Tue.Jan 28, 2025

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CFPB Finds Servicemembers Pay More in Auto Lending Market

Consumer Finance

The CFPB published a report showing that U.S. servicemembers pay higher costs and face greater financial risks when taking out credit to buy a car.

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Increase Cash Flow with SMS Text Payments and Invoicing

PDC Flow

In todays tightening economy, businesses that put customer experience and digital transformation as their top priorities will not only survive, but grow. This means catering to customers by giving them options they want like text payments. Text billing and other customer-centric tactics (user-friendly workflows, preferred communication channels) boost payments to improve your bottom line among younger customers.

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Consumers Face Growing Financial Strain as Delinquencies Rise

Account Recovery

Consumers are grappling with growing financial challenges as delinquency rates climb and credit card usage continues to rise. According to VantageScores December 2024 CreditGauge report and recent data from the Philadelphia Federal Reserve, consumers are increasingly reliant on credit to manage essential expenses, with signs of financial stress spreading across lower and middle-income households.

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Daily Digest – January 28. Collector Accused of Violating FDCPA Because Account Number in MVN was Different than Number Used by Previous Collector; Balancing AI and Humans in Customer Service Interactions

Account Recovery

Collector Accused of Violating FDCPA Because Account Number in MVN was Different than Number Used by Previous Collector Fourth Circuit Reverses Ruling on Arbitration of SCRA Claims Balancing AI and Humans in Customer Service Interactions Consumers Face Growing Financial Strain as Delinquencies Rise WORTH NOTING: This laundry detergent will eliminate your need for a stain remover … A list of eight simple things you can do to keep yourself from getting scammed … Some healthy alternativ

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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Collector Accused of Violating FDCPA Because Account Number in MVN was Different than Number Used by Previous Collector

Account Recovery

EDITORS NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call (855) WEB-RECON or email admin@webrecon.net today!

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Balancing AI and Humans in Customer Service Interactions

Account Recovery

As adoption of artificial intelligence in customer experience surges, businesses are grappling with balancing efficiency gains from automation and the need for human connection. This debate has become more pressing with high-profile discussions about AI doom loops and regulatory momentum favoring customer rights to human interactions. By the numbers: Driving the news: President Bidens Time is Money initiative, alongside potential EU regulations by 2028, underscores a global push to mandate consu

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