American Profit Recovery

JANUARY 12, 2024

You want to keep your hard-earned customers. We thought so! Sometimes as you well know, customers do not pay. But that does not mean you have to lose that customer. In many cases, something has prevented your customer from paying on time or meeting their financial obligations to your business. While there are obviously disputes that need to be worked out, sometimes a customer just needs a little time and assistance to get caught up with your business.

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Collection Agencies Collections Agency Collections 179

UK debt collections

JANUARY 11, 2024

Freelancers and contractors are becoming increasingly concerned about late payment of invoices with more than a quarter reporting some payments are settled at least 60 days late, new research shows. The study by Workwell & IPSE found nearly half (49%) are concerned about the ongoing issue of late payments with 11% saying they are very concerned.

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Enterprise Recovery

JANUARY 12, 2024

While much of your budget planning was likely done in the fourth quarter, it's never too late to set your business up for success in the new year. Financial planning is valuable at any time - whether you're evaluating your business investments or measuring why your cash flow is slow. Read further to discover essential financial planning tips for business owners to ensure long-term success and growth.

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True Accord

JANUARY 10, 2024

2023 brought a whirlwind of an economy, and we spent most of the year trying to predict when things would finally turn around. The good news is that things are looking up, and so are consumer sentiments on their financial outlook. Despite the optimism, consumers are still battling high prices and interest rates, though the holiday shopping numbers would make you think otherwise.

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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.

Troutman Sanders

JANUARY 12, 2024

In a change of course, the Utah court of appeals has reversed the dismissal of a plaintiffs’ suit against a debt collector based on its alleged failure to register as a collection agency prior to filing collection suits. While the Utah Collection Agency Act (UCAA) was repealed by the Utah legislature last year, discussed here , cases asserting this theory of liability remain pending before state and federal courts in the state.

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Collection Agencies Collections Agency Debt collector Collections 52

American Profit Recovery

JANUARY 9, 2024

If your business is at a point where you know you can improve cash flow, there are many things that you can address internally that can advance your chances of better cash flow. If you’re running a small business, you may be cleaning up your books anyway to hand them off to your CPA for tax season. So why not in the process, take a hard look at your accounts receivable process and make any necessary changes.

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Collection Agencies Collections Agency Collections 219

Consumer Finance

JANUARY 10, 2024

The Consumer Financial Protection Bureau issued guidance to consumer reporting companies to address inaccurate background check reports, as well as sloppy credit file sharing practices.

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PDC Flow

JANUARY 12, 2024

Courtney Reynaud , President and CEO of Creditors Bureau USA , has found success in her agency with careful attention to policies, procedures, and work instructions. But, she didn’t always have such a strong compliance management system. Before her office focused on these practices, she noticed blame would often be placed on a single employee or a client.

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Account Recovery

JANUARY 12, 2024

The Consumer Financial Protection Bureau yesterday released a pair of advisory opinions related to the Fair Credit Reporting Act — one addressing inaccurate background check reports and the other reminding credit reporting agencies that consumers have a right to their entire credit file any time it is requested.

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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.

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Credit Corp

JANUARY 12, 2024

A same-day credit card is also referred to as an instant-use credit card. When credit card providers offer this option, they provide tools that make it possible for you to make charges on the card immediately once you’re approved. This is in contrast to the traditional process, which requires you to wait for around two weeks until the actual credit card arrives via mail.

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Jimerson Firm

JANUARY 12, 2024

Over the past few years, I have seen a rising trend in consumer lawsuits alleging violations of the FCCPA relating to the residential landlord-tenant relationship. These lawsuits may also allege a violation of the Florida Residential Landlord Tenant Act (FRLTA). Oftentimes, the alleged violation is based upon a 3-day notice sent by the landlord or the management company.

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Consumer Collections Legal Rights Collections Banks 59

UK debt collections

JANUARY 8, 2024

Energy companies have been granted approval to resume force-fitting prepayment meters in people’s homes nearly a year after it was suspended. EDF, Octopus and Scottish Power can install the meters again after meeting various requirements set by Ofgem, the industry regulator. For years, energy companies were able to force-fit prepayment meters into homes when bills went unpaid.

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Account Recovery

JANUARY 12, 2024

Collector Facing FDCPA Class Action for Allegedly Not Accepting Insurance Information from Plaintiff Judge Dismisses FDCPA Suit Over Failure to Respond to Disputes CFPB Issues Advisory Opinions on FCRA Procedures Credit Bureau Removing All N.Y. Consumer Medical Debts From Reports Southwest Recovery Services Achieves 10X ROI with Skit.

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Credit Bureau 147

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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

Roths Child Law

JANUARY 12, 2024

Filing for bankruptcy is often treated as a last resort for those overwhelmed by debt, partially because there's a common misconception that it can lead to the loss of all of one’s personal assets. Thankfully, this is not accurate. Bankruptcy laws are designed not just to relieve debtors of their financial burdens, but also to allow them a chance to rebuild their financial future.

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Jimerson Firm

JANUARY 9, 2024

Trusts are an increasingly popular estate planning vehicle by which estate assets can be administered and distributed outside of probate court, often in place of more traditional wills. Like with wills, there can be disputes about the terms of the trust when a trust is created or changes are made late in the trust settlor’s life and the result is a significant change in favor of a particular beneficiary of the trust to the detriment of other beneficiaries or potential beneficiaries.

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Hudson Weir

JANUARY 12, 2024

If you’re not sure what a company limited by guarantee is or what happens when it is insolvent, you’ve come to the right place. A private company limited by guarantee, also known as a CLG, differs from one limited by shares. For a company limited by shares, shareholder liability is limited to the capital originally invested by creditors. As with companies limited by shares, those limited by guarantee (LBG) are also governed by the Companies Act 2006 in the UK.

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Account Recovery

JANUARY 11, 2024

Getting to Know Oussama Hamouti of January Judge Denies Competing Summary Judgment Motions in FDCPA Case Over Botox Purchase Title Lender Reaches $6M Settlement with Pennsylvania AG Tech Giants Take Stand Against Proposed CFPB Rule Solutions by Text and Prodigal Join Forces to Transform Consumer Finance with AI-Powered Intelligence WORTH NOTING: DuoLingo is replacing 10% […]

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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

Credit Corp

JANUARY 12, 2024

A credit card balance transfer is the practice of moving debt from one credit card account to another. Typically, this is done to obtain better interest rates. Reports show that the average credit card debt is nearly $8,000. This amount may seem impossible to pay off, especially if you have high interest rates or your debt is spread across several cards.

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Credit Card Debt Personal loans Loans 52

Troutman Sanders

JANUARY 12, 2024

On January 11, the Consumer Financial Protection Bureau (CFPB or Bureau) issued two “advisory opinions” addressing the CFPB’s views of the obligations of consumer reporting agencies (CRAs) under the Fair Credit Reporting Act (FCRA). The advisory opinions are interpretive rules issued under the Bureau’s authority to interpret the FCRA pursuant to § 1022(b)(1) of the Consumer Financial Protection Act of 2010.

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Price Meese

JANUARY 12, 2024

PMSD is proud to announce that Partner, Thomas C. Martin, Esq, will again attend the Transportation Lawyers Association Annual Mid-Winter Meeting and Conference between January 18, 2024 and January 19, 2024 at the Radisson Blu Hotel in Chicago. More information can be found at the Transportation Lawyers Association website: www.translaw.org. The post Thomas Martin to attend Transportation Lawyers Mid Winter Conference appeared first on Price, Meese, Shulman & D’Arminio, PC.

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Account Recovery

JANUARY 11, 2024

A District Court judge in Nevada has denied competing summary judgment motions from both parties in a Fair Debt Collection Practices Act case, ruling that it isn’t totally clear whether the debt in question — the purchase of Botox — is covered under the FDCPA. The Background: The plaintiff purchased Botox Aesthetic from a business.

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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

Sawin & Shea

JANUARY 11, 2024

Staring down mountains of debt can feel overwhelming. Medical bills, credit cards, payday loans, and struggling businesses – it can seem like the letters and calls from creditors will never stop. Bankruptcy filings for both individuals and businesses are on the rise. Since 2005, a debtor education course from an approved provider is mandatory for anyone who files for bankruptcy.

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Education Debtor Bankruptcy Chapter 13 bankruptcy 52

Troutman Sanders

JANUARY 12, 2024

On January 10, HB 254 , entitled the True Lender Act, was introduced before the Maryland House of Delegates. The Act would amend the Maryland Commercial Law to add an article containing both predominant economic interest and totality of the circumstance tests to determine the “true lender” of a loan. A hearing on HB 254 is scheduled on January 23. HB 254 contains an anti-evasion provision providing that a person must not attempt to evade the Act’s requirements by making, offering, assisting, or

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Consumer Finance

JANUARY 10, 2024

CFPB emitió directrices para las compañías de informes de crédito para que resuelvan la emisión de reportes de antecedentes inexactos, así como inapropiadas prácticas para la entrega de archivos crediticios.

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Account Recovery

JANUARY 10, 2024

DALLAS, TX, and MOUNTAIN VIEW, CA, January 10, 2024 – Solutions by Text (SBT), the enterprise messaging and payments platform for consumer finance businesses, today announced its partnership with Prodigal, the pioneer of AI-powered consumer finance intelligence.

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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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