Account Recovery

NOVEMBER 8, 2024

Personal and business bankruptcy filings in the U.S. have risen significantly, reflecting the impact of inflation, rising interest rates, and the end of COVID relief programs. This trend provides important insights for professionals in the credit and collection industry as they assess the financial health of consumers and businesses. By the numbers: According to the Administrative Office of the U.S.

Bankruptcy 130

Bankruptcy Collection Agencies Collections Agency Collections 130

Enterprise Recovery

NOVEMBER 8, 2024

As the new year approaches, businesses often must adjust their rates. These changes could be driven by factors such as inflation, increased operational costs, or the need to invest in new technologies and services. For B2B companies and SaaS providers, staying competitive and maintaining high service standards often require periodic rate evaluations.

Client Expectations 195

Client Expectations 195

Consumer Finance

NOVEMBER 6, 2024

The CFPB took action against Navy Federal Credit Union for charging illegal overdraft fees.

Credit Unions 145

Credit Unions Credit Unions Banks 145

UK debt collections

NOVEMBER 4, 2024

New research has shown that debt collectors are breaching national standards in 6% of visits to individuals facing enforcement. The study into doorstep interactions in civil enforcement – published by the Enforcement Conduct Board (ECB) – found a noticeable area in which the standards are least commonly met is in acknowledging and taking into account self-identified or obvious vulnerability.

Collections 79

Collections Debt collector 79

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.

Account Recovery

NOVEMBER 8, 2024

The Consumer Financial Protection Bureau yesterday announced an enforcement action with one of the nation’s largest credit unions for charging illegal overdraft fees that will see the institution pay $95 million in fines and restitution to members. Driving the news: Navy Federal Credit Union has been ordered by the CFPB to refund more than $80 million to consumers and pay a $15 million civil penalty for charging illegal overdraft fees on checking accounts from 2017 to 2022.

Credit Unions 130

Credit Unions Credit Unions Collections 130

The Kaplan Group

NOVEMBER 5, 2024

In recent years, side hustles have gained significant traction as individuals seek additional income streams and entrepreneurial opportunities. A new study by The Kaplan Group examines search trends for various side hustles, the challenges associated with starting these ventures, and the geographic distribution of new business applications across the United States.

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UK debt collections

NOVEMBER 5, 2024

The number of Welsh companies with overdue invoices on their books reached a 2024 high in September, according to new research from R3, the UK’s insolvency and restructuring trade body. Analysis of data provided by Creditsafe shows that 18,360 Welsh businesses had unpaid invoices on their books last month – the highest monthly total of the year so far.

Trade 75

Trade 75

Account Recovery

NOVEMBER 8, 2024

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 (855) WEB-RECON or email admin@webrecon.net today!

Law Firms 130

Law Firms Collections Fair Debt Collection 130

Burt and Associates

NOVEMBER 5, 2024

Late payments and past-due accounts can weigh down a business, impacting cash flow, operational efficiency, and overall growth. But how can business owners and financial managers spot these accounts early, understand the reasons behind delinquencies, and take proactive steps? Here’s a practical guide with tips and warning signs that can help you safeguard your accounts receivable and keep your financial health in check. 1.

Collection Agencies 52

Collection Agencies Collections Agency Collections Debt Recovery 52

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

Qualco

NOVEMBER 5, 2024

NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. You can view it here. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. However, in a small number of credit businesses, the right strategies for systems and people have not been set.

Loans 52

Loans Credit Management Creditors Government 52

Prosperity Now

NOVEMBER 5, 2024

Prosperity Now recently hosted the "Tax Truths: Boosting Financial Well-being for LMI Communities through Accessible Tax Support" webinar in partnership with Change Machine.

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Account Recovery

NOVEMBER 8, 2024

The Court of Appeals for the Ninth Circuit has affirmed a ruling in favor of a credit reporting agency sued for violating the Fair Credit Reporting Act but overturned a ruling in favor of a collection operation for allegedly violating the Fair Debt Collection Practices Act on the grounds of whether the plaintiff actually owed the debt to the creditor — a hospital.

Fair Debt Collection 130

Fair Debt Collection Collection Agencies Collections Agency Judgment 130

BN Lawyers

NOVEMBER 8, 2024

Barron & Newburger, P.C. is pleased to announce the selection of five of its attorneys for Super Lawyers Magazine to its Super Lawyers and Rising Stars Lists for 2024 by Thompson Reuters: Francesca Di Troia — Rising Star in Civil Litigation in 2023 and 2024. Noah Fiedler – Super Lawyer in Professional Liability since 2022 Alyssa Johnson – Super Lawyer in Professional Liability, Creditor Debtor Rights, Civil Litigation since 2023, Rising Star from 2017-2022.

Lawyers 40

Lawyers Debtor Bankruptcy Creditors 40

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Collection Agencies

Qualco

NOVEMBER 4, 2024

As the financial sector rapidly evolves, driven by technological advancements, loan origination processes are experiencing profound changes. A key development is the growing adoption of Loan Origination Systems (LOS), which have become essential tools for financial institutions. According to recent forecasts from Future Market Insights , the global loan origination software industry is projected to grow at a CAGR of 13.4% from 2023 to 2033, reaching a market size of US$ 17,505.7 million by 2033.

Loans 52

Loans Financial Institution Lender Creditworthiness 52

Account Recovery

NOVEMBER 7, 2024

I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support. TEC is now extending its services by offering proven, industry-leading technology solutions alongside of our Professional Services to help Clients feel confident in their technology de

Financial services 130

Financial services Debt Recovery Bankruptcy Collections 130

Account Recovery

NOVEMBER 7, 2024

A District Court judge in North Carolina has denied a defendant’s motion to dismiss a Fair Credit Reporting Act suit, ruling the plaintiff’s inability to subsequently get approved for an apartment sufficient for her to have standing, and questioned the defendant’s dispute investigation process is enough to keep the case alive. The background: The case centers on an alleged misreporting of a debt that the plaintiff never incurred.

Collection Agencies 130

Collection Agencies Collections Agency Collections 130

Account Recovery

NOVEMBER 7, 2024

A class-action lawsuit has been filed this week against a collection agency after it was the victim of a ransomware attack and data breach. The breach, which occurred in June 2024, involved unauthorized access by cybercriminals who targeted the defendant’s computer systems using ransomware, specifically a threat actor known as “Play.” The breach was not detected until August, and affected individuals were notified last month.

Healthcare 130

Healthcare Collection Agencies Collections Agency Collections 130

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.

Account Recovery

NOVEMBER 7, 2024

Williams & Fudge, Inc. (“WFI”), an industry leading receivables management firm, is pleased to announce the promotion of Jon Balon from Vice President of Technology, Product and Innovation to Chief Technology Officer (CTO) effective November 1, 2024. This promotion is part of a broader corporate restructure aimed at supporting continued growth and strategic alignment.

Client Expectations 130

Client Expectations Collection Companies Collections 130

Account Recovery

NOVEMBER 6, 2024

62% of Americans are now living paycheck to paycheck, according to recent research from PYMNTS Intelligence, highlighting a stark reality for many consumers today. For those living on the edge financially, every pay period is just enough to make it to the next — leaving them highly vulnerable to unexpected expenses. Why it matters: Paycheck-to-paycheck households are increasingly reliant on revolving credit and are carrying higher outstanding balances compared to financially stable consumers.

Collections 130

Collections 130

Account Recovery

NOVEMBER 6, 2024

Judge Awards Attorney’s Fees to Both Sides in FDCPA Case Credit Strain Grows as More Americans Live Paycheck to Paycheck Report Highlights Progress of CFPB’s Information Security Efforts, But Gaps Still Remain InDebted Appoints Kristyn Leffler as Chief Product Officer 20 Companies Seeking Collection Talent WORTH NOTING: Happy 10th birthday to Amazon’s Alexa … The best cell phone plans … First-time homebuyers are older than ever, according to new data … Just how important

Collections 130

Collections 130

Account Recovery

NOVEMBER 6, 2024

Strategic hire brings fresh perspective and deep industry expertise to accelerate InDebted’s AI-powered transformation of collections. InDebted, the global third party collections solution for future-thinking organizations, today announced the appointment of Kristyn Leffler as Chief Product Officer. Leffler joins InDebted from one of the nation’s largest debt buyers, where she developed innovative, data-driven collections strategies.

Debt Recovery 130

Debt Recovery Collections Banks 130

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Collections

Account Recovery

NOVEMBER 6, 2024

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 to be a service to aggregate industry job opportunities into one convenient location.

Accounts Receivables Management 130

Accounts Receivables Management Collections 130

Account Recovery

NOVEMBER 6, 2024

A District Court judge in Florida has been forced to rule on competing motions for attorney’s fees in a Fair Debt Collection Practices Act case in which both sides are claiming victory, ruling partially in favor of both the plaintiff and the defendant. The judge decided that the plaintiff is entitled to recover some attorney’s fees, while the defendants are also entitled to recover some costs, but only after a particular offer of settlement was made.

Fair Debt Collection 130

Fair Debt Collection Consumer Collections Collections 130

Account Recovery

NOVEMBER 6, 2024

The Consumer Financial Protection Bureau has made strides in improving its information security program, but a recent audit highlights several critical areas where the agency is falling short, according to a report released last week by the Federal Reserve Board’s Office of Inspector General, which is an independent oversight authority over the Fed and the CFPB.

Financial Institution 130

Financial Institution 130

Account Recovery

NOVEMBER 5, 2024

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 (855) WEB-RECON or email admin@webrecon.net today!

Fair Debt Collection 130

Fair Debt Collection Banks Collections 130

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?

Financial services