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With the onset of COVID-19, hiring & retention have become increasingly difficult in the debt collection industry. Not only that, but experts are predicting a major ramp-up in turnover as the pandemic begins to subside. Are you prepared? Employee onboarding experts, Mary Shores & Candace Burroughs , share their retention-boosting recruiting, interviewing, and onboarding best practices specifically for the debt collection industry.
Filing for bankruptcy is a process. As part of that process, the bankruptcy law requires that you get a certificate that evidences you did a pre-filing counseling session with an approved agency. Debt counseling (also called credit counseling) is required before you can declare bankruptcy. There is a pre-filing counseling and pre-discharge counseling.
Small Business late payment is severely hampering recovery from the pandemic according to new data. Delayed payment of invoices owed to SME’s over the past 12 months totals a shocking average of £130,445.05. Whilst late payment continues, this will only serve to hinder Small Business recovery in the second half of this year. The latest findings are according to survey data from Dun & Bradstreet.
The Federal Trade Commission has reached a $20 million settlement with a company accused of violating the Fair Credit Reporting Act by improperly obtaining individuals’ credit reports and the FTC’s Red Flags Rule for failing to implement an identity theft program. The company, Vivint Smart Homes, will pay a $15 million civil penalty and $5 … The post FTC Fines Company $20M For FCRA Violations appeared first on AccountsRecovery.net.
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.
I get it. It’s easy to shop on Amazon. Running low on toilet paper? Need lightbulbs? Want a bath caddy on a whim? With two clicks and even less thought, the item you need/want/desire is at your doorstep, often in 48 hours or less. Shopping locally requires more thought. Supporting small businesses is an intentional. Kelsey Sheehy writes for NerdWallet.
Collecting past due debts from your customers and clients is an unfortunate part of the accounts receivable process. It's 'unfortunate' because not every customer will pay on time but it doesn't have to be contentious or ugly. Your client will be aware of what they owe, when they owe and how to pay via your contract agreement. But even beyond that, there are steps you can take to ensure payment from your collections efforts.
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Collecting past due debts from your customers and clients is an unfortunate part of the accounts receivable process. It's 'unfortunate' because not every customer will pay on time but it doesn't have to be contentious or ugly. Your client will be aware of what they owe, when they owe and how to pay via your contract agreement. But even beyond that, there are steps you can take to ensure payment from your collections efforts.
Simple Answer: Once the bad debt entry hits the credit report, the fear in the debtor’s mind is gone. You just used the most effective tool in debt recovery before giving enough time to the debtor to settle your unpaid bills. The debtor thinks “ What worse can happen? “ Even if he makes payment later, the entry stays there, negatively impacting his credit score for the next 7 years.
A District Court judge in Washington has partially granted a defendant’s motion for summary judgment while denying a plaintiff’s motion for the same ruling in a Fair Debt Collection Practices Act case in which the defendant attempted to collect a debt from the plaintiff, who claims not to have incurred the debt in question. A … The post Judge Partially Grants MSJ for Defendant Accused of Attempting to Collect From Wrong Person appeared first on AccountsRecovery.net.
The average loan debt for a bachelor’s degree among the class of 2019 was $28,950, according to the most recent data available from The Institute for College Access & Success. The amount of debt you take on for college will depend on a variety of factors. The most important factors to consider are where you. Anna Helhoski writes for NerdWallet. Email: anna@nerdwallet.com.
In 2018, the Florida Legislature amended section 718.113 of the Florida Statutes to include a provision requiring that condominium associations allow unit owners to install electric charging stations in limited common element parking areas assigned to each unit owner. The statute does not apply to common element parking spaces. What’s the Difference?
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.
Debt can quickly mount if you don't aggressively address it early on. Many consumers who find themselves unable to pay their bills look to different debt relief options to gain a fresh financial start, including bankruptcy. Chapter 7 bankruptcy can provide you with that clean financial slate that you're looking for where you can wipe away most of your debts.
The “Getting to Know” series is sponsored by Applied Innovation. Applied Innovation is helping to shape the future of accounts receivable management. Product development is driven by customer feedback, agency profitability and compliance and includes platforms addressing client portal access, document management, payment negotiation, Regulation E focused electronic payment authorizations and TCPA communication authorization platforms. … The post Getting to Know Amy Stratz of FB
Anyone who hasn’t been a business owner may romanticize the idea of “being an entrepreneur.” It’s easy to picture glamorous CEOs who have it all together and take home large salaries. But if you have been an entrepreneur, you know the life of a business owner is rarely that simple, especially when it comes to a small. Meredith Wood writes for NerdWallet.
Hey debt fighters! I wanted to let you know about some upcoming FREE and low-cost events that I thought you might be into. And before we get started, I want… Related Posts: Come to My Money Party Tonight. Free Debt Workshop Tomorrow. Resources for Taking Care of Your Mental Health and Wealth. My New Podcast the Mental Health and Wealth Show Is Here.
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.
As a subcontractor, payment for your work is critical. If a subcontractor is not getting paid on a construction project, there are some important things to consider, including whether the general contractor has grounds to withhold payment, whether the subcontractor can stop the work, and how a subcontractor can best ensure payment from the general contractor.
There appears to be a racial component to consumer complaints filed with the Consumer Financial Protection Bureau, according to data released yesterday by the regulator, including complaints related to debt collection. Overall, consumers living in counties with the highest percentage of minority populations submitted four times as many complaints as those living in counties with … The post CFPB Publishes County-by-County Breakdown of Consumer Complaints appeared first on AccountsRecovery.n
Congress has appropriated more than $46 billion in emergency assistance to help cover back rent and utilities owed by struggling renters. But getting a share of that money isn’t automatic or guaranteed. Not everyone who’s behind on their rent qualifies for help. In addition, some states and cities require more paperwork than others, which can. Liz Weston writes for NerdWallet.
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!
Today the Consumer Financial Protection Bureau (CFPB) formally delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022.
DEFENDANT IN HUNSTEIN CASE HIRES NEW LAWYER, WHO CONFIRMS EN BANC PETITION WILL BE FILED The defendant in the Hunstein case out of the Eleventh Circuit Court of Appeals has hired a new lawyer, who confirmed that the company will be filing a petition with the Court for an en banc rehearing of the case. … The post Daily Digest – April 28. Defendant in Hunstein Case Hires New Lawyer; Judge Reverses Course, Undoes Certification, MSJ for Plaintiff in FDCPA Case appeared first on AccountsR
Could you afford to replace your entire wardrobe if your apartment caught fire? What about your phone, your laptop and all your furniture? If the answer is no, you probably need renters insurance. “Renters insurance can’t stop awful things from occurring, but it can make life a little easier if and when they do occur,”. Sarah Schlichter writes for NerdWallet.
The patient experience in healthcare billing is an essential (often overlooked) part of the healthcare revenue cycle. Every medical organization understands that patients need to feel involved in their care during medical services but don’t always extend that importance when it’s time for patients to pay. As an extended business office (EBO) for a healthcare organization, what does the patient experience mean and how does your medical billing strategy play a part?
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.
Today the Consumer Financial Protection Bureau (CFPB) formally delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022.
The American Civil Liberties Union of Washington has filed a class-action lawsuit against Pierce County, Washington, accusing it of violating the constitutional rights of individuals by using private collection agencies to recover unpaid court debts. The suit, filed in Washington state court, was filed on behalf of a 56-year-old man who was in jail when … The post ACLU Lawsuit Seeks to Stop County From Placing Unpaid Court Debts With Collection Agency appeared first on AccountsRecovery.net
Without a budget — or come to think of it, even with one — you may wonder how your average monthly expenses compare with “what’s normal.” The average monthly expenses reported here are from the 2019 Consumer Expenditure Survey conducted by the U.S. Bureau of Labor Statistics and released in September 2020 — the latest. Hal M. Bundrick, CFP writes for NerdWallet.
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
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