2019

Get Back: Lawyers are Really Bad at Following Up with Leads

Jared Correia

Perhaps the most damning of a series of damning facts about law firms released within the latest Clio Legal Trends Report ( link here ), is this: 89% of lawyers surveyed believed that their law firms followup with potential clients within 24 hours; 62% of law firms actually never follow up with leads at all. I’ll let that sink in.

Moving Up: Bankruptcy Code Dollar Amounts Will Increase On April 1, 2019

In the Red

An official notice from the Judicial Conference of the United States was just published announcing that certain dollar amounts in the Bankruptcy Code will be increased about 6.2% this time for new cases filed on or after April 1, 2019. Follow this link for the Federal Register page with a chart listing all of the updated dollar amounts.

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Optio Solutions Staff Reaches 20 Straight Months of Volunteerism

Joe Gargiulo

Petaluma, Calif. 26, 2019) — Staff members of Optio Solutions and affiliate, CrossCheck, have reached 20 straight months of volunteer work at the Redwood Empire Food Bank in Santa Rosa.

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How satisfied are you with your collections solution? The 9 key questions

Qualco

Collections Analytics Technology Loans Portfolio Credit

How Preparation and Strategy Can Be Used to Fight and Defeat Any Ransomware Attack

Speaker: Karl Camilleri, Cloud Services Product Manager at phoenixNAP

Through a detailed analysis of major attacks and their consequences, Karl Camilleri, Cloud Services Product Manager at phoenixNAP, will discuss the state of ransomware and future predictions, as well as provide best practices for attack prevention and recovery.

VA Disability No Longer Income for Bankruptcy Means Test

Debt Free Colorado

House Resolution 2938, the Honoring American Veterans in Extreme Need Act of 2019 or the HAVEN Act, was written to “exempt from the calculation of monthly income certain benefits paid by the Department of Veterans Affairs and the Department of Defense” Previously, VA disability was counted toward total income under the bankruptcy means test.

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In-House vs. Outsource - What Makes Sense for Your Collection Operation?

Credit Management Company

Successfully collecting past-due accounts is a large source of revenue for organizations. For healthcare companies in particular, collecting from patients accounts for 88% more revenue than it did in the past. Improving collections, however, can require a significant amount of effort, persistence, and resources. Companies ultimately have two choices: collect past-due accounts in house or hire an outsourcing service.

5 Reasons Why a Small Business Needs a Collection Agency

Turbo Recovery

Almost every business owner has encountered overdue accounts and unreliable customers can have a negative impact on your business. As a small business owner, you may not have the time to make frequent phone calls to collect debt and the older the debt gets, the harder it is to collect. Hiring a debt collection agency is one of the easiest and smartest ways to put the focus back on your business. Here are five reasons why you should hire a collection agency: 1. Let us be the professionals.

Supreme Court Rejects Discovery Rule in FDCPA Cases

Brit J. Suttell

The United States Supreme Court has affirmed the Third Circuit Court of Appeals’ decision in Rotkiske v. Klemm , holding that Section 1692k(d) of the FDCPA “unambiguously sets the date of the violation as the event that starts the one-year limitations period.” The decision overrules cases from multiple circuits that have allowed application of the “discovery rule” in FDCPA cases.

Continuous Change: 4 Lifelines

Receivables Control

Keeping up with continuous change is exhausting! If you are in the credit industry, you know that most credit professionals work in pressure-filled environments with constant requirements to accomplish more with less resources. It’s always something; whether it’s consolidating operations to a central locale or software and operating systems’ updates. Throw turnover, leadership changes, and mergers and acquisitions into the mix and you have the recipe for a fast-paced career!

Mandatory COVID Vaccination Policy Template

The federal government is developing a rule requiring employers with more than 100 employees ensure their workers are vaccinated or produce a negative COVID test weekly before entering the workplace. So, what can your organization do to prepare? Get Paycor’s COVID Vaccination Policy Template to help communicate important details to your employees.

Why Credit Card APR’s Are Rising, Despite Fed’s Third Rate Cut of 2019

Bents Dulcio

Typically, a decrease in the federal funds rate means your credit card APR should fall as well, but that’s not what is happening lately in the U.S. economy. Banks have backed themselves into a corner with an influx of cash-back and travel rewards credit cards, dishing out perks they can’t afford. Now, consumers are paying […]. The post Why Credit Card APR’s Are Rising, Despite Fed’s Third Rate Cut of 2019 appeared first on Debt.org. Personal Finance

Banks 54

Copy That: How to Manage Law Firm Data Backup

Jared Correia

It can’t happen to you until it does. I’m talking about the business disaster that could strike your law firm at any moment: flood, fire, data breach, device breakdown, smoke damage, truck carrying 30000 pounds of bananas careening out of control. Well, you get the picture.

Amendments To The Federal Rules Of Bankruptcy Procedure Take Effect December 1, 2019

Bob Eisenbach

Each year amendments are made to the rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. The rule amendments are ultimately adopted by the U.S. Supreme Court and technically subject to Congressional disapproval. Only A Few Rule Amendments This Year.

Debt-Service Coverage Ratio: A Useful Financial Measurement for Assessing Future Debt Recovery

admin

Debt-service coverage ratio (DSCR) is a vital corporate finance tool. It’s how lenders measure an organization’s available cash flow to pay off debt obligations, essentially a credit score for a business. Even governments use DSCR to determine other countries’ ability to pay for the goods it exports. For perspective, the U.S. government’s public debt hit a historic high of $22 trillion in Feb 2019 , according to the U.S. Treasury Department.

Keep your collections floor happy!

Qualco

Collections Analytics Technology Loans Portfolio Credit

4 New Year’s “AResolutions” for a Growing Business

Lucy Pink

Make 2020 the year of avoiding the pains (and costs) of mishandled accounts receivable (AR). Establishing an effective AR process is a crucial part of running a successful business (and our accounts receivable software makes it easy!).

Dear Debt, This Won’t Last

Melanie

Hello debt fighters! We have a dear debt letter from Nia Simone, a personal finance writer for the website Money Done Right. Dear Debt, You are the weight that’s constantly… Related Posts: Dear Debt, You Almost Killed Me. Dear Debt, You Make Me a Bitter Betty. Dear Debt, I Was Cheating on You. Dear Debt, I Am Enough. What the Worst Year of My Life Taught Me About Money. The post Dear Debt, This Won’t Last appeared first on DEAR DEBT

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How to Spot a Scam Call

Credit Management Company

According to industry research, nearly half of all cell phone calls in 2019 will be scam calls. As more Americans become aware of this problem, they become more likely to avoid any phone interaction involving money. For some debt collectors, this can be a big problem. While collecting medical debt is not a scam, many collectors are unaware that they behave in a way that's similar to scams.

Bankruptcy for Married Couples

Matthew Alden

When there is consistently more month than money and your financial situation continues to deteriorate due to job loss, medical bills, or consumer debt, it may be time to consider your legal alternatives. Among the options available is bankruptcy for married couples.

Foreign Judgment Collections From a Trusted Collections Attorney

admin

Trying to collect on your foreign judgment can sometimes appear a futile effort with unfamiliar road blocks seeming to protect the judgment debtors.

Dealing with Debt Collectors

J Roquez

Debt collectors get an incredibly poor reputation, but they are invaluable to both businesses and individuals. While it may not be easy to see it this way, they provide a unique and important service. Many of those that reside in this profession may not want to even reveal to friends and family what they do for a living. They have a reputation of being harassers of everyone, but in reality, they are just doing their job and aiding businesses in getting their money back.

Brit Suttell Elected to Board of NCBA

BN Lawyers

Barron & Newburger is proud to announce that Brit Suttell has been elected to the Board of Directors of the National Creditors Bar Association. Suttell works in the Pennsylvania office of Barron & Newburger, P.C.

Difference Maker: Utilization Rate Separates Growing Law Firms from Shrinking Ones

Jared Correia

The 2019 Clio Legal Trends Report (download link here ) , which is a longitudinal study of law firm data across a variety of categories, including internal efficiencies and external relationships with clients. It’s a fascinating read every year; and, that includes 2019.

In A Major Victory For Trademark Licensees, Supreme Court Holds That Rejection Of A Trademark License Does Not Terminate The Licensee’s Rights

In the Red

A Big Answer To A Big Question. After dividing the courts for a number of years, we finally have the answer to the big question of whether rejection of a trademark license by a debtor-licensor deprives the licensee of the right to use the trademark. Here’s the question on which the Supreme Court granted certiorari in the Mission Product Holdings, Inc.

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How To Hire the Right Person

C2C Resources

It’s tempting to hire quickly to fill a position, especially if you’re feeling desperate. But the end result of a bad hire can be significant and costly. The hiring decision should not be based solely on presentation.

How Businesses Use Corporate Debt Restructuring for Liquidity

admin

Corporations have been increasingly defaulting on debt, with many businesses are struggling to maintain revenues and liquidity. Sometimes businesses aren’t prepared for market changes or a slump stretches longer than it should have, causing them to fall further into debt as bills pile up. Banks can seize business assets and liquidate as a last resort to cut their losses. There are only three ways for distressed companies to make ends meet when things get bad: Issue Equity.

Save Time and Attorney Costs, Increase Recoveries!

Receivables Control

Tired of wasting time and incurring high attorney costs while suing to recover debts? Perhaps you feel it’s a lost cause before you even start the process! Maybe you have spent so much time with all the back and forth that you wonder if you became your attorney’s assistant. If you feel this way, it’s time for a different approach. By trusting an experienced partner you’ll find a pathway to success that saves you time, frustration, and attorney costs!

Katabat Platform to Support SoFi Ominchannel Personal Loan Collections

Katabat

WILMINGTON, Del., 3, 2019 – Katabat, a leading global supplier of debt management software solutions, today announced that SoFi, a leading personal finance company in the U.S., has selected Katabat as its technology partner.

How a Debt Collection Agency Can Help Your Cash Flow

Credit Management Company

Insufficient cash flow is a financial problem that all companies experience at one time or another. Everything from waste and inefficiency to poor sales and conversions can cause this problem, but the failure of clients or customers to pay what they owe is a unique issue with a clear and effective solution: professional debt collection.

Passion for Sports Underpins Successful Accounting Firm

Lucy Pink

Sports Accounting Australia (SAA) is all about sports. They’ve been assisting national and state sporting bodies across Australia with their finance and business planning for over a decade.