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A District Court judge in Oklahoma has dismissed the class-action component of a Fair Debt Collection Practices Act lawsuit, while also dismissing some of the claims, after the defendant was accused of not sending a collection lawsuit summons to the plaintiff’s correct address, which it allegedly had. The background: The case started when the defendant, a collection law firm, filed a lawsuit against the plaintiff to collect an alleged debt.
Properly naming a non-paying client is of the utmost importance in New York debt collection. Failing to properly name the defendant can jeopardize your entire case. Here’s why it’s so important to properly name your non-paying customer — and how to do so. Assume your company had an agreement with John Smith, LLC to provide services for Mr. Smith, and you dealt personally with John Smith.
Large language models (LLMs) like ChatGPT are reshaping consumer interactions across industries. The credit and collection sector could be next. Why it matters: As collection agencies, debt buyers, fintechs, banks, and credit unions seek to improve consumer engagement, LLMs offer a potential solution for more natural and effective communication. Driving the news: Researchers at Purdue University have found that integrating AI-powered chatbots into autonomous vehicles (AVs) improves passenger-veh
NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. You can view it here. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. However, in a small number of credit businesses, the right strategies for systems and people have not been set.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
The Receivables Management industry mourns the loss of a true visionary, Larry Vasbinder, founder of Second Round, who passed away unexpectedly this past weekend after post-surgical complications. Larry’s legacy is one of innovation, resourcefulness and an unwavering commitment to improving the consumer experience. His absence is deeply felt. Starting his career in public accounting in 1990, Larry became a Certified Public Accountant and joined the tax department of KPMG Peat Marwick, furthering
New research by Direct Line has found that the average self-employed tradesperson is chasing £6,000 in late payments. The data has shown that 81 per cent of tradespeople are chasing late payments , with the average tradesperson chasing seven outstanding invoices A fifth (22 per cent) of tradespeople say pursuing late payments is taking time away from work whilst almost one in ten (eight per cent) tradespeople have been forced to write off an invoice of over £10,000 Half of tradespeople say they
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New research by Direct Line has found that the average self-employed tradesperson is chasing £6,000 in late payments. The data has shown that 81 per cent of tradespeople are chasing late payments , with the average tradesperson chasing seven outstanding invoices A fifth (22 per cent) of tradespeople say pursuing late payments is taking time away from work whilst almost one in ten (eight per cent) tradespeople have been forced to write off an invoice of over £10,000 Half of tradespeople say they
The Consumer Financial Protection Bureau yesterday announced that it has banned the private arbitration company, Ejudicate, from arbitrating disputes involving consumer financial products. The announcement comes after Ejudicate was found to have misled student borrowers and initiated arbitration proceedings without consent, raising concerns for those in the debt collection industry, particularly those collecting on unpaid student loans.
NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. You can view it here. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. However, in a small number of credit businesses, the right strategies for systems and people have not been set.
Plaintiff’s Attorney, Collection Operations, Facing FDCPA Class Action Over Unpaid Invoice Oklahoma District Court Judge Dismisses Class-Action Component of FDCPA Suit CFPB Bans Ejudicate from Arbitrating Financial Disputes After Engaging in Deceptive Practices How Large Language Models Can Revolutionize Consumer Engagement in Collections Remembering Larry Vasbinder: A Visionary in the Receivables Management Industry WORTH NOTING: The country is experiencing its worst whooping cough outbreak in
EDITOR’S 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!
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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