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I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support. TEC is now extending its services by offering proven, industry-leading technology solutions alongside of our Professional Services to help Clients feel confident in their technology de
A business like yours likely has one goal when hiring a collection agency: to collect money from customers who pay late or have not paid at all. You may also want to work with a collection agency because you do not have the internal resources or the time to chase past-due invoices, and it is time-consuming. But another goal your business should remember is how a collection agency can help you retain your customers.
Maybe it’s a coincidence or maybe it’s a sign of the expected ramp-up in enforcement and attention that state attorneys general are going to be paying to the financial services industry broadly, including companies in credit and collections, but the Attorney General of New York has issued a guide aimed at protecting residents of The Empire State from “predatory” debt collectors.
The debt collection industry is evolving rapidly, driven by advancements in technology, changing consumer expectations, and an increasing need for efficient recovery solutions. With the U.S. debt collection market generating approximately $12.5 billion in revenue in 2023, the industry is expected to continue growing over the next decade. Heres a closer look at the key… The post The Future of Debt Collection: Trends Shaping the Industry first appeared on Optio.
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?
A District Court judge in Michigan has denied a defendant’s motion for judgment on the pleadings in a Fair Debt Collection Practices Act case, ruling that the defendants attempt to impose a 5% interest rate on the debt without clear contractual or legal authorization may constitute a violation of the FDCPA. The background: The lawsuit stems from a rental agreement dispute.
Looking to domesticate a judgment in New York and wondering if its worth the expense? Consider the following: Except for judgments obtained for medical services, New York is extremely liberal when it comes to judgment enforcement. The New York Civil Rules of Civil Procedure allow collection attorneys to execute judgments right away. Most judgment enforcement is done by the collection attorney without leave of court, which leads to quick action.
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Looking to domesticate a judgment in New York and wondering if its worth the expense? Consider the following: Except for judgments obtained for medical services, New York is extremely liberal when it comes to judgment enforcement. The New York Civil Rules of Civil Procedure allow collection attorneys to execute judgments right away. Most judgment enforcement is done by the collection attorney without leave of court, which leads to quick action.
Does being an authorized user affect your credit? Well, under the right circumstances, becoming an authorized user can help you build your credit. Before you agree to be an authorized user or add an authorized user to your account, its important to understand the potential risks and benefits. This article provides more information about how adding an authorized user works and how it could impact your credit.
Short-term disability (STD) overpayment recovery has become a significant concern with the Social Security Administration (SSA) facing challenges in preventing overpayment and recovering overpayments. A… The post Realities of Short-Term Disability Overpayment Recovery appeared first on Brown & Joseph, LLC.
Have you ever felt in over your head with debt? According to a 2024 study, the average level of personal debt, not including mortgages, is over $22,000. Maybe youve been hit with unexpected medical bills or accrued credit card debt over time. If youre struggling to keep up with your monthly payments, you might be considering debt settlement. Negotiating a debt settlement is a strategy where you work with your creditors to pay less than the amount you actually owe.
Getting to Know Angie Erwin of Finvi Judge Denies MJOP in FDCPA Case Over Interest Accrual CFPB Update: A Range of Legal and Political Challenges N.Y. AG Releases Guide to Help Protect Consumers Assets WORTH NOTING: The odds of an asteroid hitting the Earth in 2032 keep increasing. Should we be worried? … Can’t wait for Round Two tonight … How Chipotle plans to use AI to help it hire 20,000 workers … Why wearing reflective clothing may not be as helpful at keeping you saf
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.
The Americans with Disabilities Act (ADA) outlines clear expectations for employers to accommodate individuals with disabilities and avoid discrimination. Understanding and adhering to these requirements is essential for employers to maintain compliance and minimize risk. This blog post explores the general contours of the ADA to provide employers with guidance on how to comply with its provisions.
If it feels like the amount of news related to the future of the Consumer Financial Protection Bureau is like trying to drink from a firehose, you’re not wrong. Between the legal battles, the rhetoric and saber rattling from both sides of the aisle, and the daily developments, there is a lot to process. Here is a summary of what’s happened in the past couple of days.
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