Sat.Mar 23, 2024 - Fri.Mar 29, 2024

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27 Companies Seeking Collection Talent

Account Recovery

During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers.

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Money Orders vs. Cashier’s Checks: Which Is Better?

Credit Corp

Money orders and cashier’s checks are both payment methods similar to personal checks. However, a money order is issued and guaranteed by the retailer where it was purchased, while a cashier’s check is issued and guaranteed by a bank. Money orders and cashier’s checks are payment methods that look much like personal checks. Their similarities may make it difficult to choose between a money order versus a cashier’s check.

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Why don’t people pay their debts?

Collect More

This, my friends, is a billion dollar question. And here is the billion dollar answer- they don’t NEED to. Create the need and you’ll be paid. How else do you explain the $2.5 million dollars we collected in 2023 within 1 day of receiving the debt. 1 phone call or 1 email. $2.5 million dollars. That’s right- they had the money all along.

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5 Tips for Drafting M&A Closing Checklists

Jimerson Firm

In the complex and fast-paced world of business mergers and acquisitions (M&A), the creation of a comprehensive closing checklist is crucial. The closing checklist serves as a deal roadmap, ensuring that all critical steps are taken, and no detail is overlooked. A well-prepared closing checklist can significantly streamline the closing process, minimize risks, facilitate discussions, and get the parties working together to close the deal.

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How Collection Agencies Minimize Effort and Maximize Results with the Right Software

Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.

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How Much Money Do You Need to Buy a House in 2024?

Credit Corp

Generally, it helps to save up to 20-25% of a house’s sales price. However, factors like geographical location, economic climate, real estate interest rates, and global events will influence how much money you’ll need to buy a house. Key Takeaways: An ideal down payment is 20% to 25% of a home’s value. USDA and VA home loans traditionally don’t require down payments.

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CFPB Takes Action to Halt False Claims of 'Free' International Money Transfers

Consumer Finance

The Consumer Financial Protection Bureau issued a new circular warning remittance transfer providers that false advertising about the cost or speed of sending a remittance transfer can violate federal law.

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CNN interviewed Jocelyn Nager New York Debt Collection Lawyer

FFGN COLLECT NY

CNN reporter Fredericka Whitfield interviewed Jocelyn Nager, President of Frank, Frank, Goldstein & Nager. At the time of the interview, Press had indicated that it may not be possible for the former President to bond the State’s almost Five Hundred-Million-dollar ($500,000,000.00) judgment. If the bond cannot be posted and execution of the judgment is not stayed, the judgment can be enforced here in New York and elsewhere.

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Haulage firms named in Business Late payers list

UK debt collections

Well known transport, distribution and haulage firms have cropped up in a list naming and shaming both late and serially-late payers of invoices. The “rogues gallery” included Ceva Logistics, Reed Boardall, Brake Bros and Jack Richards & Son. However, Leicestershire-based Samworth Brothers was praised for making a big improvement in its payment performance.

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Daily Digest – Class-Action Accuses Firm of Filing Suit in Wrong State; Judge Rules MTD Should be Granted in FDCPA Case Over Email Preference for Communications

Account Recovery

Class-Action Accuses Firm of Filing Suit in Wrong State Judge Rules MTD Should be Granted in FDCPA Case Over Email Preference for Communications Judge Grants MTD in FDCPA Over Whether Plaintiff Disputed Debt Judge Declines to Strike Down N.J.

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

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.

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Statement of CFPB Director Rohit Chopra and Chief Technologist Erie Meyer on Enhancing Agency Capabilities to Address Transformative Technologies

Consumer Finance

The CFPB is working to be a leader when it comes to building agency capabilities to address transformative technologies.

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How Do Interest Rates Work and How Are They Calculated?

Credit Corp

Key Takeaways: Interest rates are fees that you pay while borrowing money until you completely repay a loan. Interest rates are calculated with the formula A=P(1+rt), which can help you find the total interest on a loan. Having a higher credit score can help you qualify for lower interest rates. In essence, interest rates work by determining how much a borrower must pay a lender while using a loan.

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What Happens If I Get a Job After Filing Chapter 7?

Sawin & Shea

Filing for bankruptcy can feel incredibly daunting, especially if you have concerns over whether it may impact your future job prospects. The sad reality is that many people hold misconceptions regarding bankruptcy filers. So, what happens if I get a job after filing Chapter 7? They believe those declaring bankruptcy are irresponsible or bad with money.

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Daily Digest – March 28. Getting to Know Joel Blackburn of Cornerstone Licensing; Judge Denies Defendant’s MJOP in FDCPA Case Over Tax Debt

Account Recovery

Getting to Know Joel Blackburn of Cornerstone Licensing Judge Denies Defendant’s MJOP in FDCPA Case Over Tax Debt Judge Denies MTD, Rules Credit Union Meets WVCCPA Definition of ‘Debt Collector’ in Convenience Fee Case CFPB Issues Guidance Over ‘Free’ Money Transfers, Claims of How Fast Funds Are Available WORTH NOTING: What life is like for […]

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When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

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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CFPB Toma Acción para Detener Falsa Promesas de Transferencias Internacionales de Dinero “Gratis”

Consumer Finance

La CFPB les advierte a los proveedores de transferencias de remesas no hacer falsas declaraciones sobre el costo y la velocidad de sus servicios.

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March 2024 – Stepping Out of Your Comfort Zone in the Workplace

Jimerson Firm

Featured in the March 2024 Issue: Partner’s Perspective: Stepping Out of Your Comfort Zone in the Workplace “For many of us, ideal professional growth includes the continuous development and application of skills to make a positive impact on your current position and career pursuits. Often, folks in the workplace are under the impression that their skills will be honed simply with their normal day-to-day experience and creating consistent work habits.

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Thomas Martin to speak at Traffic Club of Newark’s Annual Membership Gala

Price Meese

Price Meese partner, Thomas C. Martin, Esq., is proud to be one of the featured speakers for the Traffic Club of Newark’s Annual Membership Gala being held on April 18, 2024, at Galloping Hill, 365 Chestnut Street, Union, New Jersey. Mr. Martin will be making his presentation entitled “Hot Topics in Transportation Law,” to transportation carriers, brokers, freight forwarders, warehouse operators and industry insiders.

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Judge Denies Defendant’s MJOP in FDCPA Case Over Tax Debt

Account Recovery

What constitutes a debt? The definition seems to change by the day. A District Court judge in Connecticut has denied a defendant’s motion for judgment on the pleadings, ruling the debt in question does meet the Fair Debt Collection Practice Act’s definition of a debt and that the suit should proceed.

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10 Ways to Improve Payment Collections with Salesforce

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.

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2023 HMDA Data on Mortgage Lending Now Available

Consumer Finance

The Home Mortgage Disclosure Act (or "HMDA") Modified Loan Application Register (or "LAR") data for 2023 are now available on the Federal Financial Institutions Examination Council’s (or "FFIEC") HMDA Platform for HMDA filers.

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Bankruptcy Filings Increase Across All Chapters in First Quarter 2024

Collection Industry News

NEW YORK/ALEXANDRIA, VA – April 2, 2024 – New bankruptcy filings during the first calendar quarter of 2024 (Jan. 1 through March 31) registered year-over-year increases across all U.S. major filing categories, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. Total commercial chapter 11 filings (including subchapter V) registered the largest increase, as the 1,894 filings during the first quarter of 2024 were up 43 percent from the 1,325 total co

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Barron & Newburger’s Latest Risk Management Guidance

BN Lawyers

Here’s the latest risk management guidance, published in February 2024, from B&N’s Attorneys Risk Management practice group. BN – Tip of the Month – Florida is the First State to Publish an Ethics Op Use of Generative Al – Feb 2024 The post Barron & Newburger’s Latest Risk Management Guidance appeared first on Barron & Newburger, P.C.

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Daily Digest – March 27. Judge Approves Settlement in FDCPA Class Action That Exceeds 1% Net Worth Cap; Visa, Mastercard to Lower Interchange Fees, Settling 20-Year-Old Suit

Account Recovery

Judge Approves Settlement in FDCPA Class Action That Exceeds 1% Net Worth Cap Visa, Mastercard to Lower Interchange Fees, Settling 20-Year-Old Suit CFPB, FTC Ramping Up Tech Capabilities, Staff 27 Companies Seeking Collection Talent WORTH NOTING: Now that Spring is on the way, here is the best patio furniture and how to shop for it […]

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Connect, Care, Convert: Secrets to Establishing Trust with Niche Markets and Turning Them Into Clients

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?

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CFPB Joins Federal and State Agencies in Coordinated Statements on Tech & Enforcement

Consumer Finance

Today, a number of federal and state agencies released agency-specific action statements on tech capacity.

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Peak rates boost U.S. demand for riskier form of corporate debt

Collection Industry News

March 15 (Reuters) – The U.S. market for one of the riskiest types of corporate debt is resurging this year, as companies cater to investor demand for assets that can lock in high yields for several years ahead of an expected decline in interest rates. Holders of these bonds, called junior subordinated debt, are among the last to be paid in case of a default and companies can defer interest payments.

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Member Spotlight: One Step at a Time

NACM

In B2B credit, business and law go together. Developing skills in business law helps credit professionals navigate complex legal environments, mitigate risks, protect assets and foster ethical conduct. Timothy Van Natta, CBF, clinical assurance division chief at California Department of Health Services (Sacramento, CA), just earned his Certified Bu.

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Judge Approves Settlement in FDCPA Class Action That Exceeds 1% Net Worth Cap

Account Recovery

Collectors that choose to settle Fair Debt Collection Practices Act lawsuits for amounts that exceed the cap established by the statute are making their own bed and should not be restricted from doing so, a Magistrate Court judge in New Jersey has ruled, granting preliminary approval of a settlement in an FDCPA class action.

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ERM Program Fundamentals for Success in the Banking Industry

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?