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An Illinois state Appeals Court has sided with the consumer in a collection lawsuit, ruling that the consumer should not be required to initiate arbitration by filing the proper paperwork and paying the initiation fees if he wants to arbitrate the collection lawsuit filed against him. The background: The case began when the defendant allegedly defaulted on a credit card debt that was purchased by the plaintiff.
In todays digital communication landscape, businessesespecially those that use digital outreach to engage delinquent consumers to collect debtsare facing increasing pressure to ensure they respect consumers opting out of communications from a particular channel. While the word “STOP” has been a widely recognized method for consumers to unsubscribe from text messages, the reality is that consumers may express their desire to opt out in various ways.
We’ve seen this ruling in other jurisdictions, so it’s not necessarily a surprise, but I don’t think we’ve seen a ruling on this type of case in North Carolina yet. A District Court judge there has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act lawsuit on the grounds that the plaintiff lacked standing because he had the claim assigned to him by the individual who actually owed the debt in question.
Your debt collection agency or accounts receivable (AR) departments top priority should be collecting as many payments as possible. But the way people communicate is different than it was even a decade ago. Modernize your AR staff and improve customer engagement tactics to keep up with customer expectationsemail, SMS and online payments. Is your customer engagement strategy in line with this goal?
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
If your business is struggling to pay its debts when they fall due, its important to keep in mind what are creditors rights during insolvency proceedings? As a director of an insolvent company, your overriding duty moves from maximising profits for the owners to preventing further losses, with creditors repayments in mind. The below is based on technical guidance for official receivers published by the Insolvency Service: What are creditors rights?
Looking to execute on a judgment but need more information about the judgment debtors assets to collect? If so, you might consider a debtors exam. A debtors exam provides an opportunity for the creditor to question the judgment debtor and discover information related to the defendants assets. The information sought is meant to identify assets that can be used to satisfy the plaintiff’s judgment.
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Looking to execute on a judgment but need more information about the judgment debtors assets to collect? If so, you might consider a debtors exam. A debtors exam provides an opportunity for the creditor to question the judgment debtor and discover information related to the defendants assets. The information sought is meant to identify assets that can be used to satisfy the plaintiff’s judgment.
At the Law Offices of Alan M. Cohen & Associates LLC, our experienced commercial litigation attorneys focusing on commercial collections practice aggressive, relentless and ethical debt collection tactics to help Massachusetts businesses and out of state creditors owed monies from Massachusetts debtors collect their unpaid debts. With over 60 years of combined experience, our first and foremost goal is to fight to get you paid.
A new study, based on an exclusive survey by The Kaplan Group , provides a comprehensive analysis of payment collection challenges, focusing on companies affected by high and very high Days Sales Outstanding (DSO). The research spans various industries and company sizes, offering insights into revenue distributions, industry-specific trends, and the impact of delayed payments on cash flow management.
Debt collection is a complex, evolving industry, and compliance with the myriad of federal, state, and local laws is an ongoing challenge for organizations in the field. These laws create a “patchwork” of rules and regulations that can vary widely depending on the jurisdiction, presenting challenges for those trying to maintain compliance and provide effective, consumer-friendly services.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
EDITOR’S NOTE: The following article was written by the team at Prodigal After a slow start, tax refund processing has quickly caught up. By March 7, the IRS had processed 61.8 million returnsjust 1.8% behind last year’s figures. While the average refund amount has decreased slightly from February’s 7.5% year-over-year increase, it still remains 5.7% higher than in 2024, with most consumers receiving around $3,324.
Email is still one of the fastest, most convenient ways to interact with your customer base, employees, or stakeholders. Learn how to move deals forward, onboard staff or customers, and take payments faster with transactional emails. Transactional Email Definition Automated emails that are sent to individuals based on specific interactions usually associated with a commercial transaction.
Understanding the Landscape of Insurance Industry Collections The Importance of Premium Recovery in the Insurance Sector Insurance organizations serve as the backbone of financial security… The post Reclaim Hidden Value: How Second Placement Reviews Help Maximize Insurance Industry Collections appeared first on Brown & Joseph, LLC.
Heres the latest risk management guidance, published in February 2025, from B&Ns Attorneys Risk Management practice group. BN – Tip of the Month – Lawyers Who Are Notaries – Feb 2025 The post Barron & Newburger’s Latest Risk Management Guidance appeared first on Barron & Newburger, P.C.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
The Court of Appeals for the Fourth Circuit on Friday partially reversed the dismissal of a Fair Debt Collection Practices Act case over whether the plaintiff meets the statute’s definition of “consumer” and whether the debt is still a debt. The background: The lawsuit was filed after the defendant, a servicing corporation, sent two letters to the plaintiff concerning his residential mortgage loan.
As discussed in an earlier post called Jumping Up: Bankruptcy Code Dollar Amounts Will Increase On April 1, 2025 , various dollar amounts in the Bankruptcy Code and related statutory provisions were increased for cases filed on or after today, April 1, 2025. This chart has a list of all of the dollar amount changes now in effect. The official bankruptcy forms have also been revised to reflect these new dollar amounts.
Brown & Joseph is pleased to announce Tomara Bradley as the new Department Manager for the Life & Health division. With over 20 years of… The post Brown & Joseph Welcomes Tomara Bradley as New Life & Health Department Manager appeared first on Brown & Joseph, LLC.
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. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.
Green energy firm Ripple Energy which provided renewable power to over 20,000 customers in the UK has filed notice to appoint administrators. Ripple allowed customers to co-own a wind farm or solar park with thousands of other budding climate heroes by purchasing shares. In return, they receive discounted energy from major suppliers like British Gas.
Taking an esignature, and receiving a payment are often part of the same customer workflow. So why do many esignature software companies treat payments like an afterthought? For example, Docusign payments are only available through a plugin with select integration partners. This means they dont offer a native, built-in payment solution. Drawbacks of Separate eSignatures and Payments Companies expect esignature software to manage digital documents and offer photo and file uploads.
Is the choice made by a collection operation to dismiss a collection lawsuit against a consumer a decision in the consumer’s favor? Not necessarily, ruled a District Court judge in Pennsylvania, who granted the operation’s motion for summary judgment after it was sued for allegedly violating the Fair Debt Collection Practices Act. The background: The defendant filed a lawsuit against the plaintiff in 2018 over an alleged credit card debt.
The TCPA generally prohibits the transmission of an unsolicited advertisement to a telephone facsimile machine. 47 U.S.C. 227(b)(1)(c). But is an online fax service a telephone facsimile machine? And can a plaintiff state a claim based on faxes that were sent to its online fax service? The U.S.
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.
While Boomers and Gen X steadily built equity, Millennials and Gen Z are starting adulthood with crushing debt loads that delay or derail buying a home. An exclusive new study from The Kaplan Group reveals a strong negative correlation between student debt and homeownership rates, and when segmented by age group, the generational divide becomes stark.
New York state legislators introduced the FAIR Business Practices Act in early March 2025, in hopes of providing small businesses more ways to defend themselves from unfair, abusive, and deceptive conduct. Protections that are currently only available to consumers within the state. The Fostering Affordability and Integrity through Reasonable (FAIR) Business Practices Act intends to add a provision to New Yorks General Obligations Law, Section 349, to offer small business owners and not-for-profi
Smooth system integration is more than a technical necessity in collections and recoveriesits a strategic advantage. Disjointed systems, manual workarounds, and fragmented data slow down operations, introduce errors and increase compliance risks. This is where QUALCO Collections & Recoveries (QCR) makes a difference. Designed with a scalable integration network, QCR helps financial institutions streamline debt management operations, enhance efficiency and reduce system complexity.
The Federal Communications Commission has released a new notice inviting comments on a petition aimed at clarifying and potentially waiving certain provisions of the Telephone Consumer Protection Act related to when calls and text messages can be sent. The background: The petition, filed by the Ecommerce Innovation Alliance (EIA) and other stakeholders, seeks to address ongoing legal concerns regarding the TCPAs Quiet Hours rule, which restricts telemarketing calls and text messages to between 8
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.
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