Account Recovery
OCTOBER 6, 2023
A pair of defendants were found guilty yesterday by a federal jury after being accused of wire fraud and conspiracy to commit wire fraud and mail fraud in a scheme where they scammed individuals with a bogus system that purportedly would get their consumer debts, like credit cards, auto loans, and mortgages, discharged without having […]
Credit Corp
OCTOBER 6, 2023
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. The average monthly car payment for new vehicles in the United States is $725, and $516 for used vehicles. New car payments are up 11.5% year-over-year and used car payments are only up 2.2%.
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Account Recovery
OCTOBER 6, 2023
The Consumer Financial Protection Bureau yesterday announced the newest round of appointments to its Consumer Advisory Board, Community Bank Advisory Counsel, Credit Union Advisory Counsel, and Academic Research Council, and once again, the accounts receivable management industry is on the outside looking in.
Credit Corp
OCTOBER 6, 2023
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. The average household credit card debt in America is $9,654, and the states with the largest amount of credit card debt are Alaska, Hawaii, and New Jersey.
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.
Account Recovery
OCTOBER 6, 2023
Another Class-Action Lawsuit Filed Over Wrong Itemization Date in MVN Appeals Court Upholds Reduced Fee Award for Plaintiff’s Attorneys in FDCPA Case CFPB Names New Consumer Advisory Board Pair Found Guilty in Million-Dollar Debt Elimination Scam WORTH NOTING: The more that people exercise means they are likely to be lazier during the day, according to […]
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
OCTOBER 6, 2023
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?
Credit Corp
OCTOBER 6, 2023
A 401(k) is an employer-sponsored retirement plan that allows employees to contribute a portion of each paycheck. Many employers also match a certain amount of employee contributions. Typically, 401(k) plans are tax-deferred, meaning the money you contribute isn’t taxed until you withdraw from your account. Our 401(k) calculator below can help you determine what your 401(k) balance will be when you retire.
Account Recovery
OCTOBER 6, 2023
The Court of Appeals for the Eighth Circuit has upheld a lower court’s ruling in determining how much to award the attorneys who represented a plaintiff in a Fair Debt Collection Practices Act case, agreeing that the amount originally sought by the attorneys was excessive and saying their argument in their appeal was absurd.
Credit Corp
OCTOBER 6, 2023
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. SYNCB/PPC will show up on your credit report if you have a PayPal credit card, and it’s an acronym for Synchrony Bank/PayPal Credit.
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.
Troutman Sanders
OCTOBER 6, 2023
In Moore v. Merchants & Medical Credit Corp., Inc., the plaintiff initiated litigation in state court alleging a violation of the Fair Debt Collection Practices Act (FDCPA) based on the defendant’s use of a letter vendor to send the plaintiff a demand. After removal, the U.S. district court for the Middle District of Pennsylvania found that the plaintiff failed to allege a harm sufficient to confer federal jurisdiction and remanded the case to the original Pennsylvania state court.
CICM
OCTOBER 6, 2023
It is unfortunate that many businesses may face financial or operational difficulties during their journey. These challenges can range from minor issues, such as temporary cash flow problems due to delayed payments from creditors to more severe problems that can threaten the company’s solvency. At its core, insolvency refers to a financial state in which an individual, business, or entity cannot meet its financial obligations and liabilities as they become due.
Collection Industry News
OCTOBER 6, 2023
President Joe Biden announced Wednesday that he approved $9 billion in student loan forgiveness for 125,000 Americans. The relief is a result of his administration’s fixes to a number of programs, including the income-driven repayment plans and Public Service Loan Forgiveness. More than $5 billion of the aid will go to 53,000 borrowers who’ve worked in public service for a decade or more; $2.8 billion of the forgiveness is for 51,000 borrowers enrolled in income-driven repayment plans; and anoth
NACM
OCTOBER 6, 2023
?️ On today's episode of NACM's Extra Credit podcast … The Credit Managers' Index (CMI) gained 1.8 points to 52.6 in September. The improvement is welcome, but the CMI appears stuck on the precipice of a recession in business activity, said NACM Economist Amy Crews Cutts, Ph.D., CBE. ⭐️ Also hear from Cathy Klein and Gary Juliano abo.
Speaker: Genevieve Hancock, CPA
Cash flow isn’t just about balancing numbers - it's about ensuring your organization is positioned for both immediate stability and long-term success. Understanding that cash flow management fuels every decision, every opportunity, and every growth phase is critical. But how can you shift from simply managing cash to strategically optimizing it for resilience?
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