UK debt collections
MARCH 18, 2021
New data released by Accountancy firm Mazars has shown a worrying rise in the amount of UK Small Businesses in financial distress. Over 135,000 Companies were shown to be suffering from financial strain this month, treble the pre pandemic average. Retail and service Businesses are the hardest hit. Almost 60% of Businesses in these sectors are the hardest hit.
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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Credit Corp
MARCH 14, 2021
The following is a guest post by Jacob Dayan, of Community Tax. The views and opinions expressed in this article are those of the author only and are not endorsed by Credit.com. It’s no big secret that small businesses have been hit hard by the economic effects of the coronavirus. In a recent industry study, over 100,000 restaurants closed , either temporarily or permanently, six months into the pandemic, The losses that have accumulated over this past year have created uncertainty over when and
Account Recovery
MARCH 19, 2021
The Oklahoma Senate has passed a bill that would prohibit healthcare providers from reporting unpaid debts to a credit reporting agency or placing them with a collection agency unless the patient was provided with a “good faith estimate” of the cost of the services prior to them being rendered. The bill, SB548, was approved in … The post Oklahoma Senate Passes Medical Collection Bill appeared first on AccountsRecovery.net.
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.
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 18, 2021
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 Casey Simmons of
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.
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.
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.
Jimerson Firm
MARCH 19, 2021
When a lender holds a defaulted loan there are several issues that need to be considered before initiating a foreclosure. Lenders must ensure compliance with all relevant State and Federal laws and regulations to preserve their remedies for recovery. Additionally, specific Federal regulations may also apply and provide additional requirements for lenders holding VA loans or FHA loans, or provide protections for service members.
Account Recovery
MARCH 18, 2021
A bill has been introduced in the Nevada Senate that would require collection agencies to notify consumers at least two months before attempting to collect on a debt, while also prohibiting filing a collection lawsuit to recover unpaid medical debts if the balance is less than $10,000. The bill, SB248, was introduced this week by … The post Bill Introduced in Nevada to Restrict Collection of Medical Debts appeared first on AccountsRecovery.net.
Credit Corp
MARCH 17, 2021
According to a 2018 survey, almost 30% of children have used their parent’s credit or debit cards without permission. And around 50% of people responding to the same survey said they gave children permission to use their credit cards—with most of those individuals coming to regret the decision. One reason handing your child your credit or debit card can be an issue is that they most likely do not fully understand the money management that goes into using the card.
Nerd Wallet
MARCH 15, 2021
Reducing spending in three common budget categories may significantly boost your ability to save money. And a small mental trick could help you stick to an ongoing savings plan. Those are the findings of two studies investigating the spending habits of better savers and the psychology of saving. Here’s how to apply these habits to. Hal M. Bundrick, CFP writes for NerdWallet.
Advertisement
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.
Jimerson Firm
MARCH 18, 2021
In Florida, the public and press have a fundamental right of access to judicial proceedings, which includes access to documents submitted to the court. This may be troublesome for businesses seeking to maintain the confidentiality of sensitive information, such as trade secrets or other proprietary information. However, under certain circumstances, a court can place limitations on this right of access and shield court records from public scrutiny.
Account Recovery
MARCH 18, 2021
EDITOR’S NOTE: The following article was authored by RMA International and is re-published here with its permission. RMAI brings the next best thing to a crystal ball to its 2021 Annual Conference. The keynote address, “Looking Ahead – The Future of the Collection Industry,” features former Deputy Director of the Consumer Financial Protections Bureau (CFPB), … The post Keynote Address at RMAI 2021 Annual Conference Looks Ahead appeared first on AccountsRecovery.net.
Fico Collections
MARCH 17, 2021
Trade-based money laundering (TBML) is a growing risk, as seemingly legitimate transactions are exploited by criminal groups to launder funds and finance terrorist activity. In this two-part series, I will explore some recent studies on TBML, the challenges faced in countering the problem and some industry trends. However to set a context, we must first answer the question – what is trade-based money laundering?
Nerd Wallet
MARCH 15, 2021
As the U.S. enters its second year of the coronavirus pandemic, the country has conducted more than 360 million tests for COVID-19 and continues to roll out millions of vaccines. It hasn’t been seamless — about 1 in 6 people who are 65 and older tried and failed to sign up for a vaccine, according. Kate Ashford writes for NerdWallet. Email: kashford@nerdwallet.com.
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 16, 2021
This post originally appeared on The Financially Independent Millennial. . Is your credit card debt behaving like an unruly boy and has gone completely out of your control? Are you spending sleepless nights wondering how to get yourself out of a debt spiral? Or perhaps it’s a burgeoning credit card debt? Worrying about your credit card debt without taking any concrete action won’t help to tame your spiraling, out-of-control debt.
Account Recovery
MARCH 17, 2021
A bill has been introduced in the House of Representatives that seeks to amend the Fair Debt Collection Practices Act to change the information included in the written notice that follows an initial communication and provide written notice at least 30 days before commencing a legal action against a consumer. The bill, H.R. 1671 — … The post Bill Introduced to Amend FDCPA to Protect Consumers From ‘Predatory’ Collectors appeared first on AccountsRecovery.net.
Jimerson Firm
MARCH 15, 2021
Professional service providers in the state of Florida find themselves in precarious legal situations often given the nature of their work. Because these companies are providing advice, consulting, or other services based an employee’s individual qualifications or relationships, there is always an opportunity for the individual to act in his or her own best interest rather than in the interests of the professional service provider company or the client.
Nerd Wallet
MARCH 16, 2021
This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. The decision to invest to build long-term wealth is complicated by the plethora of choices. With thousands of funds available to U.S. investors, how.
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?
Fico Collections
MARCH 15, 2021
When we launched FICO’s “Score A Better Future” program in October 2018, our main goal was to continue to expand consumer credit access through financial education. Our mantra, “Your FICO® Score today doesn’t have to be your FICO Score in the future” still holds true today. These free events are designed to demystify credit and give consumers the tools – including non-profit credit counseling – to take control of their financial health.
Account Recovery
MARCH 17, 2021
In a case that was defended by Lawrence Bartel and Andrew Schwartz from Gordon Rees Scully Mansukhani, the Third Circuit Court of Appeals has affirmed the dismissal of a Fair Debt Collection Practices Act case in which the wife of a deceased individual sued after she was sent collection letters by a law firm seeking … The post Appeals Court Upholds Dismissal of FDCPA Case After Hospital Sought to Collect From Wife of Deceased Husband appeared first on AccountsRecovery.net.
Consumer Finance
MARCH 16, 2021
On March 17, 2021, Consumer Financial Protection Bureau Acting Director Dave Uejio issued a statement regarding consumers’ access to Economic Impact Payment funds distributed through the American Rescue Plan.
Nerd Wallet
MARCH 19, 2021
Sean McAuliffe’s business, International Key Supply, suffered financially when the pandemic began. So he set out to cut operating costs for the New York-based distribution company. He canceled a few services, and for more important ones, he contacted the providers to request deferred or lowered bills. First, he emailed, only to receive unhelpful replies.
Advertisement
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.
Expert insights. Personalized for you.
87 
Let's personalize your content