Account Recovery
OCTOBER 23, 2024
The Department of Education is making its student loan collection on-ramp a little longer, announcing that it will start reporting late or missed student loan payments to credit bureaus in early 2025, a delay from the originally planned start date this month. This pushes the start of mandatory collections “and other consequences” as the department put it, into late 2025 at the earliest.
UK debt collections
OCTOBER 23, 2024
The value of bad debt suffered by small businesses has surged by a staggering 127 per cent in the last six months, according to a report by SME funder, Bibby Financial Services (BFS). According to the latest SME Confidence Tracker from Bibby, businesses have written-off an average of nearly £40,000 in unpaid invoices in the last 12 months, up from an average of £17,500 in the spring.
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Account Recovery
OCTOBER 23, 2024
If you’re like me, you have copied and pasted the wrong information into an email or document more times than you can count. The defendant in a Fair Debt Collection Practices Act case finds itself lucky after a Magistrate Court judge in California ruled that inadvertently copying and pasting the request for an admission as its response does not satisfy the numerosity requirement of certifying a class action and denied the plaintiff’s motion for certification.
Consumer Finance
OCTOBER 23, 2024
The Consumer Financial Protection Bureau (CFPB) issued guidance to protect workers from unchecked digital tracking and opaque decision-making systems.
Speaker: Anna Tiomina, MBA
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?
Account Recovery
OCTOBER 23, 2024
Judge Denies Motion to Certify Class in FDCPA Case Over Missing Disclosure in Email Ed. Dept. Delays Start of Student Loan Collections Until 2025 CFPB Announces Open Banking Rule as Banking Industry Retaliates with Lawsuit 24 Companies Seeking Collection Talent WORTH NOTING: If you were look for a list of the best dishwasher detergents, look no more … “Sleep divorces” are now infiltrating couples’ vacations … More credit card companies are beginning to charge if you
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
OCTOBER 23, 2024
During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers. This is merely meant to be a service to aggregate industry job opportunities into one convenient location.
Collections Law
OCTOBER 23, 2024
Unpaid debts are frustrating for business owners, but they are also a regular part of doing business. Successfully collecting on these commercial debts can directly influence your overall success as a business. Obtaining a judgment is just the beginning of the commercial collections journey. The real challenge lies in enforcing that judgment and getting paid.
Account Recovery
OCTOBER 23, 2024
The Consumer Financial Protection Bureau yesterday announced the final rule aimed at giving consumers more control over their personal financial data. The rule, part of the CFPB’s broader push toward “open banking,” requires financial institutions to allow consumers to transfer their data to other providers for free. The rule aims to spur competition, lower costs, and improve services across the banking, credit, and payments markets.
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