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You might perceive that all calls from a collection agency are nothing more than a standoff between a consumer and a debt collector. However, that is far from an accurate representation of how today’s interactions with consumers unfold. In fact, here it is quite the opposite. And despite the media’s perception of the collection industry, when we get people on the phone, and we get to a place where a cordial conversation begins to occur, we go to great lengths to get to know the consu
The Consumer Financial Protection Bureau should “halt” the implementation of its debt collection rule and “fix” it by reducing the number of call attempts, requiring consumers to opt in to receive electronic communications, and prohibit the collection of time-barred debt, as a means of improving consumer protection and stemming the influx of consumer complaints, which … The post Advocacy Report Calls on CFPB to Make Changes to Debt Collection Rule appeared first on
The COVID-19 pandemic has taken a financial toll on nearly all of us. Forced redundancies, business closures, dropped contracts and general economic instability have brought financial hardships to some more than ever. At the same time, missed rent payments and increased debt-to-credit ratios have produced a credit-ratings crunch across the board. COVID-19 loans for bad credit are on the rise—but do they deliver, or do they make things even worse?
Today, the Consumer Financial Protection Bureau (CFPB) issued a report that warns of widespread evictions and foreclosures once federal, state, and local pandemic protections come to an end, absent additional public and private action. Over 11 million families are behind on their rent or mortgage payments: 2.1 million families are behind at least three months on mortgage payments, while 8.8 million are behind on rent.
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
The title may grab you but let’s be clear, debt collections is not sales and it is not selling anything. However, some of the core strategies that allow a sales executive to be successful can be viewed as some of the same traits you should be implementing in your collections. Let us explain. There are always great lessons to be had and new things to be learned if you’re looking in the right places in the world of business.
GETTING TO KNOW ANDREW SCHWARTZ OF GORDON & REES You have to love a lawyer who brings his own eggs into work in the morning before defending the industry before a federal judge. Andrew Schwartz may be known for helping overturn the written dispute requirement within the Third Circuit Court of Appeals, but there is … The post Daily Digest – March 4.
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GETTING TO KNOW ANDREW SCHWARTZ OF GORDON & REES You have to love a lawyer who brings his own eggs into work in the morning before defending the industry before a federal judge. Andrew Schwartz may be known for helping overturn the written dispute requirement within the Third Circuit Court of Appeals, but there is … The post Daily Digest – March 4.
Commercial debt recovery, also called corporate collections or B2B debt collections, is used specifically to recover delinquent business customer accounts. Not to be confused with consumer debt collections where the delinquent account holder is an individual, commercial debts refer only to businesses. To clear up any confusion, we'll cover what's different and why.
Businesses that thrive are the ones who go after every opportunity and advantage they can acquire in order to improve their cash flow and secure their working capital. ‘ Fortune favors the bold ’, and in business, you’ve got to explore beyond your comfort zone in order to hunt bigger rewards and add them to your bottom-line. You may have heard of cost segregation studies as a property owner’s way to tax benefits, but while the overall idea is appealing, the complex process and the prospect of in
When the price of oil spiked during the February deep freeze, I started using a gas price app and was amazed to find that the cost of fuel in my area varied by 70 cents a gallon. By purchasing the cheapest gas, I could save $8.40 each fillup and as much as $220 a year. Philip Reed writes for NerdWallet. Email: Preed@nerdwallet.com. The article Put the Cap on Gas Prices: 6 Ways to Save at the Pump originally appeared on NerdWallet.
The Consumer Financial Protection Bureau yesterday made a pair of announcements — delaying the enactment date of a rule that was set to go into effect July 1 and filing a lawsuit against a payment processor and its former chief executive for aiding clients that were taking advantage of individuals by tricking them into purchasing … The post CFPB Issues NPRM to Delay Compliance With QM Rule; Sues Payment Processor appeared first on AccountsRecovery.net.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Kids are expensive. According to the USDA , raising a child can cost well over $200,000, not including the cost of college. Investing for their future is important, but teaching them smart financial habits , including how to invest for themselves, can give them a head start—and give you some financial breathing room. Credit.com’s Tips for Teaching Kids about Investing.
After a year of little to no travel, you’re probably ready to get back out and explore the world once it’s safe. But just because you’ve gotten your vaccine or coronavirus case rates are dropping doesn’t necessarily mean everything is returning to normal. In fact, the travel world is still far from it. If you. Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com.
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 Andrew Schwartz
Speaker: Alex Salazar, CEO & Co-Founder @ Arcade | Nate Barbettini, Founding Engineer @ Arcade | Tony Karrer, Founder & CTO @ Aggregage
There’s a lot of noise surrounding the ability of AI agents to connect to your tools, systems and data. But building an AI application into a reliable, secure workflow agent isn’t as simple as plugging in an API. As an engineering leader, it can be challenging to make sense of this evolving landscape, but agent tooling provides such high value that it’s critical we figure out how to move forward.
This post originally appeared on The Financially Independent Millennial. Are you wondering how to pay off debt fast, if you think you have no money? In this article, I’ll cover some strategies you can do today to pay off debt fast. The best way to learn how to pay off debt fast, even with no money, is by reducing spending, increasing income, and using the leftover monthly surplus to pay debt.
ITASCA, IL – Brown & Joseph is pleased to announce it has been honored as a recipient of the Daily Herald Business Ledger’s 2021 Annual… The post Brown & Joseph named 2021 Annual Awards of Business Excellence Honoree appeared first on Brown & Joseph, LLC.
Shopping for their first home in New Jersey, Alyse Storzieri and her boyfriend Robert Engel faced a tough market. So when they found a house they loved last June, the couple followed their real estate agent’s advice to make their offer stand out. They went over the asking price, tripled their down payment amount and. Kate Wood writes for NerdWallet.
Performant Recovery has filed a notice with the state of Oregon that it is planning on laying off 60 employees at its location in Grants Pass, Ore., and will not bring back 31 employees who had been furloughed, citing the COVID-19 pandemic and changes to student loan collections as the reasons for the layoffs. The … The post Performant to Lay Off 90 at Oregon Location appeared first on AccountsRecovery.net.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
As a small business, you need to make money in order to grow. Unfortunately, cash flow can usually wind down to a trickle if you don’t have enough business funds to keep it afloat. And although loans may be your best bet in this situation, you might be worried about having to pay it back in a certain amount of time. Does this sound like you? If so, then don’t panic.
Today, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit in federal court against BrightSpeed Solutions Inc. (BrightSpeed) and its founder and former chief executive officer, Kevin Howard, for knowingly processing payments for companies engaged in internet-based technical-support fraud. Chicago-based BrightSpeed was a privately owned, third-party payment processor founded and operated by Howard in 2015 and wound down business operations in March 2019.
There are a few obvious ways to learn how much money you spend on groceries every month: You can add up receipts, view your credit card transaction history or track your spending with a budget app. But figuring out how much you should spend on groceries isn’t quite as straightforward. Here’s how to work grocery. Lauren Schwahn writes for NerdWallet.
The number of individuals who are at least three months behind on their mortgages has increased by 250% in the past year, and 11 million renters and homeowners are at risk of losing their homes to foreclosure or eviction, according to a report issued by the Consumer Financial Protection Bureau this week. Collectively, almost $90 … The post CFPB Report Reveals 11 Million People at Risk of Losing Homes appeared first on AccountsRecovery.net.
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
This post originally appeared in the The Financially Independent Millennial. Are you looking for part-time weekend jobs in your area? Indeed, millions of Americans are looking to make a little extra money by working on the weekends. They might need to supplement their income, keep themselves busy on weekends, among other reasons. Or, perhaps it’s a student who needs to earn a little extra money to help pay student loans.
Employee benefit plan administration is no small feat. However, it is becoming more and more difficult, especially with pandemic related modifications. As you may recall from our previous Client Alert regarding the Outbreak Period, various benefit deadlines were extended due to COVID-19. Plans could not deny certain benefits or impose certain deadlines during the designated Outbreak Period (i.e., March 1, 2020 through 60 days after the National Emergency ends (or another specified date)).
If a flood wrecks your house and belongings, and you don’t have flood insurance, you may feel as though you’ve lost everything. But once the floodwaters recede, help is available to get you back on your feet. Your first step: Check your insurance. Although your homeowners policy likely won’t cover flood damage, your auto policy. Sarah Schlichter writes for NerdWallet.
JUDGE DENIES MOTION TO CERTIFY CLASS IN FDCPA SOL SUIT A District Court judge in Delaware has denied a motion to certify a class in a lawsuit that alleged a collector violated the Fair Debt Collection Practices Act by falsely representing the legal status of a debt when it sent settlement offers on time-barred debts … The post Daily Digest – March 3.
What’s holding finance teams back isn’t just process inefficiency. It’s culture gaps, reactive mindsets, and missed opportunities to lead real change. In an era of disruption, finance leaders can no longer afford to operate on autopilot and the most resilient teams aren’t just efficient—they’re connected, talent driven, and culture-focused. Join Melissa Hurrington for an exploration into how finance leaders can evolve beyond process and numbers to create adaptive, people-powered teams that thriv
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