Enterprise Recovery

JUNE 22, 2023

When it comes to dealing with B2B clients, it's important to approach any potentially negative situation with a proactive mindset. When you understand why clients may ask for more than your agreement, you can better anticipate and prepare for potential roadblocks. Whether it's negotiating with clients to find a mutually beneficial solution or knowing when it's time to end the relationship, there are strategies you can use to ensure a successful project outcome.

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Account Recovery

JUNE 13, 2023

In what many in the accounts receivable management industry fear is a nightmare scenario, plaintiffs who lose cases in federal court, especially if found not to have standing to sue, then turn and file the exact same case in state court, hoping the threshold to have standing is lower and therefore making it more likely […]

Accounts Receivables Management 246

Accounts Receivables Management Financial services 246

American Profit Recovery

JUNE 23, 2023

We speak to business owners and other decision-makers all the time when it comes to debt collections and there is one question they ask repeatedly. Are there any warning signs a customer is not going to pay? And the answer is a definitive yes! There are unquestionably signs that a customer is not going to pay and we have assembled these below. And while that is not always the case, our experts have found these are the more apparent signs of a customer not paying you in the future.

Collection Agencies 157

Collection Agencies Collections Agency Collections 157

Consumer Finance

JUNE 26, 2023

CFPB issues order against payment processor ACI Worldwide Corp. and its subsidiary ACI Payments Inc. (ACI) improperly initiating approximately $2.3 billion in unlawful mortgage payment transactions. This is the CFPB’s first action addressing unlawful data handling practices in processing mortgage payments.

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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.

Nexa Collect

JUNE 21, 2023

Debt collection agencies are subject to various data security rules and regulations to protect consumer information. I will outline some general principles and specific regulations in the United States. Remember that there might be additional state or local regulations, and laws can change over time. Fair Debt Collection Practices Act (FDCPA) : While primarily focused on the practices and behaviors of debt collectors, the FDCPA also contains provisions that protect consumers’ personal info

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Collection Agencies Collections Agency Collections Financial Institution 130

Enterprise Recovery

JUNE 30, 2023

Nobody likes asking for money - least of all when your clients aren't paying their invoices promptly. Business-to-business debt collections could also impact your relationships with current and potential clients. It's crucial to keep things professional, even when they feel personal, and the missed payments are affecting your bottom line. Use these tips to protect your business reputation during B2B debt collections.

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Collections 181

Account Recovery

JUNE 7, 2023

The parent company of Lexington Law, which filed for bankruptcy protection earlier this week, is planning to auction off its assets and has laid off more than 75% of its employees, according to published reports.

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Bankruptcy Loans 246

American Profit Recovery

JUNE 2, 2023

By Michael: To be successful at American Profit Recovery, you must have integrity, a positive attitude, and a strong work ethic. These three qualities will take you as far as you want to go in this company because they’re the most important in the collection industry. Consumers do not want to give their money to people they don’t trust, aren’t positive, and don’t work for it.

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Collections 200

Consumer Finance

JUNE 5, 2023

The Consumer Financial Protection Bureau (CFPB) today released a new issue spotlight on the expansive adoption and use of chatbots by financial institutions.

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Banks Financial Institution Financial services 113

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

Nexa Collect

JUNE 29, 2023

“Buy Now, Pay Later” (BNPL) schemes have gained popularity as an alternative to traditional credit, offering consumers the ability to purchase items immediately and pay for them over time. While these services can be convenient, they also have several potential negative impacts on consumers : Overspending : BNPL schemes can encourage impulsive buying and overspending by creating the illusion that consumers are not actually spending money.

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Retail Lender Loans 130

Prosperity Now

JUNE 15, 2023

Juneteenth National Independence Day commemorates the Emancipation Proclamation, in which President Abraham Lincoln issued the proclamation to free enslaved African

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Enterprise Recovery

JUNE 9, 2023

If you've ever struggled with chronic late-paying clients or are silently seething over invoices that were never paid, you're probably considering commercial debt collection. Of course, you're wondering how much it'll cost and if you have time to research it. You may wonder how to escalate an unpaid debt to a collections agency and if they'll damage your client relationships.

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Collections Collection Agencies Collections Agency 154

Account Recovery

JUNE 6, 2023

The California Department of Financial Protection and Innovation yesterday announced three enforcement actions against different debt collection operations, for attempting to collect in the state without having or applying for a license and also making false or misleading representations when attempting to collect on a debt i n violation of the Fair Debt Collection Practices …

Fair Debt Collection 246

Fair Debt Collection Collections 246

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Collection Agencies

American Profit Recovery

JUNE 28, 2023

There have been many shifts in the debt collection industry over the past several years. And the trends and updates that many in the collection industry have worked hard on, are moving the industry in a positive way. Everything from enhanced technology, a better understanding of the career opportunities in the collection industry as well as forward progress in the collaboration between industry leaders and government at all levels.

Collections 130

Collections Debt collector Collection Agencies Collections Agency 130

Consumer Finance

JUNE 7, 2023

The Consumer Financial Protection Bureau (CFPB) took action against medical debt collector Phoenix Financial Services (Phoenix) for numerous debt collection and credit reporting violations.

Financial services 110

Financial services Debt collector Collections 110

Nexa Collect

JUNE 28, 2023

Improving your online business reputation is essential in today’s digital age, where customers frequently rely on online reviews and social media presence before making purchasing decisions. Here are steps to help you improve your online business reputation: Monitor Your Online Presence : Regularly monitor what is being said about your business online.

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Collect More

JUNE 25, 2023

EOFY Demand template. Many people have asked us for this so without further adieu here is a demand you can use this week to hopefully get paid before Friday. Remember, to get them to pay, your customer MUST benefit. If they don’t then your invoice will just remain where it is, a problem for next Financial Year. Just add your debt amount next to the dollar sign and away you go.

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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.

Jimerson Firm

JUNE 21, 2023

The COVID-19 pandemic has had a dramatic and unprecedented impact on the commercial real estate market, requiring landlords and tenants to rethink their traditional lease clauses. While the post-COVID landscape is still uncertain and may take some time to fully recover, there are a few key lease clauses that should be included in every new or renewed commercial lease agreement.

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Government Loans 98

Account Recovery

JUNE 5, 2023

Facing the possibility of a $3 billion claim from the Consumer Financial Protection Bureau, the parent company of Lexington Law and CreditRepair.com filed for Chapter 11 bankruptcy protection yesterday. A copy of the filing, filed in the Bankruptcy Court for the District of Delaware, can be accessed by clicking here.

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Bankruptcy 233

American Profit Recovery

JUNE 26, 2023

We have a new collection manager here at American Profit Recovery and her name is Angela. She has been with American Profit Recovery for several years now and she has demonstrated the leadership qualities that can move a team in the right direction. If you are a regular reader of our blog then you have seen Angela, better known as Angie to her coworkers, contributing many articles about what it’s like to work here at American Profit Recovery, the culture we continuously build as well as th

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Collections Collection Agencies Collections Agency 130

Consumer Finance

JUNE 7, 2023

Five federal regulatory agencies today requested public comment on proposed guidance addressing reconsiderations of value (ROV) for residential real estate transactions.

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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.

Collections

Nexa Collect

JUNE 27, 2023

Chargebacks can be costly for a business, not just in terms of revenue, but also in operational overheads and potential damage to reputation. Here are some strategies to reduce chargebacks: Clear Product/Service Descriptions : Provide detailed and accurate product or service descriptions. This reduces the likelihood of a customer being dissatisfied or claiming that the product or service was not as described.

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Education Banks 130

Prosperity Now

JUNE 15, 2023

This June, families across the country are celebrating fathers and father figures in their lives. The yearly question of what to get dad for Father's Day will come up, and many kids will begin crafting and signing homemade cards.

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Credit Corp

JUNE 8, 2023

In July 2016, the Consumer Federation of America (CFA) and VantageScore Solutions reported that most consumers—more than 80%—knew basic facts about their credit scores, including that credit scores are used by lenders to approve or deny mortgages and by credit card issuers to approve or deny credit cards. While it’s good that most people know the importance of credit scores, the same survey found that many consumers don’t understand credit score details.

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Lender Loans Creditors Credit Unions 98

Account Recovery

JUNE 30, 2023

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?

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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