Account Recovery
JULY 23, 2024
The accounts receivable management industry lost a friend and a brother last week with the passing of Eric Foulk. Foulk, who most recently worked at TransUnion, had spent most of his career in the ARM industry, after he left the military. More details about Eric’s passing are available here. AccountsRecovery.
American Profit Recovery
JULY 17, 2024
By Matt: American Profit Recovery’s Annual Employee Week was awesome this year. We shared good food, played many in-office games, and had some great times at after-work events, including a picnic. We also received some of the coolest prizes. I wanted to share three things that I absolutely love about employee week. To start, I had a great time playing the team challenges, and it was so much fun watching everyone compete for team prizes.
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Enterprise Recovery
JULY 15, 2024
Retention marketing is the practice of implementing strategies and techniques to keep existing clients engaged and loyal to your business. While acquiring new customers is important, retaining existing ones is more valuable for the long-term success of your business. By focusing on client retention, you can build strong relationships, increase customer satisfaction, and ultimately drive revenue growth.
Consumer Finance
JULY 8, 2024
The CFPB took action against repeat offender Fifth Third Bank for a range of illegal activities that would result in the bank paying millions in penalties as well as paying redress to harmed consumers.
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.
Credit Corp
JULY 9, 2024
A bankruptcy can remain on your credit report for up to ten years from the filing date of Chapter 7 bankruptcy or up to seven years from the filing date of Chapter 13 bankruptcy. However, its impact on your credit score lessens over time as you rebuild your credit with responsible financial behavior. While bankruptcy may be a last resort, there are times where filing bankruptcy might make sense.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
JULY 16, 2024
More than 1 in 3 American workers are living paycheck to paycheck, with little-to-no money left for savings after covering monthly expenses, according to a new survey from Bankrate.
UK debt collections
JULY 18, 2024
Steps have been taken to claw back millions of pounds owed to Swansea Council after auditors warned that action was needed. At the end of January this year debtors owed the council £12.4 million, a council report said. This was money owed for upwards of one month, in some instances for more than a year, and in a small number of cases more than seven years – at which point the debt is written off.
Taurus Collect
JULY 11, 2024
Creating a transformative end-to-end collections strategy is crucial for businesses. It involves carefully managing and recovering debts while maintaining positive customer relationships. One important aspect of this strategy is no fee debt collection. This means businesses can recover their debts without extra costs. It’s about finding the balance between effective debt recovery and customer care.
Consumer Finance
JULY 24, 2024
The CFPB released a report on payment processing companies that help school districts process children’s school lunch payments.
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Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.
Debt RR
JULY 2, 2024
In the dynamic world of business, managing cash flow is crucial. One of the most significant aspects of maintaining a healthy cash flow is effective accounts receivables (AR) management. Yet, many businesses struggle with overdue invoices and delinquent accounts, which can strain resources and hinder growth. Enter commercial collection agencies—specialized firms that can play a pivotal role in optimizing your AR functions.
On Guard
JULY 25, 2024
Earlier in 2024, we surveyed 300+ CFOs and financial professionals in the Netherlands to study how they view current technology trends and their impact on the finance sector. The research findings were shared in four different whitepapers, entitled the FinTech Baropapers. Let’s sneak a peek at the key takeaways: #1 AI the leader in technology trends Although finance professionals see a major influence of big data (36%) and IoT (23%) on the financial process, they find AI (45%) the technology wit
Account Recovery
JULY 26, 2024
Collector Sued for Refusing to Accept Dispute Judge Grants MSJ for Defendant in FDCPA Case over Duplicate Cease Requests BK Filings Jump 16% for 12-Month Period Ending June 30 Consumers Very Worried About Economy WORTH NOTING: OpenAI, the company behind ChatGPT, is releasing its first search engine … Boneless chicken wings can have bones, a […]
UK debt collections
JULY 4, 2024
Cazoo Group Ltd has announced that the company is officially winding up, following the company’s extraordinary general meeting yesterday (July 2). Shareholders approved resolutions for the company to be placed in voluntary winding up, the appointment of voluntary liquidators and their renumeration at the EGM. The Securities and Exchange Commission notice from Cazoo says that it will be placed in voluntary liquidation based on the fact ‘it is unable to pay its debts’.
Speaker: Erika R. Bales, Esq.
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
Collections Law
JULY 25, 2024
At Law Offices of Alan M. Cohen & Associates LLC, our ethical commercial collections attorneys are well-known for their aggressive, relentless and innovative debt collection tactics. With more than 50 years of combined experience in commercial debt collection, they utilize debt collection strategies allowed under state and federal laws to help Massachusetts businesses get paid.
Consumer Finance
JULY 23, 2024
The CFPB issued a circular explaining how companies may break the law by requiring employees sign broad nondisclosure or confidentiality agreements that deter whistleblowing.
NCBA Law Practice Management Blog
JULY 7, 2024
I talk to lawyers a lot about generating in-house content, that features them, and that is authentic to their personalities. Of course, I’m pushy: So, sometimes , attorneys get frustrated with me , and say : ‘Hey, I’ve got a lot going on!’ I get it. It’s tough to find the time – which is why it makes sense to specialize. Individual lawyers, then, should have ‘anchor’ content = the primary content you produce, that you can leverage in a number of different ways , and repurpose.
FFGN COLLECT NY
JULY 21, 2024
As a service provider, you likely know all too well that sometimes the insurance company pays the client directly. But what happens if your customer keeps the insurance payment? If you’re looking to get paid, you should know the law governing New York debt collection that applies when the customer fails to turn over the insurance monies. This law applies whether you are providing restoration, medical, or other services.
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Are you finding some snags in your collections process? With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.
Account Recovery
JULY 26, 2024
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. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more?
UK debt collections
JULY 4, 2024
Well established Gareth Hoskins Architects has announced a shock decision to cease their UK operations as a result of unpaid architect fees. In a statement, the practice cited an ‘outstanding six-figure debt’ for precipitating the decision amidst a difficult trading environment contributing to multiple project delays. In a trading update, the practice wrote: “Hoskins Architects Group Limited is sorry to announce that the directors of its UK trading subsidiary Gareth Hoskins Arc
On Guard
JULY 18, 2024
It’s the year 2019 and Denise is saying farewell to her colleagues at Onguard. Her six-month internship, full of learning and fun moments, has come to an end, and she is ready for her new adventure: a student exchange programme abroad. “If you wish to come back, we’ll be waiting,” one of her closest colleagues told her. And guess what! She has been with Onguard for 6 years, she started as an intern to climb to an Event Manager, and she effectively shares her energy between two roles in the compa
Consumer Finance
JULY 1, 2024
The CFPB published an edition of Supervisory Highlights sharing findings from examinations of auto and student loan servicers, debt collectors, medical payment products, and deposit and prepaid accounts.
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For finance teams using Salesforce’s powerful CRM technology, automation can transform accounts receivable processes, driving efficiency and delivering measurable results like cost savings, reduced customer churn, and lower DSO.
NCBA Law Practice Management Blog
JULY 20, 2024
Pre-pandemic, attorneys in a not insignificant number of states were disallowed from using ‘trade’ or ‘brand’ names for their law firms. You know, like ‘Taco Bell’ – though, you probably wouldn’t actually name your law firm Taco Bell. That meant that lawyers were basically left with naming their businesses after themselves – usually some combination of hard-to-pronounce last names.
Payment Savvy
JULY 12, 2024
In the evolving world of small businesses, efficient payment processing is crucial. Online payments’ convenience and speed can boost customer satisfaction and streamline operations. However, the fees associated with payment processing can be a burden. Accepting online payments without incurring fees may sound appealing, but it’s not feasible.
Account Recovery
JULY 26, 2024
If an attorney representing an individual types up a letter on behalf of the individual that disputes a debt and ceases communication with the collector, but the letter is signed by the individual and contained the individual’s return address and did not indicate that the individual was otherwise being represented by an attorney, is that […]
UK debt collections
JULY 1, 2024
An Insolvency practitioner for an accountancy firm has warned of a growing trend of ‘fresh air invoicing’ Stephen Grant of Azets, an accountancy and advisory firm with offices in Poole and Blandford, announced rising instances of financially strained firms issuing invoices unrelated to any trading transaction. The practice – coined ‘fresh air invoicing’ – deceives finance companies into advancing 70 per cent to 90 per cent of the falsely claimed invoice’
Speaker: Lynnette Khalfani-Cox, The Money Coach®
Niche markets represent a huge opportunity for the financial services industry in America. From college students and women to communities of color and low-to-moderate-income households, niche populations have specialized financial needs – but they often underutilize many valuable financial products and services. How can you better connect with these consumers?
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