Sat.May 27, 2023 - Fri.Jun 02, 2023

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Debt Ceiling Bill Includes Provision for End of Student Loan Payment Moratorium

Account Recovery

Putting perhaps the final nail in the moratorium on student loan payments is a clause in the deal worked out between President Joe Biden and House Speaker Kevin McCarthy to suspend the debt ceiling that ends the pause within 60 days after June 30 once the bill is signed into law.

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CFPB’s Section 1071 Final Rule (Part 3): Potential Problem Areas

Troutman Sanders

Please join Troutman Pepper Partner Chris Willis and his colleagues Mark Furletti, Joe Reilly, and Christine Emello for the last installment of a special three-part series about the Consumer Financial Protection Bureau’s (CFPB) new small business lending data collection and reporting final rule — the Section 1071 rule. Part 3 focuses on specific areas, including highlighting those we worry will be especially troublesome for small business lenders.

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Managing Debts in Different Industries

JMA

Managing debts is a critical aspect of running a business, and understanding industry-specific challenges is key to successful debt collection and recovery. To make this easier, we have put together some information about the unique obstacles faced in various industries and provide practical solutions to manage debts effectively. Debt Management Challenges by Industry Debt management.

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Collecting on an outstanding judgment means following the money

Collections Law

You went to the trouble of getting a judgment against your delinquent debtor and now what? They still won’t pay. It’s enough to make you grind your teeth in frustration. Luckily, Massachusetts law offers a way to follow the money after a judgment goes unpaid. It’s called “Rule 69 discovery.” Rule 69 of the Massachusetts Rules of Civil Procedure gives creditors the power to enter into a discovery process after the judgment has been entered.

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You Put in a Full Work Week. Shouldn’t Your Collections Software Do the Same?

Discover a modern, cloud-based collection system that never takes a rest day. MeridianLink® Collect is an intuitive platform with advanced customization options developed to simplify the collections process. Here are four ways MeridianLink Collect can support your team: Omnichannel communications Compliance rules & checklists Workflows & queues One interface with supporting integrations And that’s just the start.

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Daily Digest – May 30. Suit Accuses Collector of Failing to Honor Agreement; Judge Grants MSJ For Defense Over Disputed Debt

Account Recovery

More Trending

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How to Set Realistic Debt Recovery Goals and Track Progress

JMA

Setting realistic debt recovery goals is crucial for businesses aiming to improve their financial health. In this article, we will walk you through the process of establishing achievable goals and tracking your progress. If you need assistance with debt recovery for your business in Australia, JMA Credit Control is here to support you every step. Read more » The post How to Set Realistic Debt Recovery Goals and Track Progress appeared first on JMA Credit Control.

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Washington Federal Court Rejects Hunstein; Holds Article III Standing Exists in FDCPA Letter-Vendor Claim

Collection Industry News

Nearly two years after the Supreme Court’s 2021 decision in Transunion v. Ramirez , courts and litigants continue to grapple with standing issues in Fair Debt Collection Practices Act (FDCPA) cases brought by plaintiffs alleging intangible harms to reputation and privacy interests. Prominent among these post-Ramirez FDCPA cases was Hunstein v.

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Lawsuit Accuses Collector of Failing to Honor Agreement Because Payment was Two Days Late

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. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more?

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Member Spotlight: Why Earn Your CBA?

NACM

​NACM's Professional Certification Program gives credit professionals the tools they need to excel in their careers. Not only can credit professionals earn a designation, but those who go above and beyond are recognized for their dedication."Deciding to earn my CBA was a great step in learning more about the credit world and brought more depth to m.

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ERM Program Fundamentals for Success in the Banking Industry

Speaker: William Hord, Senior VP of Risk & Professional Services

Enterprise Risk Management (ERM) is critical for industry growth in today’s fast-paced and ever-changing risk landscape. When building your ERM program foundation, you need to answer questions like: Do we have robust board and management support? Do we understand and articulate our bank’s risk appetite and how that impacts our business units? How are we measuring and rating our risk impact, likelihood, and controls to mitigate our risk?

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Texas Enacts Medical Billing Transparency Law

Account Recovery

The governor of Texas has signed a bill into law that will require hospitals and health care facilities send patients a written, understandable itemized invoice prior to placing the account with a debt collector. The law is scheduled to go into effect on September 1.

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Compliance Digest – May 30

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. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.

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Judge Finds Plaintiff has Standing, but Still Grants MSJ for Defendant in FDCPA Case Over Disputed Debt

Account Recovery

Is this yet another sign that the attack on standing has reached its tipping point?

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What to do with your credit card debt now that the Fed raised rates again

Collection Industry News

Banking has been top of mind for many people in the wake of some surprise bank failures and moves by US regulators to boost confidence in the financial system. Each time the Fed raises the rate, the lending rates that banks charge their customers tend to follow. That means consumer debt — especially variable-rate credit card debt — will get more expensive.

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10 Ways to Improve Payment Collections with Salesforce

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.