Sat.Dec 31, 2022 - Fri.Jan 06, 2023

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4 proven ways to make debt collections easier for your business

American Profit

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.

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Credit card use up to highest levels since 2004

UK debt collections

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

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How Do Collections Accounts Affect Your Credit?

Taurus Collect

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.

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The Caselaw That Shaped the ARM Industry in 2022

Account Recovery

Let’s celebrate! I asked six lawyers a question and not one of them said, “It depends.”

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The Power of Storytelling in Risk Management

Speaker: Dr. Karen Hardy, CEO and Chief Risk Officer of Strategic Leadership Advisors LLC

Join this exclusive webinar with Dr. Karen Hardy, where she will explore the power of storytelling in risk communication as a core component of a resilient organization's management framework!

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Losing Accountants? Here's How to Help Your Accounting Team

Enterprise Recovery

The Wall Street Journal is reporting that the number of accountants and university students that are studying accounting is falling. The long hours, especially during tax season, are turning off young recruits.

More Trending

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New FHFA Credit Score Rules Could Broaden Homeownership Access

Nerd Wallet

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. Mortgage Process Mortgages

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Daily Digest – January 6. Complaint Alleges Collector Violated 7-in-7; Judge Grants MTD in FDCPA Claim-Splitting Case

Account Recovery

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CFPB and New York Attorney General Sue Credit Acceptance for Hiding Auto Loan Costs, Setting Borrowers Up to Fail

Consumer Finance

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.

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Five Stories that Matter in Michigan This Week – January 6, 2023

Fraser

The Federal “Speak Out Act” Takes Effect.

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How to Attract Multiple Generations to Open New Accounts and Apply for Loans

The experiences of every generation are characterized by their behaviors involving finances. Understanding these attitudes and using them to inform marketing messages enables community banks, regional banks and credit unions to better serve their customers.

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Mortgage Rates Have Room to Rise in January, Prior to Fed Meeting

Nerd Wallet

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. Mortgages

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Complaint Alleges Collector Violated Reg F’s 7-in-7

Account Recovery

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.

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CFPB Issues Report on TransUnion, Experian, and Equifax

Consumer Finance

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.

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Council forced to write off over 1m of uncollected debts

UK debt collections

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.

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Everything You Need to Know About Crypto

Speaker: Ryan McInerny, CAMS, FRM, MSBA - Principal, Product Strategy

This exclusive webinar with Ryan McInerny will teach you all about cryptocurrency and NFTs! Register to learn more about identifying crypto transactions, crypto asset market trends, managing risk and compliance, and supporting customers and partners using crypto-based payments.

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2023 Is Here — And Big Questions on Student Debt Still Loom

Nerd Wallet

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. Loans Student Loans

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CFPB Publishes Rulemaking Agenda That Has Doubled in Size in Six Months

Account Recovery

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A Recap of New York Debt Collection Laws Passed in 2022

FFGN COLLECT NY

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.

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European Business late payment clampdown in 2023

UK debt collections

European regulators are looking to clamp down on late European business late payment payments in 2023. In the U.K,

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Effortless. Efficient. Enjoyable. Collection Software Built for Collectors.

Looking for a cloud-based collection platform that keeps track of accounts across teams, providing customizable workflows to keep collectors in sync with their collection strategy?

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Financial Actions Speak Louder Than Resolutions

Nerd Wallet

Tommy Tindall writes for NerdWallet. Email: ttindall@nerdwallet.com. The article Financial Actions Speak Louder Than Resolutions originally appeared on NerdWallet. Managing Money Paying Off Debt Personal Finance

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22 Companies Seeking Collection Talent

Account Recovery

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.

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Riparian Lines on a Subdivision Plat

Jimerson Firm

Ownership of waterfront property is very desirable in Florida and often involves unique real property considerations. As a result, a subset of real property law has emerged to address what is called “riparian rights.”

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Limited Company struggling with Debts? What are the options

UK debt collections

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.

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Exploring the Overlap: Cost Optimization and Digital Transformation

Speaker: Alex Jiménez, Managing Principal, Financial Service Consulting for EPAM

The largest banks have increased reserves for protection against deteriorating economic conditions. Should banks delay their digital transformation investments and focus on cost reductions? In this webinar, Alex Jiménez will walk us through that question and examine the prudent course of action.

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How to Get Paid for Surviving the Southwest Meltdown

Nerd Wallet

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. Travel Vacations & Trip Planning

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Senators Launch Inquiry into Medical Credit Cards

Account Recovery

A group of Senate Democrats, including Sen. Elizabeth Warren [D-Mass.] and Sen. Sherrod Brown [D-Ohio], the chair of the Senate Banking Committee, have opened an investigation into medical credit cards and the “potential harm they may inflict on patients.”

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APIs – The driver behind data management

On Guard

Have you been curious about how debtor statuses like credit limits appear based on filter options within an administration? These simple, but critical tasks within an administration are made possible through APIs.

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What Do Contractors Need to Know About Employee Duty of Loyalty and Ability to Compete

Jimerson Firm

We have seen a trend in the construction industry toward contractors requiring their employees to sign non-compete agreements. It has become fairly common practice. But what if your employees are not restricted by signed non-compete agreements?

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The Anti-Money Laundering Act of 2020: Initial Catalysts, Current Implications, and Future Impacts

Speaker: Elizabeth "Paige" Baumann, Founder and CEO of Paige Baumann Advisory, LLC

In this session, Elizabeth “Paige” Baumann will cover the Anti-Money Laundering Act of 2020, which also includes the Corporate Transparency Act. She'll take a deep dive into the catalysts that brought on the act, the current implications of the act, and what impacts the act has on the future of banking and finance.