Taurus Collect
JUNE 13, 2024
Debt collection can be a tricky business. Many people owe money, but not everyone can pay it back on time. Using empathy can make a big difference. When debt collectors understand a person’s situation, they can offer better solutions. This helps collect the money owed and builds trust. Imagine a debt collector who listens and helps rather than just demands payment.
UK debt collections
JUNE 9, 2024
Sporting legend Sir Bradley Wiggins has been declared bankrupt and could be forced to hand over his medals and trophies as his financial difficulties continue to mount. Wiggins, who retired from the sport in 2016 after a decorated career, has racked up huge amounts of debt with numerous business ventures over the years. Wiggins Rights Limited, a company owned by Wiggins, his former wife Cath and his mother Linda, entered liquidation in 2020 with debts amounting to £650,000.
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Roths Child Law
JUNE 11, 2024
Debt is easy to acquire. Many people build up debt with credit card purchases, late fees and high interest. Others may have suffered injuries or medical conditions that led to medical debt. One option to get rid of this debt easily when the debtor can not pay it on their own is bankruptcy. Bankruptcy is a process that allows debtors to regain control of their finances, either by discharging eligible debts in a Chapter 7 bankruptcy or via a repayment/restructuring plan through Chapter 13.
American Profit Recovery
JUNE 11, 2024
By Alexis: Let be honest, when we hear “collection agency” we automatically have negative connotations. There is an unspoken stigma surrounding collection agencies and people that have accounts in collections, but what people don’t realize is there are a lot of people that have accounts in collections. Having an account in collections should not be a source of shame.
Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius
4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor
Account Recovery
JUNE 12, 2024
Yesterday, the Consumer Financial Protection Bureau proposed a rule that would prohibit medical debts from being furnished on consumers’ credit reports. You can read more about the proposed rule here. You can sign up for a webinar on Thursday, June 13 to learn more about the proposed rule here.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
UK debt collections
JUNE 12, 2024
Labour says it will scrap business rates and crackdown on Small Business late payment as part of a package of measures to help small businesses. The party is also planning to boost small business exports by publishing a trade strategy and delivering clear advice to get new businesses exporting, and tackle anti-social behaviour with town centre police patrols.
American Profit Recovery
JUNE 13, 2024
Effective communication can solve many challenges in a business of any size. In fact, it is a mission-critical component of any type of business. Whether it’s internal or external communications, every business needs to make this a priority. When it comes to cash flow in an organization, this is a critical area where strong communication is key, and consistent communication can make a difference.
Account Recovery
JUNE 14, 2024
With all the talk about medical debt this week as a result of the Consumer Financial Protection Bureau’s proposed medical debt credit reporting rule, it’s perhaps interesting to note that a majority of consumers feel forgiving medical debt is more important than forgiving student loan debt, according to the results of a new poll.
Consumer Finance
JUNE 10, 2024
Research from the Consumer Financial Protection Bureau in 2022 showed that medical collections tradelines appeared on 43 million credit reports, and that 58 percent of bills that were in collections and on people’s credit records were medical bills.
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.
UK debt collections
JUNE 14, 2024
Tenancies ending with unpaid rent arrears of more than five weeks’ rent have leapt to 17%, new research reveals. The findings from deposit alternative platform Reposit show that landlords needed to reclaim at least five weeks of rent to cover costs such as arrears or damage. Increasing problem This figure rose 4% from a previous average of 13% last year.
Hudson Weir
JUNE 14, 2024
Employers in the UK have a legal obligation to provide payslips to their employees. So, is there a penalty for not issuing payslips in the UK? These documents not only outline the breakdown of earnings and deductions but also serve as crucial records for both the employer and the employee. Despite this requirement, some employers might neglect to issue payslips, either due to oversight or deliberate non-compliance.
Account Recovery
JUNE 11, 2024
The Consumer Financial Protection Bureau today announced the next step in its plan to prohibit medical debts from being included on consumers’ credit reports, proposing a rule that would remove $49 billion of debts that are currently appearing on those reports.
Consumer Finance
JUNE 12, 2024
Since the creation of the CFPB, the agency has returned $20.7 billion to consumers through law enforcement activity and created unquantifiable returns for the over 205 million Americans harmed by the illegal practices that we have stopped.
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Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.
FFGN COLLECT NY
JUNE 14, 2024
What is a non-military affidavit and how does it relate to New York debt collection? Filing suit against an individual? Regardless of whether your debt collection case is a commercial or consumer claim, there are additional requirements when seeking a judgment against someone. An affidavit or affirmation of non-military affidavit is required whether you are trying to enter a judgment against an individual defendant because they did not appear in court or by way of inquest.
On Guard
JUNE 10, 2024
A B2B sales professional tends to stay with a company for 3-5 years on average, before moving on to the next role. What makes someone stick with an organisation for longer? We asked Maarten, who recently completed 30 years in his Onguard journey. You know he is the one passing by your desk because you hear a whistle. He is an early bird, he enjoys asking questions to keep everyone busy, and his main hobby is to “enjoy life” Maarten, Global Account Director at Onguard, has made a val
Account Recovery
JUNE 14, 2024
A District Court judge in Louisiana has granted class certification in a lawsuit involving alleged violations of the Fair Debt Collection Practices Act. The case centers on attempts to recover overpayments from a grant program established to aid homeowners affected by Hurricanes Katrina and Rita.
Consumer Finance
JUNE 11, 2024
Since the creation of the CFPB, the agency has returned $20.7 billion to consumers through law enforcement activity and created unquantifiable returns for the over 205 million Americans harmed by the illegal practices that we have stopped.
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.
NCBA Law Practice Management Blog
JUNE 8, 2024
Niche practices are successful, in part, because these effectively reduce competition for law firms, and also because it’s easier to market just one thing, rather than several. Now, it’s easy to build a niche practice right from the start of your law firm , because you can just pick what you want to do. But, if you’re already running a law practice, and want to niche down – the calculation becomes a bit more complex.
Jimerson Firm
JUNE 13, 2024
In Florida, persons and entities that perform work on a construction project may be entitled to record a construction lien. Chapter 713 of the Florida Statutes governs the recordation and perfection of construction liens and contains many traps for the unwary. Moreover, Florida courts have consistently ruled that Florida Construction Lien law is to be strictly construed and strict adherence to it is an absolute condition precedent to a party seeking affirmative relief under Chapter 713.
Account Recovery
JUNE 13, 2024
I was told yesterday by someone I trust that a lot of companies in the accounts receivable management industry have firewalls from a company called FortiGate. If you do not know who your firewall provider is, you may want to take a second and check.
Consumer Finance
JUNE 10, 2024
CFPB propone normativa que removería facturas médicas de los informes de crédito, aumentaría protecciones a la privacidad, ayudaría al aumento de los puntajes crediticios y del número de préstamos aprobados, y prevendría que cobradores usen el sistema de reporte del crédito como arma para forzar a la gente a pagar.
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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.
NCBA Law Practice Management Blog
JUNE 8, 2024
It’s easy to get keyed up on a new paid advertising campaign you’re about to launch – especially if you’re one of the bold solo or small firm practitioners to actually be brave enough to launch one! But, if you haven’t built a formal intake program, through which you can track those online leads – it’s gonna be tough to measure the value of what you’re doing.
Collection Industry News
JUNE 13, 2024
Credit card debt hit a record high of $930 billion for Americans in the final quarter of 2019, according to the latest data from the Federal Reserve Bank of New York released on Feb. 11. That’s a $46 billion increase in credit card balances from the prior quarter and up an alarming $57 billion over the same period in 2018. The Fed’s report sheds light on the growing debt issue in America and the increased risk facing younger consumers.
Account Recovery
JUNE 13, 2024
Getting to Know Scott Weltman of Weltman, Weinberg & Reis Judge Dismisses Suit Alleging Wrongful Garnishment and Improper Service of Summons Popular Firewall Provider Breached, Requires Completely Re-Formatting Device to Fix Wisconsin Org.
UK debt collections
JUNE 13, 2024
A staggering £218 million is owed in unpaid ULEZ fines in London, according to official figures. A Freedom of Information (FOI) request revealed that more than 1.3 million penalty charges (PCNs) were issued from September 2023 to April 2024. But Transport for London (TfL) admitted that over 70% of the fines have remained unpaid. The transport authority also revealed that one driver had received over 200 fines for a single non-compliant vehicle, but hasn’t yet paid a penny of the £47,682 th
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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.
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