FFGN COLLECT NY
JANUARY 29, 2023
Many people believe a recession would be good for the debt collection industry. They think more debt leads to more collectible debt, more collections, higher returns to clients, and increased fees to debt collection firms. Despite popular opinion, a recession does not benefit the debt collection industry or an individual business’s debt collection efforts.
AGA
JANUARY 31, 2023
Recognizing Why You Are Being Paid Past Due Is Key to Changing Customer Behavior As published in The Virtual Credit Manager There are any number of reasons a business may pay beyond your terms of sale. Some of the reasons for paying slow are more serious than others, but they all impact your cash flow and your collection efforts. There are several keys to effective past due collections and they start with your order-to-cash process.
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True Accord
FEBRUARY 1, 2023
Businesses and consumers are buckling up for a bumpy economic road in 2023, but your company doesn’t have to accept that these recovery roadblocks spell inevitable losses. With the right digital communication strategy you can turn challenges into opportunities and engagement into recovered revenue. Let’s look at the roadblocks—and uncover the opportunities.
Nerd Wallet
FEBRUARY 2, 2023
Elizabeth Ayoola writes for NerdWallet. Email: eayoola@nerdwallet.com. Sean Pyles writes for NerdWallet. Email: spyles@nerdwallet.com. Twitter: @SeanPyles. The article Smart Money: Overcoming Structural Challenges originally appeared on NerdWallet.
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.
Collections Law
FEBRUARY 1, 2023
When a check bounces, you can sometimes get paid by simply following up with the person who wrote the check. It might have been a blip and they may be willing to pay. When that doesn’t happen, Massachusetts law may allow you to sue that person and the company named on the check. That’s because, by law, anyone in Massachusetts who writes a bad check may be personally liable for its payment, along with a relatively small amount in damages.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
American Profit Recovery
JANUARY 30, 2023
It’s no surprise to the team here but we have once again earned the distinction of being one of the best places to work in collections. Since 2008, we have continued to earn this recognition through an effort spearheaded by Best Companies Group. Sure we offer a competitive salary, a great benefits package and other perks, but there’s one thing that truly makes American Profit Recovery a great place to work.
Enterprise Recovery
FEBRUARY 3, 2023
When your business has a late-paying client, follow-up calls must be handled quickly and with conviction. Late or non-paying clients cause your business to write receivables off as bad debt, and they could cause the deterioration of your business relationships. Or you could escalate to a professional B2B collections agency that values your business relationships and your cash flow.
Consumer Finance
JANUARY 31, 2023
Today, the Consumer Financial Protection Bureau (CFPB) proposed a rule to curb excessive credit card late fees that cost American families about $12 billion each year. Major credit card issuers continue to profit off a junk fee protected by an immunity provision that allows issuers to escape scrutiny of otherwise illegal late fees.
Account Recovery
FEBRUARY 3, 2023
A District Court judge in Michigan has denied a plaintiff’s motion for summary judgment, while also denying the defendant’s motion to dismiss or, in the alternative, for summary judgment in a Fair Debt Collection Practices Act case involving the alleged failure of a credit reporting agency to remove a dispute flag from the plaintiff’s account … The post Judge Denies MSJ Motions from Plaintiff, Defendant in FDCPA Case over Dispute Removal Request first appeared on Accounts
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.
Nerd Wallet
JANUARY 30, 2023
Eliza Haverstock writes for NerdWallet. Email: ehaverstock@nerdwallet.com. Twitter: @elizahaverstock. The article Student Loans: 5 Biggest Winners of Biden’s New IDR Plan originally appeared on NerdWallet.
Credit Corp
FEBRUARY 1, 2023
According to the National Retail Federation, almost half of all consumers say they expect to file their taxes in February. Those who are expecting refunds often want to get their returns in early to maximize the chances of a quicker refund. If you know you’ll owe taxes, you might push off filing your refund until April so you have more time before you pay it, but what happens if you file your taxes late?
PDC Flow
JANUARY 31, 2023
Validating credit card information before a transaction is submitted can eliminate failed payments. To help merchants ensure card data is accurate before a transaction is processed, PDCflow announces the new Card Verify feature. Card Verify Benefits Companies with too many failed credit card payments lose out on revenue and waste staff time contacting customers for alternative card numbers.
Account Recovery
FEBRUARY 3, 2023
A pair of collection operations have waived their rights to a hearing before the Minnesota Department of Commerce and agreed to fines — one for $10,000 and one for $7,000 — for engaging in unlicensed collection activity in the state. RSI Enterprises has been fined $10,000 and Advanced Portfolio Group has been fined $10,000 — … The post Minn.
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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.
Nerd Wallet
JANUARY 30, 2023
Sam Taube writes for NerdWallet. Email: staube@nerdwallet.com. Twitter: @samuel_taube. The article What to Expect From the First FOMC Meeting of 2023 originally appeared on NerdWallet.
PBWT
JANUARY 30, 2023
The concept of “property of the estate” is important in bankruptcy because it determines what property can be used or distributed for the benefit of the debtor’s creditors. Defined by section 541 of the Bankruptcy Code, “property of the estate” broadly encompasses the debtor’s interests in property, with certain additions and exceptions provided for in the Code.
Sawin & Shea
FEBRUARY 1, 2023
The time period leading up to filing for bankruptcy is extremely stressful, as you know. You probably heaved a sigh of relief once you received your case number and were assured that an automatic stay was in effect. Fielding constant phone calls from creditors can be unnerving and stressful – and stress can have a cumulative effect on your physical health as well as your emotional well-being.
Account Recovery
FEBRUARY 3, 2023
I can’t speak for you, but I am fascinated by the differences from one city to the next, one state to the next, and one country to the next. Whether you call it pop, soda, or Coke, use your thumb to point instead of your index finger, or spit on the bride at a wedding, … The post U.K. Collection Agency in Hot Water After Being Caught Breaking into Homes first appeared on AccountsRecovery.net.
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.
Nerd Wallet
JANUARY 30, 2023
Holden Lewis writes for NerdWallet. Email: hlewis@nerdwallet.com. Twitter: @HoldenL. The article February Mortgage Rates on the Downslope by End of Month originally appeared on NerdWallet.
PBWT
JANUARY 29, 2023
In 2022, there were several high-profile crypto bankruptcy filings. A big question in these cases is whether there will be any money to satisfy unsecured creditor claims. If there are funds to distribute, then the creditors’ claims will become more valuable, and the cases will become even more interesting. Because crypto companies do not have much physical inventory, real estate or other tangible assets to liquidate, it can be hard to imagine what assets will be available to help satisfy c
UK debt collections
FEBRUARY 3, 2023
Following an investigative report from the Times , Utility Debt Collection Agency Arvato Financial Solutions as insisted they act in compliance with regulation The Times report alleges that Arvato, while acting a utility debt collection agency for for British Gas, ignored the vulnerabilities of customers and forcibly entered homes to prepayment gas meters.
Account Recovery
FEBRUARY 3, 2023
COMPLAINT ALLEGES CONFUSION BETWEEN WHO OWNED DEBT AND TO WHOM DEBT WAS OWED The issues related to making sure a consumer recognizes the debt being referenced in a collection letter (or notice) while also making sure to identify the current creditor to whom the debt is owed is not an easy needle to thread. Leave … The post Daily Digest – February 3.
Speaker: Genevieve Hancock, CPA
Cash flow isn’t just about balancing numbers - it's about ensuring your organization is positioned for both immediate stability and long-term success. Understanding that cash flow management fuels every decision, every opportunity, and every growth phase is critical. But how can you shift from simply managing cash to strategically optimizing it for resilience?
Nerd Wallet
JANUARY 30, 2023
Kate Ashford, CSA® writes for NerdWallet. Email: kashford@nerdwallet.com. Twitter: @kateashford. The article Why Do So Many Older Adults Choose Medicare Advantage? originally appeared on NerdWallet.
Jimerson Firm
JANUARY 30, 2023
Many homeowners in Florida are no stranger to experiencing damage to their roof during hurricane season. Before May 26, 2022, the rule in Florida was that, if more than 25% of a roof needed to be repaired or replaced, then the entire roof system was required to be replaced to bring the entire roof up to code (the “25% Roof Replacement Rule”). However, on May 26, 2022, SB 4-D took effect, which eliminated Florida’s 25% Roof Replacement Rule.
UK debt collections
JANUARY 30, 2023
Government Minister Nadhim Zahawi has come under criticism for chasing unpaid commercial rent during the pandemic. His firm Zahawi and Zahawi Ltd owns a number of Commercial properties in Birmingham. A barber said he was forced to liquidate his business after being hounded by under-fire minister Nadhim Zahawi’s family firm. Jafar Jahromi, 57, was among small businesses chased for unpaid rent during the pandemic by Zahawi and Zahawi Ltd.
Account Recovery
FEBRUARY 3, 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? Call … The post Complaint Alleges Confusion Between Who Owned Debt and To Whom Debt was Owed first appeared on AccountsRecovery.net.
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