Sat.Aug 15, 2020 - Fri.Aug 21, 2020

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Judge Sides With CFPB in CID Case Against Collection Law Firm

Account Recovery

A District Court judge in New York has sided with the Consumer Financial Protection Bureau and agreed to enforce a Civil Investigative Demand that was sent to a collection law firm, a decision that the law firm’s lawyer has said will be appealed. The CFPB’s case against the Law Office of Crystal Moroney began more … The post Judge Sides With CFPB in CID Case Against Collection Law Firm appeared first on AccountsRecovery.net.

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When Good Clients Go Bad: How to Select the Best B2B Collections Agency

Enterprise Recovery

Just like when any relationship turns sour, you're left dealing with the things you couldn't agree on. Unfortunately, when your good business clients refuse to pay or communicate, it may be time to bring in a mediator to ensure your assets are protected and your agreement holds up. Whether you've decided to escalate their continued late payments, write off their account as bad debt or pursue litigation, you don't have to do it alone.

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Improve Patient Engagement for Hospitals & Medical Offices

Nexa Collect

In many ways, it doesn’t matter how knowledgable a doctor is, or how much they care for their patients if the patients aren’t actively engaged in their care. That’s because unless they’re willing to follow their doctor’s advice and do what it takes to stay healthy, the quality of service means nothing. That’s why, in a patient-centered care model, patient engagement is critical.

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Federal Loans Are Paused Until 2021 — Should You Pay Anyway?

Nerd Wallet

Payments are currently suspended, without interest, for federal student loan borrowers until Dec. 31. Originally, a six-month suspension was announced in mid-March as part of a measure included in the coronavirus relief package. It was extended until the end of the year by an executive order. This policy applies only to federal loans, not to. Anna Helhoski is a writer at NerdWallet.

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

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.

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Final CCPA Regs Issued by California AG

Account Recovery

The Office of Administrative Law — the agency in California that is responsible for dotting the i’s and crossing the t’s of new regulations — has officially signed off on the final version of the California Consumer Privacy Act, and those approved regulations are now in effect, according to a press release from California Attorney … The post Final CCPA Regs Issued by California AG appeared first on AccountsRecovery.net.

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Who is a Certified Revenue Cycle Representative? CRCR Exam Information

Nexa Collect

Revenue cycle management in healthcare is a critical discipline. It keeps the lights on and maintains a practice’s ability to see patients. Without it, efficient data collection and patient billing aren’t possible. And with healthcare complexity increasing year upon year, the hunt for qualified individuals assumes a higher priority. Certified revenue cycle representatives (CRCRs) are revenue professionals with specialized credentials that ensure they have the knowledge, skills, and attitude need

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College Going Online? Student Loans Still Cover Living Costs

Nerd Wallet

Attending college from a laptop in your childhood bedroom might not be the experience you had in mind. But just because you’re not living in a dorm this fall doesn’t mean that expenses disappear. Your cost of attendance might have changed if you’re learning remotely due to COVID-19, but colleges will factor at-home or off-campus. Anna Helhoski is a writer at NerdWallet.

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Judge Certifies Class in FDCPA Case Over Lack of License

Account Recovery

A District Court judge in Utah has certified a Fair Debt Collection Practices Act class action case which accused a defendant of pursuing judgments on defaulted debts without registering as a debt collector in the state. A copy of the ruling in the case of Lawrence v. First Financial Investment Fund V can be accessed … The post Judge Certifies Class in FDCPA Case Over Lack of License appeared first on AccountsRecovery.net.

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How Much Money Do You Need to Buy a House?

Credit Corp

According to the U.S. Census Bureau, the median sales price of new homes in May 2020 was around $317,000. Even if you’re purchasing a home that falls well below that average, chances are it’s one of the most expensive things you’ll ever buy. With such a big expense, you might be wondering—how much do you need to save for a house? The good news?

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When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

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.

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Why Your “Calling Identity” Matters

Arbeit Software

Identifying yourself as a trusted, legal caller is the first line of defense in mitigating improper call blocking and labeling events.

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Retirement Investments: A Beginner’s Guide

Nerd Wallet

Advancements in medicine and technology are helping us live longer than ever before. But the prospect of living in retirement for up to 40 years — often the same time frame an individual spends working — makes saving and planning all the more important. Yet saving is only one piece of the retirement puzzle. Choosing. Tiffany Lam-Balfour is a writer at NerdWallet.

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Appeals Court Overturns FDCPA Case That Used BFE Defense

Account Recovery

The Ninth Circuit Court of Appeals has overturned a lower court’s ruling that granted summary judgment in favor of a debt collector that was sued for violating the Fair Debt Collection Practices Act because it was entitled to the Bona Fide Error defense, determining that the lower court erred in assessing the BFE test. A … The post Appeals Court Overturns FDCPA Case That Used BFE Defense appeared first on AccountsRecovery.net.

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Responding to a Statement of Claim in the Victorian Judicial System

Debt Recoveries

Author: Nathan Haynes of ADC Legal. Receiving a claim against you is a stressful experience for everyone and it is important to have a clear understanding of how best to respond. What is a Statement of Claim? A Statement of Claim is the document used to initiate legal proceedings. It contains a summary of the key facts supporting a plaintiff’s case.

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10 Ways to Improve Payment Collections with Salesforce

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.

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Rough Ride Ahead for Alabama Landlords and Tenants Despite Reopening Efforts

Burr Forman

Like the majority of the country, Alabama essentially shuttered its economy in March in an effort to curb the rapid spread of COVID-19. As of July 2020, the State of Alabama began rapidly reopening for business, and retail and commercial office space is no exception. Although Alabama initially implemented COVID-19 related protections via Governor Ivey’s Executive Order dated April 3, 2020, this Order only protected residential tenants from eviction due to nonpayment of rent until June 1, 2020.

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9 Best Bank Bonuses and Promotions of August 2020

Nerd Wallet

Bank promotions consist of cash bonuses when you open a new checking or savings account. To qualify for this one-time perk, you’ll likely have to set up direct deposit with the bank and keep the account open for at least a few months. Some banks have looser rules than others; we’ve outlined those requirements below. Alice Holbrook is a writer at NerdWallet.

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Daily Digest – August 17. Judge Grants MSJ For Plaintiff in FDCPA Case; Judge Denies Stay in TCPA Case

Account Recovery

JUDGE GRANTS MSJ FOR PLAINTIFF IN FDCPA CASE OVER BFE DEFENSE A District Court judge in Indiana has adopted a Magistrate Judge’s Report and Recommendation that grants summary judgment in favor of a plaintiff who sued a collection agency for violating the Fair Debt Collection Practices Act for sending a letter to the plaintiff after … The post Daily Digest – August 17.

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Thriving In Third Party Debt Collection: An Interview with John Bedard

PDC Flow

This year has seen vast, unexpected change for the credit and collection industry. As many professionals work to navigate this new world of remote work and prepare for the months to come, attorney John Bedard has been a dominant voice, guiding collectors through the struggle. We recently spoke to Bedard about his journey in the industry, his observations on doing business during Covid19, and his vision for the future of the industry.

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Connect, Care, Convert: Secrets to Establishing Trust with Niche Markets and Turning Them Into Clients

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?

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Consumer Financial Protection Bureau Settles with Third Mortgage Company to Address Deceptive Loan Advertisements Sent to Servicemembers and Veterans

Consumer Finance

The Consumer Financial Protection Bureau issued a consent order against Go Direct Lenders, Inc. (Go Direct), a California corporation that is licensed as a mortgage broker or lender in about 11 states.

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For online grocery delivery, add fees to the list

Nerd Wallet

I haven’t set foot in a grocery store in nearly four months. With a 10-month-old baby to think about, my husband and I have kept trips to the store to a minimum out of an abundance of caution during the pandemic. We’re fortunate to have just about every grocery delivery service at our disposal —. Lauren Schwahn is a writer at NerdWallet. Email: lschwahn@nerdwallet.com.

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Judge Grants MSJ For Plaintiff in FDCPA Case Over BFE Defense

Account Recovery

A District Court judge in Indiana has adopted a Magistrate Judge’s Report and Recommendation that grants summary judgment in favor of a plaintiff who sued a collection agency for violating the Fair Debt Collection Practices Act for sending a letter to the plaintiff after she had communicated that she was refusing to repay the debt. … The post Judge Grants MSJ For Plaintiff in FDCPA Case Over BFE Defense appeared first on AccountsRecovery.net.

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How to Remove MRS BPO LLC From Your Credit Report

Better Credit Blog

Nothing is quite as panic-inducing as receiving a call from a debt collector. Not only are they notoriously rude, but having a debt collector on your tail can mean that your credit score is about to take a dive. If you have heard from a debt collector called MRS BPO LLC recently, you may already be aware of this and looking for a way to fix the situation.

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ERM Program Fundamentals for Success in the Banking Industry

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?

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Consumer Financial Protection Bureau Proposes New Category of Qualified Mortgages to Encourage Innovation and Access to Affordable Mortgage Credit

Consumer Finance

The Consumer Financial Protection Bureau issued a notice of proposed rulemaking to create a new category of seasoned qualified mortgages in order to encourage innovation and help ensure access to responsible, affordable in the mortgage credit market.

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Losing Employee Life Insurance Due to Job Loss: What’s Next?

Nerd Wallet

The coronavirus pandemic continues to disrupt the U.S. economy as businesses both big and small cut back, close and declare bankruptcy. Consequently, a reported 16.3 million Americans were unemployed in July compared to just over 6 million the previous year, according to the Bureau of Labor Statistics. In addition to losing their paychecks, many Americans.

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Industry veteran Loraine Lyons joins Malone Frost Martin PLLC 

Account Recovery

DALLAS, Texas — Malone Frost Martin PLLC, a leading industry defense and compliance law firm, is very pleased to announce that industry veteran Loraine Lyons has joined the team as a Partner in the Compliance and virtual General Counsel services division. Loraine joins Malone Frost Martin with over 20 years of experience exclusively in the accounts … The post Industry veteran Loraine Lyons joins Malone Frost Martin PLLC appeared first on AccountsRecovery.net.

Law Firms 246
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Is It Okay To Pay Just The Minimum On Credit Card Debt?

Debt Guru

Whether your financial goals are as simple as building a small emergency fund or as complex as savings and investments for retirement, few things can derail your plan faster than debt. That is why most experts and financial planners suggest prioritizing debt repayment first, before many other goals, and recommend paying down that debt as fast as possible.

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You Put in a Full Work Week. Shouldn’t Your Collections Software Do the Same?

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.