Account Recovery
JULY 29, 2024
A District Court judge in Washington has denied a defendant’s motion for summary judgment and granted the plaintiff’s motion in a Fair Debt Collection Practices Act case revolving around the alleged expiration of a judgment. The Background: The defendant was assigned an account back in 2011.
Consumer Finance
JULY 29, 2024
There’s no question that our economy and society rely on banks just like we rely on our power grid and our transportation network. Congress put in place guardrails to ensure the ownership and control of this critical infrastructure promotes resiliency and is free of conflicts of interest.
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Account Recovery
JULY 29, 2024
I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.
Collections Law
JULY 29, 2024
When it comes to collecting business debt, the most critical steps occur before the goods or services are even purchased. This is when your business establishes control over the commercial relationship. By taking preemptive measures, you can set a solid foundation that will help you get paid, even if a creditor becomes delinquent. Our commercial collections litigation attorneys at Law Offices of Alan M.
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
JULY 29, 2024
The Consumer Financial Protection Bureau (CFPB) on Friday announced that it filed a lawsuit against a company and its former CEO, accusing them of engaging in illegal lending activities.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
JULY 29, 2024
For those who have models or analytics to help them determine whether an individual is likely to repay a debt, have you considered whether sports betting in that state is legal or not? You may, after the results of a research paper that was published.
Consumer Finance
JULY 29, 2024
Industrial banks require special attention from the FDIC Board of Directors given the unique risks they pose.
Account Recovery
JULY 29, 2024
Judge Grants MSJ for Plaintiff in FDCPA Case Over Expired Judgment CFPB Sues Online Lender for Deceiving Consumers Legalized Sports Betting Hurting Consumers’ Financial Health: Study Compliance Digest – July 29 WORTH NOTING: Tips and hacks to help you stay cool without air conditioning … Recommendations from experts about when to get your kid a […]
Taurus Collect
JULY 29, 2024
In today’s challenging economic climate, many businesses face the painful reality of unpaid invoices and debts. This problem can escalate quickly, leading to costly collection efforts that drain resources and time. Fortunately, there’s a solution: no collection no fee debt collection. This approach allows you to focus on running your business while experts handle your debt recovery without upfront costs.
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.
UK debt collections
JULY 29, 2024
Late payments to UK small businesses surged over the last three months, with payments delayed by more than a week on average, according to the latest research by Xero. Payments to small businesses were made 7.3 days late, on average, between April and June. This is an increase of 1.8 days compared to the January and March Quarter, and represents the largest quarterly increase for four years, when pandemic uncertainty prompted a short-term spike.
Taurus Collect
JULY 29, 2024
Managing debt collection fees can be a daunting task for any business. An ineffective credit and collections process not only increases these fees but can also strain relationships with customers. In today’s competitive landscape, it is essential to streamline your approach to ensure timely payments while maintaining a positive image. This blog post will guide you through simple steps to completely overhaul your credit and collections process.
Credit Corp
JULY 29, 2024
Collection accounts are bad for your credit score. These negative marks on your credit report indicate you might not pay your bills on time—or ever, which is why lenders don’t like to see them. Collection accounts can stay on your credit report for up to 7 years. This makes it harder to get approved for credit during that time. Learning how to remove collections from your credit report can help you clean up your credit history and open better financial doors in the future.
Consumer Finance
JULY 29, 2024
The United States recently renewed its special ties with the Federated States of Micronesia, the Republic of the Marshall Islands, and Republic of Palau, collectively the Freely Associated States.
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?
Collections Law
JULY 29, 2024
When it comes to commercial collections, personal guarantees can be a powerful tool. But are they enforceable in Massachusetts? At Law Offices of Alan M. Cohen & Associates LLC, our Massachusetts commercial litigation collections attorneys have more than 50 years of debt collection experience. They employ aggressive, innovative and relentless, but ethical, debt collection strategies to help their business clients get paid.
Consumer Finance
JULY 29, 2024
When a Wall Street bank repeatedly violates the law, the banking agencies impose a fine that typically constitutes a small fraction of the firm's annual profits.
Collection Industry News
JULY 29, 2024
A US bank says more than seven million people are affected by a major hack and data breach that’s impacting multiple financial firms and their customers. A new data breach notice at the Office of the Maine Attorney General shows a total of 7,640,112 customers at Evolve Bank & Trust have had their sensitive data exposed. The data, which is reportedly on the dark web, includes customers’ names, Social Security numbers, bank account numbers, addresses, phone numbers and email addresses.
Consumer Finance
JULY 29, 2024
Regulatory amnesia consistently afflicts the banking agencies. Today, the FDIC Board of Directors is cleaning up the unwise and unlawful mistakes the agency made in 2020 related to a risky type of deposit funding.
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Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.
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