Sat.Sep 05, 2020 - Fri.Sep 11, 2020

Debt Collection Email Templates To Help You Collect Debts Faster

Debt Recoveries

Let’s face it, snail mail is dead, so your internal debt collection processes should start with some good debt collection email templates. Forget about snail mail. It’s a waste of your time and more importantly, your customer’s time.

Collecting a Debt When Your Client Offers to Settle But Does Not Pay

FFGN COLLECT NY

You completed your end of the deal but when it came time to pay your customer did not. After repeated invoicing, the customer finally offers to settle the balance due in writing but does not pay.

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How To Remove General Service Bureau From Your Credit Report

Better Credit Blog

Debt collectors can be a real nuisance, calling, sending letters, and leaving messages frequently. They can also severely impact your credit score, limiting your future borrowing options for years to come.

Channel Partner: Where Do Your Leads Disappear To?

NCBA Law Practice Management Blog

In a perfect world, law firms would generate, consolidate and convert leads with crushing effectiveness. In the real world, law firm leads often disappear.

Unpaid Invoices affecting 54% of UK Businesses

UK debt collections

As the United Kingdom continues to ease its Coronavirus restrictions , 54% of current actively trading Businesses are facing piles of unpaid invoices. The results from a survey by the Office of National Statistics make for shocking reading.

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Experian Credit Score vs. FICO Score

Credit Corp

When you think “credit score,” you probably think “ FICO.” The Fair Isaac Corporation introduced its FICO scoring system in 1989, and it has since become one of the best-known and most-used credit scoring models in the United States. But it isn’t the only model on the market.

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The Digest: September 2020

True Accord

As we begin to round out an unprecedented year, things remain…well…unprecedented. The world of collections is weathering the storm with new strategies and technology, all while staying focused on the rippling economic effects of the ongoing pandemic. Here’s the news we’re following at TrueAccord.

iQor Files for Bankruptcy Protection

Account Recovery

Collection operation and contact center business-process outsourcing provider iQor filed for Chapter 11 bankruptcy protection yesterday, seeking approval of a pre-packaged plan that would provide the company with $130 million of funding to reorganize itself and continue operating.

Is Moving Now Your Best Financial Move?

Nerd Wallet

You may not have started 2020 thinking about a move. But like it or not, many of us have had to reconsider our living situations during the pandemic. Maybe you’re one of the lucky ones who can now work remotely, or maybe you’re out of a job like millions of others. You may be wondering.

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PDCflow COO Ed Bills featured in Podcast “Credit Eco to go”

PDC Flow

This summer, Joann Needleman , financial services attorney at Clark Hill Law, launched the podcast “Credit Ecosystem To Go: Curbside Thought Leadership for Financial Services.” . The podcast, centered around consumer finance issues, provides “bite-sized” discussions with industry leaders.

Is Venmo a Safer Online Payment Options Than Competitors?

Credit Corp

Total Venmo payments rose from $6.8 billion in the first quarter of 2017 to $31 billion in the first quarter of 2020. That’s more than a 350% increase for the rising P2P payment app. P2P stands for person-to-person, and payment apps like Venmo specialize in this niche.

Congress Should Outlaw Contract Clauses Waiving Liability for Negligently Exposing People to COVID

Public Citizen

by Jeff Sovern. That's the title of my post over at the ContractsProf Blog virtual symposium on contracts and COVID. Here's an excerpt:  The argument behind  liability waivers  as to normal risks is that people should be able to arrange their private affairs as they wish, but COVID liability waivers are not purely private. 

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You Don’t Need Perfect Credit to Get a Personal Loan

Nerd Wallet

A low credit score doesn’t have to stand in your way if you want to get a personal loan to cover an emergency or consolidate your debts. Borrowers with bad credit, which is a FICO score below 630, may need to put in some extra work to qualify for a personal loan. But taking these.

Daily Digest – September 11. IQor Files for Bankruptcy; Appeals Court Affirms Dismissal of FCRA Case Over Deleted Item

Account Recovery

IQOR FILES FOR BANKRUPTCY PROTECTION Collection operation and contact center business-process outsourcing provider iQor filed for Chapter 11 bankruptcy protection yesterday, seeking approval of a pre-packaged plan that would provide the company with $130 million of funding to reorganize itself and continue operating.

Sep 10, Can I get my wages garnished without notice?

Debt Collection Answers

Can your wages be garnished without notice from your employer? And how do you stop wage garnishment? Find out what to do

Is Filing for Chapter 7 Bankruptcy Right for You?

Luftman, Heck & Associates.

Deciding whether or not to file for bankruptcy is a struggle for many. The idea of getting all your debts eliminated is appealing, but, bankruptcy makes people nervous. Chapter 7 bankruptcy in particular can be intimidating because many people believe it will ruin your credit forever.

Gaining Insights and Building Digital Assets from Data

Re:Ceeve

quintillion bytes of data is created each and every day. However, data on its own is of little use—the real magic happens when you turn raw data into tangible assets that add value to your business. As such, data analysis is the bedrock of any modern organisation.

Childcare Providers facing financial ruin

UK debt collections

The UK’s Childcare Industry is facing real issues post pandemic. The loss of income from parent-paid fees since March is meaning that many childcare providers are facing major financial challenges.

How to Remove EOS CCA from Your Credit Report

Better Credit Blog

There are few things more anxiety-inducing than being contacted by a debt collector. If a company called EOS CCA is on your missed calls list, it means that they are pursuing you for an old debt. Unfortunately, that’s not all. They have also likely opened a collections account on your credit report.

Colo. AG To Hold Meeting To Discuss Extending Deadline on Barring ‘Extraordinary’ Collection Acts

Account Recovery

The Colorado Attorney General’s office has announced it will hold a virtual meeting on Thursday, Oct. 1, to solicit feedback to help it determine whether it should extend a prohibition on certain collection activities through February 2021 as a response to the coronavirus pandemic.

Consumer Financial Protection Bureau Announces Podcast Series on Paying for Higher Education

Consumer Finance

The Consumer Financial Protection Bureau today released the first episodes of a two-part podcast series for students, parents, and practitioners on managing finances before, during, and after college. Press release Student loans Students

Do You Have to Pay Student Loans in Graduate School?

Nerd Wallet

You typically don’t have to pay student loans in graduate school. You can defer payments on federal loans and most private student loans if you’re enrolled at least half-time.

Dodge Momentum Index Improves for Second Straight Month

NACM

A construction spending indicator reports a potential increase in outlays as the U.S. economy continues to recover from earlier shutdowns. The Dodge Momentum Index, which measures the initial report of nonresidential building projects in planning, increased 1.8%

Collection Firm Facing Class-Action FDCPA Suit

Account Recovery

A collection law firm in Virginia is being sued for allegedly violating the Fair Debt Collection Practices Act by misrepresenting the amount of attorney involvement in drafting collection letters and for charging “unreasonable” fees to individuals who do not pay their rent.

Stretching vs. Chasing: Business Advice During Hard Times

Enterprise Recovery

If you're starting a new business or have grown a business from the start, you will have some idea of what it takes to "wear many hats" or be as resourceful as possible. During that startup phase, you're analyzing, measuring, listening and on high alert to what is making your clients happy.

Rate and Term Refinance: Trade In Your Mortgage for a Better Model

Nerd Wallet

A rate and term refinance is a loan improvement. You exchange your old mortgage for a new one that (hopefully) leaves you in a better financial position. You may be able to accomplish one or more goals with a rate and term refinance, such as: Lowering your monthly payment.

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Accept a Discount or Long-term Payment Plan: A Real Life Example

The Kaplan Group

All too often during the collection process our clients need to consider which is best for them, a lump sum payment with at a significant discount of what they are owed or a long-term payment plan for the full amount.

CFPB Sues Encore, Subsidiaries, for Violating Terms of 2015 Consent Order

Account Recovery

The Consumer Financial Protection Bureau today filed a lawsuit against Encore Capital Group, Inc. and its subsidiaries, Midland Funding, LLC, Midland Credit Management, Inc., and Asset Acceptance Capital Corp.,

How to Remove Phoenix Financial Services From Your Credit Report

Better Credit Blog

Have you noticed a company called Phoenix Financial Services on your credit report? If you have, this has probably been accompanied by calls from them to collect on a debt. You probably have also had a drop in your credit score.

Private Equity: What It Is and How to Start Investing

Nerd Wallet

Private equity is a form of investment that takes place outside the public stock market through which investors gain an ownership stake in private companies.

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SBA Issues New Rules For Appeals of Disputed PPP Audits

Burr Forman

PPP loans under the CARES Act are being audited by the SBA. All PPP loans over $2 million will be audited, and many more under $2 million will be audited as well. Applying for forgiveness of a PPP loan increases the likelihood of an audit.