Account Recovery

NOVEMBER 10, 2021

The Federal Trade Commission has permanently banned a payment processor from processing debt relief payments after it was accused of facilitating a student loan debt relief scheme while also requiring the company and its owner pay $500,000 that will be used to refund individuals who were duped by the scam.

Student loans 246

Student loans Student Loans Trade Loans 246

Account Recovery

NOVEMBER 9, 2021

After announcing last month that it was going to investigate how big tech giants like Google and Apple use the payment information they collect from consumers, the Consumer Financial Protection Bureau has opened a comment period allowing anyone to submit their thoughts, opinions, and questions to inform the regulator’s inquiry.

Collections 244

Collections 244

Account Recovery

DECEMBER 10, 2021

As the clock continues to count down toward the restart of individuals having to make payments on their student loans, lawmakers are pulling out all the stops to keep that from crippling the financial situations of millions of borrowers as the country deals with record inflation and a rising number of COVID-19 cases across the … The post Lawmakers (..)

Student loans 242

Student loans Student Loans Loans Collections 242

Account Recovery

MARCH 4, 2021

The Consumer Financial Protection Bureau yesterday made a pair of announcements — delaying the enactment date of a rule that was set to go into effect July 1 and filing a lawsuit against a payment processor and its former chief executive for aiding clients that were taking advantage of individuals by tricking them into purchasing … The (..)

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Account Recovery

FEBRUARY 22, 2021

A service that works with utilities and state and local governments to develop payment plans for individuals with unpaid debts has raised $20 million in Series A funding, on top of the $10 million it had previously raised.

Government 162

Government 162

Enterprise Recovery

AUGUST 30, 2021

Here's how to respond to delinquent customer excuses for late payments. If your in-house accounts receivable or collections department is fielding some of these excuses, here are some tips on how to handle them.

Collections 237

Collections Collection Agencies Collections Agency 237

Enterprise Recovery

DECEMBER 10, 2021

Chasing down late payments is no one's idea of fun. Here are the top A/R trends to get those late payments finally paid! Have you considered making it easier for your clients to pay what's owed to you?

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Account Recovery

DECEMBER 7, 2021

Does allegedly agreeing to a payment plan only to back out of it constitute an unfair or deceptive practice under the Fair Debt Collection Practices Act?

Fair Debt Collection 246

Fair Debt Collection Collections 246

Account Recovery

OCTOBER 6, 2021

For all the talk about moving debt collection and paying bills into the 21st century by allowing consumers to communicate via text messaging and pay bills using apps like Venmo, a published report is touting the expanding presence of an old school brick-and-mortar building — the post office — as a financial services hub for … The (..)

Financial services 246

Financial services Collections 246

Enterprise Recovery

OCTOBER 23, 2021

With the holidays quickly approaching, it can be easy to fall under the notion that your customer payments will arrive as usual. Here are 5 steps to take to avoid late payments during the holidays. ?. In reality, some businesses will shut down for weeks during the holiday season, narrowing the window for paying invoices.

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197

Account Recovery

MARCH 1, 2021

More than 44% of individuals with student loan debt have not made any payments since last March, according to the results of a poll released on Friday.

Student loans 246

Student loans Student Loans Loans 246

Account Recovery

JANUARY 5, 2021

The Internal Revenue Service has rejected a recommendation from an auditor that recommended the private collection agencies stop being paid commissions when accepting payments outside of formal payment arrangements, saying that it believes it is complying with the law by allowing the agencies to do so.

Collection Agencies 195

Collection Agencies Collections Agency Collections 195

Account Recovery

AUGUST 17, 2021

The analysis looked at individuals who are in income-driven repayment plans and voluntarily have made payments … The post Consumer Advocacy Report Details Number of Individuals Still Making Student Loan Payments During Pandemic Who are Underwater appeared first on AccountsRecovery.net.

Student loans 246

Student loans Student Loans Loans Government 246

Enterprise Recovery

APRIL 9, 2021

Manufacturers were unable to move products due to global supply chain challenges and small-to-medium businesses faced delayed payments. Are your client payments still affected by the COVID-19 pandemic? With states lifting mandates and vaccines in arms, there seems to be a light at the end of the tunnel.

Manufacturing 181

Manufacturing Collections 181

Account Recovery

APRIL 13, 2021

Prosecutors have seized an additional $400,000 from a payment processing company that allegedly laundered money for a debt collector who is being investigated by federal authorities, according to a published report.

Collection Agencies 173

Collection Agencies Collections Agency Debt collector Collections 173

Enterprise Recovery

SEPTEMBER 3, 2021

Is there a nice way to collect payments from clients affected by natural disasters? Unfortunately , we've already witnessed the power of Hurricane Ida across the country with much of its impact still to be determined. Just as we've discovered with the COVID-19 pandemic, asking for money during this time seems precarious.

Collections 186

Collections 186

Nexa Collect

JANUARY 16, 2021

Delays or interruptions in customer payments can jeopardize all of your downstream activities, leading to potential losses, bad credit, and eventually more serious consequences for your business. Here are several key paths and practical tips to use in order to avoid payment delays and prevent cash-flow issues. Trust and communication.

Manufacturing 130

Manufacturing Debtor Debt Recovery Collections 130

Nexa Collect

JULY 10, 2021

In that case, even though “using payment processors does not fall under the HIPAA regulation, invoicing and billing needs to comply with HIPAA requirements”. Not all software programs or payment platforms are HIPAA-compliant. But once you list the payment options on the invoice, you must verify that they’re all HIPAA compliant.

Banks 130

Banks Collections 130

Account Recovery

JULY 15, 2021

Of those who aren’t going … The post Fewer People Expect to Miss Debt Payments, But Of Those Who Do, Finding Funds Will be Difficult: TransUnion appeared first on AccountsRecovery.net.

Loans 246

Loans 246

Enterprise Recovery

JUNE 14, 2021

Here's how the job market is affecting client invoice payments. According to a recent report , 42% of small business owners were unable to fill job openings and 91% were unable to find qualified applicants. These challenges are also affecting the work that's getting done within businesses too.

Collection Agencies 130

Collection Agencies Collections Agency Collections 130

Account Recovery

AUGUST 20, 2021

Arizona Group Pushing for Medical Debt Collection Law; Fewer Consumers Missing Debt Payments appeared first on AccountsRecovery.net.

Accounts Receivables Management 246

Accounts Receivables Management Collections 246

Credit Corp

MARCH 9, 2021

When you’ve missed a mortgage payment your mind may immediately spiral to foreclosure. But, it should bring you some peace of mind to know that foreclosure is not the immediate consequence for missing a loan payment. Foreclosure doesn’t really come up until you’ve missed two or three payments. Foreclosure.

Foreclosure 112

Foreclosure Lender Loans 112

UK debt collections

JANUARY 28, 2021

The coronavirus pandemic has exacerbated Business late payments for UK businesses, new figures from the Institute of Directors reveal. They said they had faced an increase in late payments during the pandemic. A Professional Business Debt Recovery service is also a reliable accelerator for non payments of business debts.

Debt Recovery 111

Debt Recovery 111

Account Recovery

DECEMBER 7, 2021

In Conversation: Jack Gordon; Judge Grants MTD in FDCPA Case Over Alleged Refusal to Honor Payment Plan appeared first on AccountsRecovery.net. Jack is mostly known for running WebRecon, a litigious debtor scrub that has become an important risk management product for companies in the accounts receivable and contact center industries.

Debtor 245

Debtor 245

PDC Flow

AUGUST 24, 2021

That’s why managers and business owners are turning to payment management software to help keep things organized. PDCflow’s organizational hierarchy keeps consumer payment details in order and allows company administration to control staff access to sensitive information. Organizational Hierarchy and Payment Management.

Healthcare 91

Healthcare Collection Agencies Collections Agency Collections 91

Nerd Wallet

SEPTEMBER 3, 2021

A payment processor is a vendor used by businesses to manage the backend logistics of accepting card payments. It shuttles card data from wherever customers tap, swipe or enter their card details to the payment networks — such as Visa, Mastercard, American Express and Discover — and banks involved in the transaction.

Banks 96

Banks 96

UK debt collections

APRIL 29, 2021

Small Business late payment is severely hampering recovery from the pandemic according to new data. Delayed payment of invoices owed to SME’s over the past 12 months totals a shocking average of £130,445.05. Whilst late payment continues, this will only serve to hinder Small Business recovery in the second half of this year.

Debt Recovery 83

Debt Recovery Government Trade 83

PDC Flow

MAY 25, 2021

Security is an essential part of taking payments. If your payment communication software doesn’t take precautions with the sensitive data they help you manage, they aren’t looking out for you or your consumers. Doing so reduces your company’s risk and creates a safer environment for your customers to make payments. Encryption.

Banks 95

Banks Collections 95

Credit Corp

JUNE 16, 2021

It first launched in 1998 as Confinity and allowed people to send payments via email as early as 1999. By 2000, PayPal allowed people to make payments to eBay sellers and had around a million users. PayPal offers a lot of features, including invoicing, lines of credit and loans, and automatic payments. How Does PayPal Work?

Banks 97

Banks Loans 97

Nerd Wallet

FEBRUARY 4, 2021

Interest and payments have been paused on federal student loans. The article How to Prioritize Debt Payments in the Pandemic originally appeared on NerdWallet. A singular crisis has led to extraordinary relief options for borrowers. Homeowners can request nearly a year of mortgage forbearance. Email: lweston@nerdwallet.com.

Student loans 118

Student loans Student Loans Lender Loans 118

PDC Flow

JULY 22, 2021

Ogden, Utah – PDCflow announces an even more complete, streamlined payment process with the release of cash tracking within the Flow User Interface (UI). Now, businesses can keep track of all payment transactions in a single place and better serve consumers – no matter what payment channel they prefer to use. About PDCflow.

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Nerd Wallet

JANUARY 21, 2021

The Biden administration has a plan for that: giving first-timers up to $15,000 to apply toward a down payment. The proposed First Down Payment Tax Credit. The article The Property Line: Biden Housing Plans Include Down Payment Help originally appeared on NerdWallet. But it almost surely would drive house prices even higher.

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Collect More

JULY 27, 2021

Almost nobody thinks about that enormous middle section- part payments. Here are the 5 reasons why you have to ask for a part payment: 1. Any payment, of any amount, within this 6 year period extends it for another 6 years. They’ve made a part payment meaning they are now invested in repaying the debt. Not bad huh?

Collections 100

Collections 100

UK debt collections

NOVEMBER 23, 2021

New research has revealed late payments are continuing to have a significant impact on UK small businesses – with the smallest businesses being some of the worst hit. Micro-businesses hit hardest by late payments. As a result, the smallest businesses are looking to speed up payments by tightening their payment deadline terms.

Debt Recovery 96

Debt Recovery Collections Collection Agencies Collections Agency 96

Nerd Wallet

JULY 7, 2021

The merchant services industry is riddled with hidden fees and predatory contracts, but Payment Depot says they’re something of an exception. On their website, Payment Depot proclaims that merchants deserve better than payment processors that overcharge by using “confusing terms, high markups, and unnecessary fees.”

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