True Accord

AUGUST 24, 2022

Buy Now, Pay Later (BNPL) plans have taken over as a popular financing option for consumers, partly due to an increase in online shopping demands during the pandemic. In 2021, Americans spent more than $20 billion through BNPL services , taking up a bigger part of the $870 billion-a-year online shopping market. From laptops and airline flights to clothing and furniture, BNPLs make it simple to pay for almost anything in small installments.

Credit Card Debt 84

Credit Card Debt Retail Debt Recovery Collections 84

NCBA Law Practice Management Blog

AUGUST 18, 2022

Law firms only answer 1 of 3 phones call they receive, on average. Couple that with the fact that 64% of law firm voicemails are not returned, and there isn’t much ‘ service ’ left in law firm ‘customer service’. The good news is that this is all fixable. And, it’s merely a matter of how you might array a number of call - answering options. Although lawyers can pick up phones on their own (delighting leads and clients in doing so), that can be a difficult thing for solo and small law firms to do

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Law Firms Lawyers Creditors 52

Nerd Wallet

AUGUST 29, 2022

Your bank plays a role in climate change through its lending and other actions. But is your bank making a positive environmental impact? It can be hard to know. Through their messaging, banks sometimes paint a greener picture of their impact on the climate than what their holdings or other factors indicate, a process known. Spencer Tierney writes for NerdWallet.

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Banks 141

Account Recovery

AUGUST 29, 2022

JUDGE SANCTIONS PLAINTIFF’S ATTORNEY FOR PROLONGING LITIGATION The attorney sought a “windfall” by engaging in conduct he later described as “petty.”The judge granted the defendant’s motion for attorneys’ fees and costs, ruling that the plaintiff’s attorney prolonged the case for “several months.” CONNECTICUT REGULATOR REVOKES LICENSE, FINES AGENCY $100K Not answering your mail is an … The post Daily Digest – August 29.

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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.

Enterprise Recovery

AUGUST 5, 2022

Being a leader in a tough economy means staying positive, no matter what. Inspiration can be hard to come by, but it's necessary to motivate those around you. Allow these quotes to encourage you to push past the tough times and create a wave of possibility. Here are 10 of the Best B2B Leadership Quotes to keep you motivated.

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Consumer Finance

AUGUST 10, 2022

The Consumer Financial Protection Bureau (CFPB) confirmed in a circular published today that financial companies may violate federal consumer financial protection law when they fail to safeguard consumer data. The circular provides guidance to consumer protection enforcers, including examples of when firms can be held liable for lax data security protocols.

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Sawin & Shea

AUGUST 24, 2022

Declaring bankruptcy can be incredibly daunting, but sometimes it’s the best option for moving forward to financial freedom. This is especially the case if you’re behind on your mortgage payments. Although sometimes borrowers can receive a forbearance or work out a repayment plan with their lenders, many are unable to reach this agreement, meaning they’re at risk of losing their homes.

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Chapter 13 bankruptcy Foreclosure Chapter 7 bankruptcy Bankruptcy 105

Nerd Wallet

AUGUST 17, 2022

Rising prices (i.e., inflation) are everywhere you look — on the news, at the pump and in the grocery store. We notice these changes when we reach for our wallets, but it’s difficult to grasp what an extra dollar here or several dollars there mean over the course of several weeks, months or an entire. Elizabeth Renter writes for NerdWallet. Email: elizabeth@nerdwallet.com.

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Account Recovery

AUGUST 30, 2022

MOUNTAIN VIEW, Calif., Aug. 29, 2022 /PRNewswire/ — Prodigal, a pioneer in Consumer Finance Intelligence, and Finvi, a premier provider of workflow and payments solutions that streamline and accelerate revenue recovery in the accounts receivable management (ARM), healthcare, and government markets, today announced their partnership. The newly forged partnership couples Finvi’s workflow and intelligence solutions with the … The post Finvi Partners with Prodigal to Deliver Conver

Healthcare 49

Healthcare Accounts Receivables Management Government 49

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.

Banks

Enterprise Recovery

AUGUST 12, 2022

If you're asking the question, you're likely dealing with a scenario of non-payment from a client and would like to avoid litigation. Simply put, a demand letter (or more than one!) is sent to your clients to inform them of your intention to collect what is owed to you. The letters are typically sent in conjunction with other first-party collection efforts before escalating the account.

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Collections 197

True Accord

AUGUST 9, 2022

The financial landscape for both consumers and businesses is particularly uncertain right now. Many new fintechs and neobanks are experiencing their first delinquency surge and others soon to follow. This year, the challenges of managing delinquencies and navigating an uncertain economy will compound, making it imperative for companies to critically think about their strategy to collect from consumers in debt.

Consumer Credit 103

Consumer Credit Financial services Banks Collections 103

Consumer Finance

AUGUST 9, 2022

Today, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule laying out when digital marketing providers for financial firms must comply with federal consumer financial protection law.

Financial services 110

Financial services 110

Sawin & Shea

AUGUST 17, 2022

There are two primary types of bankruptcies that a person might file when struggling to pay their debts: Chapter 7 and Chapter 13. In a Chapter 13 bankruptcy , the debtor agrees to a payment plan instead of having their property taken to pay creditors. In contrast, in a Chapter 7 bankruptcy , the bankruptcy trustee will often use property to help pay off creditors before the remaining debt gets discharged.

Bankruptcy 105

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Debtor 105

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Collection Agencies

Nerd Wallet

AUGUST 24, 2022

After months of rumor and speculation, President Joe Biden announced the details on a broad vision for student loan debt repayment and debt cancellation on Wednesday. Through an executive order, federal student loan borrowers who meet income requirements will see $10,000 in debt canceled. If the borrower received a Pell Grant to attend school, the. Anna Helhoski writes for NerdWallet.

Student Loans 137

Student Loans Student loans Loans 137

Account Recovery

AUGUST 26, 2022

The Court of Appeals for the Third Circuit has reversed a lower court’s dismissal of a Fair Credit Reporting Act lawsuit, ruling that the federal government does not have sovereign immunity from the statute’s civil liability provisions, widening a split at the Appellate level that seems destined to be resolved by the Supreme Court. A … The post Appeals Court Rules Gov’t Liable for FCRA Violations appeared first on AccountsRecovery.net.

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Government 246

Enterprise Recovery

AUGUST 19, 2022

As a business owner or accounts receivable specialist, you may have some fear around sending an account to a debt collections company. For one thing, you're entrusting a third party with your client relationship and your money and facing potentially unexpected costs. You may also have heard some really bad things about debt collections. Enterprise Collections LLC has been helping our clients recover debts for years, and we're happy to answer questions and ease any uncertainty.

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Collections Collection Companies Collection Agencies Collections Agency 185

Collect More

AUGUST 23, 2022

First up today we have our gold medal winner, undefeated and the best by far- ladies and gentleman give it up for: The Telephone! The phone is your best friend folks. The single best way to get paid is by picking it up, calling your customer and asking for your money. Seems so simple I know but you would be shocked at how many people are scared of the phone.

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Speaker: Erika R. Bales, Esq.

When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.

Consumer Finance

AUGUST 9, 2022

The Consumer Financial Protection Bureau (CFPB) is taking action against Hello Digit, LLC, a financial technology company that used a faulty algorithm that caused overdrafts and overdraft penalties for customers. Hello Digit was meant to save people money, but instead the company falsely guaranteed no overdrafts with its product, broke its promises to make amends on its mistakes, and pocketed a portion of the interest that should have gone to consumers.

Banks 101

Banks 101

Sawin & Shea

AUGUST 2, 2022

No matter who you are, bankruptcy can be an incredibly stressful process—but it doesn’t have to be. We understand what it’s like to be drowning in your finances and are here to help. One question we get a lot from many of our clients when they are filing for bankruptcy or have already filed is, “Can I convert Chapter 13 to Chapter 7?” . Unfortunately, there is no one answer to this question, as it can vary on a case-by-case basis.

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Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Creditors 105

Nerd Wallet

AUGUST 29, 2022

Hundreds of thousands of borrowers made payments on their federal student loans since forbearance began in March 2020, taking advantage of the opportunity to pay down their balances. Now that the White House has announced plans to cancel up to $20,000 in student loan debt, some of those borrowers may be wondering how to get. Cecilia Clark writes for NerdWallet.

Student Loans 132

Student Loans Student loans Loans 132

Account Recovery

AUGUST 25, 2022

The Arizona Supreme Court yesterday unanimously rejected an appeal from an industry group seeking to prevent a question from being added to the ballot in the upcoming November elections that would give voters the opportunity to raise the limits on what can be shielded from wage garnishments while also lowering the judgment interest rate, ending … The post Ariz.

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Garnishment Judgment Healthcare 246

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Collections

Fico Collections

AUGUST 29, 2022

Home. Blog. FICO. Average U.S. FICO® Score Stays Steady at 716, as Missed Payments and Consumer Debt Rises. Each year, we provide insight into the national average FICO ® Score to help ensure consumers have a baseline measure of credit health standing. by Ethan Dornhelm. expand_less Back To Top. Tue, 08/30/2022 - 12:00. As the independent standard in credit scoring, FICO® Scores are the leading credit scores used extensively across the lending ecosystem ranging from originations, underwriting an

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Credit Bureau Government Lender Loans 98

Collect More

AUGUST 14, 2022

When chasing payment, there are generally 5 contact methods used. They are: – The phone. – Personal visit. – SMS. – Letter. – Email. These are the big 5 and whilst there are others like Facebook messaging etc, you will almost always use one or a combination of these. Whilst doing nothing could still you get paid, you’re relying on someone else to remember to do something, so it’s never recommended.

Collections 100

Collections 100

Prosperity Now

AUGUST 16, 2022

Over the past couple of years, especially during the COVID-19 pandemic, the connections between health and wealth have become more

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Sawin & Shea

AUGUST 31, 2022

Most people have noticed that when one thing goes wrong, several other things invariably follow. There’s even a common expression describing the experience: “When it rains, it pours.” Unfortunately, medical debt is no exception. It can easily precipitate a resulting series of unfortunate events, one of them (ironically) being poor health. This is more than perception; it is a documented phenomenon, explored most recently in a 2021 research study from The Sycamore Institute.

Chapter 13 bankruptcy 98

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 98

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For finance teams using Salesforce’s powerful CRM technology, automation can transform accounts receivable processes, driving efficiency and delivering measurable results like cost savings, reduced customer churn, and lower DSO.

Collections