American Profit Recovery
MAY 25, 2022
There are so many important aspects when it comes to building a thriving organization. There are the obvious parts of a business such as creating a great product or service, pricing and marketing those appropriately, finding your target market and so much more. But building a sustainable company also involves having the right team that can move things forward on a consistent basis.
JMA
MAY 22, 2022
If you find yourself reading this, chances are that you’re after some help to collect outstanding debts that your business is owed. Whether these unpaid debts are from delinquent individuals or other businesses, finding the time to effectively recover this money is exactly what you do not need right now. The best way to easily. Read more » The post How Much Does Debt Collection Actually Cost?
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True Accord
MAY 24, 2022
Your Guide to Key Terms for Today’s Debt Recovery Strategy. Reaching consumers today requires a more sophisticated process than simply dialing the phone or sending a generic email, especially when it comes to debt recovery and collection. But reviewing potential strategies can often leave you lost in a sea full of acronyms and buzzwords. Between terms like AI, machine learning, and data science, it can be difficult to keep up with the different definitions—and understand how they impact your bus
Account Recovery
MAY 26, 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 Kyle Nelson of I
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
MAY 27, 2022
When tragedy happens in America, regular life grinds to a halt. For business marketers and executives, their daily tasks come with heavy consequences. Both internal employees and the public often jump to conclusions based on your business' reaction or lack of reaction. With the recent gun violence in recent weeks, many organizations are left wondering what to say or do.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Nexa Collect
MAY 23, 2022
A debt collection agency will almost always allow you to make payments in installments. Should a borrower/debtor go for it or not? Benefits of Paying in Full (in one lump sum payment). You will likely strike a deal to settle the debt for a lower amount (keep insisting). Installments result in more work for collection agencies. They would rather accept a lower amount ( like a 10% or a 20% lower settlement) than linger a debt for months.
Account Recovery
MAY 25, 2022
APPEALS COURT OVERTURNS RULING OVER ‘THIS IS AN ATTEMPT TO COLLECT’ DISCLOSURE IN STATEMENT This is one of those cases where I am going to remind everyone that I am not a lawyer and I could be completely off-base, but as I read this ruling, I thought it offered an interesting lesson that putting the … The post Daily Digest – May 25.
Consumer Finance
MAY 22, 2022
The Consumer Financial Protection Bureau (CFPB), in partnership with the New York Attorney General, filed a proposed stipulated judgment in federal court to settle its case against a debt collection enterprise and its owners and managers. The judgment would order all participants in the scheme, based in upstate New York, to exit the debt collection market after their history of deception and harassment.
PBWT
MAY 22, 2022
In the world of cryptocurrency, exchange platforms act as intermediaries allowing investors to buy and sell assets while making money through commissions and transaction fees. Any assets purchased may be held in either non-custodial or custodial wallets. If a customer chooses a custodial wallet, the platform holds and manages the assets through a private key, which is a string of characters that serves as a password.
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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.
Nerd Wallet
MAY 25, 2022
The Federal Reserve has raised its rate twice in 2022 and has said additional bumps are likely. These changes are designed to wrestle inflation down to manageable levels, but they have ripple effects in other areas of the economy — with mortgage rates and credit card interest rates heading up and the stock market moving. Kurt Woock writes for NerdWallet.
Account Recovery
MAY 25, 2022
A complaint has been filed in federal court in California accusing a number of healthcare providers and a collection agency of violating state law as well as the Fair Debt Collection Practices Act by attempting to collect on a debt that was incurred as a result of injuries suffered while the plaintiff was working and … The post Complaint Accuses Creditors, Agency of Attempting to Collect Debts Covered by Worker’s Compensation appeared first on AccountsRecovery.net.
Consumer Finance
MAY 25, 2022
Today, the Consumer Financial Protection Bureau (CFPB) confirmed that federal anti-discrimination law requires companies to explain to applicants the specific reasons for denying an application for credit or taking other adverse actions, even if the creditor is relying on credit models using complex algorithms.
UK debt collections
MAY 23, 2022
A Council in Wales has been hit with a high court writ to recover unpaid care home fees it owes. Gwynedd Council is reported to owe a large sum to a private care home service provider. Meddyg Care Dementia Homes is taking Debt Collection action against the council after it ignored a judgement made by Northampton Small Claims Court. The council failed to act on a County County Court Judgment issued in April ordering it to repay £44,529.46.
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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.
Nerd Wallet
MAY 23, 2022
Between rising gas and car-repair prices, it’s an expensive time to be a driver. And car insurance is no exception. But while you can’t control problems like labor shortages and supply chain issues, there are steps you can take to lower your insurance bill. Here’s what to do if your auto insurance costs have become. Ben Moore writes for NerdWallet. Email: bmoore@nerdwallet.com.
Account Recovery
MAY 24, 2022
NORFOLK, Va., May 20, 2022 /PRNewswire/ — Kevin Stevenson, president and CEO of PRA Group, Inc., a global leader in acquiring and collecting nonperforming loans, was recognized for his proven track record of outstanding leadership, exemplary service and advocacy for positive change during the Community Builders Award ceremony yesterday evening.
Consumer Finance
MAY 23, 2022
The Consumer Financial Protection Bureau (CFPB) is opening a new office, the Office of Competition and Innovation, as part of a new approach to help spur innovation in financial services by promoting competition and identifying stumbling blocks for new market entrants. The office will replace the Office of Innovation that focused on an application-based process to confer special regulatory treatment on individual companies.
Prosperity Now
MAY 23, 2022
The first week of May marked National Small Business Week , a time to recognize the importance of entrepreneurship to
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?
Nerd Wallet
MAY 23, 2022
Small-business loan terms determine how long a small-business owner has to pay back their borrowed money, plus interest. Typical loan terms, also referred to as repayment terms, can vary from a few months to 25 years — it depends on your lender and the type of business loan. You and your lender will establish a. Hillary Crawford writes for NerdWallet.
Account Recovery
MAY 25, 2022
This is one of those cases where I am going to remind everyone that I am not a lawyer and I could be completely off-base, but as I read this ruling, I thought it offered an interesting lesson that putting the mini-Miranda on every communication might not be the best idea. The Court of Appeals … The post Appeals Court Overturns Ruling Over ‘This is an Attempt to Collect’ Disclosure in Statement appeared first on AccountsRecovery.net.
UK debt collections
MAY 26, 2022
A council is being forced to sell buildings to pay debts it has emerged. Slough Borough Council faces having to sell off most of its assets to pay off debts , government commissioners have warned. Following continual non payment, Slough Borough Council was forced to declare bankruptcy last year, having accrued £760m in unpaid debt. A report by the commissioners said it would have to sell most of its assets “without exception” Council leader James Swindlehurst said he was “dete
Better Credit Blog
MAY 27, 2022
Home equity loans allow you to borrow funds against the existing equity on your property. The equity balance is the difference between the market value of your home and the amount owed on your mortgage. Homeowners use these loans to fund home renovations, student loans, and high-value purchases or consolidate high-interest debt. When you take out this type of loan, you receive a lump sum that you pay back, typically at a fixed interest rate, over a period of 5 to 30 years.
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?
Nerd Wallet
MAY 26, 2022
When you’re running a small business with tight margins, every transaction counts. Inflation and labor shortages have made it an especially difficult year for businesses already struggling due to the aftermath of the pandemic. According to a 2022 Guidant Financial survey, 35% of small businesses reported not being profitable. Hindsight is 20/20, and small-business owners.
Account Recovery
MAY 25, 2022
The Consumer Financial Protection Bureau yesterday announced it was replacing its Office of Innovation with a new Office of Competition and Innovation that aims to “spur” innovation in the financial services industry by promoting competition and making it easier for “new market entrants.” The Office of Innovation was created back in 2018 under former Acting … The post CFPB Reorganizes and Launches New Office to Promote Competition and Innovation appeared first on Ac
UK debt collections
MAY 25, 2022
Businesses going bust and company insolvencies are at more than double their 2021 levels for the second consecutive month warns a leading Trade body. Alarming figures for April published by the Insolvency Service for England and Wales show a 115 per cent rise on April 2021. The figure for March was a staggering 111 per cent up when compared with March 2021.
Troutman Sanders
MAY 27, 2022
On May 26, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that federal anti-discrimination law requires companies to explain to applicants the specific reasons for denying an application for credit or taking other adverse actions, even if the creditor is relying on credit models using complex algorithms. In a corresponding Consumer Financial Protection Circular published the same day , the CFPB started with the question, “When creditors make credit decisions … do these credi
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