On Guard

FEBRUARY 4, 2022

In a previous blog just over three years ago, we discussed then-nascent technology – including artificial intelligence (AI) and Robotic Process Automation (RPA) – and its potential to shake up the credit management process for suppliers. So how far have we come and what obstacles remain for digital transformation? Big data and AI. These two developments were widely expected to have the greatest impact on the order-to-cash process and professionals still cite them as having the most potential goi

Credit Management 52

Credit Management Collections 52

True Accord

FEBRUARY 3, 2022

With digital lending via neobanks and fintechs on the rise, consumers have more options than ever for obtaining loans. There are a lot of considerations for these digital financial providers when building their business models, but one important and often-overlooked strategy is recovery for delinquent accounts. We sat down with TrueAccord’s Chief Growth Officer, Sheila Monroe , who has held numerous executive-level positions at TrueAccord on top of a multi-decade career in collections, to learn

Lender 52

Lender Collections Collection Companies Loans 52

Nexa Collect

FEBRUARY 3, 2022

An average collection agency will recover about 20% of the total debt assigned. Some clients may get a 100% recovery rate, for others it could very well be 0%. Here are the most important factors which decide how much a collection agency will collect for you: 1. Collection Agency itself: A collection agency that follows a friendly approach makes persistent contacts, follows legally complaint tactics , yet a firm approach will recover maximum money.

Collection Agencies 130

Collection Agencies Collections Agency Collections Debt collector 130

Account Recovery

FEBRUARY 4, 2022

The Department of Veterans Affairs has published a final rule detailing how delinquent debts owed to the VA are reported to credit reporting agencies. The new rule, which establishes a minimum threshold for what will be reported, goes into effect on March 4. About 5,000 delinquent accounts are reported to credit bureaus each month, according … The post VA Sets New Threshold For Reporting Medical Debt to Credit Bureaus appeared first on AccountsRecovery.net.

Healthcare 246

Healthcare 246

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.

Enterprise Recovery

FEBRUARY 4, 2022

Unpaid invoices are the worst! While it's easy to react negatively to your late or non-paying clients, each invoice may require its own way of dealing with it. You can start proactively, including establishing a consistent invoicing process and following up as quickly as possible. However, if you're lacking the resources or your prevention strategy isn't working, it's time to try something new.

Collection Agencies 194

Collection Agencies Collections Agency Collections 194

Nerd Wallet

FEBRUARY 3, 2022

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. One of the easiest ways to manage your money better this year is to hit the follow button on. Alana Benson writes for NerdWallet.

Education 144

Education 144

Account Recovery

FEBRUARY 2, 2022

JUDGE GRANTS MSJ FOR DEFENSE IN FDCPA CASE OVER CALLS TO CONSUMER’S GRANDMOTHER After already granting a motion to dismiss on one claim that a collector violated the Fair Debt Collection Practices Act when it contacted a plaintiff seeking to collect on a debt that was actually owed by her granddaughter, a District Court judge … The post Daily Digest – February 2.

Fair Debt Collection 246

Fair Debt Collection Collections 246

Consumer Finance

JANUARY 30, 2022

The Consumer Financial Protection Bureau (CFPB) today published a review of the financial issues facing people and families who come in contact with the criminal justice system.

102

102

UK debt collections

JANUARY 31, 2022

Historic English Football club is reported to have racked up huge debts according to reports. Derby County’s debts are said to be more than a staggering £60m according to reports via Sky Sports News. A trusted source has told the Sky Sports News channel that they have never seen such a high level of unpaid debt at any Championship league soccer club.

Secured Creditor 96

Secured Creditor Creditors Loans Collections 96

Advertisement

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.

Collections

Nerd Wallet

JANUARY 31, 2022

Record-low housing inventory, high prices and low mortgage rates made an interesting backdrop for the 2021 real estate market. Millions fought tooth and nail to close on homes throughout the year, but millions more were unsuccessful in their attempts. The 2021 housing market was booming, but that doesn’t mean buying a house was a breeze. Elizabeth Renter writes for NerdWallet.

103

103

Account Recovery

FEBRUARY 2, 2022

After already granting a motion to dismiss on one claim that a collector violated the Fair Debt Collection Practices Act when it contacted a plaintiff seeking to collect on a debt that was actually owed by her granddaughter, a District Court judge in Florida has granted the defendant’s motion for summary judgment on the remaining … The post Judge Grants MSJ for Defense in FDCPA Case Over Calls to Consumer’s Grandmother appeared first on AccountsRecovery.net.

Fair Debt Collection 246

Fair Debt Collection Judgment Collections 246

Credit Corp

FEBRUARY 3, 2022

According to the Consumer Financial Protection Bureau, around 45 million consumers in the United States are “credit invisibles”—people who do not have scorable credit records. It’s a financial state that can make it more difficult to do things such as get loans, qualify for affordable car insurance, or even get a job. Discover more about the credit invisible below and whether you’re one of them.

Loans 94

Loans Personal loans Auto Insurance Lender 94

UK debt collections

FEBRUARY 3, 2022

The construction industry is the latest sector to brace itself for a spike in Insolvencies. The ever increasing cost of labour and materials is adding weight to rising numbers of insolvencies. In addition, building contractors being tied to fixed-price jobs and the end of covid support are all being blamed for the spike. The industry has been warned to expect more firms to go bust after the latest official figures showed the number of contractors going under has gone up by a quarter.

Construction 88

Construction Trade 88

Advertisement

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.

Collections

Nerd Wallet

FEBRUARY 4, 2022

Millennials have long been at the mercy of economic events, from the Great Recession to crushing levels of student loan debt. But thanks to the Great Resignation that began in 2021, this generation is experiencing its first brush with power and opportunity in the job market. Millennials are midcareer and have more negotiating power than. Amrita Jayakumar writes for NerdWallet.

Student loans 98

Student loans Student Loans Loans 98

Account Recovery

FEBRUARY 4, 2022

A District Court judge in Indiana has rejected a defendant’s request to lower the amount of attorney’s fees awarded in a Fair Debt Collection Practices Act case, because it was the defendants who prolonged the litigation until it became clear that a jury was going to determine whether a “highly sympathetic” plaintiff was entitled to … The post Judge Awards Plaintiff’s Attorneys $100k in FDCPA Case appeared first on AccountsRecovery.net.

Fair Debt Collection 246

Fair Debt Collection Collections Acquisition 246

Prosperity Now

FEBRUARY 1, 2022

Tax filing season just started, and taxpayers are—once again—in for a rough ride.

119

119

Credit Corp

FEBRUARY 3, 2022

At the start of every new year, people set goals. Many of the most common resolutions set during the new year are financial in nature. For instance, some people resolve to pay off their debt before the year ends. Others want to decrease their spending and save money. If you’re one of those people who want to save money, decreasing your car insurance premium is one way to get closer to your financial goals.

Banks 98

Banks Auto Insurance 98

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

Nerd Wallet

FEBRUARY 2, 2022

Travel can be expensive, whether it’s high gas prices during your road trip or increasing travel demand causing hotel and airline costs to rise. But it doesn’t have to be as costly as you might think with these tips for saving money on travel. How to save money while traveling 1. Pack light Packing light. Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com.

98

98

Account Recovery

FEBRUARY 2, 2022

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. This is merely meant … The post 24 Companies Seeking Collection Talent appeared first on AccountsRecovery.net.

Accounts Receivables Management 246

Accounts Receivables Management Collections 246

UK debt collections

FEBRUARY 1, 2022

With unpaid invoices stalling post-covid financial recovery for many small businesses, we have complied a list of 6 top small business debt collection tips. We have drawn on the kind assistance of leading Small Business Debt Collection Experts Federal Management to advise on the best way to make telephone calls. If your small business invoices remain unpaid, you need to step out of your comfort zone to ensure you get paid.

Collections 64

Collections Collection Agencies Collections Agency Debtor 64

Troutman Sanders

FEBRUARY 1, 2022

In Almada v. Krieger , No. 21-55275 (9th Cir. Jan. 24, 2022) , the Ninth Circuit partially reversed a decision by the U.S. District Court for the Southern District of California, granting summary judgment in favor of a debt collector in a Fair Debt Collections Practices Act (FDCPA) case. In doing so, it held that a collection letter, which indicated that the debtor could only dispute the underlying debt in writing, violated the FDCPA.

Debt collector 59

Debt collector Judgment Fair Debt Collection Debtor 59

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

Nerd Wallet

FEBRUARY 2, 2022

Buying or leasing a car is a huge financial undertaking for many. And with high car prices come high car-maintenance costs. The My GM Rewards Card™ card can potentially help lower some of those car-related expenses. The $0-annual-fee card, issued by Goldman Sachs, earns rewards for General Motors Co. purchases as well as everyday spending. Funto Omojola writes for NerdWallet.

97

97

Account Recovery

FEBRUARY 3, 2022

The Chairwoman of the Federal Communications Commission yesterday announced the release of a Declaratory Ruling that classifies ringless voicemail messages to consumers’ cell phones as calls under the Telephone Consumer Protection Act, meaning that consumers would have to provide their consent prior to receiving such messages. The Ruling — which must be approved by the … The post FCC Chair Seeks to Classify Ringless Voicemails as Calls Under TCPA, Requiring Consumer Consent app

246

246

Burr Forman

FEBRUARY 4, 2022

The latest update surrounding H unstein v. Preferred Collection and Management Services, Inc. , Case No. 19-14434 centers not on the Eleventh Circuit or the Hunstein decision itself but on the district courts nationwide that are considering numerous copycat cases relying on the Hunstein reasoning. In one such recent case, Nabozny v. Optio Solutions, LLC , Case No. 21-cv-297-jdp, 2022 WL 293092 (W.D.

Collection Companies 52

Collection Companies Creditors Collections 52

FFGN COLLECT NY

FEBRUARY 4, 2022

A lot of people think if they ignore a debt collection letter, then it might just go away. Sometimes, it’s true. Some creditors may walk away if you do not respond to multiple demand letters. But, there is a chance they may not. Some creditors take a financial approach to the collection of bad debt. These creditors have preset limits and guidelines for the methods and lengths in which they pursue bad debt.

Collections 52

Collections Creditors 52

Advertisement

Discover a modern, cloud-based collection system that never takes a rest day. MeridianLink® Collect is an intuitive platform with advanced customization options developed to simplify the collections process. Here are four ways MeridianLink Collect can support your team: Omnichannel communications Compliance rules & checklists Workflows & queues One interface with supporting integrations And that’s just the start.

Collections