True Accord

OCTOBER 5, 2022

Delivering communications to your customers has always been a compliance challenge with the plethora of laws, regulations, court decisions, and regulatory guidance in the debt collection space. Today with more communication channels available and regular communication from debt collection regulators—via consent orders, compliance bulletins, supervisory highlights, and even press releases—your compliance management systems and design must be flexible and easy to update.

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Collections Collection Agencies Collections Agency Education 84

Nerd Wallet

OCTOBER 4, 2022

Financial misinformation is rampant, and it could be hurting your credit score. A new NerdWallet survey finds that Americans hold many misconceptions about their credit, some of which could seriously damage their scores. Here are three common credit score myths and how to guard against them. Myth 1. Leaving a balance on your credit card. Erin El Issa writes for NerdWallet.

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Debt Recoveries

OCTOBER 3, 2022

Recoveries are the Bermuda triangle of the claims process, where recoverable funds are all too often lost, forgotten, or not given the priority they deserve. To avoid the Bermuda triangle, gather all relevant information at the start of a claim. These will include quotes/invoices, Third Party information, insurance information, witness contact information, obtaining statements and applying for police reports, and so on.

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Debt Recovery Debtor Collections 98

Account Recovery

OCTOBER 7, 2022

It’s not an option open to every defendant, but a defendant has found one way to defeat a Hunstein copycat case — a vague disclosure made during a bankruptcy filing. A copy of the ruling in the case of Dervitz v. ARS National Services can be accessed by clicking here. The plaintiff filed a class-action … The post ‘Vague’ BK Reference Kills Hunstein Class Action appeared first on AccountsRecovery.net.

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Bankruptcy 246

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

OCTOBER 1, 2022

Growing a new company isn't for the faint at heart. Employees must be passionate, willing to go the extra mile, and work long hours as part of a cycle of endless expectations. With so many American employees complaining of burnout and " quiet quitting ," startups are facing the same struggles as enterprise companies. Use these tips to inspire your startup employees to stay engaged.

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Startups 182

Troutman Sanders

OCTOBER 7, 2022

On June 23, the Consumer Financial Protection Bureau (CFPB) issued a final rule , prohibiting consumer reporting agencies (CRAs) from reporting adverse information resulting from human trafficking on survivors’ credit reports. This rule took effect on July 25. The CFPB’s final rule amends Regulation VII, the Fair Credit Reporting Act’s (FCRA) implementing regulation, to comply with the 2021 Debt Bondage Repair Act’s credit reporting requirement.

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Account Recovery

OCTOBER 7, 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 Plaintiff Sues Collector, Claiming Defendant Told Her Not to Show Up For Court Hearing appeared first on AccountsRecovery.net.

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Enterprise Recovery

OCTOBER 7, 2022

If we think of cash flow as important as oxygen to the human body, then accounts receivable is as important as the lungs. When extending credit to clients or invoicing them for goods and services, we're expecting pure, clean cash to flow back into our business. If invoices remain unpaid or the client's credit is unreliable, then the cash flow becomes clogged, effectively killing the business.

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Collections 174

Nerd Wallet

OCTOBER 1, 2022

Making money with Bitcoin (BTC) has become increasingly difficult in 2022. Prices have tumbled following a crypto crash. Promises of free Bitcoin are often scams. Bitcoin mining, once accessible to individual investors, is now so competitive that it’s rarely a profitable venture for those with small setups. However, it’s still possible to make money with.

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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.

Collections

Troutman Sanders

OCTOBER 7, 2022

Please join Consumer Financial Services Partner Dave Gettings and his colleagues Ethan Ostroff, Brooke Conkle, and Jon Kenney as they discuss the Third Circuit’s recent decision in the Bibbs case, particularly the Third Circuit’s treatment of “pay status” allegations and what we can expect to see going forward. Ethan Ostroff advises companies on compliance issues and interactions with regulators concerning the Fair Credit Reporting Act, while also defending furnishers, users, and specialty consu

Fair Debt Collection 52

Fair Debt Collection Financial services Collections 52

Account Recovery

OCTOBER 7, 2022

PLAINTIFF SUES COLLECTOR, CLAIMING DEFENDANT TOLD HER NOT TO SHOW UP FOR HEARING A plaintiff on Social Security has filed a lawsuit claiming she was told by a collector that had filed a collection lawsuit not to show up for a court hearing because the case was going to be dismissed. More details here.This content … The post Daily Digest – October 7.

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Collections 246

Qualco

OCTOBER 6, 2022

The new economic landscape is pushing businesses that manage Big Ticket NPLs to adapt to the challenges of the post-pandemic era. Digital collections tools and self-service platforms are on the rise and have empowered lenders to work more efficiently with their customers. While a digital-first approach may bring increased collections rates for customers with unpaid bills and missed installments, that is not the appropriate method for portfolios mostly comprised of Big Ticket mortgages and SME lo

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Collections Financial Institution Lender Loans 52

Nerd Wallet

OCTOBER 1, 2022

When it comes to the cost of car batteries, electric vehicles take the trophy for the most expensive type. Depending on the make and model of your vehicle, a battery can run you between $4,000 and $20,000. If you own your electric vehicle long enough to need to replace the battery, this maintenance will be. Whitney Vandiver writes for NerdWallet. Email: wvandiver@nerdwallet.com.

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Loans 102

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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.

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Troutman Sanders

OCTOBER 6, 2022

Please join Troutman Pepper Partner Chris Willis and his guest and fellow Partner Glen Trudel as they discuss credit card rewards and loyalty programs and the co-brand relationship. Topics include: The importance of the co-brand credit card pairing; Issues, concerns, or risks that both the merchant and the card issuer encounter in co-brand rewards programs; and Current trends in the marketplace for credit card rewards programs.

Acquisition 52

Acquisition Financial Institution Lender Financial services 52

Account Recovery

OCTOBER 5, 2022

Birmingham, Alabama – ARM Compliance Business Solutions is excited to announce that Rick Paulin has joined the company as a Learning & Development Advisor. In this role, Rick will support ARM Compliance Business Solutions clients through building robust and effective role-based training programs through live and online platforms. Rick joins the company with over 30 … The post Learning & Development Advisor, Rick Paulin joins ARM Compliance Business Solutions appeared first o

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JMA

OCTOBER 5, 2022

Having difficulties recovering money owed by clients and customers is nothing new for businesses in Australia. In fact, it’s a tale as old as time. When a business operates on a credit model – where they provide their services or goods, prior to receiving a payment or a full payment, from their client – it. Read more » The post Should You Work with a Debt Collector or Lawyer to Recover Debts?

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Debt collector Lawyers 52

Nerd Wallet

OCTOBER 5, 2022

Rising interest rates and uncertain economic conditions are intensifying a slowdown in financing-related activity among small businesses, according to the newest release of the NerdWallet Small-Business Financing Index. The NerdWallet Small-Business Financing Index evaluates factors such as loan delinquency rates, loan volumes, credit card use and optimism among small-business owners.

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Loans 100

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?

Financial services

Troutman Sanders

OCTOBER 5, 2022

Banking groups are taking issue with a report by Senator Elizabeth Warren (D-MA) regarding the prevalence of fraud on Zelle, the popular peer-to-peer (P2P) payment service. In an October 3 joint statement , the Consumer Bankers Association, American Bankers Association, Bank Policy Institute, and The Clearing House expressed their collective disagreement with the report’s conclusions that fraud and theft are rampant and growing on the platform, banks are not refunding when customers were fraudul

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Banks Financial Institution Collections 52

Account Recovery

OCTOBER 6, 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 Maryrose Diaz of

Accounts Receivables Management 246

Accounts Receivables Management 246

NCBA Law Practice Management Blog

OCTOBER 5, 2022

No one likes meetings; and, that includes lawyers who manage other attorneys, or staff. I hear about it all the time: too many meetings, too much wasted time. Well, there are at least a couple of ways that law firms can reduce meetings and meeting time. The first is to lean into technology, to reduce the need for certain meetings. If you can delegate work effectively , and add workflows to softwares , you won’t need to hold as many status meetings (or, you may be able to eliminate them entirely)

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Law Firms Lawyers Creditors 52

Nerd Wallet

OCTOBER 5, 2022

October is the new Black Friday. At least that’s the impression some retailers give. Target and Amazon head into the month hot with big discount events this week and next, respectively. Shoppers may find the early sales a worthy way to save money on gifts now. But don’t panic if you’re not feeling the holiday. Tommy Tindall writes for NerdWallet. Email: ttindall@nerdwallet.com.

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Retail 96

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?

Banks

Troutman Sanders

OCTOBER 4, 2022

On September 29, the Consumer Financial Protection Bureau (CFPB or Bureau) released a special edition of its Supervisory Highlights , focusing on student loan servicing. The report contained findings on federal student loan servicing that echo many recent public comments by the Bureau, but more notably, this edition of Supervisory Highlights also focused heavily on loans made by schools themselves, and the CFPB simultaneously announced that it was updating its examination manual and would be con

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Student loans Student Loans Loans Education 52

Account Recovery

OCTOBER 6, 2022

A nonprofit healthcare system that is being sued by the Attorney General of Washington and which was the subject of a profile in The New York Times for the “pressure” it put on patients to pay their debts has announced it is going to refund payments made by more than 700 low-income patients who were … The post Hospital Sued for ‘Aggressive’ Collection Efforts Refunds Payments from Low-Income Patients appeared first on AccountsRecovery.net.

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Healthcare Collections 246

FFGN COLLECT NY

OCTOBER 4, 2022

Companies that grow by acquisition are often faced with challenges when taking a deep dive into recently acquired new customer accounts. Although acquisitions can increase your customer base, new client relationships don’t always go as anticipated. The predecessor company had a history–maintaining customer accounts with previously established patterns of doing business, deliverables, and customer payment schedules.

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Acquisition Collections Construction Debtor 52

Nerd Wallet

OCTOBER 3, 2022

Using a credit card to pay for almost everything can help you track spending, build credit and earn rewards, so long as it doesn’t tempt you to overspend. That advice is especially relevant when it comes to everyday expenses. By picking the right credit card, you’ll earn anywhere from 2%-5% back on purchases that you. Jae Bratton writes for NerdWallet.

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