Enterprise Recovery

DECEMBER 6, 2024

B2B debt collection requires an understanding of effective strategies to mitigate delinquent accounts. This process involves implementing proactive measures so businesses can avoid issues such as unclear credit policies, inadequate communication, and poor documentation practices. Also, technology and professional debt collection services can enhance the ability to recover outstanding debts and maintain healthy financial operations.

Collections 218

Collections 218

Account Recovery

DECEMBER 11, 2024

The Consumer Financial Protection Bureau has initiated a rulemaking process related to the Fair Credit Reporting Act aimed at protecting survivors of domestic violence, elder abuse, and financial coercion from the long-lasting financial harm of coerced debt. Driving the news: Earlier this week, the CFPB announced an advance notice of proposed rulemaking (ANPR) to amend the FCRA.

130

130

American Profit Recovery

NOVEMBER 25, 2024

Utilizing a reputable collection agency for your all business or larger organization is one of the best ways to dramatically improve cash flow. And, it’s also a strategic tool in retaining your customers even if they do owe you money. Professionally trained debt collectors understand how to listen, show empathy, understand individual situations and take the time to solve problems with consumers.

Collections Agency 147

Collections Agency Collection Agencies Debt collector Collections 147

Account Recovery

NOVEMBER 25, 2024

The latest Outlook on American Life report from H&R Block offers a mixed view of Americans’ financial health. While income gains outpaced inflation for many, especially younger generations, rising debt — particularly credit card and student loans — continues to weigh heavily on households across the country. Understanding these consumer behaviors and trends is crucial for collections professionals looking to assess repayment potential.

Student loans 147

Student loans Student Loans Credit Card Debt Loans 147

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.

Consumer Finance

DECEMBER 4, 2024

The CFPB is distributing $1.8 billion to 4.3 million consumers charged illegal junk fees by credit repair companies including Lexington Law and CreditRepair.com.

134

134

Enterprise Recovery

NOVEMBER 25, 2024

One of the most challenging parts of starting a business or working independently is deciding on your rates. After that, you must negotiate contract terms with your clients, including asking to get paid for your work. Navigating the complex world of B2B payments can be daunting for business owners, but mastering effective negotiation strategies can ensure you always get paid for your hard work.

204

204

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

DECEMBER 10, 2024

The Consumer Financial Protection Bureau yesterday announced an enforcement action against Performant Recovery, Inc., a debt collection agency accused of delaying student loan rehabilitations to increase fees. Performants practices, which cost individual borrowers thousands of dollars, have resulted in a $700,000 penalty and a ban on the company from servicing or collecting any student loan debt.

Student loans 130

Student loans Student Loans Loans Collections Agency 130

Consumer Finance

NOVEMBER 20, 2024

The CFPB today finalized a rule to supervise the largest nonbank companies offering digital funds transfer and payment wallet apps.

Financial services 131

Financial services 131

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

PDC Flow

NOVEMBER 22, 2024

Omnichannel payments and multichannel payments are both terms used to describe the options your software allows for taking customer payments. Omnichannel payment features improve the payment experience for customers but they also have a positive impact on your overall business operations. What are Omnichannel Payments? Omni or multichannel payment solutions let you take advantage of more than one payment channel in a single platform.

Banks 89

Banks Government Collections 89

True Accord

NOVEMBER 22, 2024

TrueAccord is at the forefront of defending litigation related to digital communications in debt collection and its recent victory in the Southern District of Florida is a resounding victory for digital channels in our industry. In Quinn-Davis v. TrueAccord , the court grappled with the concept of timing in order to figure out when an email is considered inconvenient under both the Federal Debt Collection Practices Act (FDCPA) and the Florida Debt Collection Practices Act (FCCPA).

Debt collector 91

Debt collector Debtor Collections Judgment 91

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.

Debt Recovery 80

Debt Recovery Collections 80

Account Recovery

DECEMBER 2, 2024

Sometimes it’s better to be lucky than good. Today’s webinar just happens to be on the topic of legal collections (register here) so it’s entirely timely to write about a court ruling involving a judgment. A District Court judge in Kentucky has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case after it was sued for not informing the plaintiff that a debt was allegedly time-barred when it sent a letter informing the plaintiff of payment opti

Judgment 130

Judgment Garnishment Fair Debt Collection Legal Collections 130

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

Consumer Finance

DECEMBER 8, 2024

The CFPB launched a rulemaking to address the harmful effects of inaccurate credit reporting affecting survivors of domestic violence, elder abuse, and other forms of financial abuse.

120

120

Hudson Weir

DECEMBER 10, 2024

Cash flow is key to the running of business operations, so unpaid customer invoices can create significant challenges There are several ways to recover the debt and with that in mind, you may be wondering what is a charging order and can it help? According to a survey from Capital on Tap reported by On The Tools , businesses in the UK are due 7.4bn in overdue invoices.

Creditors 52

Creditors Debtor Debt Recovery Legal Rights 52

True Accord

DECEMBER 11, 2024

Its that time of year againthe season of giving, which has landed nearly half (47%) of consumers in debt thanks to holiday spending in the past. And the struggle continues to be real for consumers with 68% reporting that inflation is stretching their holiday budgets thin and 89% of consumers reporting they feel tempted to spend more than they should.

Collections 52

Collections Credit Card Debt 52

On Guard

DECEMBER 5, 2024

While fewer than 20% of strategic decisions currently leverage AI in the Dutch finance sector, this figure is projected to surge to nearly 50% within the next five years. This is according to the latest Deloitte CFO Survey , based on a sample of over 130 Dutch CFOs from various sectors. The popularity of AI has surged with tools like ChatGPT, highlighting its ability to streamline work processes for some time now.

Credit Management 52

Credit Management Healthcare Judgment Financial services 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.

Account Recovery

DECEMBER 6, 2024

When you couple that the Consumer Financial Protection Bureau is making its largest-ever distribution from its Victims Relief Fund, and that it will be sending $1.8 billion to more than 4 million consumers, with the fact that those consumers were victims of bait-and-switch advertising undertaken by Lexington Law and CreditRepair.com, it’s worth mentioning.

Bankruptcy 130

Bankruptcy Judgment Collections 130

Consumer Finance

DECEMBER 2, 2024

The CFPB today proposed a rule to rein in data brokers that sell Americans' sensitive personal and financial information.

119

119

FFGN COLLECT NY

DECEMBER 2, 2024

What happens if a client who kept insurance funds proceeds later files for bankruptcy? Will a bankruptcy court allow the debtor to keep monies intended for you? According to a recent New York court case, the answer is no. The bankruptcy court refused to grant a discharge to a debtor who failed to turn over insurance checks to the provider. Medical and restoration services are often provided without payment upfront.

Judgment 52

Judgment Bankruptcy Debtor Creditors 52

Collections Law

DECEMBER 2, 2024

If you run any sort of business, it is almost inevitable that someday, you will have to attempt to collect on an unpaid debt. Unpaid debts present numerous challenges for creditors. One such challenge is when a debtor claims not to have the funds to pay their unpaid debts. At the Law Offices of Alan M. Cohen & Associates LLC, our commercial collections attorneys have more than 50 years of combined experience helping our commercial clients in Massachusetts collect on their unpaid debts.

Commercial Collection 52

Commercial Collection Debtor Creditors Collections 52

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

Credit Corp

DECEMBER 3, 2024

When youre late on payments or stop making payments on a loan, the lender can repossess or repo the item youre financing to settle your debt. Knowing how to get a repo off your credit report can help you boost your score and minimize the impact of those negative items on your credit score. Lets take a closer look at how to remove repossessions from your report.

Repossession 52

Repossession Debt settlement Lender Credit Bureau 52

Account Recovery

DECEMBER 5, 2024

A state Appeals Court in Wisconsin has affirmed the certification of a class in a Fair Debt Collection Practices Act case, agreeing with the lower court that the plaintiff’s claims were not mooted by an offer of individual relief made by the defendant. The background: The defendant sent the plaintiff a collection letter back in 2021, attempting to collect a debt owed to a third party.

Fair Debt Collection 130

Fair Debt Collection Collections 130

Consumer Finance

DECEMBER 5, 2024

The CFPB sued Comerica Bank for systematically failing its 3.4 million Direct Express cardholders - primarily unbanked Americans receiving federal benefits.

Banks 112

Banks 112

On Guard

DECEMBER 5, 2024

While fewer than 20% of strategic decisions currently leverage AI in the Dutch finance sector, this figure is projected to surge to nearly 50% within the next five years. This is according to the latest Deloitte CFO Survey , based on a sample of over 130 Dutch CFOs from various sectors. The popularity of AI has surged with tools like ChatGPT, highlighting its ability to streamline work processes for some time now.

Credit Management 52

Credit Management Healthcare Judgment Financial services 52

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