Sat.Nov 28, 2020 - Fri.Dec 04, 2020

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Recovering Your Unpaid Debts – Debt Collection Agencies vs Lawyers

JMA

Debts are an unfortunate and sometimes ugly reality of running a business. As a business owner, you may find yourself in the position where you are not receiving payments for goods or services, and this may be due to your debtor being unable to afford to make their payment, or quite possibly be a professional. Read more » The post Recovering Your Unpaid Debts – Debt Collection Agencies vs Lawyers appeared first on JMA Credit Control.

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Your business hired a collection agency. Now what?

American Profit Recovery

If your organization has had challenges in getting customers to pay or pay on time, you have most likely taken the steps to work with a collection agency. The right agency will help you get back on track as well as help your customers find a solution to their ongoing debt. You have probably interviewed a few collection agencies and you have finally chosen a company that you can work with and that fits your needs.

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How Business Process Outsourcing helped save my business during COVID-19

Debt Recoveries

Adam Stewart here. I run Debt Recoveries Australia and ADC Legal. One of Australia’s leading debt collection agencies and one of the most respected litigation service companies. When I was first looking for an assistant and someone suggested I try a remote worker from overseas, I didn’t have any idea of how to start or how to go about finding and employing an assistant in the first place.

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Getting to Know Stacy Willis of Account Management Resources

Account Recovery

The “Getting to Know” series is sponsored by Arbeit. Arbeit is a powerful, and easy to use communications platform that empowers businesses to reach more consumers. Innovative by nature, we are constantly listening to and understanding the businesses we partner with and developing long term industry relationships that allow us to be proactive in anticipating … The post Getting to Know Stacy Willis of Account Management Resources appeared first 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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How to Resolve Late Payments During a Pandemic and the Holidays

Enterprise Recovery

As if it's not challenging enough to deal with late paying clients, the pandemic and the holiday season can add more stress. Your business may be working to resolve late payments to close out your year. Your clients may be struggling with cash flow shortages due to the pandemic. Is there a gentle-yet-firm way to ask that your invoices are paid on time?

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Cost Optimization for Healthcare Clinics

Nexa Collect

Healthcare clinics that wish to succeed in today’s competitive market must strive not only to provide quality care while keeping up with the continual technological advances of such a fast-paced and innovative industry but also to ensure they are managing their costs effectively. The healthcare market is growing bigger every year – according to the Bureau of Labor Statistics, the number of healthcare clinics opening each year is steadily rising, with healthcare jobs predicted to increase 30 to 4

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Judge Denies MTD in Suit Filed Against Collector By CFPB

Account Recovery

A District Court judge in Maryland has denied a debt collector’s motion to dismiss a lawsuit filed against it by the Consumer Financial Protection Bureau, ruling that even though the Supreme Court found the leadership structure of the Bureau to be unconstitutional, it did not dictate that it lacked authority to bring an enforcement action … The post Judge Denies MTD in Suit Filed Against Collector By CFPB appeared first on AccountsRecovery.net.

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Best Tips for Saving for Retirement — at Any Age

Nerd Wallet

This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. The best gift you can give yourself this year? A more secure financial future. No matter what stage of life you’re in, it’s never. Tiffany Lam-Balfour is a writer at NerdWallet.

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12 Tips to Help Prevent Identity Theft

Credit Corp

There were more than 650,000 instances of reported identity theft in 2019, according to data from the Federal Trade Commission (FTC). Separate information from Javelin Strategy & Research found that consumers lost almost $17 billion to fraud in the same year. Concerned you might not be doing enough to prevent identity theft? Check out these tips we’ve collected to help you lead a more secure life and safeguard your information, finances and family.

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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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Governing a Community Association through COVID-19: Common Elements

Jimerson Firm

The first COVID-19 related Emergency Order from Florida’s Department of Business and Professional Regulation (“DBPR”) was issued on March 16, 2020 (“2020-01”). Now, nine (9) months later and there is another spike of COVID-19 infections across the country. As COVID-19 infections spike, board members of Community Associations across the state may want some guidance on what they can do with their common elements.

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Daily Digest – December 1. Appeals Court Overturns FDCPA Case; CFPB Launches Advisory Opinion Program

Account Recovery

APPEALS COURT OVERTURNS RULING IN FAVOR OF DEFENDANT IN FDCPA CASE The Court of Appeals for the Ninth Circuit has overturned a lower court’s ruling in favor of a defendant that was sued for violating the Fair Debt Collection Practices Act by attempting to collect on a debt that had been paid off nearly two … The post Daily Digest – December 1.

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Can You Use a Personal Loan to Pay Off Student Loans?

Nerd Wallet

Many lenders won’t let you use a personal loan to pay off student loans. But even if they did, you likely wouldn’t want to. Personal loans typically come with higher interest rates and shorter repayment terms than student loans do. If you’re looking for a loan to consolidate or pay off student debt, refinance into. Ryan Lane is a writer at NerdWallet.

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How Late Can You Be on a Car Payment, Mortgage or Other Bill?

Credit Corp

It’s always frustrating to come across a bill and realize it was due yesterday—or last week. If you’re late on a payment or if you miss it completely, you could end up paying late fees and taking a hit on your credit score. It can be especially difficult if you want to apply for a loan or credit and are about to make a big purchase like a house or a vehicle.

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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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Consumer Financial Protection Bureau Sues LendUp Loans, LLC for Allegedly Violating the Military Lending Act

Consumer Finance

On December 4, 2020, the Consumer Financial Protection Bureau filed a lawsuit against LendUp Loans, LLC alleging that LendUp violated the Military Lending Act (MLA) in connection with its extensions of credit.

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CFPB Sues Debt Settlement Company

Account Recovery

The Consumer Financial Protection Bureau yesterday filed a lawsuit against a debt settlement company, alleging it engaged in abusive and deceptive acts and practices by charging fees before it performed any services and collecting higher fees than it was supposed to. A copy of the complaint against DMB Financial, LLC, filed in the District Court … The post CFPB Sues Debt Settlement Company appeared first on AccountsRecovery.net.

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Biden’s Student Loan Forgiveness Could Wipe Out Debt for 15 Million Borrowers

Nerd Wallet

President-elect Joe Biden’s proposal to forgive $10,000 of federal student debt as COVID relief could erase loan balances for 15 million borrowers and reduce balances for millions more, according to federal data. Broad student loan forgiveness could affect 45.3 million borrowers with federal student loan debt who owe a total of $1.54 trillion to the.

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Collections Predictions 2021: After the Debt Tsunami, the Flood

Fico Collections

Throughout the pandemic, we have discussed the debt tsunami crashing over most of the world. Unfortunately, 2021 will bring the after-effects, as credit grantors, consumers and governments try to work through a flood of uncollectable debt. Here are some of my grim predictions, with a focus on Europe. Uncertainty will continue around the economic outlook.

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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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How to Take Advantage of Low-Interest Loans During the COVID-19 Health Crisis

Credit Corp

The following is a guest post from Dr. David L Tuyo II, president and CEO of University Credit Union. While there is rampant fear and caution against a global economic downturn due to COVID-19 , this does not mean that every individual will be hit as hard as the next. Certainly, there has been and will be even more severe impact across some key industries, but this shouldn’t be a cause for panic, particularly if you aren’t financially tied directly to any of the hardest-hit industries.

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Appeals Court Affirms Ruling Compelling Arbitration in Debt Buying FDCPA Class Action

Account Recovery

The Court of Appeals for the First Circuit has upheld a lower court’s ruling that the purchaser of a defaulted credit card debt is entitled to the same arbitration opportunity as the original creditor, even though the individual who owed the debt prevailed in a civil suit filed by the purchaser because it could not … The post Appeals Court Affirms Ruling Compelling Arbitration in Debt Buying FDCPA Class Action appeared first on AccountsRecovery.net.

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Why Renting Out Your RV Has Become a Lucrative Pandemic Side Hustle

Nerd Wallet

When Tim Frye retired from his job as a project manager in 2017, he envisioned traveling the U.S. in an RV with his fiancée. But not long after spending about a quarter of a million dollars on a luxurious, 39-foot 2014 Forest River Berkshire motorhome, his fiancée left him — and he was left with. Sally French is a writer at NerdWallet. Email: sfrench@nerdwallet.com.

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eKYC – Why Malaysian Banks Must Act Now!

Fico Collections

In December of last year, the Malaysian National Bank, Bank Negara, issued a consultation document about their intention to allow eKYC in the applications process for a wide range of financial products. Little did they know that Covid-19 was about to happen and that the requirement to validate customers’ identities remotely would become an even more pressing issue.

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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?

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Decision breathes some life into Maryland’s weak anti-SLAPP statute

Public Citizen

by Paul Alan Levy. Although Maryland was one of the first states to adopt an anti-SLAPP law, its weaknesses have become apparent over the years as other states have adopted stronger protections against suits brought to suppress fress speech. Two of the most important obstacles to effectiveness of the statutes are found in the statute’s requirement that, before the law may be used as the basis for a dismissal, the trial court find both bad faith and an intent to inhibit speech on the part of the

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U.S. Chamber Endorses Sending Follow-Up Confirmation Text After Receiving Opt-Out Request

Account Recovery

The U.S. Chamber of Commerce has put its support behind a request from Capital One seeking a ruling from the Federal Communications Commission that would allow companies to send a confirmation text message to an individual who opts out of receiving messages without being held liable for violating the Telephone Consumer Protection Act. Capital One … The post U.S.

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ESG Funds: High-Rated and Low-Cost Options

Nerd Wallet

This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. When you’re adding investments to your portfolio, how well they perform may not be the only question on your mind. Investors are increasingly considering.

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Top Legal firm warns of Insolvency tsunami

UK debt collections

A Top 100 Law firm has warned of a possible tidal wave of insolvencies in Spring 2021 which risks paralysing the UK’s courts system. Manchester based JMW Solicitor’s analysis shows that corporate insolvencies adown circa 42% year-on-year in October 2020; whilst Creditor Voluntary Liquidations , are down 36%, there is a decrease of 76% for Compulsory Liquidations and a decrease of 35% for Administrations.

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You Put in a Full Work Week. Shouldn’t Your Collections Software Do the Same?

Discover a modern, cloud-based collection system that never takes a rest day. MeridianLink® Collect is an intuitive platform with advanced customization options developed to simplify the collections process. Here are four ways MeridianLink Collect can support your team: Omnichannel communications Compliance rules & checklists Workflows & queues One interface with supporting integrations And that’s just the start.