UK debt collections
MARCH 16, 2022
It will come as no shock that the main objective of any business is to make more money than it loses. Staying in the black is essential for the longevity of business but there are times when debt can be the best option. Businesses using debt as a means to acquire additional assets is nothing new yet recent data revealed that 52% of UK businesses are now being crippled by toxic debts.
FFGN COLLECT NY
MARCH 31, 2022
Some creditors voluntarily decide to participate in mediation for debt collection. For others, mediation may be mandatory based on the terms of the underlying agreement between the parties or ordered by the court. As such, it’s important to understand how non-binding mediation can affect your overall debt collection case. One of the most important aspects of debt collection is maximizing a client’s return on investment.
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Roths Child Law
MARCH 11, 2022
A bankruptcy can be a good way to get your financial health back on track, but it also comes with some limitations. It may make it so it’s harder for you to get credit or loans in the future, at least for a few years. If you do need a personal loan after your Chapter 7 or Chapter 13 bankruptcy, it may be possible to get it. The length of time it will take for you to get a loan will depend on the kind of bankruptcy you chose as well as how long it has been since you went through it.
Account Recovery
MARCH 31, 2022
The “Getting to Know” series is sponsored by Applied Innovation. Applied Innovation is helping to shape the future of accounts receivable management. Product development is driven by customer feedback, agency profitability and compliance and includes platforms addressing client portal access, document management, payment negotiation, Regulation E focused electronic payment authorizations and TCPA communication authorization platforms. … The post Getting to Know Amber Russo of K
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.
American Profit Recovery
MARCH 2, 2022
Before sending any customer to a debt collection agency, it’s important for a business of any size to conduct its due diligence to try and resolve that matter. Having an established relationship with a reputable collection agency is an important part of your overall accounts receivable program. But it is critical for your business to understand how a customer got to the point of collection activity before implementation.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Consumer Finance
MARCH 28, 2022
Prepared remarks of Rohit Chopra at the University of Pennsylvania Law School.
Nerd Wallet
MARCH 7, 2022
Traditionally, the spring months herald the beginning of homebuying season. But major shifts in the housing market disrupted seasonal patterns in 2020 and 2021, and the changes may be long-lasting. Here’s what’s different, as well as approaches that buyers and sellers can take in what’s become a year-round homebuying season. Why spring was historically the.
Nexa Collect
MARCH 26, 2022
The first step in shortlisting a collection agency is to ask them to submit a Request-For-Proposal (RFP) so that you can pick the best collection agency at the best price. Here are the most important points to include in your RFP questionnaire. Is your collection agency nationally licensed or not? (If not, which all states are you licensed in?). What services do you offer – Check all those which apply (Collection Letters, Collection Calls, and Legal)?
Account Recovery
MARCH 31, 2022
The Court of Appeals for the Ninth Circuit has upheld the dismissal of a Fair Debt Collection Practices Act case in which a defendant was accused of violating the statute by garnishing the plaintiff’s wages to enforce a nonfinal judgment, ruling that alleging a violation of Washington’s state garnishment law is not a de facto … The post Appeals Court Upholds Dismissal of FDCPA Suit Over Garnishment appeared first on AccountsRecovery.net.
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.
American Profit Recovery
MARCH 4, 2022
Did you ever wonder why your customers are not paying you on time? It’s one of the more frustrating aspects of running any size business. Customers contact your business, you provide the service that you promised and then in some cases, you’re left to chase that customer for the money they owe you. And because you have other customers to serve, and a whole host of other obligations to run your business adequately, you and your staff now must expend time and other resources to get tha
Enterprise Recovery
MARCH 4, 2022
Unfortunately, many of us learn from hard lessons about money in adulthood. When you run a business, there are more hard lessons to learn, often at a high cost to your success. Certain expectations can actually be harmful to your business's cash flow. Take a look at these assumptions to see if you need to re-examine your thoughts around money and your business.
Consumer Finance
MARCH 30, 2022
The Consumer Financial Protection Bureau (CFPB) today sanctioned Edfinancial Services, a student-loan servicer, for making deceptive statements to student loan borrowers and misrepresenting their forgiveness and repayment options to them.
Nerd Wallet
MARCH 16, 2022
What the Federal Reserve did and why The Federal Reserve raised a bedrock interest rate on Wednesday. As a result, mortgage interest rates probably will go up, and rates on home equity lines of credit certainly will. The Fed raised its target for the federal funds rate by 0.25%, or one-quarter of a percentage point. Holden Lewis writes for NerdWallet.
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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.
Nexa Collect
MARCH 22, 2022
By law, all debt collectors are required to provide at least 30 days to the debtor/consumer to dispute the debt, after the consumer receives (or is assumed to receive) the validation information. Most collection agencies will add about additional 2 weeks to account for mailing delays and holidays. This format is located here: CFPB Debt Collection Validation Notice R19 ( as of Nov 2021).
Account Recovery
MARCH 28, 2022
A District Court judge in New York has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case in which a collection letter included multiple addresses for the defendant, allegedly confusing the plaintiff to the point where he felt his only option was to hand the letter over to his … The post Judge Grants MSJ in FDCPA Case Over Multiple Addresses on Payment Coupon appeared first on AccountsRecovery.net.
American Profit Recovery
MARCH 1, 2022
By Brian: It’s a satisfying feeling knowing that we can continue to help support small businesses and help consumers throughout the year regardless of what is happening across the country. It’s what we have always done since opening our doors. We have assisted consumers during events throughout the years such as recession and natural disasters that had a negative effect on the economy as well as during economic booms that had a positive effect, pulling together to help those in need.
Enterprise Recovery
MARCH 21, 2022
Getting frustrated or writing off client invoices isn't going to get them paid. An unresolved problem remains unresolved unless you do something about it. When a client agrees to pay for goods or services that your business is offering, it is well within your rights to request that they pay you. If you're unsure what to say, use this sample template to remind clients to pay your business.
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
MARCH 21, 2022
Today, the Consumer Financial Protection Bureau (CFPB) issued policy guidance regarding potentially illegal practices related to consumer reviews. The CFPB seeks to ensure that customers can write reviews, particularly ones posted online, about financial products and services that accurately reflect their opinions and experiences.
Nerd Wallet
MARCH 31, 2022
Cryptocurrencies are not traded on Wall Street in the same way stocks are. Still, several publicly traded companies are deeply tied to the world of cryptocurrency or other digital assets. Cryptocurrency stocks are shares in those companies — typically businesses that operate crypto exchanges, invest in cryptocurrencies themselves or create computer equipment used to mine.
Public Citizen
MARCH 7, 2022
by Paul Alan Levy. This is a sad tale of hypocrisy on the part of a group whose litigation over the past eighty-five years has set many of our most important First Amendment precedents. But over the past four to five years, the Watch Tower Bible and Tract Society, popularly known as the Jehovah’s Witnesses, has been abusing judicial process to suppress commentary, mostly criticism, by obtaining subpoenas under the Digital Millennium Copyright Act to out its critics by invoking claims of question
Account Recovery
MARCH 30, 2022
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 … The post 24 Companies Seeking Collection Talent appeared first on AccountsRecovery.net.
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Are you finding some snags in your collections process? With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.
American Profit Recovery
MARCH 4, 2022
National Consumer Protection Week in 2022 is March 6-12 and is meant to educate everyone about how to improve finances, avoid scams and fraud as well as educate consumers about their rights. This is a program established by the Federal Trade Commission and one that we fully embrace. Everyone here at American Profit Recovery understands that as a collection agency we need to be as transparent as possible.
Enterprise Recovery
MARCH 28, 2022
If you're stalling on the idea of following up on past due invoices, don't fret. Sometimes it takes a little research to move forward on something that's uncomfortable or unfamiliar. We've pulled together some reasons why you might be hesitant and how to move past those obstacles. Here are some pros and cons of sending your clients to collections.
Consumer Finance
MARCH 15, 2022
Today the Consumer Financial Protection Bureau (CFPB) announced changes to its supervisory operations to better protect families and communities from illegal discrimination, including in situations where fair lending laws may not apply.
Nerd Wallet
MARCH 1, 2022
The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. The Federal Deposit Insurance Corp. insures up to $250,000 per depositor, per institution and per ownership category at member.
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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.
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