Account Recovery

JANUARY 10, 2025

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Original Creditor Fair Debt Collection Creditors Collections 130

Enterprise Recovery

JANUARY 10, 2025

As accounts receivable (A/R) become delinquent, your business expenses could fall behind. With every late-paying client, cash flow for payroll, rent, or other vendors falls short, threatening your company's bottom line and growth. The effectiveness of your A/R department may be one of the most important measurements to determine the success of your business.

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Collections 146

Account Recovery

JANUARY 7, 2025

The Consumer Financial Protection Bureau this morning announced the release of its final rule prohibiting the inclusion of medical debt on consumer credit reports. This rule is expected to remove $49 billion in medical debt from credit reports, impacting approximately 15 million consumers. Additionally, it bars lenders from considering medical information in credit decisions, addressing concerns about the fairness and accuracy of medical debt in credit assessments.

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Lender Consumer Credit Loans Healthcare 246

American Profit Recovery

JANUARY 6, 2025

Active listening is something our professional debt collectors practice and implement daily here. In fact, we would go as far as to say that it is one of the foundations of how we operate. In all aspects of life and business, listening is one of the most critical skills we can master. And as a collection agency working with small businesses and large organizations, it is a must for us to carry out our mission.

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Collections Debt collector Collection Agencies Collections Agency 173

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.

Consumer Finance

JANUARY 6, 2025

Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule to ban the inclusion of medical bills on credit reports used by lenders and prohibit lenders from using medical information in their lending decisions.

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Lender 145

Account Recovery

JANUARY 2, 2025

Defaults on credit card debt have surged to their highest levels since the 2008 financial crisis, signaling worsening financial conditions for lower-income consumers amid persistent inflation and elevated interest rates. By the numbers: The big picture: Consumers are feeling the pinch as higher balances and borrowing costs erode their financial stability: Between the lines: The pandemic-era surge in savings and consumer spending gave credit card issuers confidence to extend credit to riskier bor

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Credit Card Debt 246

American Profit Recovery

JANUARY 9, 2025

There are many great career opportunities in the debt collection industry. And one of them is being a professional debt collector. Professionally trained debt collectors serve several purposes. They of course assist a business with improving cash flow by bringing late and non-paying customers to the table. And they help consumers navigate challenging financial situations.

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Debt collector Collection Agencies Collections Agency Collections 130

Consumer Finance

JANUARY 6, 2025

The CFPB sued Experian, the nationwide consumer reporting agency, for unlawfully failing to properly investigate consumer disputes.

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Hudson Weir

JANUARY 10, 2025

Businesses rely on steady cash flow to operate smoothly, and unpaid invoices can create major hurdles With this in mind, you might wonder: what is a letter before action and how can it help recover debts? UK small businesses face an average of 22,000 in overdue payments, translating to an economic loss of 2.5 billion annually. In fact, customers paid nearly 50% of small businesses invoices late between June 2023 and June 2024, according to Apollo.

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Debt Recovery Creditors Government Collection Agencies 59

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

Collections Law

DECEMBER 27, 2024

Watching your debtor continue business as usual while they owe you money can be incredibly frustrating. You have a judgment in hand, yet your debtor seems unfazed, conducting transactions and collecting payments without a second thought to what they owe you. Its enough to make any business owner in Massachusetts feel powerless. The good news is that you are not powerless.

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Debtor Lawyers Judgment Collections 52

Account Recovery

JANUARY 8, 2025

The Consumer Financial Protection Bureau yesterday announced it has filed a lawsuit against Experian, one of the nation’s largest credit reporting agencies, accusing it of systemic failures in handling consumer disputes. The suit could have widespread implications for credit reporting practices, debt collection, and consumer financial protections.

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Loans Collections 130

FFGN COLLECT NY

JANUARY 5, 2025

With the new year comes an increase in the minimum wage in New York. The new rate depends on the region where the employee works. As of January 1, 2025, the state minimum wage increased by $0.50. In many parts of New York, the minimum wage is now $16.50, more than double the $7.50 federal minimum wage. Will the new minimum wage affect debt collection?

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Garnishment Collections Judgment 52

Consumer Finance

JANUARY 13, 2025

The CFPB sued Capital One for cheating millions of consumers out of more than $2 billion in interest.

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Banks 130

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Collection Agencies

PDC Flow

JANUARY 9, 2025

We are thrilled to announce PDCflow has been recognized with the Best Customer Support Badge by Software Advice , a leading software recommendation engine that helps businesses find the right software. This Best of badges program is an independent assessment that evaluates user reviews to help buyers identify highest-rated software companies in specific categories that offer the most popular solutions.

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Collections 52

NCBA Law Practice Management Blog

JANUARY 5, 2025

If youve been following the news about lawyers use of artificial intelligence, youll know that hallucinations have been an issue. When a generative AI tool, like ChatGPT , hallucinates , it essentially makes things up. Now, thats a problem if, say, youre an attorney adding a court case to a legal brief, that youll submit to the court. Theres a whole line of caselaw , about how bad this can be, starting with Mata v Avianca.

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Lawyers Law Firms Judgment Creditors 52

Account Recovery

JANUARY 9, 2025

A District Court judge in Illinois has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case, ruling the plaintiff lacked standing after alleging violations related to a disputed debt originating from identity theft. The background: The case stemmed from a credit card account fraudulently opened in the plaintiff’s name with a retailers branded credit card.

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Fair Debt Collection Retail Banks Collections 130

Enterprise Recovery

JANUARY 3, 2025

It's the perfect time for B2B sales professionals to reevaluate client relationships. Trust and loyalty will go a long way in staying in front of mind when your clients are making major budget decisions. If you're not already planning to connect with your clients this month, let this be a reminder. Strengthening client relationships is the perfect resolution for B2B sales professionals in the new year.

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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.

Consumer Finance

JANUARY 6, 2025

The CFPB sued Experian, the nationwide consumer reporting agency, for unlawfully failing to properly investigate consumer disputes.

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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.

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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.

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Account Recovery

DECEMBER 26, 2024

New York Gov. Kathy Hochul this week signed a sweeping package of bills to enhance consumer data protection in New York into law. While the package tackles various digital safety issues, one law stands out for debt collection professionals: S5703B/A1035B, which bans the use of social media platforms for debt collection. The details: The newly enacted law prohibits debt collectors from using social media platforms to communicate with consumers about unpaid debts.

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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.

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Education 52

Consumer Finance

JANUARY 5, 2025

The CFPB sued Vanderbilt Mortgage & Finance for setting families up to fail when they borrowed money to buy a manufactured home.

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The Kaplan Group

JANUARY 13, 2025

A new study by The Kaplan Group explores the relationship between generational spending patterns and geographical cost of living. It also examines how location-based cost of living impacts savings potential more significantly than raw income, with lower-cost states demonstrating higher savings scores despite lower median incomes. Key Takeaways Gen X demonstrates the highest potential for savings, with an annual savings potential of $27,200.

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Education 52

Burt and Associates

JANUARY 10, 2025

Financial health is the backbone of long-term success for small business owners. While revenue growth and customer acquisition are often the focus, effective debt management is equally critical. One tool that stands out in managing debts and ensuring steady cash flow is amortization —a concept that can make seemingly insurmountable debts manageable and predictable.

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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.