Tue.Nov 14, 2023

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8 reasons why businesses rely on debt collection agencies

American Profit Recovery

The debt collection industry is a vital part of the US economy. And for many businesses, it is a critical part of the overall accounts receivables process. Many small businesses and larger organizations rely on the expertise and efforts of third-party collection agencies every day. And for good reason. Collection agencies are recovering substantial amounts of consumer debt and helping those businesses drastically improve much needed cash flow.

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More Individuals Facing Healthcare Affordability Issues

Account Recovery

Healthcare affordability is beginning to impact not just those without health insurance or those who don’t make a lot of money. These days, more than one-quarter of non-senior adults are living with severe healthcare affordability issues, such as high out-of-pocket cost burden, medical debt, or forgone medical care, according to a recently published study.

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CFPB Fines Repeat Offender Enova $15 Million for Violating Order, Deceiving Customers, and Withdrawing Funds Without Consent

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today ordered online lender Enova International Inc. to pay a $15 million penalty for widespread illegal conduct including withdrawing funds from customers’ bank accounts without their permission, making deceptive statements about loans, and cancelling loan extensions.

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Daily Digest – November 14. Suit Accuses Collector of Using Confusing Language in Text, Collecting on Uncollectible Debt; Calif. Appeals Court Dismisses Case Over Motion to Compel Arbitration

Account Recovery

Suit Accuses Collector of Using Confusing Language in Text, Collecting on Uncollectible Debt Calif.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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Learn How to Set Up ACH Payments and Boost Your Business Now

PDC Flow

ACH payments are cost-effective, easy to use, and offer customers more flexibility and choice. If businesses like using ACH for all of these reasons, why put off implementation? Some companies simply don’t know how to set up ACH payments. Don’t let setup be a barrier. Make payments more convenient for you and the customers you serve. Why Setting up ACH Payments is Good for Business Before understanding how to set up ACH payments, it’s important to understand the benefits they bring to your busin

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Federal Agencies Announce Increased Regulations Z and M Dollar Thresholds for Exempt Consumer Credit and Lease Transactions, and Higher Threshold for Exemption from Mortgage Loan Appraisal Requirements

Troutman Sanders

On November 13, the Consumer Financial Protection Bureau (CFPB) and the Federal Reserve Board (Fed) announced increased dollar thresholds used to determine whether certain consumer credit and lease transactions in 2024 are exempt from Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing). Specifically, based on the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), Regulation Z and Regulation M generally will apply to consume

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Calif. Appeals Court Dismisses Case Over Motion to Compel Arbitration

Account Recovery

The California Court of Appeals has dismissed an appeal filed by a plaintiff who sued a creditor that purchased a debt, its attorney, and the law firm that was used to collect on the debt claiming that they violated state and federal laws because the right to compel arbitration was not transferred to those entities […]

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Arizona Federal District Court Holds MMS’s Are Not Prerecorded Messages Under the TCPA Unless They Play Automatically

Troutman Sanders

A district court in the District of Arizona granted a motion to dismiss in a Telephone Consumer Protection Act (TCPA) case on the basis that multimedia messaging service (MMS) texts do not constitute prerecorded messages unless the audible component plays automatically upon opening. In Howard v. Republican National Committee , the plaintiff alleged that defendant sent an MMS text to his cell phone that included a “video file that was automatically downloaded to [the plaintiff’s] phone.

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Collector Facing TCPA Class Action Over Prerecorded Messages Left on Reassigned Number’s Voicemail

Account Recovery

DISCLAIMER: This article is based on a complaint. The defendant has not responded to the complaint to present its side of the case. The claims mentioned are accusations and should be considered as such until and unless proven otherwise.

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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.