Taurus Collect
MARCH 23, 2021
Whatever business you are in, credit control is never the most enjoyable part of your week. Money collection is inevitable, but it can be frustrating, confronting, and distasteful, especially when valued clients have fallen behind in their payments for whatever reason. Sometimes, your in-house efforts to collect overdue payments can become a significant drain on resources.
True Accord
MARCH 25, 2021
Recent regulatory activity makes it clear: regulators care as much about consumer preference in debt collection as creditors. In this blog post, Kelly Knepper-Stephens, TrueAccord’s VP Legal & Compliance, highlights the recent laws and regulations designed to protect consumer preferences in debt collection. At a time when consumers’ power to impact a lender has increased dramatically, Klarna made the decision to outsource 1,005 of its debt collection activities.
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Consumer Finance
MARCH 21, 2021
The Consumer Financial Protection Bureau (CFPB) released today the 2020 annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA). The report highlights efforts by the CFPB and the Federal Trade Commission (FTC) to protect consumers, particularly those who have suffered profound financial impacts due to the COVID-19 pandemic.
Account Recovery
MARCH 26, 2021
The Maryland Senate and House of Representatives each have voted unanimously to approve their own versions of a bill that affect how medical debts are collected, but opponents of the measure were able to get a key provision removed from the bills that would have established a threshold for which collection lawsuits could be filed. … The post Maryland Legislature Passes Medical Collection Bills appeared first on AccountsRecovery.net.
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
MARCH 26, 2021
The Collections Effectiveness Index is measured as a percentage of accounts receivable collected within a given time period.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Consumer Finance
MARCH 23, 2021
Today, the Consumer Financial Protection Bureau (CFPB) provided to Congress the Consumer Response Annual Report for 2020. The impact of the COVID-19 pandemic on the consumer financial marketplace is reflected in the increase of complaints submitted to the CFPB.
Account Recovery
MARCH 25, 2021
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 Kristen DeFiore
Credit Corp
MARCH 23, 2021
Are you just starting your taxes for the 2020 tax season? If you’re panicking, don’t—we’ve got good news. The tax deadline typically falls on April 15, but this year, the IRS has extended the tax deadline to May 17 due to the pandemic. So what does this mean for you, exactly? We’ll break it down for you. Is the Tax Deadline Extension for Everyone? The 2020 tax year deadline postponement applies for individual tax payers and those who pay self-employment taxes.
Nerd Wallet
MARCH 25, 2021
Many U.S. households retire without enough money to maintain their pre-retirement standard of living. Once retired, though, people often reduce their spending enough to make their money last, according to a recent study by David Blanchett, head of retirement research at Morningstar, and Warren Cormier, executive director of the Defined Contribution Institutional Investment Association’s Retirement.
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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.
Jimerson Firm
MARCH 24, 2021
Lenders, Developers, Environmental Professionals and others over the years have come to know the industry standard for conducting and reporting environmental due diligence, “ ASTM E1527 Standard Practice for Environmental Site Assessment: Phase I Environmental Site Assessment Process ”. E1527 (commonly referred to as a “Phase I”) was designed by ASTM International to meet the requirement under CERCLA (or, “Superfund”) that a party conduct all appropriate inquiry (“AAI”) prior to a real property
Account Recovery
MARCH 25, 2021
The Court of Appeals for the Third Circuit has reversed the dismissal of a lawsuit filed by an individual against the consumer rights law firm she hired to help repair her credit that accused the firm of engaging in racketeering, consumer fraud, and unlawful debt adjustment practices, ruling that the lower court mis-applied the choice … The post Appeals Court Overturns Ruling Against Consumer Rights Law Firm appeared first on AccountsRecovery.net.
Credit Corp
MARCH 23, 2021
The following is a guest post from Paige Williams, a public relations specialist with New Roads Auto Loans. The views and opinions expressed in this article are those of the author only and are not endorsed by Credit.com. When most people think about credit and a car loan, they’re thinking about what credit score qualifies them for the car loan.
Nerd Wallet
MARCH 25, 2021
After a year of spending more time at home due to the COVID-19 pandemic, many homeowners are looking for ways to make their homes fit their new realities. Open floor plans are out; dedicated spaces for remote work and learning are in. Yards are being transformed into entertainment spaces and walls are being repainted. At. Carol J. Alexander writes for NerdWallet.
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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.
Roths Child Law
MARCH 22, 2021
You never expected to find yourself struggling this hard with your debts. Unfortunately, some find that unexpected changes in your career and finances have become crushing and you aren’t able to pay your bills. . Getting out of debt is a priority for you, but there doesn't seem to be much left after your necessary bills are paid to put toward the growing number of other debts you have -- and late fees are driving the bills ever higher.
Account Recovery
MARCH 25, 2021
Complaints about debt collectors filed by consumers with the Consumer Financial Protection Bureau increased 10% in 2020 compared with 2019, ranking the industry only behind credit or consumer reporting in terms of the total number of complaints that were filed last year, a year in which the total number of complaints increased by 54%. Credit … The post CFPB Releases Annual Complaint Report appeared first on AccountsRecovery.net.
Fico Collections
MARCH 24, 2021
In part 1 of the series on trade-based money laundering (TBML) , we established a definition of the term, explored some recent studies and highlighted some typical techniques employed by the criminals. In this second part, we will explore the challenges of countering TBML and explore some recent industry trends. Challenges in identifying and countering TBML exist at both the public and private sector levels, with a lack of understanding, awareness, and collaboration both domestically and interna
Nerd Wallet
MARCH 25, 2021
The COVID-19 recession shriveled the bank accounts of countless homeowners. If you entered mortgage forbearance last April or May because of the pandemic, you have plenty of company: Almost a million people will reach their 12-month forbearance anniversaries in those months of 2021. In total, more than 2.5 million remained in forbearance plans as of.
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?
PDC Flow
MARCH 23, 2021
An essential part of running an accounts receivable business is keeping up with trends that will impact the industry and your agency. With the recent changes caused by coronavirus, new regulations and emerging technology, it’s important to understand the risks your company faces. Just as important, you must know the latest risk management strategies to keep issues to a minimum.
Account Recovery
MARCH 25, 2021
GETTING TO KNOW KRISTEN DEFIORE OF GLASSER AND GLASSER Finishing law school and passing the bar is no joke, any attorney will tell you. Doing it while working full time is just showing off. But that accomplishment speaks to the kind of ambition and passion for the law that Kristen DeFiore has. Read on to … The post Daily Digest – March 25.
Credit Corp
MARCH 22, 2021
All my bags are packed, and I am ready to go. But will my existing debts follow? This slightly distorted version of John Denver’s song played in my head as I planned my move from India to Canada. Like many before me, I wondered if my credit score will follow me abroad. More importantly, will my existing debts impact my credit score in a new country?
Nerd Wallet
MARCH 23, 2021
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. Women do it all — lead households, pay bills, run companies. But when it comes to saving and investing, advisors say there’s more women. Tiffany Lam-Balfour writes for NerdWallet.
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?
Fraser
MARCH 25, 2021
If you are a private employer with under 500 employees, were you aware you can voluntarily extend FFCRA paid leave from April 1 through September 30, 2021 and still receive a tax credit? This is now allowed under the American Rescue Plan Act (“ARPA”), which was enacted on March 11, 2021. However, be cautious. ARPA changes the rules for Emergency Paid Sick Leave (“EPSL”) and Emergency FMLA Extension (“EFMLA”).
Account Recovery
MARCH 24, 2021
ANSWERING CREDIT REPORTING QUESTIONS ABOUT SOL, CREDIT REPAIR ORGS, HOW TO REPORT PAID ACCOUNTS The statute of limitations is quite the kettle of fish for companies in the accounts receivable management industry. Determining which particular statute of limitations from which state applies is usually about as straightforward as getting through a maze.
PBWT
MARCH 23, 2021
In January 2020 we reported that, after the reconsideration suggested by two Supreme Court justices and revisions to account for the Supreme Court’s Merit Management decision, [1] the Court of Appeals for the Second Circuit stood by its original holding, [2] in an appeal that was first argued in 2014, that the payments to former Tribune shareholders that Tribune creditors were seeking to avoid were protected from avoidance by the “safe harbor” provided by Code Section 546(e). [
Nerd Wallet
MARCH 24, 2021
Want to become a frequent flyer “millionaire?” You might not know it, but you could be well on your way with your preferred frequent flier program’s currency to becoming a mileage millionaire. Some airlines offer million-miler programs that track your mileage earning over the course of your lifetime. These programs reward million mile status customers that.
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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.
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