American Profit Recovery

MARCH 30, 2023

One of the more frustrating parts of running any type of business is when customers pay late or do not pay at all. We’re confident you would agree with that statement. As a debt collection agency that works with small business and large organizations, we hear the disappointments regularly from people just like you we are consulting with. When we conduct our free consultations for debt collections , it’s one of the first things we hear.

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Collections Collection Agencies Collections Agency Fair Debt Collection 130

Account Recovery

MARCH 30, 2023

A Pennsylvania collection agency has filed a data breach notification with the Maine Attorney General, indicating that nearly 500,000 consumers were affected by the breach, which occurred last month. A copy of the sample letter that was sent to affected consumers by NCB Management Services can be accessed by clicking here. The breach occurred on … The post Agency Discloses Data Breach, Information on 500k BofA Customers Compromised first appeared on AccountsRecovery.net.

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Collection Agencies Collections Agency Collections 219

JMA

MARCH 27, 2023

Debt collection is an important aspect of financial management for businesses and individuals. It involves pursuing unpaid debts and overdue payments from customers or clients. While debt collection can be a challenging and complex process, effective techniques can help businesses recover their debts and maintain their cash flow. In Australia, debt collection is regulated by.

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Collections 52

Consumer Finance Watch

MARCH 29, 2023

Diana M. Eng, Louise Bowes Marencik, and Jonathan K. Moore ● Entities regulated by the Consumer Financial Protection Bureau (“CFPB”), including banks, credit unions, payday lenders, mortgage servicers, debt collectors, and other financial services providers, should take note that the Second Circuit has … Continue reading → The post Second Circuit Holds CFPB’s Funding Structure Is Constitutional appeared first on Consumer Finance Watch.

Credit Unions 52

Credit Unions Credit Unions Debt collector Financial services 52

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.

Collections Law

MARCH 27, 2023

When you have a commercial debtor who won’t pay but stays in business, they’re using your money to stay afloat. We called this “creditor financing.” Worse, they may be using your money to buy materials from your competitors. This is a battle for control of the money. Your debtor claims they cannot pay (“CANOPS”), but they’re still in operation. It’s more likely they will not pay (“WILLNOPS”).

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Debtor Creditors Judgment Collection Agencies 52

Account Recovery

MARCH 31, 2023

A District Court judge in Illinois has granted a defendant’s motion for summary judgment, ruling that the verification information it sent to the plaintiff was sufficient to validate and debt and that it was not a false or misleading act to place the account with another agency while it was being disputed with the original … The post Judge Grants MSJ for Defense in FDCPA Case Over Validation Requests first appeared on AccountsRecovery.net.

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Judgment 130

Troutman Sanders

MARCH 27, 2023

The Federal Reserve issued a press release announcing its plans for a July debut of FedNow , its service “to facilitate nationwide reach of instant payment services by financial institutions.” As previously discussed here , the FedNow service will provide individuals and businesses the ability to send and receive instant payments through the Federal Reserve’s Fedline® network at any time of day seven days a week.

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Financial Institution Banks Bankruptcy 119

Consumer Finance

MARCH 29, 2023

The Consumer Financial Protection Bureau (CFPB) has finalized a rule required by Congress to increase transparency in small business lending, promote economic development, and combat unlawful discrimination.

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Financial services Loans 108

Credit Corp

MARCH 30, 2023

Quick answer box A money market account is an interest-earning savings account, with some features of a checking account. Saving money is the best way to prepare for unexpected life events and take control of your finances. But where is the best place to save your money? If you’ve been researching different savings accounts, you may have wondered, “What is a money market account?

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Credit Unions Credit Unions Banks Government 97

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Collections

Account Recovery

MARCH 31, 2023

COMPLAINT ACCUSES COLLECTOR OF CALLING AT INCONVENIENT TIME The Fair Debt Collection Practices Act prohibits collectors from communicating with consumers at times and places known by the collector to be inconvenient to the consumer. But what the FDCPA doesn’t necessarily do is draw the line that defines when a collector has been told that he … The post Daily Digest – March 31.

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Fair Debt Collection Collections 130

Troutman Sanders

MARCH 31, 2023

On March 23, SB 1033 , An Act Concerning Various Revisions to the Banking Statutes, was given a favorable report by the Legislative Commissioners’ Office and sent to the Connecticut Senate. With this bill, Connecticut hopes to join several other states that have set strict rate caps on consumer loans, including Illinois, New Mexico, Colorado and California, and those that expressly provide for a predominant economic interest test for true lender purposes.

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Banks Retail Loans Lender 98

Consumer Finance

MARCH 27, 2023

Today, the Consumer Financial Protection Bureau (CFPB) announced it has determined that state disclosure laws covering lending to businesses in California, New York, Utah, and Virginia are not preempted by the federal Truth in Lending Act.

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Loans 94

Nerd Wallet

MARCH 29, 2023

Anna Helhoski writes for NerdWallet. Email: anna@nerdwallet.com. Twitter: @AnnaHelhoski. The article Is the Remote Work Boom Busting? originally appeared on NerdWallet.

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Collections

Account Recovery

MARCH 31, 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? Call … The post Complaint Accuses Collector of Calling at Inconvenient Time first appeared on AccountsRecovery.net.

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Sawin & Shea

MARCH 28, 2023

If you’re considering filing Chapter 7 or Chapter 13 bankruptcy, you need to be aware of the different components of the filing process, including the role of the bankruptcy trustee. The court-appointed bankruptcy trustee plays a vital role during bankruptcy because they represent debtors’ estates and will make recommendations to the bankruptcy court.

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Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Creditors 81

Credit Corp

MARCH 30, 2023

Getting a credit card is like taking a step toward financial adulthood. It brings you into the world of building credit and paying bills, which almost everyone has to deal with at some point, so it can help to get started as soon as possible. But the “firsts” of adulthood aren’t always easy, and that includes getting your first credit card.

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Student loans Student Loans Loans Education 103

Nerd Wallet

MARCH 28, 2023

Holden Lewis writes for NerdWallet. Email: hlewis@nerdwallet.com. Twitter: @HoldenL. The article Should You Lower Your Mortgage Rate With Discount Points? originally appeared on NerdWallet.

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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

Account Recovery

MARCH 31, 2023

A collector is not obligated to include a notification that the statute of limitations on a debt has expired as long as it does not initiate or threaten legal action on the debt, the Pennsylvania Superior Court ruled yesterday in affirming a lower court’s decision. A copy of the ruling in the case of Matteo … The post Pa. Appeals Court Affirms Ruling That SOL Disclosure Not Required in Late Letters first appeared on AccountsRecovery.net.

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Fraser

MARCH 28, 2023

Background In McLaren Macomb , 372 NLRB No. 58 (2023), the National Labor Relations Board (“Board”) overruled two prior decisions and held that an employer violates the National Labor Relations Act (NLRA) “when it proffers a severance agreement with provisions that would restrict employees’ exercise of their NLRA rights,” including agreements containing reasonably standard confidentiality-of-agreement and non-disparagement provisions.

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UK debt collections

MARCH 29, 2023

Liquidators have listed 61 creditors owed a combined total of £1.14m after luxury car retailer Autovogue slipped into liquidation this month. Documents filed with Companies House yesterday (March 26) showed that BCA Partner Finance was the main creditor of Staffordshire-based Autovogue, which ceased trading in February – leaving a trail of dissatisfied customers.

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Retail Trade Manufacturing Creditors 59

Nerd Wallet

MARCH 27, 2023

Sarah Schlichter writes for NerdWallet. Email: sschlichter@nerdwallet.com. The article Why You Might Want Flood Insurance — Even if It’s Not Required originally appeared on NerdWallet.

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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

Account Recovery

MARCH 30, 2023

Building is in Peter Campisi’s blood. Whether helping his father who was a home improvement contractor or helping build Sunrise Credit Services during his 33 years at the company, Campisi likes to get his hands dirty and be involved. It also speaks to his mantra of building people and letting them build a business. Read … The post Getting to Know Peter Campisi of Sunrise Credit Services first appeared on AccountsRecovery.net.

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FFGN COLLECT NY

MARCH 31, 2023

Whether the defenses raised by the debtor are valid or not, a debtor defending a debt collection case can delay collection. A debtor can buy themselves time just by filing an answer to the summons and complaint. The amount of time afforded depends on the court’s caseload and the timeframe to hear the case at trial. That is unless your case includes undisputed facts.

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Judgment Collections Debtor Education 52

UK debt collections

MARCH 28, 2023

Pressure on our legal system is causing unacceptable delays when landlords seek resolution through the courts for tenancy issues. That’s according to property rental service provider LegalforLandlords , whose staff have collated a list of issues they believe show landlords are expected simply to ‘grin and bear it.’ Examples cited vary in their severity, but one factor, in particular, is causing concern.

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Nerd Wallet

MARCH 28, 2023

John Rossheim writes for NerdWallet. Email: USexpansion@nerdwallet.com. The article Does Online Therapy Work? originally appeared on NerdWallet.

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