Collect More
AUGUST 14, 2022
When chasing payment, there are generally 5 contact methods used. They are: – The phone. – Personal visit. – SMS. – Letter. – Email. These are the big 5 and whilst there are others like Facebook messaging etc, you will almost always use one or a combination of these. Whilst doing nothing could still you get paid, you’re relying on someone else to remember to do something, so it’s never recommended.
Nerd Wallet
AUGUST 17, 2022
Rising prices (i.e., inflation) are everywhere you look — on the news, at the pump and in the grocery store. We notice these changes when we reach for our wallets, but it’s difficult to grasp what an extra dollar here or several dollars there mean over the course of several weeks, months or an entire. Elizabeth Renter writes for NerdWallet. Email: elizabeth@nerdwallet.com.
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Taurus Collect
AUGUST 19, 2022
Recovering money that customers owe your organisation – known as commercial debt collection is an inevitable part of every business. However, it does not have to be complicated or stressful for business owners. One of the effective ways to ensure a consistent stream of revenues is to strengthen your debt collection game. This also equips you to protect your business from any liabilities or losses.
Account Recovery
AUGUST 19, 2022
I don’t know if the dance that defendants in Fair Debt Collection Practices Act cases have to do around the issue of standing is a tap dance or more of a soft-shoe number, but there is definitely some graceful movements that are required. One defendant is being required to pay for trying to remove an … The post Judge Grants Motion to Remand FDCPA Class Action Back to State Court, Orders Defendant to Pay Attorneys’ Fees appeared first on AccountsRecovery.net.
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.
Enterprise Recovery
AUGUST 19, 2022
As a business owner or accounts receivable specialist, you may have some fear around sending an account to a debt collections company. For one thing, you're entrusting a third party with your client relationship and your money and facing potentially unexpected costs. You may also have heard some really bad things about debt collections. Enterprise Collections LLC has been helping our clients recover debts for years, and we're happy to answer questions and ease any uncertainty.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Nerd Wallet
AUGUST 18, 2022
Selling a home these days isn’t as effortless as a year ago, when a seller could choose among competing buyers. “Overall, I’d say the buying/selling experience right now is comparable to the summer of 2019,” Dana Bull, a Realtor in the Boston area, said in an email. Today, “there’s still low inventory and it’s a. Holden Lewis writes for NerdWallet. Email: hlewis@nerdwallet.com.
Account Recovery
AUGUST 19, 2022
A defendant has filed a motion to dismiss a Fair Debt Collection Practices Act class-action lawsuit, arguing that the plaintiff does not have standing to sue because she did not suffer any damages when she received a collection letter offering to settle the debt for less than the full amount owed because she did not … The post Defendant Files MTD in FDCPA Class Action Over Settlement Offer in Letter appeared first on AccountsRecovery.net.
Sawin & Shea
AUGUST 17, 2022
There are two primary types of bankruptcies that a person might file when struggling to pay their debts: Chapter 7 and Chapter 13. In a Chapter 13 bankruptcy , the debtor agrees to a payment plan instead of having their property taken to pay creditors. In contrast, in a Chapter 7 bankruptcy , the bankruptcy trustee will often use property to help pay off creditors before the remaining debt gets discharged.
UK debt collections
AUGUST 16, 2022
The number of businesses in critical distress has increased by 37% in the past year. This is according to financial data from insolvency specialists Begbies Traynor. The latest Begbies Traynor Red Flag Alert report has revealed the financial strain continuing to be faced by thousands of British businesses. The research found that the number of companies rated as being in “critical financial distress” continued to rise, jumping by more than a third in Q2 2022 compared with the same period last ye
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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.
Nerd Wallet
AUGUST 18, 2022
The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Those of us who write and talk about money for a living tend to have our financial acts together. Liz Weston, CFP® writes for NerdWallet.
Account Recovery
AUGUST 18, 2022
GETTING TO KNOW ROXIE OLIVERO-WINFIELD OF MIDSTATE COLLECTION SOLUTIONS Continuous productivity sounds like a setting for a robot, but it’s how Roxie Olivero-Winfield describes her typical work day. While that is a lofty goal that everyone should aspire to, it takes a special kind of person to be able to pull it off. Someone, for … The post Daily Digest – August 18.
Prosperity Now
AUGUST 16, 2022
Over the past couple of years, especially during the COVID-19 pandemic, the connections between health and wealth have become more
Fraser
AUGUST 19, 2022
Insurance Agents Who Make a Material Error on Policy Application Now May be Liable after Michigan Court of Appeals Ruling. On August 4, 2022, the Michigan Court of Appeals ruled in Holman v. Farm Bureau Gen. Ins. Co. of Michigan, No. 357473, that an insurance agent who makes a material error on a policy application may be liable. Why it Matters: This case concerns the scope of an agent’s duty in preparing a policy application for a customer, and makes clear that an agent can be held liable
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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.
Nerd Wallet
AUGUST 17, 2022
As a parent, grandparent or legal guardian, buying life insurance for children is one way to guarantee coverage for them later in life. Our list of the best life insurance for kids includes companies that offer standalone life insurance policies for children — not riders, which tend to expire when the child becomes an adult. Katia Iervasi writes for NerdWallet.
Account Recovery
AUGUST 18, 2022
A mortgage servicer will pay $3.2 million in fines and restitution to settle an enforcement action with the Attorney General of Massachusetts, which accused the company of engaging in unfair and deceptive conduct by “harassing” individuals with excessive debt collection calls, among other claims. A copy of the assurance of discontinuance in the action against … The post Servicer to Pay $3.2M to Settle Action with Mass.
PBWT
AUGUST 16, 2022
The owners of an ambitious Hawaiian golf project in the Makaha Valley of Oahu said Aloha (hello) to new owners, and Aloha (goodbye) to old debt obligations. In an adversary proceeding, the collective owners of the Makaha Valley Country Club , golf courses, surrounding undeveloped land, and other related assets (the “Owners”) avoided obligations undertaken in connection with a loan extension provided by Tianjin Dinghui Hongjun Equity Investment Partnership (the “Lenders”).
UK debt collections
AUGUST 18, 2022
The owner of Madame Tussauds and London Dungeons has been slapped with a winding up petition by Experian. Merlin Entertainments, which owns theme parks such as Alton Towers and Legoland as well as some of London’s top cultural destinations, faces proceedings due to a dispute over a unpaid business debt. A winding up petition sees unpaid creditors take legal debt collection action against a company owing unpaid business debts.
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?
Nerd Wallet
AUGUST 17, 2022
The annual cost of owning and operating a new car ballooned nearly 11% in the past year to $10,728 — or $894 per month — according to AAA’s Your Driving Costs study. That represents a considerable hike from 2021, when it cost an estimated $9,666, or $805 per month, to own a new car. Costs. Cara Smith writes for NerdWallet. Email: cara.smith@nerdwallet.com.
Account Recovery
AUGUST 19, 2022
The Colorado Attorney General’s office has sent a memo to licensed collection agencies in the state, making sure they are aware that a new law is going into effect on September 1 that will change how medical debts are collected in certain situations. A copy of the entire memo can be accessed by clicking here. … The post Colorado AG Publishes Memo Detailing New Medical Collection Requirements appeared first on AccountsRecovery.net.
Troutman Sanders
AUGUST 19, 2022
On August 15, the Federal Reserve Board (Fed) issued final guidelines, outlining the tiered approach it will use when evaluating the growing requests from fintech firms and cryptocurrency companies for access to master accounts. The guidelines make clear that while requests from institutions with federal deposit insurance will be subject to a streamlined review, institutions that engage in novel activities, such as cryptocurrency, will undergo a far more extensive one.
UK debt collections
AUGUST 18, 2022
In a recent podcast , The Small Business Commissioner, Liz Barclay, issued a warning that without confidence in cash flow, the UK’s small and micro businesses would be restricted from investing in new jobs, equipment and training or risk shutting shop. During the conversation with Saltare CEO, Anthony Persse, Liz Barclay raised the issue of late payments hindering small and micro businesses, because often they’re forced to stretch funds if invoices are delayed or paid late.
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?
Nerd Wallet
AUGUST 15, 2022
Lenders will typically require a credit check when you apply for credit such as a mortgage, credit card or auto loan. Prospective landlords, employers and utility providers may also check your credit. If the check doesn’t go well, your application may be denied or you may get unfavorable loan terms, like a higher interest rate. Lauren Schwahn writes for NerdWallet.
Account Recovery
AUGUST 18, 2022
A state court judge in Arizona yesterday rejected an industry-led challenge to a voter initiative that is scheduled to be on the ballot this November that would raise the limits on what can be shielded from wage garnishments while also lowering the judgment interest rate, leading the group to quickly file an appeal with the … The post Judge Rules Against Industry in Suit Over Arizona Garnishment Initiative appeared first on AccountsRecovery.net.
Consumer Finance Watch
AUGUST 19, 2022
Wayne Streibich, Diana M. Eng, and Alina Levi Financial institutions, debt collectors, debt collection law firms, and consumer-facing businesses should take note that the Fifth Circuit Court of Appeals has ruled that merely asserting a statutory violation of the Fair … Continue reading → The post <strong>Fifth Circuit Holds Mere Statutory Violation of the FDCPA, Future Risk of Harm, Confusion, and Lost Time Are Insufficient to Establish Article III Standing</strong> a
UK debt collections
AUGUST 15, 2022
Tenant evictions by bailiffs in the private rental sector (PRS) have increased by 39% say latest government figures released. The figures show that 3,405 households in the private rental sector were evicted by bailiffs in England between April and June 2022, up 39% on the previous quarter. It follows previous figures in May that showed that the number of ‘no-fault’ evictions issued in the first three months of this year was up 41% on the same period in 2020, which was largely before the COVID-19
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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.
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