American Profit Recovery
JANUARY 3, 2023
Just about every business we encounter wants to make the process of getting paid on time much easier. Getting late-paying customers to the table and small business debt collections can become an area where many organizations just do not have the available resources. Take, for example, the lawn care company that works from sunrise to sunset and deals with a labor shortage.
UK debt collections
JANUARY 5, 2023
Credit card borrowing rose in November to its highest monthly level since 2004 according to latest Bank of England data. The figures showed individuals borrowed an additional £1.5 billion in all forms of consumer credit, an increase on the £700m borrowed in October, of which £1.2 billion was on credit cards (an increase of £400m when compared to October), as concerns mounted over the impact of high inflation on struggling households.
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Taurus Collect
JANUARY 2, 2023
Collections have a negative effect on your credit score. If you fail to pay back your creditor or lender or miss out on instalments regularly, they may resort to a debt collection agency or sell your account to a debt buyer. However, they most likely will call you or send emails to inform you about selling your account to a debt buyer. Then, the debt collection agency will pursue you to recover the money from you, and you are legally obliged to make the payment.
Account Recovery
JANUARY 6, 2023
Hey! Let’s celebrate! I asked six lawyers a question and not one of them said, “It depends.” 🎉⚖️🪩 In all seriousness, there were a lot of important cases that came down the pike in 2022, changing the landscape of how FDCPA, FCRA, and TCPA cases are litigated. Here are the most important cases, decisions, and … The post The Caselaw That Shaped the ARM Industry in 2022 first appeared on AccountsRecovery.net.
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.
American Profit Recovery
JANUARY 5, 2023
By Brian L. The saying goes, “actions speak louder than words” when it comes to showing who you are or what you are capable of accomplishing. In the debt collection industry, words are what speak louder than actions. Your choice of words will determine what actions follow. With conversations being made over the phone, the opportunity is there to build a relationship with a consumer so that both parties can come to an understanding, reaching a resolution that may have been a long time in the mak
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Nerd Wallet
JANUARY 3, 2023
Kate Wood writes for NerdWallet. Email: kwood@nerdwallet.com. Twitter: @[link]. The article New FHFA Credit Score Rules Could Broaden Homeownership Access originally appeared on NerdWallet.
Account Recovery
JANUARY 6, 2023
COMPLAINT ALLEGES COLLECTOR VIOLATED REG F’S 7-IN-7 In one of the few cases I have seen alleging that a collector violated the 7-in-7 provisions of Regulation F, a lawsuit has been filed against a collection operation — and its president and chief executive officer — for violating Reg F and the Fair Debt Collection Practices … The post Daily Digest – January 6.
Consumer Finance
JANUARY 3, 2023
Today, the Consumer Financial Protection Bureau (CFPB) and the New York State Office of the Attorney General sued a predatory auto lender, Credit Acceptance Corporation, for misrepresenting the cost of credit and tricking its customers into high-cost loans on used cars.
UK debt collections
JANUARY 6, 2023
Over 1 million pounds has been written off as uncollected debts by a council in Wales. Denbigh County Council predicted in December that it would be £2.1m over budget by the end of the current financial year, a situation worsening as construction costs rise and energy bills soar. Whilst Denbighshire has managed to make savings, lessening its overspending from an initial prediction of £5.5m, figures released this month reveal Denbighshire has written off over £1m (£1,013,245) in debts.
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Nerd Wallet
JANUARY 3, 2023
Eliza Haverstock writes for NerdWallet. Email: ehaverstock@nerdwallet.com. Twitter: @elizahaverstock. The article 2023 Is Here — And Big Questions on Student Debt Still Loom originally appeared on NerdWallet.
Account Recovery
JANUARY 6, 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? Call … The post Complaint Alleges Collector Violated Reg F’s 7-in-7 first appeared on AccountsRecovery.net.
Consumer Finance
JANUARY 2, 2023
Today, the Consumer Financial Protection Bureau (CFPB) released an annual report that details improvements and deficiencies in the nationwide consumer reporting companies’ responses to consumer complaints transmitted by the CFPB.
UK debt collections
JANUARY 4, 2023
European regulators are looking to clamp down on late European business late payment payments in 2023. In the U.K, the government announced the launch of a review into progress made in combating late business payments at the end of 2022, while the European Commission (EC) has included the revision of the late payments directive in its work program for 2023.
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Nerd Wallet
JANUARY 6, 2023
Holden Lewis writes for NerdWallet. Email: hlewis@nerdwallet.com. Twitter: @HoldenL. The article Mortgage Rates Have Room to Rise in January, Prior to Fed Meeting originally appeared on NerdWallet.
Account Recovery
JANUARY 6, 2023
The Consumer Financial Protection Bureau hasn’t officially announced it yet, but its regulatory agenda as of the Fall of 2022 has been published, a document that is updated twice a year to detail its planned rulemaking activities, and there are several items on the list that likely pertain to companies in the accounts receivable management … The post CFPB Publishes Rulemaking Agenda That Has Doubled in Size in Six Months first appeared on AccountsRecovery.net.
Troutman Sanders
JANUARY 6, 2023
On Dec. 15, 2022, the Federal Financial Institutions Examination Council’s (FFIEC) Task Force on Consumer Compliance adopted revised examination procedures for the Fair Debt Collection Practices Act (FDCPA) and its implementing regulation, Regulation F. The revised interagency procedures will apply to examinations conducted by FFIEC’s member regulators of their respective regulated institutions.
UK debt collections
JANUARY 3, 2023
What are the options if a limited company is struggling with debts? While it can be be tempting to ignore a mounting unpaid debt problem in a Limited Company, it is the worst thing a business owner can do. If a business is a limited company, there are many avenues open to the Business owners to resolve debt-related problems. So, where does someone start?
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?
Nerd Wallet
JANUARY 6, 2023
Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com. Twitter: @SAFmedia. The article How to Get Paid for Surviving the Southwest Meltdown originally appeared on NerdWallet.
Account Recovery
JANUARY 4, 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. This is merely meant … The post 22 Companies Seeking Collection Talent first appeared on AccountsRecovery.net.
FFGN COLLECT NY
JANUARY 6, 2023
The New York legislature passed many new laws in 2022, some of which directly affect New York debt collection. We reported on many of these laws including: Cutting the statute of limitations in half to collect medical and consumer debt from six years to three years. Decreasing the legal rate of interest on consumer claims from 9% to 2%. Putting an end to the use of wage garnishments (income executions) in New York to collect medical judgments.
Troutman Sanders
JANUARY 6, 2023
On January 4, the Consumer Financial Protection Bureau (CFPB) issued its 2022 Fall Rulemaking Agenda containing pre-rule, proposed rule, and final rules under consideration. The CFPB releases regulatory agendas twice a year in voluntary conjunction with a broader initiative led by the Office of Budget and Management to publish a Unified Agenda of Regulatory and Deregulatory actions across the federal government.
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?
Nerd Wallet
JANUARY 5, 2023
Jae Bratton writes for NerdWallet. Email: jbratton@nerdwallet.com. Liz Weston, CFP® writes for NerdWallet. Email: lweston@nerdwallet.com. Twitter: @lizweston. Sean Pyles writes for NerdWallet. Email: spyles@nerdwallet.com. Twitter: @SeanPyles. The article Smart Money: Use Your Values to Set Your Goals originally appeared on NerdWallet.
Account Recovery
JANUARY 4, 2023
In a case that was defended by Rick Perr and the team at Kaufman Dolowich & Voluck, a District Court judge in New Jersey has added attempting to collect on a debt without the proper license to the growing list of claims that do not automatically confer standing for a plaintiff to sue in federal … The post Judge Grants MTD in FDCPA Case Over Lack of License first appeared on AccountsRecovery.net.
NCBA Law Practice Management Blog
JANUARY 6, 2023
There’s a funny scene in the Pixar movie ‘Luca’ , where one of the main characters has labeled the negative voice in his head ‘Bruno’ – and, whenever he has thoughts about how he can’t do something, he yells ‘ Silenzio , Bruno!’ (they’re Italian), and so tamps down the fictional naysayer. I mean, it’s a great strategy, honestly. But, for many lawyers (and businesspeople generally), there ’s another, external voice, that can be highly bothersome.
Troutman Sanders
JANUARY 6, 2023
On January 4, the District Court of New Jersey dismissed a Fair Debt Collection Practices Act (FDCPA) complaint against an unlicensed debt collector for lack of standing. In Valentine v. Unifund CCR, LLC, et al., the court held that merely receiving a letter from an unlicensed debt collector is insufficient to establish a concrete injury for Article III purposes.
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