Enterprise Recovery

JULY 17, 2023

If your business is in a situation where goods or services have been provided, but your customer has failed to pay their invoice on time, it's up to your accounts receivable team to follow up. Your A/R department, however, can only do so much to ensure that your business receives the payment it deserves and maintains a healthy cash flow. It's crucial to provide a detailed process for escalating past-due invoices beyond accounts receivable to collections.

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Collections 186

Troutman Sanders

JULY 20, 2023

Please join Troutman Pepper Partners Chris Willis and Stefanie Jackman, along with special guest Prodigal Banking Strategy Leader Scott Hamilton for a discussion about how voice AI and machine learning contribute to more efficient call center controls plus much more. Topics include: The challenges faced by call centers; The benefits of machine learning models capable of assessing calls with accuracy that often exceeds the accuracy of a human; How these machine learning models work; What banks ha

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Account Recovery

JULY 19, 2023

During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers.

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Consumer Finance

JULY 18, 2023

The CFPB sued lease-to-own finance company Snap Finance for deceiving consumers, obscuring the terms of its financing agreements, and making false threats.

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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.

FFGN COLLECT NY

JULY 18, 2023

New York City affords freelance workers extra protection against unsavory employers when it comes to debt collection. New York City’s administrative code Title 20 awards double damages plus more to freelancers who meet the criteria and follow the process for filing non-payment debt collection claims. Who Benefits From Title 20? You will need to determine whether you meet the requirements to proceed under the city code to avail yourself of the recovery and additional penalty of $250 allowab

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Account Recovery

JULY 21, 2023

EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more?

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PDC Flow

JULY 19, 2023

Businesses want to make money. But how do you know if sales are good enough to keep your company profitable? There are many different financial reports organizations use to track performance. One of the most common–the profit and loss statement–lets companies: Monitor how the organization is performing and better understand profitability Assess expenses and profit trends Plan for future growth and reinvest in the business based on P&L data What is a Profit and Loss Statement?

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Payment Savvy

JULY 21, 2023

Building a successful startup comes with its fair share of challenges, chief amongst them being the search for loans and funding. While chasing that dream investment, startups often face a tough time trying to secure loans, primarily due to minimal or no revenue. Understandably, many lenders find this absence of steady revenues a red flag, sometimes closing doors to potential investment opportunities.

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Consumer Finance

JULY 16, 2023

Today, Rohit Chopra, Director of the United States Consumer Financial Protection Bureau, and Didier Reynders, Commissioner for Justice and Consumer Protection of the European Commission, announced the start of an informal dialogue between the CFPB and the European Commission on a range of critical financial consumer protection issues.

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Account Recovery

JULY 21, 2023

A District Court judge in New York has granted a defendant’s motion to partially dismiss one of the two counts against it in a Fair Debt Collection Practices Act lawsuit, ruling that the language in an identity theft affidavit that was sent to the plaintiff did not make it appear that the defendant was affiliated […]

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Fair Debt Collection Collections 130

Troutman Sanders

JULY 20, 2023

The Federal Reserve (Fed) has officially launched its new instant payment service, FedNow, which aims to modernize the U.S.’s payment system. As previously discussed here and here , consumers and businesses will be able to send and receive money within seconds, at any time of the day and on any day of the year. This will eliminate the one to three days’ lag time of traditional money transfers, providing the public with more flexibility in managing their money.

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Sawin & Shea

JULY 19, 2023

If you find yourself in an untenable financial situation, bankruptcy may be your best option. But that doesn’t mean the process isn’t stressful and overwhelming. There are many considerations. One of the things you may be most concerned about is whether it will affect your current job or future credit. Chapter 7 bankruptcy , or liquidation bankruptcy, allows you to discharge all or most of your debt.

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Jimerson Firm

JULY 19, 2023

One of the critical issues to consider when drafting or reviewing an Operating Agreement or Shareholders’ Agreement involves the terms governing expulsion of members or shareholders. Expulsion generally refers to the act of formally removing a member or shareholder from their position within the company and stripping the rights and benefits associated with membership.

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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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Account Recovery

JULY 21, 2023

The Consumer Financial Protection Bureau yesterday published a report spotlighting an emerging financial obligation that is stirring concern across the labor market: employer-driven debts. The report was based on information it received from consumers and advocacy groups as a result of a Request for Information it published last June.

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Troutman Sanders

JULY 19, 2023

More than two years after the Supreme Court released its ruling in Facebook v. Duguid , confirming the meaning of automatic telephone dialing systems (ATDS) under the Telephone Consumer Protection Act (TCPA), a plaintiff has filed a petition for a writ of certiorari to the Supreme Court to challenge the Ninth Circuit’s application of the Facebook decision.

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Payment Savvy

JULY 18, 2023

Knowing your Employer Identification Number is essential for many different reasons. However, many employers struggle with EIN number lookup. In this article, we’ll take a closer look at what the EIN is and offer a few suggestions about how you can find yours. What is an Employer Identification Number (EIN)? An employer identification number, or EIN, is a unique, nine-digit number issued by the Internal Revenue Service (IRS).

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Taurus Collect

JULY 17, 2023

Do you own a rental property business and are having difficulties collecting past-due rent from tenants? If you’ve tried every option possible to collect the money owed, it may be time to seek help from a collection agency. It can be overwhelming trying to identify which collection agency is right for your business, so we have laid out what needs to be done throughout this entire process with helpful tips on how to properly use a collection agency and manage outgoing payments.

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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?

Financial services

Account Recovery

JULY 21, 2023

In a time where the lines between healthcare and finance are increasingly blurred, one company is standing out: Collectly, a patient financial engagement software platform that announced yesterday it raised $29 million in Series A funding round led by Sapphire Ventures. This brings the company’s total capital raised to an impressive $34.1 million.

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Troutman Sanders

JULY 18, 2023

Please join Troutman Pepper Partner Dave Gettings and colleagues Tim St. George and Jessica Lohr as they discuss the use of expert witnesses in FCRA cases. During this episode the team covers a multitude of relevant topics, including: What is an expert witness and how does an expert witness differ from a fact witness? Are expert witnesses overutilized or underutilized in FCRA cases?

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Roths Child Law

JULY 17, 2023

People are often grateful for the relief provided by the automatic stay that the court grants when they file for bankruptcy. After all, they have probably endured aggressive collection efforts for months at the point that they file for bankruptcy and may feel anxious every time they answer the phone or go to the mailbox, to describe their situation mildly.

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Taurus Collect

JULY 17, 2023

As a business owner, knowing how to effectively manage your debtors is essential when it comes to staying on top of financial transactions. Unfortunately, the process can be a bit intimidating and overwhelming for those who don’t have much experience in this area. That’s why we’ve put together this comprehensive guide to debtor tracing in the UK – to make sure you’re up-to-date with all relevant information!

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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?

Banks

Account Recovery

JULY 21, 2023

Collector Sued for Sending Emails at Inconvenient Time Healthcare Collection Platform Collectly Raises $29M to Help Providers Recover More Judge Grants Partial MTD in FDCPA Case Over ID Theft Affidavit CFPB Report Spotlights Employer-Driven Debt Williams & Fudge Announces Acquisition of RGS Financial, Expanding its Market Presence and Strengthening Client Services WORTH NOTHING: A question […]

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TCPA

JULY 17, 2023

Ever since the Supreme Court confirmed that the TCPA’s autodialer restrictions apply only to devices that generate numbers randomly or sequentially, the plaintiffs’ bar has been digging deep for new theories of liability to fill the void.

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Troutman Sanders

JULY 17, 2023

Deceptive advertisements, market manipulation, misappropriation of customer funds, and “Ask Me Anything (AMA)” sessions served as the catalysts of a civil enforcement action the Federal Trade Commission (FTC) recently filed against bankrupt digital asset services provider Celsius Network LLC (Celsius) and its co-founders on July 13. This is a groundbreaking move by the FTC for two reasons.

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Taurus Collect

JULY 17, 2023

Skip tracing, also known as ‘debt collection skip-search’ or simply a ‘skip search’, is a process used by debt collectors to locate and contact those individuals who have gone to great lengths to avoid being found. It can be an incredibly effective collection tool for finding missing debtors. In this blog post, we’ll go into the basics of skip tracing in debt collection so you can gain greater insight into how these professionals try locating those who are hard to find to ultimately collec

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