Micro Bilt
JANUARY 25, 2024
Borrowers are defaulting on car loans at the highest rate in 27 years There are several reasons for the unprecedented growth in delinquencies. Below, we cover three primary issues causing financial stress on consumers in the current economic environment.
Account Recovery
JANUARY 26, 2024
While the number of consumers who can afford to pay a $1,000 emergency expense has remained largely unchanged for the past three years, the percentage of consumers who are putting less away for a rainy day is on the rise, largely due to inflation, according to data released this week by Bankrate.
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Consumer Finance
JANUARY 23, 2024
The Consumer Financial Protection Bureau proposed to block financial institutions from one potential source of new junk fee revenue – fees on instantaneously declined transactions.
Troutman Sanders
JANUARY 25, 2024
Last month, New York Governor Kathy Hochul signed into law Assembly Bill 2672 , which both prohibits sellers from charging a credit card surcharge greater than what they are charged by the credit card company and requires sellers to clearly post the price of the credit card surcharge. The law will take effect on February 11, 2024. Specifically, the law provides that any seller in any sales transaction imposing a surcharge on a customer using a credit card shall clearly and conspicuously post the
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.
Prosperity Now
JANUARY 21, 2024
In September, Prosperity Now launched the second iteration of the VITA Leadership Institute, through generous support from the Wells Fargo Foundation. The VITA Leadership Institute (VLI) aims to train a diverse class of ten emerging VITA leaders to build their capacity to expand and scale free, high-quality, and racially equitable tax preparation services for low-income taxpayers in their communities.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
UK debt collections
JANUARY 26, 2024
Luxury homes builder Kenham Building has called in administrators, with all staff made redundant. The west London firm appointed ReSolve partners Cameron Gunn and Chris Farrington as administrators after encountering cashflow problems. Kenham operated for 25 years but hit technical challenges related to groundworks on a large residential refurbishment scheme.
Credit Corp
JANUARY 26, 2024
Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers. Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. A credit card’s interest rate is obviously one of its most important factors.
Prosperity Now
JANUARY 23, 2024
As Congress is hard at work trying to keep the government from shutting down, they’ve also made progress on some critical legislation for families and children with a bipartisan tax package that expands the current Child Tax Credit.
Account Recovery
JANUARY 26, 2024
Collector Facing FDCPA Class Action for Not Honoring Terms of Settlement Judge Reduces Plaintiff’s Attorney Fee Award by 60% in FDCPA Case Medical Debt Bills in Maine Target Credit Cards, Debt Buying Less than Half of Consumers can Afford $1,000 Emergency Expense: Survey WORTH NOTING: A good news story for Friday — the smallest infant […]
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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.
UK debt collections
JANUARY 23, 2024
There has been a near 25% increase in the number of businesses in ‘critical’ financial distress, with firms in London and the south east topping the regional rankings, according to the latest Begbies Traynor ‘Red Flag Alert’ Nearly 40,000 companies, or 37,722 across the UK, are revealed to be in a ‘critical’ state in the third quarter this year – up 25% since the second quarter.
Credit Corp
JANUARY 24, 2024
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. The credit approval process varies based on the type of credit you seek. Credit cards can take several days, loans can range from days to weeks, and mortgages can take weeks to a month.
Prosperity Now
JANUARY 22, 2024
As chilly winter weather sets in across much of the country, here at Prosperity Now, our hearts are being warmed by a slew of action on Baby Bonds as the new legislative session kicks off in many states. So let it snow, let it snow, let it snow! We’ll be keeping nice and warm campaigning for every kid’s future in the halls of state legislatures!
Account Recovery
JANUARY 26, 2024
A District Court judge in Minnesota has awarded the attorney representing a pair of plaintiffs in a Fair Debt Collection Practices Act case $12,000 in fees, which was nearly 60% less than what the attorney was seeking.
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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.
UK debt collections
JANUARY 22, 2024
Referrals to bailiffs in England and Wales to recover unpaid council debts have risen by nearly 20%, a BBC investigation has found. Birmingham’s 500% rise in referrals between 2022 and 2023 topped the list of 280 councils that replied to a File on 4 Freedom of Information request. Figures suggest there is £500m of uncollected public debt each year, adding to councils’ strained finances.
Jimerson Firm
JANUARY 25, 2024
Shop drawings play a vital role in construction projects. Comprehensive construction contracts may define shop drawings to include diagrams, illustrations, schedules, and other data or information that are prepared or assembled by or for the contractor to illustrate some portion of a parties’ scope of work. Construction contracts may also include language as to the timing of shop drawing submission, as well as the parties’ rights and obligations for the submission of shop drawings.
Credit Corp
JANUARY 23, 2024
Although you’re allowed to sell your own home, doing so is a lot of work. Before you move forward, take time to consider the pros and cons of handling things on your own. If you’re thinking about putting your house on the market, you may be wondering whether you can sell your own home. Yes, you can, but don’t put up a For Sale sign just yet. Although you’re allowed to sell your own home, doing so is a lot of work.
Account Recovery
JANUARY 25, 2024
For a lot of companies that work with healthcare providers, collecting bad debt may just be one component of what that company does for its client. Many companies, for example, offer billing services or early-out collections, working accounts before they go into default and are considered to be bad debt.
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?
PDC Flow
JANUARY 25, 2024
Interactive Voice Response payments (IVR payments) are a common choice for companies that want to speed up payments and reduce staff workloads. Freeing up employees from menial tasks is the fastest way to optimize your office but is there a better way than IVR? Companies often turn to their IVR systems as a way to take payments over the phone but using a secure IVR payment system: Can be more expensive than other phone assisted payment options Creates a bad customer experience Relies on customer
NCBA Law Practice Management Blog
JANUARY 26, 2024
Ren & Stimpy were both right : There’s nothing that helps more in bringing in your next great employee, than praising the ones you already have. (Well, maybe they didn’t say that exactly.) Now, most hiring attorneys recognize that the office environment i s changing in a major way – and, that’s not only with respect to where lawyers practice law nowadays.
Hudson Weir
JANUARY 26, 2024
Restructuring plans are a relatively recent inclusion to the restructuring market. They were introduced back in 2020 under the Corporate Insolvency and Governance Act. The Corporate Insolvency and Governance Act 2020 was introduced in order to help businesses during the Covid-19 pandemic. As such, the restructuring plan is a powerful tool for business recovery.
Account Recovery
JANUARY 25, 2024
Getting to Know Jessica Fagen of The Moore Law Group Judge Grants MSJ for Defendant in Early Out Billing Lawsuit CFPB Proposes Rule Prohibiting Fees on Instantly Declined Transactions Penn.
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?
Qualco
JANUARY 26, 2024
Are you aware of how over-indebtedness, a significant issue within the European Union (EU), affects individuals, businesses, and the broader economy? Over-indebtedness refers to situations where debtors face difficulties meeting financial obligations due to immediate payment challenges or chronic issues like insolvency, where debts outweigh assets. The EU has undertaken several legislative measures to tackle over-indebtedness and provide relief for over-indebted individuals or entities, prioriti
TCPA
JANUARY 26, 2024
The United States District Court for the Eastern District of Missouri recently issued an opinion with significant implications for plaintiffs’ standing to allege violations of the TCPA under Article III. In the case of Thompson v. Genesco, Inc.
Collections Law
JANUARY 25, 2024
Anyone involved in any type of business knows that there will inevitably be a client or customer who does not pay their bill. Our experienced collection lawyers at the Law Offices of Alan M. Cohen & Associates LLC know and understand how frustrating it is to have customers who refuse to pay. We also know that letting those customers get away with not paying the money they owe is obviously bad for business.
Account Recovery
JANUARY 24, 2024
Judge Denies Motion for Reconsideration in FDCPA Case Over Bank Levy Healthcare Providers Most Concerned with Timely Collections: Survey California DMV Facing RFDCPA Class Action 20 Companies Looking for Collection Talent WORTH NOTING: For all of you road warriors — the best carry-on luggage … Five takeaways from last night’s New Hampshire primaries … Knowing […]
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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.
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