2018

Time Out: Gaining Time by the Minute

NCBA Law Practice Management Blog

There’s nothing like daylight savings time to get you to observe how dramatic a small shift in time becomes.? Push back one hour, and all of a sudden it’s instant winter.? People are like, ‘Wow, when did it get so dark out?’? And, hot chocolate sales start to rise. Saving time as a business owner can have a similar effect on you.? But, instead of greeting the coming of winter, you’ll be saying things like, ‘Wow, I just got home, and it’s not even dark yet!’

Amendments To The Federal Rules Of Bankruptcy Procedure Take Effect December 1, 2018

In the Red

Almost every 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. Key Rule Amendments Have A Certain Appeal.

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Sep 6, Debt collectors calling me for girlfriend's ex

Debt Collection Answers

My phone is in my name. I live with my girlfriend for two years, a bill collector called today looking for her ex. How sis they know to call my number? Supposedly she hasn't talked to ex so he shouldn't have my number. Please help

House Committee Okays Bill to Amend FDCPA to Exclude Law Firms from Definition of “Debt Collector”

Consumer Financial Services Law

By: Zachary K. Dunn The House Financial Services Committee voted 35-25 on March 21, 2018 to advance H.R. 5082, officially known as the “Practice of Law Technical Clarification Act of 2018,” to the full House of Representatives.

Why Hire A Collections Agency?

Turbo Recovery

When you find yourself with symptoms of an illness—sweating, shivering, pain, sapped of energy, an inability to keep down food, etc.—you you wouldn’t try to solve the problem by simply taking a pain reliever and eating some chicken noodle soup, would you? Of course not. Whether it’s a medical or a financial problem that has you outside your scope of knowledge, there’s no excuse for trying to be your own doctor.

[Factsheet] Third progress report on the reduction of non-performing loans (NPLs) and further risk reduction in the Banking Union

Qualco

This European Commission’s third progress report on the reduction of non-performing loans (NPLs) shows that NPLs in the European banking sector have declined further as a result of continuing economic growth and pro-active measures such as sales of NPL portfolios. NPL Banks European

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The Economic Impacts of the Debt Collection Industry

Credit Management Company

The common perception of the debt collection industry in modern times is almost overwhelmingly negative. Collectors in pop culture are often represented as callous, predatory characters who harass poor families and individuals when they're most vulnerable. While a very slim number of collectors may act in this manner, this portrayal is almost entirely false.

Sell More to Offset Bad Debt?

Receivables Control

How many more sales must you generate to offset bad debt? With the recent pullback in the stock market, it reminds us that the economic winds are ever-changing. You may think twice about your credit policy if your sales team is chasing poor credit risks in a volatile economic environment. We wanted to provide you information and a helpful tool to quantify the impact of bad debt and the sales volume necessary to offset it. The Real Cost of Bad Debt.

Debt Recovery – Utilizing Debtor Exams to Collect on a Judgment

Stevens Lloyd

You have initiated a lawsuit and won a Default Judgment against the debtor. Judgments are worthless unless you can locate and garnish the debtor’s assets, however. So now what ? When a creditor obtains a judgment against an individual or company, one of the most effective techniques (providing they don’t know what assets the debtor has) is to utilize a Debtor Exam to recover monies which were awarded on the ruling document.

How To Get Paid On Time And Ensure That Good Paying Customers Stay That Way

AGA

As a 3 rd party collection agency, we have heard it all when it comes to why once good paying customers that were easy to work with are now past due, no longer ordering and unresponsive to your attempts to contact them. What went wrong? Why did a customer with whom you have been doing business with for quite some time and thought you had a good relationship with start slow paying and now is not paying at all? Is there anything you can you do to reduce the likelihood of this happening?

Timing Is Everything: Response Time is Essential for Converting Law Firm Leads

NCBA Law Practice Management Blog

Nobody has ever liked waiting. But, there has never been a point in recorded history where people have liked waiting less. Cave people, I suppose, never had the benefit of the internet and smartphones. But, I’m not even talking about the Neanderthals; heck, people are far less patient than they were even ten years ago, since things like Netflix have pumped urgency addition up on steroids. No one wants to wait for anything anymore, because no one has to wait for anything anymore.

Trademark Licensees Take Note: The Supreme Court Might Review The Tempnology Decision — And Whether A Licensee Can Keep Trademark Rights After Rejection

In the Red

The twists and turns of the In re Tempnology LLC bankruptcy case have been a frequent subject on this blog for good reason. The case addresses whether a trademark licensee, whose licensor files bankruptcy and rejects the license agreement, retains any rights to use the trademark — or instead is out of luck. A Wild Ride.

Chapter 7 Debtors Permitted to Amend Schedules to Claim Homestead Exemption after Successful Avoidance Action by Trustee

Foster Swift

The purpose of bankruptcy is to provide for an orderly process by which a debtor’s assets can be fairly divided and distributed among creditors. Read More › Tags: Chapter 7 , Financing , Personal Property Tax , Property Tax , Western District of Michigan

Sep 18, I loaned a friend $7000

Debt Collection Answers

I have some property of my friend's here at my home. Now I don't want to give it back because I loaned him $7000 in cash one year ago. Can I keep his property until he pays me back

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To Place or Not to Place? How to Know When to Place a Claim for Collection

Turbo Recovery

Knowing what to place and what not to place can be tricky, especially for nervous business-owners looking to get their money back. It is typical in the collections industry for existing, potential, and even new clients to call in around the months of April and May with lists of bad debt and other write-offs made in the past couple months. Unfortunately, some claims placed within collection agencies are nearly impossible to liquidate.

SSM Supervisory priorities 2019

Qualco

ECB Banking Supervision: SSM priorities 2019

Banks 40

District Court Holds Revocation of Consent Ineffective in the Face of Contractual Consent

Consumer Financial Services Law

Relying upon basic principles of contract law, an Alabama district court has held that there are limitations to revocation of prior express consent. In Few v. Receivables Performance Management, 2018 U.S. LEXIS 134324 (N.D. 9, 2018), the consumer sought damages for alleged violations of the Telephone Consumer Protection Act (the “TCPA”).

Price Transparency and What it Means for Your Organization

Credit Management Company

Price transparency consistently ranks as one of the top factors for consumers satisfaction, yet the healthcare industry continues to have some of the most obscure pricing structures in the American economy. According to research by InstaMed, 91% of patients are demanding greater transparency. Because of this phenomenon, CMS and other payers are demanding that providers give their patients more accurate information about costs.

Guidance on Major Weather Events & COVID-19

Receivables Control

Guidance on Major Weather Events and COVID-19. In the past few years we have seen regions disrupted by hurricanes, floods, and blizzards. This article highlights our policy regarding collecting from customers who are impacted by major storms and our efforts during the COVID-19 pandemic. . The COVID-19 crisis requires the same methodical approach to communication as do major weather events. We see that throughout the country, businesses are impacted differently.

The Psychology of Commercial Debt Recovery – Part One

Stevens Lloyd

Millions of businesses, especially small to mid-sized firms, want to grow and prosper by serving their customers well—but they also expect to be paid promptly for their product or services. In our twenty plus years in the commercial debt recovery business, we’ve observed a universal fear among people in business: They want the money they’ve earned but they’re deeply afraid to press too hard lest they upset customers who not only might not pay but could also take their business elsewhere.

Federation of Credit and Financial Professionals to host AGA’s SVP Webinar on How to Get Paid on Time and Ensuring Good Customers Stay That way

AGA

The Federation of Credit & Financial Professional will be hosting a Webinar on November 20 th given by our SVP of Business Development Sam Fensterstock titled “How to get paid on time and Ensuring good paying customers stay that way” As a 3 rd party collection agency when it comes to collecting seriously delinquent receivables we have heard it all when it comes to why customers that were once good paying and easy to work are now are past due, no longer ordering and unresponsive.

Oh, the Horror! Don’t Be Left without a Data Backup System

NCBA Law Practice Management Blog

You know what’s really scary? Losing your law firm data. Even so, many law firms don’t utilize effective data backups. Every business needs to backup its electronic data; but, the imperative is even more important for law firms, which have ethical and fiduciary duties tied to their client relationships. And, although it’s now 2018, many law firms subsist on remarkably thin data backup systems. This is true even though law firm data loss is not an extremely rare or impossible occurrence.

Throwing Shade At Sunbeam: Following Lubrizol And Not The Seventh Circuit, The First Circuit Leaves Another Trademark Licensee Rejected And Out Of Luck

In the Red

The Tempnology Trademark Saga. When it comes to decisions on bankruptcy and trademark licenses, the In re Tempnology LLC bankruptcy case is the gift that keeps on giving. The Original. It all started in November 2015. Following Tempnology’s rejection of an agreement containing a trademark licensee, the New Hampshire Bankruptcy Court ruled that the licensee could no longer use the licensed trademarks.

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Snow & Sauerteig Debt Collection Lawsuit

Indiana Consumer Law Group

Have you been sued by Snow & Sauerteig LLP over a debt you allegedly owe? We may be able to help you. We defend consumers sued in Indiana state courts and alleged to owe a debt. We will review your case at no cost to you for potential violations of the Fair Debt Collections Practices Act (“FDCPA”). If we find a violation, we may be able to help you without charging you attorney fees.

White Mountain Capital LLC

Recoverity

We are a very small agency that is looking to expand, we have the capability to grow to 28 seats in our current location. Because we are currently so small we are looking to a client that could use undivided attention that we can devote almost every day we are open to. We are looking for someone to grow with. The post White Mountain Capital LLC appeared first on Recoverity. 486 487 Alabama

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Three Reasons Why You Should Choose Turbo Debt Recovery

Turbo Recovery

When businesses have outstanding receivables, they often turn to attorneys to sue the debtor, but Turbo Debt Recovery offers a few services that should take place prior to filing suit. With full-service, from start to finish and a sensitive approach, it’s clear why Turbo is the better fit. We Provide Full-Service Collections. We are a full-service operation, meaning we work and oversee the accounts from soup to nuts.

U.S. Supreme Court Holds that Debtor’s False Oral Statement Concerning Single Asset Does not Provide Basis for Non-dischargeability Action

Foster Swift

On June 4, 2018, the U.S. Supreme Court decided the case of Lamar, Archer & Cofrin, LLP v. Appling , No. 16-1215, which dealt with the dischargeability of debt in bankruptcy proceedings. The Court held that a statement about a single asset can be a “statement respecting the debtor’s financial condition” under section 523(a)(2) of the Bankruptcy Code. Read More › Tags: Chapter 7 , U.S. Supreme Court

Statement that Debt Collector Would Call Overshadows 1692g Notice

Consumer Financial Services Law

A recent case from a Wisconsin district court serves as a reminder that the best approach to a 1692g notice is that it stands alone. In Maniaci v. The Receivable Management Services Corp., 2018 U.S. LEXIS 109087 (E.D. June 29, 2018), the agency’s 1692g notice included a statement that If you have not yet been contacted by an RMS representative, you will be receiving a call to bring this matter to a resolution.

Collections at Christmas Time - Tips for Collecting During this Notoriously Difficult Season

Credit Management Company

Patient collections can be a challenge any time of the year, but are particularly stressful during the Holiday season. Some collection agencies make the mistake of pausing collection efforts during this time of the year to avoid increasing tension between the healthcare provider and the patient. However, this approach can be extremely counter intuitive - outstanding receivables affect the bottom lines of both the healthcare providers and the agency.

Customer Service Improves Collections

Receivables Control

What’s that? Great customer service improves collection results? Before getting to the nuts and bolts of improving collections through customer service, step back a moment in time to the previous century, when people still talked to each other and before technology eroded personal, human interactions. Remember when we talked to each other? . Do you remember going to the bank when there was a knowledgeable person to help you? They were customer service experts!

Debt Collection Tactics Used by Professional Debt Collectors

Stevens Lloyd

If you currently have a debtor that is making excuses for non-payment or outright refusing to pay, then you might want to consider soliciting the services of a professional debt collection agency. In the past few years, there has been a rise in the number of debtors who refusing to pay monies owed. Due to this, debt collection agencies are quickly evolving. Such agencies are serving a major role in collecting debt from the defaulters.