Fico Collections
NOVEMBER 3, 2022
Home. Blog. FICO. Debt Collection: Have We Learned the Lessons of the Last Crises? While the current series of economic shocks may seem "unprecedented", there are clear lessons from past crises that should shape our collections strategies today. FICO Admin. Tue, 07/02/2019 - 02:45. by Bruce Curry. Senior Principal Consultant. expand_less Back To Top.
Nerd Wallet
OCTOBER 31, 2022
The Federal Reserve is expected to hike interest rates by 75 basis points on Wednesday for the fourth consecutive time in its efforts to cool a hot economy. Federal Reserve Chairman Jerome Powell said in September that he wishes “there were a painless way” to lower inflation. “There isn’t,” he said. So who is going. Anna Helhoski writes for NerdWallet.
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Account Recovery
NOVEMBER 2, 2022
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. This is merely meant … The post 23 Companies Seeking Collection Talent appeared first on AccountsRecovery.net.
American Profit Recovery
OCTOBER 31, 2022
We are entering a new type of economy in the coming months. If your small business wants to be prepared to weather the changing economic conditions, now is the time to act and put the systems in place to ensure your organization continues to thrive. You may already be seeing and experiencing the effects of our changing economy. Maybe your cost of goods has increased dramatically, or you have begun to see a trend in your accounts receivables, such as more people paying late.
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.
Enterprise Recovery
NOVEMBER 4, 2022
If you're reading this, it's more than likely because you've done everything you can to get a client to pay, including asking nicely , and they're simply. not paying. You may be wondering if you have any recourse at all and you really, REALLY, need to get back to running your business. Hiring a professional debt collection agency seems complex and a little uncertain.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
NOVEMBER 3, 2022
A District Court judge in Pennsylvania has lowered the fee award in a Fair Debt Collection Practices Act case, almost ending up exactly in the middle between the amount sought by the plaintiff and the amount suggested by the defendant. A copy of the ruling in the case of Bush v. LVNV Funding can be … The post Judge Lowers Fee Award in FDCPA Case appeared first on AccountsRecovery.net.
American Profit Recovery
NOVEMBER 2, 2022
To say there is endless misinformation about debt collections in the media and on the Internet would be a vast understatement. Right up front, you should know that the debt collection industry provides critical and necessary support to not only consumers and the business community but the overall economy. Just about everyone who works in the debt collection industry fully understands that it can be an uncomfortable situation as a consumer being sent to collections.
Nerd Wallet
NOVEMBER 2, 2022
Home affordability has crumbled this year, and it may erode further at the hands of the Federal Reserve. The Fed on Wednesday raised the federal funds rate by three-quarters of a percentage point to a range of 3.75% to 4%. The central bank’s action will directly or indirectly raise the floor under several consumer interest. Holden Lewis writes for NerdWallet.
Fraser
NOVEMBER 4, 2022
IRS Announces 2023 Cost-of-Living Adjustment for Retirement and Health and Welfare Benefit Plans. The Internal Revenue Service recently announced 2023 cost-of-living adjustments for retirement and health and welfare benefit plans. The significant adjustments reflect the increase in inflation over the last year. The adjustments are detailed in IRS Notice 2022-55.
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Account Recovery
NOVEMBER 3, 2022
The Federal Trade Commission has issued a Consent Order against a company that was accused of “lax” data security practices that resulted in four data breaches during the past five years, exposing the information for millions of individuals. The order does not include a monetary penalty, but requires the company to bolster its information security … The post Four Data Breaches in Five Years Leads to FTC Enforcement Action appeared first on AccountsRecovery.net.
PBWT
OCTOBER 30, 2022
The ramifications of uneven increases to fees in chapter 11 bankruptcies continue to ripple through federal courts. As we discussed previously , Congress enacted legislation in 2017 that temporarily increased U.S. Trustee fees chapter 11 debtors had to pay in virtually every district in the U.S. The increase was meant to offset the costs of the U.S.
Nerd Wallet
OCTOBER 31, 2022
Home buyers are looking for ways to whittle down their mortgage rates. As a result, a once-popular home-selling tactic is making a comeback. It’s called a temporary buydown, and it was widely used when mortgage rates were zooming upward in the late 1970s and early 1980s. The revival of the temporary buydown is timely, as. Holden Lewis writes for NerdWallet.
UK debt collections
OCTOBER 31, 2022
With the UK economy likely to fall into a recession, small business late payments were made on average 8.2 days later in September. This is the highest small business late payment time since August 2020 according to the latest data from Xero, the global small business accounting platform. Xero’s Small Business Index , based on aggregated data from hundreds of thousands of small businesses, found that in the UK unpaid invoices are paid significantly later than they are in Australia (6.5 days) and
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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.
Account Recovery
NOVEMBER 3, 2022
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 Christine Scrive
Troutman Sanders
NOVEMBER 4, 2022
On October 31, a Texas federal court ordered a stay in a Consumer Financial Protection Bureau (CFPB) enforcement action, pending the issuance of the Fifth Circuit mandate in Community Financial Services Association of America Ltd. v. CFPB , which declared the CFPB funding mechanism unconstitutional. In the enforcement action CFPB v. Populus Financial Group, Inc. , the parties requested the stay since the mandate will control the resolution of key issues presented in the defendant’s pending motio
Nerd Wallet
NOVEMBER 4, 2022
Inflation has come for most things, including travel expenses like hotels and airfare. But the cost of TSA PreCheck has undergone a bit of deflation. The Transportation Security Administration has lowered the price for TSA PreCheck from $85 to $78. That’s good news for travelers who want to speed through security without the clunkiness of. Sally French writes for NerdWallet.
UK debt collections
NOVEMBER 4, 2022
The latest Government insolvency statistics for Q3 2002 show a significant increase in the volume of companies in distress. There were 16,105 corporate insolvencies in the first three quarters of 2022 compared to 9,433 during the same period in 2021 – a 71% rise. Quarterly insolvency statistics for July to September (Q3) 2022 also show corporate insolvency appointments are currently over 50% higher than levels in 2021.
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?
Account Recovery
NOVEMBER 2, 2022
A District Court judge in Illinois has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case, ruling that a letter sent to the plaintiff in response to a dispute does not constitute a communication in connection with the collection of a debt. A copy of the ruling in the … The post Judge Grants MSJ for Defense in FDCPA Case Over Letter Sent to Represented Individual appeared first on AccountsRecovery.net.
NCBA Law Practice Management Blog
NOVEMBER 4, 2022
Every law firm owner is aware that outside actors can breach data, and cause a host of problems. Hackers are the bogeyman, in this situation. And so, much concern is spent over password management , encryption and email scams, including ransomware and phishing. But, to have a truly effective data security program, law firms also need to consider the access that internal staff enjoys.
Nerd Wallet
NOVEMBER 3, 2022
Your savings account rate might change for the better this November. The reason? The Federal Reserve raised the federal funds rate by three-quarters of a percentage point, or 0.75%, on Nov. 2, marking the sixth increase of this rate in 2022. After a Fed rate increase, banks and credit unions tend to raise rates on. Spencer Tierney writes for NerdWallet.
Troutman Sanders
NOVEMBER 3, 2022
Please join Troutman Pepper Partner Chris Willis and his guest and colleague Brooke Conkle as they discuss the Federal Trade Commission’s (FTC) recent consent order with Passport Auto Group. The FTC alleged Passport violated the law in three areas: Passport had a practice of marking up fees from the advertised price; Passport had a discretionary markup practice that caused Black and Latino customers to pay higher fees; and it charged Black and Latino customers additional fees for markups for ext
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?
Account Recovery
NOVEMBER 1, 2022
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 FCRA Suit Alleges Impermissible Purpose, Failure to Investigate Disputed Debt appeared first on AccountsRecovery.net.
NCBA Law Practice Management Blog
NOVEMBER 4, 2022
It’s 2022, and everybody is still kind of bad with passwords. Many passwords, in fact, still contain the word. password. That can’t be good. However, there are three simple moves that you can make to ensure that your passwords are more impressive, and difficult to hack. That will, in turn, better secure the systems that you are using passwords to protect – which, at this juncture, are pretty much all your systems.
Nerd Wallet
NOVEMBER 2, 2022
Ever since pop superstar Taylor Swift’s not-so-subtle announcement on “The Tonight Show” last week, Swifties everywhere have been wondering and waiting with bated breath: When’s the tour? As of Nov. 1, 2022, Swift made it official. Kicking off March 18, 2023, in Glendale, Arizona, the U.S. leg of “The Eras Tour” will include 27 shows. Jaime Hanson writes for NerdWallet.
Sawin & Shea
NOVEMBER 2, 2022
If you’re concerned about the potential impact of bankruptcy on your spouse, you’re not alone. This is one of the top questions married people have about filing for bankruptcy in Indiana. First, you should know that choosing bankruptcy is a smart, proactive way of lifting the burden of overwhelming debt. Here in the Hoosier state, more than 15,000 people file for bankruptcy in an average year, with about 58% choosing Chapter 7 and 41% choosing Chapter 13 bankruptcy.
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