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.
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.
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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.
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.
Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius
4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor
Account Recovery
JULY 9, 2024
A bill has been introduced in the House of Representatives that would amend the Fair Labor Standards Act by providing mandated restroom and medical breaks as well as meal breaks. H.R. 8911, the Worker Rights and Support Act, was introduced by Rep. Bonnie Watson Coleman [D-N.J.].
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
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.
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.
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.
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.
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.
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?
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.
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.
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.
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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.
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?
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.
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