Account Recovery

APRIL 3, 2023

Rodney Dangerfield went “Back to School,” didn’t he? So why can’t aspiring debt collectors do it, too? Many might not remember Dangerfield and the 1986 classic movie where the then-65-year-old comedian played a father who enrolled in college to be with his son (totally worth re-watching if only to see pre-Ironman Robert Downey, Jr., and … The post Three Keys to Building Effective Training Programs first appeared on AccountsRecovery.net.

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Debt collector 130

American Profit Recovery

APRIL 3, 2023

Cash flow is the lifeblood of any business, and your small business can be vulnerable to cash flow issues. And economic conditions can be a major driver, whether it be negative or positive cash flow. Without a steady flow of cash, your small business could struggle to meet your own financial obligations, attend to basic expenses, meet payroll, invest in growth and so much more.

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Collection Agencies Collections Agency Collections 215

Account Recovery

APRIL 5, 2023

A medical debt collection bill has been introduced in the Delaware legislature that has support from both sides of the aisle and a large number of co-sponsors, giving it some momentum to become law. Like many of the other medical collection bills being considered in state legislatures across the country, this piece of legislation would … The post Medical Debt Collection Bill Introduced in Delaware first appeared on AccountsRecovery.net.

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Collections 246

PDC Flow

APRIL 4, 2023

An organization’s billing process can depend on the goods and services offered and the audiences served. Your company should follow best practices based on industry but there will always be room to customize and improve workflows. Reviewing the billing tactics and tools your business uses will: Save money through more efficient processes Save staff time following up on unpaid invoices Increase customer satisfaction Here are some billing process examples, the workflows they’re best for, and gener

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Manufacturing Healthcare Collections Loans 72

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.

Debt Recoveries

APRIL 2, 2023

In the recent article regarding car crash debt recovery scams by “not at fault” recovery agents, it is suggested to discuss the actions that can be taken if an individual receives a demand from one of these recovery agents, credit hire companies, or smash repairers. How Does it Work? The workings of credit hire companies have become the focus of an increasing number of litigated matters, according to recent observations.

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Account Recovery

APRIL 7, 2023

Kudos to the Washington Collectors Association for getting a bill passed through the state legislature that will require credit repair services to obtain written authorization from a consumer prior to communicating with a consumer reporting agency, creditor, or collection agency while also placing other conditions on how credit repair services interact with consumers.

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Collection Agencies Collections Agency Creditors Collections 245

Troutman Sanders

APRIL 6, 2023

On April 3, the U.S. Department of Justice (DOJ) announced that it has seized virtual currency worth an estimated $112 million linked to cryptocurrency investment scams. Seizure warrants for six virtual currency accounts were authorized by judges in the District of Arizona, the Central District of California, and the District of Idaho. The virtual currency seized is expected to be returned to the victims.

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Trade 98

Consumer Finance

APRIL 4, 2023

Today, the Consumer Financial Protection Bureau (CFPB) took action against James R. Carnes and Melissa C. Carnes, both individually and as co-trustees of the James R. Carnes Revocable Trust and the Melissa C. Carnes Revocable Trust for hiding money through a series of fraudulent transfers in order to avoid paying more than $40 million in restitution and penalties for illegal payday lending activities.

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Loans 98

Fico Collections

APRIL 3, 2023

Home Blog FICO Advancing the Science of Optimization: FICO & Zuse Institute Berlin FICO partners with Zuse Institute Berlin on critical research into mathematical optimization FICO Admin Tue, 02/18/2020 - 14:57 by Oliver Bastert Vice President, Product Management expand_less Back To Top Mon, 04/03/2023 - 11:45 As a result of the pandemic, interest in mathematical optimization has risen to new heights.

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Education Financial services Government 97

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Account Recovery

APRIL 7, 2023

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 Collector Facing Class Action for Sending Email After 9pm first appeared on AccountsRecovery.net.

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True Accord

APRIL 5, 2023

It’s tax season again, which can mean tax refunds for consumers that have historically been leveraged to stabilize finances or pay down debt. But with inflation and economic stressors persisting into the new year, many consumers are conflicted on their financial outlook and spending behavior is hard to predict. With uncertainties about how the end of various pandemic-era benefits will impact consumers, it’s more important than ever for creditors and collectors to implement strategies that consid

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Student loans Student Loans Credit Card Debt Loans 94

Consumer Finance

APRIL 2, 2023

Today, the Consumer Financial Protection Bureau (CFPB) issued a policy statement that explains the legal prohibition on abusive conduct in consumer financial markets and summarizes over a decade of precedent.

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Jimerson Firm

APRIL 6, 2023

Many disputes that result in litigation are resolved through the mediation process prior to trial. In fact, Florida’s Homeowners’ Association Act, Chapter 720, Florida Statutes, requires mandatory mediation for certain types of disputes between homeowners and the association before any lawsuit can be filed. See Fla. Stat. § 720.311(2). Florida circuit courts also typically require that the litigants attempt to mediate their civil dispute prior to the trial occurring.

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Government 92

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Collections

Account Recovery

APRIL 7, 2023

Thanks to Barron & Newburger for spotting this … The Court of Appeals for the Sixth Circuit has upheld a ruling for the plaintiff that ordered the defendant in a Fair Debt Collection Practices Act case to pay $51,000 in damages and $88,000 in attorney’s fees after a jury ruled the defendant misrepresented that a … The post Appeals Court Affirms $130k Ruling for Plaintiff in FDCPA Case first appeared on AccountsRecovery.net.

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Fair Debt Collection Collections 130

Credit Corp

APRIL 3, 2023

Studies show the majority of adults in America can’t cover the cost of a $1,000 emergency. This lack of savings may put these consumers at significant risk and unable to navigate even a small financial emergency. How Much Should a Person Save for Emergencies? Experts agree that the average emergency fund per month is between 3 and 6 months of expenses.

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Loans 98

Consumer Finance

APRIL 2, 2023

Director Chopra delivered prepared remarks on fair dealing in financial markets to the University of California Irvine Law School.

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UK debt collections

APRIL 4, 2023

A COMPANY linked to an Outlander star has been accused of stealing tens of thousands of pounds from desperate firms in a debt collection scam , The Scottish Sun can reveal. Actor Paul Donnelly – who plays Ronnie Sinclair in seasons five and six of the hit period drama alongside Sam Heughan – quit as director of under-fire Vanguard Partners after it allegedly recovered the cash then kept it.

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Collections Debtor Banks Collection Companies 64

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

Account Recovery

APRIL 7, 2023

Buy Now, Pay Later services were originally intended to be a form of short-term financing, to spread payments out for different types of purchases across a relatively short period of time. But new evidence suggests that more consumers are using BNPL as “lifelines” that help them get by until they receive their next paycheck. A … The post More Consumers Using BNPL to Help Make Ends Meet: Survey first appeared on AccountsRecovery.net.

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Credit Corp

APRIL 5, 2023

Saving for retirement is an extremely important step for protecting your financial future. In fact, the earlier you can start saving for retirement, the better. Perhaps you have a 401(k) set up through your employer. This can be a great first step, especially if your employer offers matching funds. However, it’s not the only option you have for retirement savings.

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True Accord

APRIL 4, 2023

Disclaimer: The information provided in this blog post does not, and is not intended to, constitute legal advice. Protecting consumer privacy is not an unfamiliar concept in our industry and it’s something that should already be woven into our policies, procedures, and practices. With the rapid increase of state privacy laws across the United States, any company that collects, uses, transmits, or receives consumer data has to stay up-to-date on all related compliance issues.

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Collections Lawyers Financial services Banks 54

UK debt collections

APRIL 6, 2023

Glasgow City Council has unanimously voted in favour of scrapping school meal debts in the city’s schools. It is hoped the measure will help families who are struggling with the cost of living crisis. The move, which will cost an estimated £300,000, will be covered by council reserves. Education convener Christina Cannon said there was evidence many children were going hungry as families struggled with cost of living pressures.

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Trade Government Education 59

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

Account Recovery

APRIL 7, 2023

COLLECTOR FACING CLASS ACTION FOR SENDING EMAIL AFTER 9PM A collector is facing a Fair Debt Collection Practices Act class-action lawsuit in a Pennsylvania district court because it allegedly sent an email to the plaintiff after 9pm. More details here. This series is sponsored by WebRecon APPEALS COURT AFFIRMS $130K RULING FOR PLAINTIFF IN FDCPA … The post Daily Digest – April 7.

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Fair Debt Collection Collections 130

Collections Law

APRIL 7, 2023

If you have a judgment against a Massachusetts commercial debtor, it may surprise you to learn that the courts don’t unilaterally enforce judgments. You sill have to collect – and you’re not going to do that with letters and phone calls. It’s even more maddening when your debtor continues to operate, paying bills, ordering new things, and collecting on the debts owed to them.

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Debtor Collections Judgment Lawyers 52

Troutman Sanders

APRIL 6, 2023

Please join Troutman Pepper Partner Chris Willis and his colleagues Caleb Rosenberg and Josh McBeain as they discuss a string of recent developments in small business financing at both the state and federal level, including the CFPB’s small business data collection rule and the regulations under state disclosure laws. Caleb Rosenberg focuses his practice on helping small business finance companies, banks, fintech companies, and licensed lenders navigate regulatory risks posed by state and federa

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Financial Institution Financial services Lender Banks 52

UK debt collections

APRIL 5, 2023

Newham Council has been forced to write off over £7.2million in Penalty Charge Notice (PCN) debt this week as bailiffs have been unable to trace drivers due to them moving elsewhere or no longer living at their address. Since 2021, the council has written off a total of £55.64m relating to parking debt between 2014/15 and 2021/22. Speaking at Tuesday’s cabinet meeting (April 4), deputy mayor and cabinet member for environment and sustainable transport, James Asser said: “We started t

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Collections 59

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