Thu.Aug 08, 2024

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Debt Collection: The Art and Science of Mental Rehearsal

American Profit Recovery

What is Mental Rehearsal? When learning about mental rehearsal, it’s important to understand that it is a proven tactic that can help anyone who wants to improve the way they perform. It has been put through the process of the scientific method with consistently reproducible results. Mental Rehearsal Definition Mental rehearsal is the act of using your internal voice and practicing a task inside your mind without the need to physically act it out.

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Daily Digest – August 8. Getting to Know Karin Dussault of First Financial Resources; Los Angeles County Wants to Scrutinize Hospitals’ Medical Debt

Account Recovery

Getting to Know Karin Dussault of First Financial Resources Los Angeles County Wants to Scrutinize Hospitals’ Medical Debt, Including Accounts Placed with Collection Agencies Appeals Court Affirms Ruling for CRA in FCRA Case, But Dissenting Opinion Says ‘Critical’ Evidence was Overlooked PRA Group Reports Higher Profits, Shares Update on Impact of Turnaround Plan WORTH NOTING: […]

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Why Placing Accounts for Collections is Better than Filing an Insurance Claim

Debt RR

When faced with unpaid debts, businesses often consider either placing accounts with a collections agency or filing an insurance claim to recover losses. While both options have their merits, placing accounts for collections offers several distinct advantages that make it a more effective and efficient solution. Higher Recovery Rates Collections agencies specialize in debt recovery.

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Appeals Court Affirms Ruling for CRA in FCRA Case, But Dissenting Opinion Says ‘Critical’ Evidence was Overlooked

Account Recovery

Dates or dashes. What do they mean and how are they to be used in a consumers’ credit report?

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Solve Your Firms Automation Complexities Once and For All

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.

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Is buying a house with a sibling a good idea? 5 steps for success

Credit Corp

Coming up with the money you need to buy a house can seem out of reach for many people to do alone. According to a recent survey, about half of Americans are willing to split the cost of buying a home with someone else. Buying a home with your sibling may help you pool your resources and get into a nicer home than you could afford alone. But there are a few steps you’ll want to take to make sure the experience is a positive one.

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How to Remove an Ex-Spouse from Your Credit Report

Credit Corp

According to U.S. News & World Report , 66% of divorced people had shared debt with their ex-spouse. This can complicate financial situations as both parties are still liable for the debt even after divorce. If you had joint accounts during your marriage, your ex-spouse’s information will remain on your credit report for up to 10 years after you pay off the balance and close the account.

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PRA Group Reports Higher Profits, Shares Update on Impact of Turnaround Plan

Account Recovery

PRA Group reported its second quarter financial results earlier this week, and while the news at the company was good, there were a number of interesting nuggets that the company disclosed during a conference call with analysts that might be of more interest.

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How Long Before Debt Collectors Sue? The Statute of Limitations on Debt

Credit Corp

It can vary between weeks or months of missed payments, but collectors typically take steps before resorting to lawsuits. Some states also have a legal limit that prevents them from suing after a certain timeframe. Debt collectors can feel relentless. You might be wondering, “When can this stop? Can they really sue me?” The answer is yes—debt collectors can sue you to recover the debts that you owe.

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Getting to Know Karin Dussault of First Financial Resources

Account Recovery

I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support.

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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

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.

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What Is a Credit Score?

Credit Corp

A credit score is a three-digit number that indicates how likely an individual is to repay a loan or other types of debt on-time based on their previous credit history. It helps creditors determine whether someone can qualify for credit and on what terms. Did you know that 42% of adults in the Gen Z demographic don’t know what their credit score is?

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What Should You Use Your Credit Card For? 8 Smart Purchases

Credit Corp

If you’re trying to stick to a budget but still want to build your credit, you’ve likely wondered what you should use your credit card for. While you can use your credit card to pay for just about everything you buy, some purchases are more beneficial to your credit health than others. Here are eight smart purchases you can make with your card. Key takeaways: Many credit cards offer rewards like miles or cash back on purchases, and the more you use your card, the more you can maximize those rewa

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Can a Cosigner Take You to Court? 4 Potential Scenarios + Alternatives

Credit Corp

Cosigners can take the primary borrower to court if the primary borrower fails to repay the loan or otherwise fails to fulfill the terms of their agreement. As you learn about getting a cosigner, you’ll see that they can help you get a loan you may not otherwise qualify for. Your cosigner effectively promises to repay your loan if you fail to make payments on your own.

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