Sat.Jan 21, 2023 - Fri.Jan 27, 2023

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How can Collection Agencies Maintain a Good Reputation?

Nexa Collect

Business and medical professionals seeking to hire a collection agency always wonder if the agency they hire is ethical or if it may damage their reputation. Here are some valuable tips on how collection agencies can maintain a good reputation online and offline. Following Federal and State laws: A collection agency that violates government laws will get sued or penalized sooner or later.

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Healthcare Billing Statements Source of Frustration for Consumers: Survey

Account Recovery

Fewer than one-third of individuals feel extremely confident that they would be able to identify an error on a medical bill, and half of those individuals who participated in a survey have had bills with incorrect charges of at least $200, according to the results of a recently released survey. For many companies in the … The post Healthcare Billing Statements Source of Frustration for Consumers: Survey first appeared on AccountsRecovery.net.

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Understanding the Pros and Cons of Early Payment: A Guide for Debtors and Creditors

JMA

When it comes to debt collection, early payment refers to a situation in which a debtor chooses to pay off their outstanding balance before the due date or before it has been sent to a collection agency. The decision to make an early payment on debt should be carefully evaluated by both the borrower and. Read more » The post Understanding the Pros and Cons of Early Payment: A Guide for Debtors and Creditors appeared first on JMA Credit Control.

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Why Happy B2B Clients Save Money

Enterprise Recovery

Does it actually cost more to attract new clients than keep current ones? That can only be decided when you consider the cost of your time and the value of your clients. Nevertheless, happy clients are usually your most loyal clients, and they'll likely recommend your goods and services to others. Let's identify strategies for keeping your existing B2B clients happy so you can maintain a strong, long-lasting business relationship and save money along the way.

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Guide to Business Writing

Everything you need to know about better business writing in one place. This is a complete guide to business writing — from a clear business writing definition to tips on how to hone your business writing skills.

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Home Shoppers to Face High Rates, Economy With Resolve

Nerd Wallet

Elizabeth Renter writes for NerdWallet. Email: elizabeth@nerdwallet.com. Twitter: @elizabethrenter. The article Home Shoppers to Face High Rates, Economy With Resolve originally appeared on NerdWallet.

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Can an Insurance Broker Be Liable if a Loss Is Not Covered by Insurance?

Jimerson Firm

What happens when, due to a negligent error by the insurance broker, a business suffers property damage that is either not covered, or not fully covered, by what the insured thought was an insurance policy they purchased through the broker to cover the risk? Can the insured look to its insurance broker to cover the uninsured loss? In certain types of circumstances, the answer may be yes, and the insurance broker may be found liable to the insured for such an uncovered loss.

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Business CCJ’s double whilst firms in significant distress soars

UK debt collections

Business CCJ’s have doubled in the last quarter says the latest Red Flag Report from Begbies Traynor. Latest data has laid bare the struggles facing UK business during the current economic crisis. 610,405 business rated as being in “significant” financial distress in Q4 2022. This figure is up 4 per cent from the same period for 2021. “Critical” financial distress, meanwhile, increased 36 per cent from Q4 2021 to Q4 2022 and was up 10 per cent between Q3 and Q4 2022.

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Supreme Court’s Student Loan Decision Will Impact Black Women Most

Nerd Wallet

Cecilia Clark writes for NerdWallet. Email: cclark@nerdwallet.com. The article Supreme Court’s Student Loan Decision Will Impact Black Women Most originally appeared on NerdWallet.

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Complaint Accuses Collector of Attempting to Collect on Settled Debt

Account Recovery

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 Attempting to Collect on Settled Debt first appeared on AccountsRecovery.net.

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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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CFPB Seeks Public Input on Consumer Credit Card Market

Consumer Finance

The CFPB issued a request for information today seeking public feedback on how the consumer credit market is functioning as part of a biennial review of the industry.

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Great News to Share with Your VITA Volunteers to Get Your Tax Season Going!

Prosperity Now

In case you haven’t heard, we have GREAT news for the start of tax season: The omnibus spending bill for

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Industries Most Likely to See Layoffs + How to Save Your Job

Nerd Wallet

Hal M. Bundrick, CFP® writes for NerdWallet. Email: hal@nerdwallet.com. Twitter: @halmbundrick. The article Industries Most Likely to See Layoffs + How to Save Your Job originally appeared on NerdWallet.

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Compliance Digest – January 23

Account Recovery

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.

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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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How Rising Interest Rates Can Affect Your Interest Rate After Bankruptcy

Sawin & Shea

Regardless of whether you’re keeping up with economic news and rising inflation rates, you’ve likely noticed that the cost of goods is going up while your purchasing power is going down. The Consumer Price Index notes that the inflation rate is up 7.1%, which is the highest rate of inflation since 1982. Unfortunately, rising inflation impacts almost everything we purchase, such as cars, homes, clothes, food, and utilities.

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The Resolution Funnel: How to Effectively Guide Consumers Through the Repayment Process

True Accord

At TrueAccord, our goal is to meet customers where they are to personalize a strategy for each individual customer. We do this by sending them a communication via the right channel, using messaging that resonates with them, and making them an offer they can afford. We’re able to achieve this thanks to insights from the 20 million customers. This includes data like what email and SMS messages drive the most engagement, which web pages are customers viewing the most, what is the ideal payment plan

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Smart Money: Data Breaches, and Catching Up On Retirement Savings

Nerd Wallet

Jae Bratton writes for NerdWallet. Email: jbratton@nerdwallet.com. Liz Weston, CFP® writes for NerdWallet. Email: lweston@nerdwallet.com. Twitter: @lizweston. Sean Pyles writes for NerdWallet. Email: spyles@nerdwallet.com. Twitter: @SeanPyles. The article Smart Money: Data Breaches, and Catching Up On Retirement Savings originally appeared on NerdWallet.

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Proposed Law Would Limit Collections in Florida if Incurred as a Result of Certain Crimes

Account Recovery

The changing of the calendar from December to January signifies more than just the start of a new year. In many states, it signifies the start of a new legislative session. Already, there are reports that bills attempting to regulate actions and behavior in the accounts receivable management industry are being introduced or planned to … The post Proposed Law Would Limit Collections in Florida if Incurred as a Result of Certain Crimes first appeared on AccountsRecovery.net.

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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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Digital Operations Impact on Debt Collection, from Team Structure to ROI

PDC Flow

Justin Franklin, Vice President of Global Strategy and Execution at Cedar Financial recently sat down for an interview with PDCflow’s Dawn Updike. They discussed how digital operations impact team structures and revenue, measuring ROI and more. Like other Accounts Receivable professionals, Franklin found his career by accident when he accepted a collection job after college in 2005.

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Debt Collection Statute of Limitation in California

Direct Recovery

Managing your debt and confronting various debt collectors can be intimidating, but it becomes much simpler when you understand the rules everyone must follow. One of the most important things to know about any debt is that there comes a time when it is too old for anyone to harass you about it. The rules are different depending on several factors, but knowing how things work in your situation could make getting out from underneath the burden of your previous mistakes much easier.

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New X1+ Card: 4X Back on Expedia, Hotels.com, Vrbo; Unique Lounge Perks

Nerd Wallet

Melissa Lambarena writes for NerdWallet. Email: mlambarena@nerdwallet.com. Twitter: @LissaLambarena. The article New X1+ Card: 4X Back on Expedia, Hotels.com, Vrbo; Unique Lounge Perks originally appeared on NerdWallet.

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Appeals Court Affirms Dismissal of FDCPA, FCRA Case

Account Recovery

The Court of Appeals for the Second Circuit has affirmed the dismissal of a case alleging violations of the Fair Credit Reporting Act, Fair Debt Collection Practices Act, and Racketeer and Influenced and Corrupt Organizations (RICO) Act involving a number of collection operations attempting to collect on a debt the appellant suspects was the result … The post Appeals Court Affirms Dismissal of FDCPA, FCRA Case first appeared on AccountsRecovery.net.

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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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Construction late payment worsening says Data firm

UK debt collections

Construction late payment is getting worse according to the latest data from Creditsafe. More than half of all business invoices sent to construction firms were paid late last year analysis has found. The proportion of late invoices “significantly increased” to 52.9 per cent across the sector in 2022, a rise of 13 per cent compared with 2021. Data company Creditsafe looked at 21 sectors and found that only two other sectors performed worse.

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Everything You Need to Know About Credit Score Ranges

Direct Recovery

Everyone knows that having a good credit score is the key to getting the credit you need when you need it, but what exactly is a good credit score in the first place? There are tons of articles littering the web breaking down everything you need to do to improve your credit score, but none of that is helpful if you don’t have a solid working knowledge of where you fall on the range of possible scores.

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2023 Home Buyers Hope to Spend $200K — Here’s What’s Realistic

Nerd Wallet

Elizabeth Renter writes for NerdWallet. Email: elizabeth@nerdwallet.com. Twitter: @elizabethrenter. The article 2023 Home Buyers Hope to Spend $200K — Here’s What’s Realistic originally appeared on NerdWallet.

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Bill Introduced to Keep Evictions Off Credit Reports

Account Recovery

Amidst all the talk about credit reporting and what should and should not be on a consumer’s credit report, a bill has been introduced in the House of Representatives that would amend the Fair Credit Reporting Act in order to prohibit including evictions due to the COVID-19 pandemic from consumers’ credit reports. A copy of … The post Bill Introduced to Keep Evictions Off Credit Reports first appeared on AccountsRecovery.net.

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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?