January, 2023

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Judge Dismisses FCRA, FDCPA Case Over ‘Laundry List’ of Violations

Account Recovery

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Why are we one of the best places to work in the collection industry?

American Profit

It’s no surprise to the team here but we have once again earned the distinction of being one of the best places to work in collections. Since 2008, we have continued to earn this recognition through an effort spearheaded by Best Companies Group.

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How can Collection Agencies Maintain a Good Reputation?

Nexa Collect

Business and medical professionals seeking to hire a collection agency always wonder if the agency they hire is ethical or if it may damage their reputation. Here are some valuable tips on how collection agencies can maintain a good reputation online and offline.

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Business CCJ’s double whilst firms in significant distress soars

UK debt collections

Business CCJ’s have doubled in the last quarter says the latest Red Flag Report from Begbies Traynor. Latest data has laid bare the struggles facing UK business during the current economic crisis. 610,405 business rated as being in “significant” financial distress in Q4 2022.

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Connect, Care, Convert: Secrets to Establishing Trust with Niche Markets and Turning Them Into Clients

Speaker: Lynnette Khalfani-Cox, The Money Coach®

Lynnette Khalfani-Cox, The Money Coach, is here to give you insights into the consumer mindset along with proven strategies for nurturing trust and client-building in underserved markets.

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Can an Insurance Broker Be Liable if a Loss Is Not Covered by Insurance?

Jimerson Firm

What happens when, due to a negligent error by the insurance broker, a business suffers property damage that is either not covered, or not fully covered, by what the insured thought was an insurance policy they purchased through the broker to cover the risk?

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Healthcare Billing Statements Source of Frustration for Consumers: Survey

Account Recovery

Fewer than one-third of individuals feel extremely confident that they would be able to identify an error on a medical bill, and half of those individuals who participated in a survey have had bills with incorrect charges of at least $200, according to the results of a recently released survey.

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Keeping the lines of communication as open as possible

American Profit

By Brian L. The saying goes, “actions speak louder than words” when it comes to showing who you are or what you are capable of accomplishing. In the debt collection industry, words are what speak louder than actions. Your choice of words will determine what actions follow.

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Debt Recovery During an Economic Recession

Nexa Collect

Fed Chairman Jerome Powell is increasing the interest rates, which has triggered an economic slowdown. People have been losing jobs, the housing market has already slowed down, and we read news about job losses almost daily. Most economists believe that a recession is inevitable.

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CFPB Proposes Rule to Rein in Excessive Credit Card Late Fees

Consumer Finance

Today, the Consumer Financial Protection Bureau (CFPB) proposed a rule to curb excessive credit card late fees that cost American families about $12 billion each year.

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Successful Change Management with Enterprise Risk Management

Speaker: William Hord, Vice President of ERM Services

Join us as we discuss the various tangents of data and the change management process that will help you make better risk-based business decisions to save time and money for your organization.

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6 Risky Clients that May Not Pay On Time

Enterprise Recovery

As a business that works with other businesses, the expectation is that they'll pay for the goods and services you're providing. Unfortunately, delinquency and debt in business relationships is a very real, all-to-common problem.

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February Mortgage Rates on the Downslope by End of Month

Nerd Wallet

Holden Lewis writes for NerdWallet. Email: hlewis@nerdwallet.com. Twitter: @HoldenL. The article February Mortgage Rates on the Downslope by End of Month originally appeared on NerdWallet. Mortgages

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Complaint Accuses Collector of Attempting to Collect on Settled Debt

Account Recovery

EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit.

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4 proven ways to make debt collections easier for your business

American Profit

Just about every business we encounter wants to make the process of getting paid on time much easier. Getting late-paying customers to the table and small business debt collections can become an area where many organizations just do not have the available resources.

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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.

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Government is Making Debt Recovery a lot Harder

Nexa Collect

The US government has thrown a slew of laws on collection agencies, making bad-debt recovery harder and costlier. Lower recoveries mean, low recoveries and extensive loss for businesses and doctors.

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CFPB and New York Attorney General Sue Credit Acceptance for Hiding Auto Loan Costs, Setting Borrowers Up to Fail

Consumer Finance

Today, the Consumer Financial Protection Bureau (CFPB) and the New York State Office of the Attorney General sued a predatory auto lender, Credit Acceptance Corporation, for misrepresenting the cost of credit and tricking its customers into high-cost loans on used cars.

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Why Happy B2B Clients Save Money

Enterprise Recovery

Does it actually cost more to attract new clients than keep current ones? That can only be decided when you consider the cost of your time and the value of your clients. Nevertheless, happy clients are usually your most loyal clients, and they'll likely recommend your goods and services to others.

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3 Steps to Consolidating Credit Card Debt in the New Year

Nerd Wallet

Jackie Veling writes for NerdWallet. Email: jveling@nerdwallet.com. The article 3 Steps to Consolidating Credit Card Debt in the New Year originally appeared on NerdWallet. Loans Personal Loans

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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.

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Compliance Digest – January 23

Account Recovery

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics.

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Digital Operations Impact on Debt Collection, from Team Structure to ROI

PDC Flow

Justin Franklin, Vice President of Global Strategy and Execution at Cedar Financial recently sat down for an interview with PDCflow’s Dawn Updike. They discussed how digital operations impact team structures and revenue, measuring ROI and more.

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Why NOT use the Email-Warmup Service

Nexa Collect

If you are looking for ways to send bulk marketing emails to potential customers who have not given explicit consent to receive communications from you, you will likely come across the latest trend – email warmup service. What is an Email Warmup Service?

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CFPB Issues Guidance to Root Out Tactics Which Charge People Fees for Subscriptions They Don’t Want

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) issued a new circular affirming that companies offering “negative option” subscription services must comply with federal consumer financial protection law.

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Losing Accountants? Here's How to Help Your Accounting Team

Enterprise Recovery

The Wall Street Journal is reporting that the number of accountants and university students that are studying accounting is falling. The long hours, especially during tax season, are turning off young recruits.

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Supreme Court’s Student Loan Decision Will Impact Black Women Most

Nerd Wallet

Cecilia Clark writes for NerdWallet. Email: cclark@nerdwallet.com. The article Supreme Court’s Student Loan Decision Will Impact Black Women Most originally appeared on NerdWallet. Loans Student Loans

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Proposed Law Would Limit Collections in Florida if Incurred as a Result of Certain Crimes

Account Recovery

The changing of the calendar from December to January signifies more than just the start of a new year. In many states, it signifies the start of a new legislative session.

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Business Team Structure for Digital Billing and Payments

PDC Flow

New software opens the door to easier workflow processes and simpler daily tasks. This can impact team structures and job titles or even create new responsibilities – like making sure tools are working right and providing a good return on investment.

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Bankruptcy Court Issues Ruling on Ownership of Celsius Account Assets

PBWT

The concept of “property of the estate” is important in bankruptcy because it determines what property can be used or distributed for the benefit of the debtor’s creditors.

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Get the basics of subchapter 5 bankruptcy

Albuquerque Law

Opening your small business was the fulfillment of a dream. However, the last few years have not been easy for small businesses in New Mexico and across the country. For many, business fell low and debt piled high.