CICM

AUGUST 14, 2023

We recently hit a 13,000 milestone on LinkedIn! To celebrate, here are 13 Best Practices in Credit Management and Collections. Have a Credit Policy Emphasise the importance your business places on managing financial risk by setting out your policies and procedures in a Credit Policy , which is made available to all staff. Having a Credit Policy defines what best practice looks like in your organisation and encourages consistency.

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Credit Management Collections Creditworthiness Collection Agencies 52

Taurus Collect

AUGUST 15, 2023

Navigating the intricate world of debt collection can be a challenging task for businesses of all sizes. It’s even more daunting when your focus should be on running and growing your business rather than chasing overdue payments. That’s why outsourcing debt collection services , particularly in key areas such as Manchester, can be the game-changer your business needs.

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Third-party Debt Collectors Collections Debt collector Debt Recovery 52

True Accord

AUGUST 15, 2023

When it comes to reaching consumers, it’s no secret that email has surpassed phone calls as the preferred method of communication. In fact, 59.5% of consumers prefer email as their first choice for communication. But just because your business sends emails to consumers doesn’t mean that your messages make it to their inbox. And if that email never reaches the intended recipient, it doesn’t matter what that customer’s preferred method of communication may be.

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Debt collector 74

Consumer Finance

AUGUST 16, 2023

Lender provided incentives to Realty Connect and other brokerages in exchange for mortgage referrals

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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.

FFGN COLLECT NY

AUGUST 15, 2023

The legal process of collecting debt owed in New York typically starts by filing a summons and complaint or a motion for summary judgment in lieu of a complaint demanding the exact amount owed to you. If the case is handled properly, subject to having the requisite documents , you should be able to get a default judgment for the amount demanded without requiring the involvement of a judge.

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American Profit Recovery

AUGUST 18, 2023

By Greg: Is it me, or did this summer fly by? I was blindsided the other day by my wife and daughter going school shopping. I mean, already ? It never ceases to amaze me how quickly the summer goes by. You can easily become overwhelmed by all the yardwork projects you haven’t started and all the fun family activities you talked about all winter but have not done yet.

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Prosperity Now

AUGUST 14, 2023

In a November 2022 blog post on the value of homeownership, the United States Department of Treasury noted that “the benefits have largely been perceived to outweigh the costs” to households and to the U.S. economy. To be clear, Treasury states, “(t)he benefits from homeownership have not been shared equally.

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Credit Corp

AUGUST 17, 2023

A FAFSA is an application for financial aid that determines your eligibility. This application will not appear on your credit report, and does not affect your credit score. Congratulations on your high school graduation! You put in a lot of hard work to get that degree, and you deserve to celebrate. This might be your last summer of “freedom,” but that doesn’t mean you don’t have any responsibilities to take care of.

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Account Recovery

AUGUST 16, 2023

Well, that didn’t take very long. A District Court judge in Michigan has dismissed a lawsuit that challenged an initiative from the federal government seeking to forgive $39 million of student loan debt, determining the plaintiffs lacked standing to sue.

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Student loans Student Loans Loans Government 246

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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

Consumer Finance

AUGUST 14, 2023

The United States has a long history of recognizing the sanctity of protecting against unwanted intrusions into our homes and our lives.

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Prosperity Now

AUGUST 15, 2023

State legislatures file, introduce and pass thousands of bills each year. This year, states introduced over 156,000 bills and passed 32,000 including resolutions.

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Troutman Sanders

AUGUST 18, 2023

In this episode of The Crypto Exchange , Troutman Pepper Partner Ethan Ostroff welcomes his colleagues Kim Phan and Addison Morgan to discuss the recent enforcement actions brought by the Federal Trade Commission (FTC) against Celsius Network and its co-founders. In addition to permanently banning Celsius Network from consumers’ assets, the FTC also fined the company a near record-breaking $4.7 billion.

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Trade 52

Account Recovery

AUGUST 18, 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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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

NCBA Law Practice Management Blog

AUGUST 18, 2023

Generally speaking, there are three types of reviews you’ll get online: great, middling and poor. You can ( and perhaps, should ) respond to every last one; but, each one requires a different level of tact. If you’re given a poor review online, you’re likely to be pretty peeved ; but, you can’t respond in kind, or release client confidences (ethics rules, people!

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Prosperity Now

AUGUST 13, 2023

Keeping employees, particularly employees of color, supported, happy and engaged in the workplace To understand workplace culture, employee satisfaction, and

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Troutman Sanders

AUGUST 18, 2023

On August 1, Maryland’s Office of Financial Regulation (OFR) issued guidance to “provide clarity on how [the OFR] views Earned Wage Access [EWA] products and to describe the requirements entities offering these products must adhere to.” Unfortunately, the guidance largely fails to deliver the promised clarity. The OFR states that EWA products allow “consumers to obtain access to wages that they have earned but not yet received via employer payroll.

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Account Recovery

AUGUST 18, 2023

The Consumer Financial Protection Bureau yesterday announced a mortgage lender was being fined $1.75 million for providing illegal incentives to real estate brokers and agents for referring business to the lender, including cash payments, paid subscription services, and catered parties.

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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

NCBA Law Practice Management Blog

AUGUST 18, 2023

Have you ever had to write a client’s name over and over again – so many times , that you mess it up? They really hate that. How about adding the last of 5 children to an estate plan ? Now, was her middle name Elise of Eliza ? Honestly, who even knows any more. These sorts of simple errors are really obnoxious for clients; but, it’s also totally understandable why attorneys commit them.

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Sawin & Shea

AUGUST 16, 2023

If you’re wondering “Can I file for bankruptcy without a lawyer?” The answer is yes. The option to file for bankruptcy without an attorney, known as Pro Se bankruptcy, is available under the United States bankruptcy law. Many individuals choose this path in an attempt to save money on attorney fees because it is one of the cheapest ways to file bankruptcy.

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Troutman Sanders

AUGUST 17, 2023

At a White House Roundtable on protecting Americans from allegedly harmful “data broker” practices, Consumer Financial Protection Bureau (CFPB or Bureau) Director Rohit Chopra announced the Bureau’s intention to expand the reach of the Fair Credit Reporting Act (FCRA) to data brokers. He stated, “Next month, the CFPB will publish an outline of proposals and alternatives under consideration for a proposed rule.

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Trade 52

Account Recovery

AUGUST 18, 2023

A computer glitch accidentally added an individual’s name to an apartment lease document, which was then assigned to a debt collector for recovery. When the individual disputed the debt, the collector sent an email to the creditor seeking additional information, then deleted the information from the individual’s credit report four months later.

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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

Taurus Collect

AUGUST 15, 2023

Navigating the complex world of debt collection can be a challenging task, especially when success rates are not always guaranteed. However, adopting a ‘No Cure No Pay’ approach to debt collection in the UK can significantly alter this landscape. This innovative strategy, which promises fees only upon successful collection of the debt, offers a risk-free avenue for businesses to recover their unpaid dues.

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Prosperity Now

AUGUST 14, 2023

A year ago, we officially launched the Affordable Housing Network Steering Committee, affectionately referred to as the AHNSC by its members. The AHNSC is a 12-person committee and serves as a trusted advisor to Prosperity Now staff to help build, improve and engage the Network toward our mission of a housing system in which people of all races and economic backgrounds have access to affordable, safe and stable housing opportunities.

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Troutman Sanders

AUGUST 17, 2023

Corporate theft can happen in any workplace, but in the world of financial services, the theft can also create regulatory and litigation exposure for financial institutions. What type of employee is most likely to steal from the company or its customers? What can companies do to combat this? Partners Tracey Diamond and Evan Gibbs chatted with Troutman Pepper Partner Chris Willis about the popular movie Office Space, employee misconduct, and creative uses of technology to protect against corporat

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Financial Institution Financial services 52

Account Recovery

AUGUST 18, 2023

Paying debts in the United States is optional for consumers and relies upon consumers feeling “morally bound” to repay the debts, according to an essay that was published last week and is starting to get picked up by different news sites across the country.

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