Wed.Jul 31, 2024

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Differences in Handling Consumer Debt vs. Business Debt

Enterprise Recovery

Consumer and business debt are two distinct types of debt that are handled quite differently. Consumer debt is the debt individuals incur for personal expenses, such as credit card debt, student loans, or mortgages. Business debt, however, refers to the debt incurred by businesses or organizations for various purposes, such as operational expenses, investment in assets, or expansion.

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Judge Grants MTD in FDCPA Class Action Over Language in Letter

Account Recovery

A District Court judge in New Jersey has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act class-action lawsuit, but not on the merits as the defendant had sought. Instead, the judge ruled the plaintiff lacked standing to pursue his suit and dismissed the case.

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Prepared Remarks of CFPB Director Rohit Chopra at the Public Meeting of the Strike Force on Unfair and Illegal Pricing

Consumer Finance

Director Rohit Chopra outlined recent efforts to combat price gouging and unfair practices in financial services, focusing on private equity involvement, junk fees, and credit card interest rates.

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Bill Introduced in House to Limit Certain Medical Debts from Being Collected, Create Program to Forgive $10B in Healthcare Debts

Account Recovery

A bill has been introduced in the House of Representatives that would establish minimum standards for federal financial eligibility programs, prohibit medical bill interest charges for people who are living below 250% of the federal poverty level and prohibit hospitals from sending debts owed by those individuals to collection agencies, and create a grant program […]

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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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Arrest warrant issued for Insolvent celebrity after Court no show

UK debt collections

An arrest warrant has been issued for Katie Price, after she failed to attend a court hearing relating to her bankruptcies. Insolvency and Companies Court Judge Catherine Burton said Ms Price had received “very clear warnings” that she must attend the hearing on Tuesday. The former glamour model had not responded to HM Revenue & Customs (HMRC) over her debts, a court heard.

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5 Things a Commercial Debt Collection Agency CANNOT Do to Help You

Direct Recovery

Commercial debt collection agencies can be tremendously effective partners for almost any small business that offers credit to their customers. The right debt collection agency can act as your own personal accounts receivable department tasked with tracing down delinquent accounts, contacting debtors, negotiating payments, filing for judgments, and collecting payments.

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Daily Digest – July 31. Judge Grants MTD in FDCPA Class Action Over Language in Letter; Bill Introduced in House to Limit Certain Medical Debts from Being Collected

Account Recovery

Judge Grants MTD in FDCPA Class Action Over Language in Letter Bill Introduced in House to Limit Certain Medical Debts from Being Collected, Create Program to Forgive $10B in Healthcare Debts N.C.

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Do Employers Check Your Credit? A Guide for Applicants

Credit Corp

The hiring process includes several steps, such as submitting an application, attending an interview, and undergoing a background screening. In some cases, a prospective employer may even require a credit check. Find out why employers check your credit and discover how to prepare for this important step in the hiring process. Why Do Employers Check Your Credit?

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20 Companies Seeking Collection Talent

Account Recovery

During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers.

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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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Shopping for Loans from Digital Lenders: A Comprehensive Guide

Credit Corp

In recent years, the rise of digital lenders like SoFi and Ally has transformed the lending landscape, offering borrowers new options for obtaining loans quickly and conveniently. But what sets these digital lenders apart from traditional banks and credit unions? And how can you navigate the process of shopping for a loan with them? In this guide, we’ll explore everything you need to know about securing a loan from digital lenders, including the pros and cons, and key differences compared

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