Consumer Finance

JULY 9, 2024

The CFPB proposed new rules to make it easier for homeowners to get help when they are struggling to pay their mortgage.

Foreclosure 139

Foreclosure 139

Account Recovery

JULY 9, 2024

A District Court judge in New Jersey has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case after it was sued for sending a debt verification letter to a consumer who had refused to pay a debt and demanded the defendant cease communication with him.

Fair Debt Collection 130

Fair Debt Collection Collections 130

Credit Corp

JULY 9, 2024

A bankruptcy can remain on your credit report for up to ten years from the filing date of Chapter 7 bankruptcy or up to seven years from the filing date of Chapter 13 bankruptcy. However, its impact on your credit score lessens over time as you rebuild your credit with responsible financial behavior. While bankruptcy may be a last resort, there are times where filing bankruptcy might make sense.

Bankruptcy 98

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Creditors 98

Account Recovery

JULY 9, 2024

New Jersey is set to become the latest state to enact a law prohibiting the reporting of medical debt on consumers’ credit reports as part of a broader package of steps that Gov. Phil Murphy has been seeking for more than two years.

Healthcare 130

Healthcare 130

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?

True Accord

JULY 9, 2024

The dog days of summer are ahead, and with inflation and high interest rates still sticking around, consumers in the U.S. will be feeling the heat financially. Consumer sentiment and data-based indicators tell some of the story, but what better way to gauge the consumer financial landscape than by looking at how people spend their free time and money?

Student loans 96

Student loans Student Loans Banks Lender 96

Consumer Finance

JULY 9, 2024

La CFPB propone nueva normativa para facilitarles a los propietarios de viviendas recibir asistencia, cuando tengan dificultades para pagar sus hipotecas.

Foreclosure 73

Foreclosure 73

Account Recovery

JULY 9, 2024

Collector Facing FDCPA Class Action for Allegedly Not Providing Full 30 Days to Dispute Debt Judge Grants MTD in FDCPA Case Over Sending Verification Letter After Receiving Cease Communication Request N.J.

130

130

Credit Corp

JULY 9, 2024

A car repossession can significantly damage your credit score, potentially causing a drop of up to 100 points or more depending on your overall credit history. It remains on your credit report for up to seven years, impacting your ability to secure favorable financing terms in the future. A vehicle is one of the most important assets you can have, especially if you live in a city without a robust public transportation system.

Repossession 59

Repossession Lender Collateral Loans 59

Account Recovery

JULY 9, 2024

Frost Echols (FE), a leading industry defense and compliance law firm, is very pleased to announce the addition of Shelly Gensmer-Cleek. Shelly joins FE with several years of industry experience working on behalf of accounts receivable management companies.

Accounts Receivables Management 130

Accounts Receivables Management Law Firms 130

Speaker: Melissa Hurrington

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.

On Guard

JULY 9, 2024

Download the fintech baropaper Organisations, according to finance professionals, prefer to get paid via iDEAL (33%). Among their customers, iDEAL is also the favourite payment method (36%). This is according to the FinTech Barometer, the annual survey by credit management software specialist Onguard, for which 304 CFOs, finance managers and finance professionals were surveyed.

Credit Management 52

Credit Management 52

Account Recovery

JULY 9, 2024

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?

130

130

Credit Corp

JULY 9, 2024

Ignoring student loans can damage your credit score, lead to wage garnishment, and accrue interest and fees. It may also result in legal action, tax refund offsets, and impact co-signers, making it crucial to address repayment issues promptly with your loan servicer. Student loan debt in the United States stands at $1.727 trillion as of 2023. The repayment process may seem overwhelming if you’re among the more than 43 million borrowers with outstanding student loan debt.

Student loans 52

Student loans Student Loans Loans Accrued Interest 52

The Kaplan Group

JULY 9, 2024

Office loan defaults pose a high risk for major US financial districts, potentially signaling impending issues for large cities. A new study by The Kaplan Group analyzed office building data in key US financial districts to determine which are most at risk of a large number of loan defaults or even geo-centric office firesales. Districts at the most risk could predict which cities are at large risk of a firesale, but also which could likely repurpose their financial districts.

Foreclosure 52

Foreclosure Bankruptcy Loans Financial services 52

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

Collections

On Guard

JULY 9, 2024

Download the fintech baropaper Manual debtor management a reality for two in ten finance professionals Two in ten finance professionals (18%) do not use debtor management tools. This is according to the FinTech Barometer, the annual survey by credit management software specialist Onguard, for which 304 CFOs, finance managers and finance staff were surveyed.

Credit Management 52

Credit Management Debtor Accounts Receivables Management Collection Agencies 52

Collection Industry News

JULY 9, 2024

On July 24, 2024, the CFPB issued a circular detailing how companies may be breaking the law by requiring employees to sign broad nondisclosure agreements that could deter whistleblowing. Under Section 1057(a) of the Dodd-Frank Act, covered persons are prohibited from terminating or otherwise discriminating against covered employees for engaging in whistleblowing activity.

Government 40

Government Trade Collections 40