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Collection operations these days are getting advanced degrees in statistical analysis and behavioral sciences, and those disciplines are paying off as agencies make investments in technology and ratchet up the methodical and experimentative sides of their operations, said Scott Purcell, the chief executive of ACA International during the latest episode of “Behind the Curtain.” Purcell … The post Scott Purcell Talks About Helping Collectors Build a Better ‘Mousetrap’
Whether you’re a startup or an established organization, understanding the laws and regulations that apply to debt collection can be overwhelming. Compliance is always evolving as new laws and regulations are passed, new technology is introduced, consumer preferences shift, and court decisions or regulatory guidance suggest modifications to best practices.
The dreaded late fee. Loved if you’re the one charging and collecting them, hated if you’re the one paying them. But a late fee is a late fee right? Wrong. Whilst the concept itself is fine and we actively encourage the use of them, it is vital you do it the right way. Do’s: – Have a written agreement with your customer which covers the late fees.
When making the decision to use commercial debt collection services, businesses should be choosy. Not only are you selecting a company that should be efficient in recovering what's owed to you, but your brand reputation is also at risk. The collections specialists will be speaking to your clients on your behalf. It's imperative that they're able to be a fair but authoritative representation of your company.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
The governor of New York yesterday signed a bill into law that will eliminate a 22% collection fee on student loans owed to the state. The fee was added when unpaid student loan debts were referred to the Office of the Attorney General’s Civil Recoveries Bureau. Debts were referred there by various state agencies charged … The post N.Y. Gov Signs Bill Eliminating Certain Collection Fees on Unpaid Student Loans appeared first on AccountsRecovery.net.
Over the past couple of years, you may have noticed that our team has paid particular attention to tracking the compliments and kind words that consumers give our debt collectors. While many types of businesses only track numbers, we pay attention to what people are saying. Keeping track of the compliments that consumers have provided our debt collection team and others here on the staff has provided tremendous value and how we operate as a collection agency.
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Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Over the past couple of years, you may have noticed that our team has paid particular attention to tracking the compliments and kind words that consumers give our debt collectors. While many types of businesses only track numbers, we pay attention to what people are saying. Keeping track of the compliments that consumers have provided our debt collection team and others here on the staff has provided tremendous value and how we operate as a collection agency.
I heard a podcast last week about how runaway inflation in Argentina has caused everyone to party more. Why? When inflation gets really bad, there’s no reason to save cash for a later date since it will only get less valuable. So Argentines tend to spend their paychecks as soon as they come in, filling. Sam Kemmis writes for NerdWallet. Email: skemmis@nerdwallet.com.
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 Kacey Rask of Un
Our economy is changing rapidly and there has never been a better time for your business to do a health check. Everything seems to be rising for those running a small business. You’re battling rising costs of inventory, an increase in payroll costs, what you pay for transportation such as our lawn care clients and of course rising interest rates.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Inflation has been an unavoidable topic for investors in 2022, and it may not go away anytime soon. Today, Sam Taube writes for NerdWallet.
GETTING TO KNOW KACEY RASK OF UNIFUND Do you have an “attack strategy” for your days? Unifund’s Kacey Rask does. Knowing what she wants to accomplish every day is a primary reason why she has been able to rise through the ranks of the industry and someone who is looked to for advice and guidance. … The post Daily Digest – October 13. Getting to Know Kacey Rask of Unifund; ‘Least Sophisticated Consumer’ Allegations Not Enough for Standing appeared first on AccountsRecovery
Filing Chapter 7 bankruptcy provides numerous Indiana residents with debt relief. But the filing process also involves the liquidation of particular kinds of personal property. Fortunately, the vast majority of Chapter 7 filers are able to retain all of their property while also discharging their debts. That being said, some forms of personal property can be subject to seizure for certain filers.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
Home. Blog. FICO. Risk-Aware Marketing to Personalize Telco Customer Engagement. Here's how technology from the banking space can help telcos compete with aggressively competitive sales and retention tactics. FICO Admin. Tue, 07/02/2019 - 02:45. by Tim Young. expand_less Back To Top. Wed, 10/12/2022 - 15:35. Telcos are entering a brave new world of aggressively competitive sales and retention tactics.
The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. I can be so mean to myself. My inner critic roasts my actions like a political attack ad, with. Laura McMullen writes for NerdWallet.
In what feels like a “three people who have never been in my kitchen” claim, a District Court judge in Pennsylvania has granted a motion to dismiss filed by two debt collection companies that were sued for allegedly violating the Fair Debt Collection Practices Act and the Fair Credit Reporting Act, on the grounds that … The post Lack of Jurisdiction Leads EDPA Judge to Grant MTD in FCRA, FDCPA Case appeared first on AccountsRecovery.net.
One of the most crucial lessons the global community has learned in the last few years is the importance of supply chains and their impact on daily life and business. When supply chains are functioning well, they go almost entirely unnoticed, but even a slight interruption at a critical point in a supply chain can send things into turmoil. Let’s take a closer look at how supply chains function and how they can best serve your business.
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.
Law firms were sitting in the cat-bird seat for quite a while, in terms of the job marketplace. Now, employees have the upper hand. So, how can a law firm with hiring needs find success in a marketplace where they’re no longer in the driver’s seat? Well, there’s no perfect solution; but, here are a few suggestions you could employ: First, try to make your law firm a more compelling environment for potential hires.
Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. This week’s episode starts with two hot takes from our hosts about buy now, pay later loans and credit reports. Then we pivot to this week’s money question from Lauren, who left this voicemail: “Hi. My name is Lauren, and I’m interested. Jae Bratton writes for NerdWallet.
The Attorney General of Colorado has published a draft of proposed rules related to implementing the Colorado Privacy Act, and the public is being asked to comment on the proposal. A copy of the Notice of Proposed Rulmaking can be accessed by clicking here. The state has also scheduled a number of what it calls … The post Colorado AG Publishes NPRM on Privacy Act Regs appeared first on AccountsRecovery.net.
Collecting debt in theory shouldn’t be too hard, right? You tell the person who owes you money and they pay you. Well, if it was that simple, then we would probably be out of business. While many business owners get to enjoy smooth transactions with the vast majority of their customers, there will almost always. Read more » The post What makes a debt collector better at collecting debts than you?
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.
Thanksgiving week tends to draw major airport crowds. Coupled with inevitable weather delays and sometimes infrequent flyers, it can be a brutal time to travel. Not to mention, the conventional wisdom to fly on Tuesdays won’t necessarily save you much money. But some days within Thanksgiving week are significantly busier than others. If you can. Sally French writes for NerdWallet.
COLLECTION OPERATION TO FORGIVE $23M IN DEBTS UNDER ENFORCEMENT ACTION WITH N.C. AG A group of defendants — no stranger to enforcement actions — has agreed to forgive $23 million in payments, refund $225,000 to consumers, and pay $30,000 in fines after being sued for allegedly engaging in illegal collection practices. The defendants are also … The post Daily Digest – October 12.
In this episode of The Crypto Exchange , Troutman Pepper Consumer Financial Services Partner Kalama Lui-Kwan welcomes back Keith Barnett and Carlin McCrory to discuss recent interviews by Rohit Chopra from the CFPB related to consumer protection issues, true lender, actions against repeat offenders, as well as P2P platforms and the CFPB’s stance on fees.
CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.
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