants are tackling one additional question: What should you do when a pandemic has limited what goes into your college applications? Many extracurriculars, including sports and clubs, couldn’t go on during the pandemic. And many school districts across the country, recognizing the challenges the.

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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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How Is Credit Limit Determined?

Credit Corp

Credit limit plays an important role for millions of credit card users across the country. It’s a factor that influences credit card use and, by its role in determining credit utilization, your credit score as a whole. So understanding your credit limit and how a credit card issuer sets it is very important. But what exactly is a credit limit, and how is it determined by a credit card issuer?

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Groups File Amicus Briefs Supporting Preferred in Advance of En Banc Rehearing

Account Recovery

Five groups have filed amicus briefs with the Eleventh Circuit Court of Appeals in support of the defendant-appellee in Hunstein v. Preferred Management & Collection Services, each laying out their arguments why the Court should rule that the plaintiff-appellant does not have standing to sue in a Fair Debt Collection Practices Act case that alleges … The post Groups File Amicus Briefs Supporting Preferred in Advance of En Banc Rehearing appeared first on AccountsRecovery.net.

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CFPB Bans BrightSpeed Solutions and Its Former CEO for Supporting Telemarketing Scammers Targeting Older Americans

Consumer Finance

Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed final judgement and order with a federal district court that, if entered by the court, would resolve a March 2021 lawsuit brought by the CFPB against BrightSpeed Solutions and its founder Kevin Howard.

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The Property Line: Is It Time for a HELOC Comeback?

Nerd Wallet

Home equity lines of credit have declined for more than a decade. But HELOCs should make a turnaround in 2022 as mortgage rates rise to their highest levels since 2019. A home equity line of credit lets you borrow against your home’s equity. You can draw from it periodically and repay some or all of. Holden Lewis writes for NerdWallet. Email: hlewis@nerdwallet.com.

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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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Defending the right to be funny

Public Citizen

by Paul Alan Levy. Late last year, Harrison Greenbaum , a New York comedian and magician, included Christopher Nicholas Sarantakos, better known in the magician trade as Criss Angel , who is, apparently, a very well known magic act, in an annual satirical review that he offers of major figures in the magic trade. A particular point of this performance was a restaurant that Sarantakos opened in a rural area outside Las Vegas called Criss Angel Breakfast Lunch and Pizza, or CABLP.

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Appeals Court Affirms Ruling for Defendant in TCPA ATDS Case

Account Recovery

The Court of Appeals for the Ninth Circuit has affirmed a lower court’s ruling in favor of a defendant that was accused of violating the Telephone Consumer Protection Act by contacting the plaintiff using an automated telephone dialing system. A copy of the ruling in the case of Meier v. Allied Interstate can be accessed … The post Appeals Court Affirms Ruling for Defendant in TCPA ATDS Case appeared first on AccountsRecovery.net.

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PDCflow Earns G2 High Performer and Momentum Leader for Winter 2022

PDC Flow

Have you ever wondered what people who use software products really think about their tools? Now you can find out! PDCflow was recently given several awards from software review website G2 Crowd , based directly on customer feedback. With an overall rating of 4.7 out of 5, it’s safe to say our customers are happy about our payment communication software.

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Business Loan Broker: Do You Need One?

Nerd Wallet

Finding and applying for business financing can be time-consuming and complicated, especially if you don’t have much experience with the process. Business loan brokers can save you time, offer industry knowledge and hopefully help you get the best small-business loan offer. But they aren’t necessary for every business. Here’s what you need to know about business.

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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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Without the Extended Child Tax Credit Expansion, Families are Left Out in the Cold this Winter

Prosperity Now

On January 14, 36 million families, with 65 million children, should have received their seventh monthly Child Tax Credit (CTC)

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Daily Digest – January 21. Judge Grants MSJ for Defendant in FCRA Class Action; Appeals Court Overturns Dismissal of Convenience Fee Case

Account Recovery

JUDGE GRANTS MSJ FOR DEFENDANT IN FCRA CLASS OVER ACCESSING CREDIT REPORT WHEN COLLECTING ON DEBT In a case that was defended by David Schultz and the team at Hinshaw Culbertson, a District Court judge in Arizona has granted a defendant’s motion for summary judgment after it was accused in a class action of violating … The post Daily Digest – January 21.

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18 Steps to Reach Financial Freedom

Credit Corp

This article originally appeared on The Financially Independent Millennial and was republished with permission. Are you looking to become financially free in 2022? Who wouldn’t? This article covers the steps you can take to reach financial freedom. Achieving financial freedom is many peoples’ goal. Everyone wants to live the American dream with enough savings, investments, and cash on hand to afford the lifestyle they want to have.

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NerdWallet Smart Money Podcast Book Club

Nerd Wallet

Welcome to the Smart Money Podcast Book Club, where we talk with authors about personal finance books. First up is Bola Sokunbi, author of “Clever Girl Finance: Ditch Debt, Save Money and Build Real Wealth.” She shares how she learned about money from her mother, some of the early mistakes she made and her advice. Kimberly Palmer writes for NerdWallet.

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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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UK Business Insolvencies forecast to increase by 33%

UK debt collections

Brexit combined with the coronavirus pandemic has created a double-edged sword for businesses in the UK. It is claimed that its full-scale impact is yet to be fully realised with Economists from Atradius suggesting that UK Business insolvencies will rise by a staggering 33%. Only a recently as last week, UK Debt Collection experts were warning that Businesses need to act in the face of late payment.

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Conn. Regulator Yanks Agency’s License, Imposes $100k Fine For Not Responding to Examination Request

Account Recovery

The Connecticut Department of Banking has revoked a collection agency’s license to collect in the state, while also issuing an order to cease and desist from not cooperating with the regulator, and assessed a fine of $100,000 for failing to provide information that had been requested as part of an examination of the agency. A … The post Conn.

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What Happens To Directors Of A Dissolved Company?

Hudson Weir

In this article we’ll run through what happens to a director of a dissolved company, as well as how the circumstances can differ in comparison with liquidation cases. The dissolution of a company – also known as ‘striking off’ a business – is relatively common. More than 400,000 companies were dissolved between 2020 and 2021 according to the government.

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Smart Money Podcast: Making Your Dream Life

Nerd Wallet

Welcome to NerdWallet’s Smart Money podcast, where we usually answer your real-world money questions. In this week’s episode, we continue our series about financial dreams, with conversations with Nerds who have accomplished their financial dreams and interviews with outside guests about what they want to do with their money in 2022. Check out this episode on.

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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.