Account Recovery

JANUARY 21, 2025

The credit and collection industry is facing a rapidly evolving landscape shaped by digital transformation, economic shifts, and regulatory changes. As 2025 progresses, understanding these trends can help industry professionals optimize their strategies and stay ahead of the curve. 1. The Rise of the Orchestration Economy The big picture: The debt collection industry is witnessing a shift from fragmented, app-based ecosystems to integrated orchestration platforms.

Collections 130

Collections 130

Consumer Finance

JANUARY 16, 2025

The CFPB took action against Equifax, the nationwide consumer reporting agency, for its failure to conduct proper investigations of consumer disputes.

133

133

Collect More

JANUARY 19, 2025

If there are multiple outstanding invoices on your customer’s Statement then unfortunately my friend, you have a problem. When was the last time you cut off a debtor who owed you money? Said no when they asked you to do more work or provide more stock? Told them you’d only agree once they’ve paid you in full? If you’re like most small businesses the answer is never.

Debtor 100

Debtor Creditors Collections 100

True Accord

JANUARY 15, 2025

Email has come a long way from the mass blast messagingdeveloping, customizing, and optimizing intelligent email strategies has shown success in both engagement and repayment rates in debt collection. But there’s more that goes into harnessing this channel than just hitting send and hoping for the best. Heres how creditors and collectors can strategically leverage email in debt collection communications to enhance engagement, maintain compliance, and drive repayments.

Collections 80

Collections Fair Debt Collection Creditors 80

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

Burt and Associates

JANUARY 17, 2025

In the world of business, financial health is everything. Companies thrive or falter based on their ability to manage resources effectively and meet short-term obligations. Enter the acid test , also known as the quick ratio , a vital financial metric that helps assess a companys immediate liquidity. This ratio provides insight into whether a business can cover its short-term liabilities without relying on the sale of inventory, making it an invaluable tool for business owners and financial mana

Asset liquidation 52

Asset liquidation Manufacturing Creditors Retail 52

Account Recovery

JANUARY 17, 2025

The Consumer Financial Protection Bureau yesterday announced a settlement with the National Collegiate Student Loan Trusts (NCSLTs) to resolve allegations of defective debt collection practices. If approved by the court, the stipulated judgment will require the NCSLTs to provide $2.25 million in redress to consumers and implement corrective actions to address the alleged violations.

Student loans 130

Student loans Student Loans Collections Loans 130

FFGN COLLECT NY

JANUARY 14, 2025

A guarantee is a written promise by one person to pay another’s debt. In a commercial setting, a guarantee is typically the promise of an owner or officer to pay the debt of a corporate entity should it default on its obligation. A commercial guarantee provides additional security and consideration for the creditor. It’s an additional incentive for the corporate entity to fulfill its obligations.

Creditors 52

Creditors Lender Collections 52

Hudson Weir

JANUARY 20, 2025

During a companys liquidation, the appointed insolvency practitioner aims to raise as much money as viable to repay creditors, but there may not be enough to reimburse everyone. A proof of debt form is one way that creditors can increase their chances of recouping some of the money owed to them. The Insolvency Act 1986 establishes a legal hierarchy to compensate creditors throughout a company liquidation.

Creditors 52

Creditors Unsecured Creditor Secured Creditor Loans 52

Jimerson Firm

JANUARY 16, 2025

(Update as of 12/27/24): In a shocking turn of events, on December 26, 2024, the Fifth Circuit Court of Appeals reversed its own Order issued earlier this week (see below), resulting in a reinstatement of the injunction on filing beneficial ownership information (BOI) reports. This means that as of this blog post, there is no firm deadline on when you need to file your BOI.

Credit Unions 40

Credit Unions Credit Unions Acquisition Creditors 40

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

Consumer Finance

JANUARY 15, 2025

The CFPB ordered Block, the operator of the peer-to-peer payments app Cash App, to refund consumers $120 million and pay a penalty of $55 million.

Financial services 123

Financial services 123

Account Recovery

JANUARY 14, 2025

A District Court judge in Illinois has granted a defendant’s motion to dismiss after it was sued for sending a letter to an individual who had indicated that email was the only convenient channel of communication. The ruling, issued by Judge Georgia N. Alexakis of the District Court for the Northern District of Illinois, was based on the fact that the plaintiff lacked standing to sue because she did not suffer a concrete injury.

Law Firms 130

Law Firms Collections 130

UK debt collections

JANUARY 15, 2025

Didsbury Gin was founded by best friends and gin lovers Liam Manton and Mark Smallwood in 2017, who according to the brands website, wanted to take gin to the next level. A year after founding the brand, the pair won a 75,000 (US$88,952) grant after appearing on BBC television series Dragons Den , which in return would take a 10% stake in their business.

Retail 58

Retail Debt Financing Creditors Trade 58

NCBA Law Practice Management Blog

JANUARY 18, 2025

It happens from time to time, when a third party pays for the legal services of another. Though, its still a fairly unusual situation. So, the question is: What do you do when it happens? Ideally, two things: First, you want to clearly explain to both the payor and the client that the payor is not the client, the client is which sounds like an obvious thing for lawyers, but wont be for your clients and the person paying the legal fees.

Law Firms 52

Law Firms Lawyers Creditors 52

Advertisement

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.

Collection Agencies

PDC Flow

JANUARY 17, 2025

In todays fast-paced business world, operational efficiency is key to staying ahead. Businesses face constant challenges in streamlining business processes, maintaining compliance, and enhancing customer experiencesall while keeping operational costs low. To help address these issues, PDCflow recently hosted a webinar titled Boost Operational Efficiency with Bulk Flows, Custom Branding, and Automated Reminders, featuring Kristen Makanoa, our resident workflow expert and Product Manager.

Healthcare 52

Healthcare Financial services Collections 52

Consumer Finance

JANUARY 16, 2025

The CFPB took action against Draper & Kramer Mortgage Corporation for discriminatory mortgage lending activities that discouraged homebuyers from applying to Draper for homes in majority-Black and Hispanic neighborhoods in the greater Chicago and Boston areas.

77

77

Account Recovery

JANUARY 15, 2025

A District Court judge in Florida has denied a defendant’s motion to dismiss claims it violated the Fair Debt Collection Practices Act and the Florida Consumer Collections Practices Act in a ruling that seems potentially problematic in terms of the definition of debt collector and when a debt is in default. The background: The case stems from a parking fee dispute at a private garage in Miami.

Debt collector 130

Debt collector Fair Debt Collection Consumer Collections Collections 130

FFGN COLLECT NY

JANUARY 14, 2025

A guaranty is a written promise by one person to pay another’s debt. In a commercial setting, a guaranty is typically the promise of an owner or officer to pay the debt of a corporate entity should it default on its obligation. A commercial guaranty provides additional security and consideration for the creditor. It’s an additional incentive for the corporate entity to fulfill its obligations.

Creditors 52

Creditors Lender 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.

NCBA Law Practice Management Blog

JANUARY 18, 2025

The most efficient law firms (and, thus: the most profitable) are driven by effective processes. In fact, creating and managing workflows is one of the most important things that you can do as a law firm owner. However, you can take it further. Many project management, case management and CRM systems now offer the ability to add phases or stages to processes.

Law Firms 52

Law Firms Creditors Collections 52

Jimerson Firm

JANUARY 14, 2025

In todays digital age, cybersecurity has become a critical concern for businesses and individuals alike. With increasing cyber threats and data breaches, it is essential to understand the legal frameworks that govern the protection of information systems. In Florida, specific statutes and regulations address cybersecurity, imposing obligations on organizations to safeguard sensitive data and ensure compliance with state laws.

Government 52

Government Law Firms Creditors Collections 52

Consumer Finance

JANUARY 15, 2025

The CFPB took action to resolve its case against the National Collegiate Student Loan Trusts for unlawfully filing defective debt collection lawsuits to collect on private student loan debt.

Student Loans 59

Student Loans Student loans Loans Collections 59

Account Recovery

JANUARY 20, 2025

On its way out the door, the Department of Education has published a memo outlining the steps that the new administration should take to prevent individuals from defaulting on their student loan payments and the importance of continuing the actions that have been taken by the outgoing administration. Why it matters: Federal student loan borrowers will face penalties and consequences for missed payments in 2025 for the first time in five years.

Student Loans 130

Student Loans Student loans Loans Garnishment 130

Advertisement

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.

Collections

On Guard

JANUARY 14, 2025

When starting your career as a pedagogist and a dance teacher, you dont expect to end up excelling in B2B sales. But these two might not be so far apart. For Natascha, the link is clear: persuasion and instilling enthusiasm. This is her story. She has been working at Onguard for 24 years, she loves philosophy and art, and she is Onguards go-to person for sustainability, a former active member of the work council, the organisations Unicef project team member, and a gender diversity advocate.

Education 52

Education 52

True Accord

JANUARY 21, 2025

Looking at key economic indicatorsGDP growth, consumer spending, softening inflation and a healthy job marketit would be easy to deduce that consumers in America are faring well. But digging deeper reveals unwieldy debt, expected rises in charge-offs and uncertainty around future economic conditions, painting a less rosy picture of the financial situation.

Student loans 69

Student loans Student Loans Credit Card Debt Financial Institution 69

Jimerson Firm

JANUARY 21, 2025

As the Surgeon General concludes his tenure, Vivek Murthys advisory on the relationship between alcohol and cancer has sparked a national conversation. Released on January 3, 2025, the advisory emphasizes the scientific link between alcohol consumption and increased cancer risk for several types of cancer, including breast, liver, and throat cancers.

Education 52

Education Healthcare Retail Construction 52

Consumer Finance

JANUARY 14, 2025

A summary of the risks consumers face with home equity investment contracts and agreements, including high costs, lack of disclosures, forced sale of home, and liens.

56

56

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.