Sat.Aug 03, 2024 - Fri.Aug 09, 2024

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A culture of helping makes this one of the best places to work

American Profit Recovery

American Profit Recovery is a great place to build a career. Since 2008 we have been ranked as one of the best places to work in collections. And that comes straight from our team members. For over a decade, we’ve gone through a time-consuming survey process that methodically ranks the best places to work in the collection industry. And it is well worth the effort.

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Top 5 Financial Mistakes Businesses Make and How to Avoid Them

Enterprise Recovery

Navigating the financial landscape of business operations can be daunting, regardless of the company's size. From small startups to large corporations, financial challenges constantly require careful planning and strategic decision-making. Whether managing cash flow, setting financial goals, staying compliant with taxes, or planning for growth, businesses must proactively address these challenges to ensure long-term success and sustainability.

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CFPB Takes Action Against Credit Repair Cloud and CEO Daniel Rosen for Enabling Credit Repair Companies that Harvest Illegal Fees

Consumer Finance

The CFPB filed a proposed order to resolve its lawsuit against Credit Repair Cloud and CEO Daniel Rosen for assisting businesses that charge illegal advance fees to consumers.

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Defendants in CFPB Credit Repair Fee Suit to Pay $3M

Account Recovery

The Consumer Financial Protection Bureau yesterday announced an enforcement action against Credit Repair Cloud and its CEO, Daniel A. Rosen, for their role in aiding credit repair businesses that charged illegal advance fees to consumers.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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Debt Collection: The Art and Science of Mental Rehearsal

American Profit Recovery

What is Mental Rehearsal? When learning about mental rehearsal, it’s important to understand that it is a proven tactic that can help anyone who wants to improve the way they perform. It has been put through the process of the scientific method with consistently reproducible results. Mental Rehearsal Definition Mental rehearsal is the act of using your internal voice and practicing a task inside your mind without the need to physically act it out.

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CFPB Report Finds Lenders Cramming Markup Fees and Confusing Terms into Solar Energy Loans

Consumer Finance

The CFPB issued a report finding that some residential solar lenders are misleading homeowners and cramming markup fees into borrowers’ loan balances.

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Highlights from Encore Capital’s Earnings Call

Account Recovery

Encore Capital reported net income of $32 million for the second quarter of 2024, up from $26 million during the same period a year ago.

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Why Placing Accounts for Collections is Better than Filing an Insurance Claim

Debt RR

When faced with unpaid debts, businesses often consider either placing accounts with a collections agency or filing an insurance claim to recover losses. While both options have their merits, placing accounts for collections offers several distinct advantages that make it a more effective and efficient solution. Higher Recovery Rates Collections agencies specialize in debt recovery.

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Two-fer: Law Firms Need to Consider the Second Phase of the Client Intake Process

NCBA Law Practice Management Blog

Generally speaking, most law firm intake systems need a whole heck of a lot of work. But, while many law firms lose leads through their client journey, that probably could have been converted – there is one thing that law firms usually get right, in the intake process. Law firms tend to generate short initial intake forms, which is great – because legal consumers don’t want to jump through a lot of hoops before they’re allowed to talk to their potential attorney.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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Consumer advisory: Steer clear of costly and complex loans for solar energy installation

Consumer Finance

People can submit complaints about solar loans with the CFPB and with other federal and state agencies.

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Highlights from Rohit Chopra’s Reddit AMA

Account Recovery

Rohit Chopra, the director of the Consumer Financial Protection Bureau, went on Reddit yesterday and did an AMA (Ask Me Anything). For an hour, Chopra answered questions from Reddit users about medical debt and the Bureau’s proposed rule on medical debt credit reporting. Comments on the proposal are due Tuesday, August 12.

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How to Get the Most Impact When Working to Improve Your Credit Score

Direct Recovery

Working to improve your credit score can be a difficult undertaking due to the fact that you never really know for sure how much impact any given action will have on your score, or how long it will take for those changes to show up. If you are working to improve your score, you likely have a target number in mind and a deadline you need to hit, which means that you absolutely must get the most impact possible on every action you take.

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All Together Now: If You’re Not a Solo, You Need a PreNup

NCBA Law Practice Management Blog

Any divorce lawyer, if they could get to a client when they were about to get married , would advise a prenup. Similarly, and more relevant to the current topic, any business or corporate attorney would tell any partners in a business venture, to make sure to sign a partnership agreement or operating agreement before joining together. The thesis for both scenarios is pretty similar , in that i t presumes the ‘ un’happy ending – which no one wants to think about before starting a new journey, eve

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Agent Tooling: Connecting AI to Your Tools, Systems & Data

Speaker: Alex Salazar, CEO & Co-Founder @ Arcade | Nate Barbettini, Founding Engineer @ Arcade | Tony Karrer, Founder & CTO @ Aggregage

There’s a lot of noise surrounding the ability of AI agents to connect to your tools, systems and data. But building an AI application into a reliable, secure workflow agent isn’t as simple as plugging in an API. As an engineering leader, it can be challenging to make sense of this evolving landscape, but agent tooling provides such high value that it’s critical we figure out how to move forward.

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Aviso al consumidor: Manténgase alejado de los préstamos costosos y complejos para la instalación de energía solar

Consumer Finance

Las personas pueden presentar quejas sobre préstamos para energía solar ante el CFPB y otras agencias federales y estatales.

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Daily Digest – August 9. Separate Suits Accuse Different Defendants of Not Honoring Cease Requests; Defendants in CFPB Credit Repair Fee Suit to Pay $3M

Account Recovery

Separate Suits Accuse Different Defendants of Not Honoring Cease Requests Defendants in CFPB Credit Repair Fee Suit to Pay $3M Highlights from Encore Capital’s Earnings Call Highlights from Rohit Chopra’s Reddit AMA on Medical Debt Credit Reporting Proposal WORTH NOTING: You think you could win a bronze medal while suffering with COVID?

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London Lions Administration: A Helping Hand From Hudson Weir

Hudson Weir

Hudson Weir have been appointed as administrators for the reigning British Basketball League champions, the London Lions. Joint administrators Hasib Howlader and Nimish Patel – both Licensed Insolvency Practitioners – have stepped in to guide the club through this challenging time and are currently searching for a buyer. The Lions men’s and women’s teams are both reigning British champions and the women were crowned winners of the EuroCup when they beat Turkish giants Besiktas in Apr

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Bank Account Number – Everything You Need to Know

Payment Savvy

Financial transactions revolve around various numerical identifiers that ensure secure and precise processing. These identifiers are fundamental, from the bank account number on checks to the digits on your credit card. Understanding these identifiers can help you manage your finances more effectively and avoid potential transaction pitfalls. As financial technologies evolve, keeping abreast of these fundamentals remains crucial for personal and business financial health.

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Future-Proof Your Firm: Smarter Tech for Stronger Returns & Simpler Workflows

Speaker: Joe Wroblewski, Senior Sales Engineer

Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!

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Prepared Remarks of CFPB Director Rohit Chopra at the Treasury Roundtable on Solar Financing

Consumer Finance

Director Rohit Chopra delivered remarks about preventing predatory lending in the residential solar market.

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Separate Suits Accuse Different Defendants of Not Honoring Cease Requests

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. 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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Stretch Big: Setting a Revenue Goal is the Simplest Way to Make More Money

NCBA Law Practice Management Blog

Law firm owners are heavily focused on revenue; but, maybe: not in the right way. Because, when I say that law firm owners are ‘focused on revenue ’, I really mean that they ‘worry about it constantly ’. But, that’s not productive. A more productive way to express your concern over the revenue your business generates is to focus on growth. The simplest step that a managing lawyer can take, in the right direction, when it comes to revenue growth, is to just set a goal.

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Is buying a house with a sibling a good idea? 5 steps for success

Credit Corp

Coming up with the money you need to buy a house can seem out of reach for many people to do alone. According to a recent survey, about half of Americans are willing to split the cost of buying a home with someone else. Buying a home with your sibling may help you pool your resources and get into a nicer home than you could afford alone. But there are a few steps you’ll want to take to make sure the experience is a positive one.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

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LL Flooring files for bankruptcy and will close 94 stores

Collection Industry News

LL Flooring, formerly known as Lumber Liquidators, has filed for bankruptcy and will close 94 of its stores across the United States. But the retailer is not liquidating itself immediately, as the company recently announced that it had entered Chapter 11, which allows for a re-organization rather than a wind-down of the business. Instead, LL Flooring will use the process to seek a sale of the 30-year-old business, which said it’s in “active negotiations with multiple bidders,” according to a pre

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Daily Digest – August 8. Getting to Know Karin Dussault of First Financial Resources; Los Angeles County Wants to Scrutinize Hospitals’ Medical Debt

Account Recovery

Getting to Know Karin Dussault of First Financial Resources Los Angeles County Wants to Scrutinize Hospitals’ Medical Debt, Including Accounts Placed with Collection Agencies Appeals Court Affirms Ruling for CRA in FCRA Case, But Dissenting Opinion Says ‘Critical’ Evidence was Overlooked PRA Group Reports Higher Profits, Shares Update on Impact of Turnaround Plan WORTH NOTING: […]

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Appeals Court Affirms Ruling for CRA in FCRA Case, But Dissenting Opinion Says ‘Critical’ Evidence was Overlooked

Account Recovery

Dates or dashes. What do they mean and how are they to be used in a consumers’ credit report?

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Los Angeles County Wants to Scrutinize Hospitals’ Medical Debt, Including Accounts Placed with Collection Agencies

Account Recovery

Los Angeles County, the largest county in the United States — with nearly 10 million residents — is on the cusp of enacting an ordinance that could reshape how hospitals manage and report medical debt.

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Operational Strength Starts with People: The New Rules of Finance Leadership

Speaker: Melissa Hurrington

What’s holding finance teams back isn’t just process inefficiency. It’s culture gaps, reactive mindsets, and missed opportunities to lead real change. In an era of disruption, finance leaders can no longer afford to operate on autopilot and the most resilient teams aren’t just efficient—they’re connected, talent driven, and culture-focused. Join Melissa Hurrington for an exploration into how finance leaders can evolve beyond process and numbers to create adaptive, people-powered teams that thriv