American Profit Recovery

NOVEMBER 20, 2024

If you’re running any type of business, negative cash flow does not just happen. There are always red flags of negative cash flow that give you an indication of a problem within your organization. Negative cash flow can rapidly disrupt a small business’s operations. Many businesses struggle to keep a consistent client base and have slim margins, which means it’s important to keep a close eye on cash flow.

Collections Agency 147

Collections Agency Collection Agencies Debt collector Collections 147

Account Recovery

NOVEMBER 18, 2024

Granted, this appears to be available in England only for now, and it’s intended to fight fraud and scams, but it’s likely only a matter of time before it makes its way westward to the United States and could possibly be deployed against collection calls. England’s largest cellphone carrier has unveiled a new technology that could pose a new challenge for debt collectors.

Debt collector 162

Debt collector Collections 162

Enterprise Recovery

NOVEMBER 15, 2024

Following up on past-due invoices and delinquent accounts can be a full-time job. However, it is invaluable to your business's bottom line. If you're considering outsourcing debt collections or handling them in-house, this post can help clarify the benefits of outsourcing. Outsourcing B2B debt collection can transform your financial operations by bringing in expertise, reducing costs, and freeing up valuable internal resources.

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Collections 177

Consumer Finance

NOVEMBER 13, 2024

The CFPB took action against Global Tel Link Corporation and its subsidiaries for taking millions of dollars from consumer accounts and blocking money transfers to consumers who are incarcerated.

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Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

UK debt collections

NOVEMBER 19, 2024

Research by Forvis Mazars has found that insolvencies of logistics companies’ have risen 14% in the past year, from 464 in 2022/23 to 530 in 2023/24. Many logistics businesses were set up during the pandemic to meet the sudden rise in demand for home delivery. As this surge in demand reversed, some of these companies are struggling to survive. In May 2020, during the height of the pandemic, internet sales made up 34% of all retail sales.

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Retail 71

Prosperity Now

NOVEMBER 18, 2024

Starting a business is never easy, and for entrepreneurs of color, the journey is often filled with unique challenges. Bianca Jackson, founder of BrickRose Exchange, shares her journey, the hurdles she's faced, and her vision for a future where technology and innovation empower all entrepreneurs.

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Hudson Weir

NOVEMBER 18, 2024

Find out how a freezing order works in this guide and learn about the options for business recovery after a creditor has blocked access to the company’s cash or assets. What is a freezing order exactly? Courts may grant a freezing order after a successful application from a creditor to deny directors access to their company’s cash or assets of an equivalent value to the debt.

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Creditors Banks Government Trade 52

Consumer Finance

NOVEMBER 14, 2024

The CFPB released the annual report of the Student Loan Ombudsman, highlighting severe difficulties reported by student borrowers in consumer complaints.

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Student Loans Student loans Loans Education 88

FFGN COLLECT NY

NOVEMBER 17, 2024

Strapped for cash, MyPillow CEO Mike Lindell took at least two merchant cash advances. Because Lindell’s companies defaulted on payments, suits were filed in New York alleging MyPillow-related entities and Mike Lindell as a personal guarantor defaulted on the loans. Sometimes businesses that do not qualify for traditional loans look for alternative forms of funding.

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Loans Judgment Lender Debtor 52

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.

Banks

Account Recovery

NOVEMBER 19, 2024

A District Court judge in California has granted a defendant’s motion to dismiss after it was accused of violating the Fair Debt Collection Practices Act and the Rosenthal Fair Debt Collection Practices Act by attempting to collect on a debt that had been discharged in bankruptcy. The background: The plaintiff filed this lawsuit accusing the defendant of improperly renewing a judgment that had been discharged during a prior Chapter 7 bankruptcy.

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Chapter 7 bankruptcy Fair Debt Collection Bankruptcy Collections 130

True Accord

NOVEMBER 13, 2024

With its growing popularity, one Buy Now, Pay Later (BNPL) faced challenges with the complexity of managing late-stage collection—a hurdle many start-ups face since the majority of a scaling company’s resources are dedicated to bottom-line business goals rather than debt collection. So as the BNPL continued to expand, accounts overdue by 90 days or more accumulated without a scalable strategy for resolution, making the BNPL vulnerable to revenue loss.

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Debt Recovery Collections 61

NCBA Law Practice Management Blog

NOVEMBER 17, 2024

If you’re a solo attorney – whether that’s a true solo (just you & no team) or a solo, with non-attorney staff help – it’s definitely a scary proposition to hire your first attorney. Some solo lawyer s , in fact, never do it. They just can’t get past the fear. But, if you can make that hire, and make it successfully, that’s like adding lighter fluid to the fire of law firm growth.

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Law Firms Lawyers Creditors 52

Consumer Finance

NOVEMBER 17, 2024

Director Chopra submitted this statement for the record in connection with a closed meeting of the FDIC Board of Directors held on November 12, 2024.

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Banks 63

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Collection Agencies

UK debt collections

NOVEMBER 20, 2024

Dudley Council is chasing an eye-watering £20m in unpaid debts owed for more than three months despite battling a financial black hole. The authority is currently working to balance the books ahead of next year’s budget with a gap of £35m between what it spends and its income. Despite the financial crisis there are millions of pounds in bills from the council that have been unpaid for more than 90 days.

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Debt Recovery Collections 59

Account Recovery

NOVEMBER 19, 2024

A member of the House of Representatives has introduced a resolution calling on Congress to express its disapproval of the Consumer Financial Protection Bureau’s medical debt advisory opinion, which has become the subject of much debate since it was released last month. The resolution was introduced by Rep. Gary Palmer [R-Ala.], who isn’t a member of the House Financial Services Committee or any healthcare committees, has only sponsored four bills this year, but has introduced 37 res

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Healthcare Financial services Collections 130

Credit Corp

NOVEMBER 15, 2024

Being tight on cash when your credit card is due can be stressful. You may wonder if you can use another credit card to cover the upcoming payment. Unfortunately, most lenders don’t accept credit card payments. But that doesn’t mean you’re out of options. You can try using a cash advance or transferring the balance to a different card.

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Accrued Interest Personal loans Lender Consolidate Debt 52

PDC Flow

NOVEMBER 14, 2024

Companies with strict compliance needs or those that value privacy should be using secure document sharing for every message they send. After all, failing to protect customer information with secure document sharing practices can: create compliance issues damage your reputation lead to customer loss result in financial penalties Plus, customers expect secure document sharing any time you send contracts, terms of service, or other important paperwork to an email inbox or mobile number.

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Healthcare Retrieval Education Collections 52

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

NOVEMBER 13, 2024

You’ve gone through the trouble of obtaining a judgment against a debtor, yet here you are, now facing the frustration of having to find money to collect. The debtor seems to have vanished, taking their assets with them. Sound familiar? It’s a predicament many business owners in Massachusetts encounter. But fear not, the supplementary process in Massachusetts can be your saving grace.

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Judgment Commercial Collection Debtor Creditors 52

UK debt collections

NOVEMBER 20, 2024

Latest figures from the Insolvency Service have shown that the number of business insolvencies in England and Wales was 1,747 in October 2024, 10% lower than in September 2024 (1,950) and 24% lower than the same month in the previous year. The business insolvencies figures consisted of 188 compulsory liquidations, 1,445 creditors’ voluntary liquidations (CVLs), 100 administrations and 12 company voluntary arrangements (CVAs).

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Retail Trade Construction Creditors 59

Account Recovery

NOVEMBER 19, 2024

The Consumer Financial Protection Bureau on Friday released its annual report on student loan servicing, revealing systemic failures and persistent errors by servicers that are continuing to impact millions of student borrowers. Driving the news: The CFPB report highlights a spike in consumer complaints against loan servicers, showing the highest volume since the bureau began collecting complaints in 2012.

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Student Loans Student loans Loans Collections 130

Credit Corp

NOVEMBER 15, 2024

When you take out a mortgage, a financial institution agrees to lend you enough money to purchase a home. In exchange, you promise to make monthly payments until you’ve paid off the loan balance. Each payment includes principal and interest, which is the cost of borrowing money. Before approving your mortgage application, a lender needs to know you have the ability to pay back the loan.

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Lender Personal loans Loans Financial Institution 52

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Collections

Prosperity Now

NOVEMBER 19, 2024

Entrepreneurship is never an easy path, but it can be a transformative one, especially for those in underserved communities who face unique challenges in accessing resources and opportunities. Arturo Noriega, Founder and CEO of Centro Community Partners, has dedicated his work to breaking down these barriers.

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PDC Flow

NOVEMBER 20, 2024

According to Forbes , there were 2,365 cyberattacks in 2023, with 343,338,964 victims. These data security breaches are a big problem for companies and consumers alike. That’s why there are rules, regulations, and best practices centered around protecting customers through credit card tokenization and data encryption. Credit card tokenization and encryption shield essential customer payment information from being exposed.

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Education 52

Account Recovery

NOVEMBER 19, 2024

Collector Facing FDCPA Class Action For Not Adjusting Post-Judgment Interest Rate Judge Grants MTD in FDCPA Case Over Attempt To Collect on Discharged Debt Resolution Introduced in House Condemning CFPB Medical Debt Collection Guidance CFPB: Student Loan Servicing Failures Continue to Harm Borrowers WORTH NOTING: Medical debt is now the subject of a comedy special … If you are traveling next week for Thanksgiving, you aren’t going to be alone … Stay at the Air Force AcademyR

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Judgment Student Loans Student loans Collections 130

Account Recovery

NOVEMBER 18, 2024

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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Fair Debt Collection Credit Card Debt Debt collector Collections 130

Speaker: Genevieve Hancock, CPA

Cash flow isn’t just about balancing numbers - it's about ensuring your organization is positioned for both immediate stability and long-term success. Understanding that cash flow management fuels every decision, every opportunity, and every growth phase is critical. But how can you shift from simply managing cash to strategically optimizing it for resilience?

Financial services