Sawin & Shea
MARCH 16, 2021
A new rule will soon allow debt collection messages through social media. It’s expected to impact 1 in 4 adult Americans, or 70 million people , who have at least one bill in collections. On top of phone calls, emails, and text messages, the Consumer Financial Protection Bureau (CFPB) will allow debt collectors to message you through Facebook, Instagram, Twitter, and almost any other social media channel.
Credit Corp
MARCH 4, 2021
Even if you have a little bit of debt, you need to find ways to manage it properly. Whether you’re paying off your tuition, loans, or credit card bills, this guide has been designed to help you better manage your outgoings and gain a better understanding of the options available. Since the COVID-19 pandemic, a sharp spike in unemployment levels has prompted talk of an emerging debt crisis in the US.
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Account Recovery
MARCH 29, 2021
A Pennsylvania debt collector is facing a class-action lawsuit in New Jersey after it was accused of sending an initial communication that included a statement in the validation notice that said a dispute could be filed either verbally or in writing. A copy of the complaint in the case of Rodriguez v. Monarch Recovery Management … The post Collector Facing Class-Action FDCPA Suit Over Validation Notice appeared first on AccountsRecovery.net.
American Profit Recovery
MARCH 2, 2021
You might perceive that all calls from a collection agency are nothing more than a standoff between a consumer and a debt collector. However, that is far from an accurate representation of how today’s interactions with consumers unfold. In fact, here it is quite the opposite. And despite the media’s perception of the collection industry, when we get people on the phone, and we get to a place where a cordial conversation begins to occur, we go to great lengths to get to know the consu
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
MARCH 19, 2021
Whether you're managing a growing accounts receivable department or you're an A/R department of one, it's important to measure the effectiveness of your efforts. Is your A/R team doing all of the right things to get paid consistently and on time? Read further to evaluate your department's effectiveness and considerations to get even better. How effective is your business' accounts receivable department?
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Nexa Collect
MARCH 12, 2021
Debt collection agencies in PR include Kinum , TSI , CICA, ILCA and Professional recoveries. Spanish and English-speaking debt collectors are required for Puerto Rico debt collection. Need a Collection Agency in PR? Contact us. ( Local debt collectors ). Debt collection is hard enough in general, but what can you do when your recovery efforts take you to non-contiguous territories of the United States, like Puerto Rico?
Consumer Finance
MARCH 31, 2021
The Consumer Financial Protection Bureau (CFPB) announced today it is rescinding seven policy statements issued last year that provided temporary flexibilities to financial institutions in various consumer financial markets, including the mortgage, credit reporting, credit and prepaid card markets. The seven rescissions, effective as of April 1, 2021, provide guidance as to how financial institutions should now comply with various consumer financial laws and regulations.
Account Recovery
MARCH 29, 2021
I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.
American Profit Recovery
MARCH 31, 2021
Let’s face it, most of us do not enjoy a trip to the dentist. The anxiety experienced can sometimes be greater than other medical visits. If you are a dental professional, you know this part of the business all too well. When seeing patients, part of your job is to put them at ease while they are in your office. The better equipped you and your staff are to help your patients relax and accommodate them, the more profitable your practice can become.
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.
Enterprise Recovery
MARCH 12, 2021
In every business, employees are the most powerful and often, most expensive, resources. Human resources managers are tasked with hiring the best people in the most efficient manner, onboarding them quickly and supporting the overall employment experience within the company. It's quite the challenge to manage all of the paperwork, changing job specifics and the actual human resources.
Nerd Wallet
MARCH 17, 2021
If you know you’re getting a refund come tax time, filing your taxes can almost feel fun. But if you suspect you’re going to owe the IRS money you don’t have, it can be hard to even start the process. According to a NerdWallet survey, of those who failed to file by last year’s extended. Alana Benson writes for NerdWallet. Email: abenson@nerdwallet.com.
Credit Corp
MARCH 31, 2021
The following is a guest post by Alene Laney, of Pennies to Paradise. Tighter lending requirements mean it’s more important than ever for homebuyers to get their finances in order. Those that do will be rewarded with great mortgage rates, lower payments, and a home that provides comfort and security for years to come. Lenders Are Worried about Delinquency.
Consumer Finance
MARCH 23, 2021
Today, the Consumer Financial Protection Bureau (CFPB) provided to Congress the Consumer Response Annual Report for 2020. The impact of the COVID-19 pandemic on the consumer financial marketplace is reflected in the increase of complaints submitted to the CFPB.
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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.
Account Recovery
MARCH 29, 2021
People sued less in February, but complained more, according to data released by WebRecon. The number of Fair Debt Collection Practices Act lawsuits is down 25% for the first two months of 2021, compared to the first two months of 2020, while the number of Fair Credit Reporting Act lawsuits is down 3%, and the … The post Lawsuits Way Down, Complaints Way Up: WebRecon appeared first on AccountsRecovery.net.
American Profit Recovery
MARCH 5, 2021
The title may grab you but let’s be clear, debt collections is not sales and it is not selling anything. However, some of the core strategies that allow a sales executive to be successful can be viewed as some of the same traits you should be implementing in your collections. Let us explain. There are always great lessons to be had and new things to be learned if you’re looking in the right places in the world of business.
Enterprise Recovery
MARCH 26, 2021
The Collections Effectiveness Index is measured as a percentage of accounts receivable collected within a given time period.
Nerd Wallet
MARCH 22, 2021
Shopping for life insurance can feel overwhelming, especially if you don’t have the facts. You may have heard that it’s too expensive or only healthy people can qualify for coverage, but the truth may surprise you. We break down six common life insurance myths so you can better understand your options and get coverage that’s. Georgia Rose writes for NerdWallet.
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.
Credit Corp
MARCH 9, 2021
The following is a guest post by Kalicia Bateman, a finance editor for Best Company. When you’ve missed a mortgage payment your mind may immediately spiral to foreclosure. Foreclosure. It’s a big, scary word. But, it should bring you some peace of mind to know that foreclosure is not the immediate consequence for missing a loan payment. Foreclosure doesn’t really come up until you’ve missed two or three payments.
Consumer Finance
MARCH 15, 2021
The Consumer Financial Protection Bureau (CFPB) today sued a student loan debt relief company, its owner, and manager for allegedly charging thousands of consumers more than $3.5 million in illegal upfront fees.
Account Recovery
MARCH 26, 2021
The Maryland Senate and House of Representatives each have voted unanimously to approve their own versions of a bill that affect how medical debts are collected, but opponents of the measure were able to get a key provision removed from the bills that would have established a threshold for which collection lawsuits could be filed. … The post Maryland Legislature Passes Medical Collection Bills appeared first on AccountsRecovery.net.
American Profit Recovery
MARCH 10, 2021
If you are running any type of healthcare facility or medical practice, we know how hard you have worked to cultivate new patients. It can take years to build a thriving practice and along with the best medical care, the way you do that is to provide a warm and welcoming environment at every phase of the patient experience. The patient experienced starts from that first phone call for care all the way through how that person is treated in the office, by all levels of staff, and after the visit.
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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.
Enterprise Recovery
MARCH 5, 2021
Commercial debt recovery, also called corporate collections or B2B debt collections, is used specifically to recover delinquent business customer accounts. Not to be confused with consumer debt collections where the delinquent account holder is an individual, commercial debts refer only to businesses. To clear up any confusion, we'll cover what's different and why.
Nerd Wallet
MARCH 18, 2021
Many people want to remain in their homes after they retire rather than move to a senior living facility or community. Unfortunately, most homes aren’t set up to help us age safely and affordably. If your goal is to “age in place,” some early preparation could help make that possible — or point to better. Liz Weston writes for NerdWallet. Email: lweston@nerdwallet.com.
Credit Corp
MARCH 18, 2021
This post originally appeared on Your Money Geek. It’s funny how sometimes life can give small clues as to how you should be handling your finances. For example, a few years ago, a minor snow skiing accident revealed my lack of diversity regarding investing. You’re probably scratching your head, wondering what I’m talking about. Let me set the scene for you.
Consumer Finance
MARCH 10, 2021
On March 11, 2021, the Consumer Financial Protection Bureau announced it is rescinding its January 24, 2020 policy statement, “Statement of Policy Regarding Prohibition on Abusive Acts or Practices.”.
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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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