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The world of regulatory compliance can be a complicated place, especially when it comes to debt collection. It can be tricky for non-security and compliance professionals. To help quickly get you up to speed on what auditors are referring to, we’ve put together a glossary, covering some of the most important compliance terms and acronyms. Action Plan: A plan to identify and facilitate remediation steps of current operating practices.
Many people hold misconceptions about filing for bankruptcy. Perhaps the most common misconception is the notion that filing for bankruptcy means that you lose all of your wealth and possessions. This, of course, is entirely incorrect. When filing for Chapter 7 or Chapter 13 bankruptcy, you’ll qualify for exemptions that allow you to keep some of your money and certain types of personal property.
By Delaney: One thing I did not consider when applying as a Collections Specialist is just how many ‘hats’ I’d come to wear in this role. We work with a variety of clients – dental offices, lawncare services, banks, veterinarians, restoration companies, and medical laboratories – just to name a few. The longer I have been with American Profit Recovery, the more I have grown familiar with the assortment of different industries that we recover funds for.
The Consumer Financial Protection Bureau wants debt collectors to know that if they are collecting or attempting to collect debts on behalf of nursing home clients that require caregivers to personally guarantee payment of a resident’s bills — which violates federal law — the collector may be in violation of the Fair Debt Collection Practices … The post CFPB Warns Collectors Working Nursing Home Accounts About Potential FDCPA Violations appeared first on AccountsRecovery.
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?
If your organization is facing slow cash flow, accounts receivable management may be the problem. Every invoice starts in accounts receivable so it's important to manage the procedures to reduce delinquent payments. Let's look at some efficient A/R practices to get you paid. How does accounts receivable increase collections?
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. Continuing to work past the traditional retirement age gives many the opportunity to add more money to their nest.
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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.
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. Continuing to work past the traditional retirement age gives many the opportunity to add more money to their nest.
While there may be people in the industry celebrating that the Hunstein case was dismissed by the Eleventh Circuit Court of Appeals yesterday, a pair of recently issued rulings from the Northern District of Illinois illustrate that the fight over the use of letter vendors to print and mail collection letters is not over — … The post Pair of NDIL Hunstein Cases Remanded Back to State Court for Lack of Standing appeared first on AccountsRecovery.net.
Today, the Consumer Financial Protection Bureau (CFPB) released an Issue Spotlight highlighting some of the difficulties and experiences heard from caregivers about being pursued over friends’ or family members’ alleged debts from nursing home facilities.
After two long years of home sellers calling all of the shots, home buyers are eager for the housing market to tilt in their favor. But modest improvements in the number of home listings and tempered demand due to higher mortgage rates aren’t likely to put all the power in buyers’ hands anytime soon. Home. Elizabeth Renter writes for NerdWallet. Email: elizabeth@nerdwallet.com.
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 National Highway Traffic Safety Administration (“NHTSA”) has recently taken enforcement action against a number of Registered Importers (RI) whose import documentation does not strictly comply with NHTSA laws and Regulations. This enforcement action may include lengthy RI registration suspension or termination. RI’s are advised that all certifications to NHTSA must be completely accurate and not false or misleading.
GETTING TO KNOW ALEAH HEATH OF UNIFUND AND PAYCE Aleah Heath isn’t just a top business development professional in the ARM industry, she is also a competitive barrel racer and has launched her own non-profit organization. More details here.This series is sponsored by Applied Innovation. JUDGE DENIES MOTION TO REMAND FDCPA CASE OVER TEXT MESSAGES, … The post Daily Digest – September 8.
Director Chopra delivered remarks at a virtual roundtable exploring challenges around nursing home debt collection practices, and the impact they can have on the financial wellbeing of caregivers, their families, and friends.
S-corp vs. C-corp The main difference between an S-corp vs. C-corp is how they’re formed, how they’re taxed and their ownership restrictions. A C-corp is subject to corporate tax rates and has no restrictions on ownership. An S-corp is a pass-through entity that reports its profits on the owners’ personal taxes, and ownership is restricted. Priyanka Prakash writes for NerdWallet.
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.
SMEs and Small Businesses in Europe are suffering from significant late payment issues. But this is down to lack of understanding of the processes involved, says new research from Vodeno. The company commissioned an independent survey among 2,004 senior decision-makers in SMEs across the UK (504), Belgium (500), France (500) and the Netherlands (500).
Sen. Elizabeth Warren [D-Mass.] is pushing the Department of Justice to implement new guidance related to how student loan debts are handled when individuals file for bankruptcy protection, saying the department needs “to do its part to ensure that borrowers who continue to struggle with student debt have a path toward additional relief.” Backstory: Student … The post Warren Demands DoJ Release Student Loan Bankruptcy Guidance appeared first on AccountsRecovery.net.
Everyone’s talking about rising inflation these days. And for the average American consumer, this means that the purchasing power of your dollar is diminishing. This is because inflation causes a general increase in the prices of goods and services. But if you hold or loan out commercial debt, you might be wondering how inflation affects you. Let’s look at some potential impacts.
Traveling with a credit card has enormous benefits. Perhaps most importantly, credit cards are typically safer to carry and use than cash. If your wallet gets stolen, you can contact your bank to lock your credit card, but any cash you were carrying is likely gone forever. If your credit card is used fraudulently, you. Sally French writes for NerdWallet.
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.
On September 8, 2022, in Hunstein v. Preferred Collection and Management Services, Inc. , No. 19-14434, the Eleventh Circuit Court of Appeals issued an en banc decision which departs significantly from the panel decision on Article III standing issues and statutory causes of action. The case has broad implications for how the Eleventh Circuit applies Article III standing analysis, particularly in consumer finance cases, but also in other cases where a statutory violation has a dubious relationsh
A District Court judge in California has denied a motion to remand a Fair Debt Collection Practices Act class-action lawsuit back to state court, ruling that the content of text messages and voicemails sent to the plaintiff by the defendant establish standing for the plaintiff’s claim to remain in federal court. Background: The plaintiff claimed … The post Judge Denies Motion to Remand FDCPA Case Over Text Messages, Voicemails Back to State Court appeared first on AccountsRecovery.ne
The Insolvency Service has announced that the up-front petition deposit fee paid by those initiating creditor bankruptcy and compulsory liquidation proceedings is rising from 1st November 2022. The Insolvency Service is introducing changes to the deposits paid to initiate creditor bankruptcies and compulsory liquidations. The petition deposit, the amount that needs to be paid up-front to seek an order, will be increasing in all cases where a petition is filed at court on or after 1 November 2022
If you injure someone in a car accident, bodily injury coverage helps to pay their medical costs. It can also cover their lost wages if they can’t work after the crash. Although this coverage won’t cover your own medical expenses, it applies to most other people involved in the accident, including: Other drivers and their. Kayda Norman writes for NerdWallet.
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.
Effective billing, like learning any skill, require s repetition. If you can use the same process for billing every time, it makes it much easier to repeat that process, including for collection purposes. But, as with many things that require repetition in business, the use of templates can help tremendously, in streamlining your law firm processes.
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 Aleah Heath of U
Let’s say your company has a corporate debtor that owes your company a sizable debt. You are concerned that the debtor is in poor financial condition, and that by the time a lawsuit commences and a judgment is obtained, the debtor will not have any assets available to satisfy the outstanding debt. You, therefore, want to try to place a restraint, known as a preliminary injunction on the debtor’s funds prior to obtaining a judgment.
September mortgage rates forecast Interest rates on fixed-rate mortgages are likely to remain fairly stable in the first three weeks of September. The forecast gets murkier at the end of the month. That’s because the Federal Reserve will update its interest rate policy Sept. 21. Rates often stabilize in the two or three weeks prior. Holden Lewis writes for NerdWallet.
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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