PDC Flow

JULY 26, 2023

In a recent PDCflow sponsored webinar on accountsrecovery.com , a panel of digital collection experts sat down to discuss the differences they’ve encountered in text messaging and email for debt collection. Shawn Farris, Brandy Rouselle, and Chris Repholz discussed which channels they each prefer and the strengths of each. They also covered how using SMS messages together with email for debt collection in a single strategy boosts engagement and builds trust.

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CICM

JULY 26, 2023

Assessing Creditworthiness A Credit Controller are responsible for evaluating the creditworthiness of a potential or existing customer. They analyse data from sources such as credit reports, company accounts and past payment history, and use this to determine appropriate limits, control measures and payment terms. Credit controllers will make recommendations based on their findings.

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Collections Law

JULY 25, 2023

We seek to freeze a debtor’s assets prior to obtaining a judgment so that there is an identifiable resource from which to get you paid. Once you get that judgment, we seek leave of the court to direct the person or entity which is holding the debtor’s seized assets to pay you. If your debtor owns a cash business, we may seek a “keeper attachment.

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Consumer Finance

JULY 25, 2023

Today, the Consumer Financial Protection Bureau (CFPB) released a new Supervisory Highlights report which found unfair, deceptive, and abusive acts or practices across many consumer financial products.

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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.

Account Recovery

JULY 25, 2023

A bipartisan bill has been introduced in the House of Representatives that would require creditors establish a dedicated phone line to assist older Americans who may have been scammed or otherwise have questions about possible billing errors. H.R. 4743, the Reporting Instances of Non-authorized Grift (RING) Act of 2023, was introduced last week by Rep.

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Brown and Joseph

JULY 26, 2023

Our Clients’ Gateway to an Enhanced Experience We are thrilled to announce the launch of the Brown & Joseph -ARMStrong- Web Portal 2.0—an exciting and… The post Introducing the Brown & Joseph Web Portal 2.0 appeared first on Brown & Joseph, LLC.

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Credit Corp

JULY 25, 2023

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Paying off your car loan can lower your credit score, but the effects are usually temporary. Are you thinking about paying off your car loan early?

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Loans Creditors Trade Lender 98

Account Recovery

JULY 25, 2023

Attorneys Dale Golden, Charles McHale, Sangeeta Spengler and Joseph Proulx are joining forces with attorneys Xerxes Martin, Loraine Lyons, Patrick Watts, Heath Morgan, Jacob Bach, Matthew Bell, and Justin Han to create a highly experienced and geographically diverse law firm that will expand its support the accounts receivable management industry.

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Collections Law

JULY 28, 2023

Large businesses and corporations that encounter nonpayment of business debt may assume that getting a court judgment against the non-paying company is all that is necessary. Unfortunately, that is not always the case. There are companies who will still withhold payment even after a court judgment. When they do, you need an attorney who knows how to collect on a judgment.

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Consumer Finance

JULY 24, 2023

Director Chopra provided prepared remarks at an event hosted by the U.S. Department of Housing and Urban Development on tenant rights.

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Credit Corp

JULY 25, 2023

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. You can contact Equifax®, Experian®, or TransUnion® online, over the phone, or by mail to unfreeze your credit. The process is free, but it may take up to an hour to fully take effect.

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Account Recovery

JULY 27, 2023

CHICAGO — Is the glass half-full or is it half-empty? That is a question that a lot of people are here to answer this week at ACA International’s annual convention.

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UK debt collections

JULY 28, 2023

1 in 5 Home care providers facing collapse Dozens of home care companies in England fear collapse because invoices are going unpaid by councils and the NHS. Hundreds of millions of pounds in unpaid bills are threatening parts of a care industry already stretched by a recruitment crisis and rising wages, according to research by the Institute of Health and Social Care Management (IHSCM).

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Collections

Troutman Sanders

JULY 28, 2023

On July 27, the Consumer Financial Protection Bureau (CFPB) released a new blog post , positing that cashflow data, broadly defined as the various inflows, outflows, and accumulated amounts in a consumer’s checking and savings accounts, may provide lenders with a better picture of a consumer’s ability to repay their loans than using a credit score. To perform its analysis, the CFPB used responses from its 2019 Making Ends Meet survey and the linked Consumer Credit Panel (CCP).

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Credit Corp

JULY 25, 2023

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Can you pay a loan with a credit card? Yes, paying a loan with a credit card is sometimes possible. Yet, whether or not you can do so depends on factors such as the lender’s policies or the type of loan you want to pay off.

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Account Recovery

JULY 28, 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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FFGN COLLECT NY

JULY 27, 2023

Do businesses have to pay for defective goods they receive? Let’s say your company orders 1,000 vacuum cleaners from a distributor. You receive the vacuum cleaners and perform a general inspection. As far as you can tell, the goods seem in working order. Your company then proceeds to sell the vacuums to other buyers. After 30 days, you begin to receive calls from your buyers that the vacuums purchased no longer seem to be working.

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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

Troutman Sanders

JULY 28, 2023

According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), and the Telephone Consumer Protection Act (TCPA) were down for the month of June. This reverses the upward swing seen in these filings in May. Complaints filed with the Consumer Financial Protection Bureau (CFPB) were down in May and remained down for June.

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Credit Corp

JULY 25, 2023

Inaccurate, negative items on your credit report can significantly affect your credit score and impact your ability to secure credit, obtain lower interest rates, land your dream job, or even rent an apartment. This negative impact can be devastating in many ways, but it’s even worse if the harmful information isn’t accurate. Correcting these errors is one of the first steps to repairing your credit.

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Account Recovery

JULY 28, 2023

The march on standing at the District Court level has created a new dynamic — or at least the threat of a new dynamic — for collection operations, and that is facing Fair Debt Collection Practices Act cases in state courts.

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Fair Debt Collection Collections 130

UK debt collections

JULY 27, 2023

An improvement in Small Business jobs and sales growth across UK small businesses in June has been largely offset by increasing late payments and a slowdown in wages growth, according to the latest data from global small business platform Xero. Xero’s Small Business Index, based on anonymised and aggregated data from hundreds of thousands of small businesses, rose three points across May and June, recovering slightly after falling by 11 points in April.

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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

Troutman Sanders

JULY 28, 2023

On June 6, Nebraska Governor Jim Pillen signed into law Legislative Bill 92 , which, among many other subjects, amends the Nebraska Installment Loan Act (the NILA). Previously, a license was required for a lender seeking to take advantage of the usury authority provided by the NILA and also for any person that holds or acquires any rights of ownership, servicing, or other forms of participation in a loan under the NILA.

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CICM

JULY 26, 2023

In today’s business environment, uncertainty is one thing we can take for granted. Soaring prices caused by high inflation and a tightening lending market all serve to put pressure on household and business finance alike. With customers facing increasingly difficult choices about who they can afford to pay, it’s vital to make sure that the first line of financial self-defence, credit control, is properly understood and working as intended.

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Account Recovery

JULY 28, 2023

The Connecticut Department of Banking has fined a collection agency $15,000 for operating in the state without a license, the second time the company has been fined for doing so. A copy of the order against Professional Debt Mediation can be accessed by clicking here.

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Debt Recoveries

JULY 23, 2023

Maintaining a strong cash flow is essential for any business’ survival and expansion in today’s fast-paced business environment. Regrettably, managing delinquent bills and past-due payments may be a difficult and time-consuming chore. This is a situation when Australian businesses may find it prudent to outsource debt collection services.

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