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Building Successful Collections Teams: Strategies for Recruitment and Growth

Qualco

Debtors who are serious about protecting their real estate assets or a small business need to feel they are dealing with a real person , capable of displaying empathy while offering options based on professional expertise. Gaining trust is also a key factor in reaching such an agreement. Encourage the sharing of experience among team members.

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Debt Collection: Have We Learned the Lessons of the Last Crises?

Fico Collections

Most consumers are likely to suffer some level of financial distress for the foreseeable future. Consumers hit exclusively by an economic downturn typically: Have very high financial morality – they are rarely repeat visitors to collections. Are reluctant to compromise on their financial plans. FICO Admin. by Bruce Curry.

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For Attorneys Representing Community Associations: A Primer On FDCPA Class Actions And How To Avoid Them

FDCPA Defense

Attorneys who collect for national banks, debt buyers or other financial institutions have been regular targets in FDCPA class actions. Accufix Research Institute, Inc., Attorneys who engage in collection work for community associations, however, have managed to remain off of the FDCPA class action radar. 3d 935, 947 (9th Cir.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. You may access this interactive tool at [link]. These borrowers will receive 100% loan discharges, resulting in approximately $55.6

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

Speaking at the Consensus 2023 conference, Senator Lummis stated that the next installment of her bill — the Responsible Financial Innovation Act — will be presented to the Senate within eight weeks. On April 28, Venmo announced that users of the mobile payment service will offer expanded cryptocurrency-related capabilities.