Collect More
AUGUST 14, 2022
When chasing payment, there are generally 5 contact methods used. They are: – The phone. – Personal visit. – SMS. – Letter. – Email. These are the big 5 and whilst there are others like Facebook messaging etc, you will almost always use one or a combination of these. Whilst doing nothing could still you get paid, you’re relying on someone else to remember to do something, so it’s never recommended.
Nerd Wallet
AUGUST 17, 2022
Rising prices (i.e., inflation) are everywhere you look — on the news, at the pump and in the grocery store. We notice these changes when we reach for our wallets, but it’s difficult to grasp what an extra dollar here or several dollars there mean over the course of several weeks, months or an entire. Elizabeth Renter writes for NerdWallet. Email: elizabeth@nerdwallet.com.
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Taurus Collect
AUGUST 19, 2022
Recovering money that customers owe your organisation – known as commercial debt collection is an inevitable part of every business. However, it does not have to be complicated or stressful for business owners. One of the effective ways to ensure a consistent stream of revenues is to strengthen your debt collection game. This also equips you to protect your business from any liabilities or losses.
Account Recovery
AUGUST 19, 2022
I don’t know if the dance that defendants in Fair Debt Collection Practices Act cases have to do around the issue of standing is a tap dance or more of a soft-shoe number, but there is definitely some graceful movements that are required. One defendant is being required to pay for trying to remove an … The post Judge Grants Motion to Remand FDCPA Class Action Back to State Court, Orders Defendant to Pay Attorneys’ Fees 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
AUGUST 19, 2022
As a business owner or accounts receivable specialist, you may have some fear around sending an account to a debt collections company. For one thing, you're entrusting a third party with your client relationship and your money and facing potentially unexpected costs. You may also have heard some really bad things about debt collections. Enterprise Collections LLC has been helping our clients recover debts for years, and we're happy to answer questions and ease any uncertainty.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Nerd Wallet
AUGUST 18, 2022
Selling a home these days isn’t as effortless as a year ago, when a seller could choose among competing buyers. “Overall, I’d say the buying/selling experience right now is comparable to the summer of 2019,” Dana Bull, a Realtor in the Boston area, said in an email. Today, “there’s still low inventory and it’s a. Holden Lewis writes for NerdWallet. Email: hlewis@nerdwallet.com.
Account Recovery
AUGUST 19, 2022
A defendant has filed a motion to dismiss a Fair Debt Collection Practices Act class-action lawsuit, arguing that the plaintiff does not have standing to sue because she did not suffer any damages when she received a collection letter offering to settle the debt for less than the full amount owed because she did not … The post Defendant Files MTD in FDCPA Class Action Over Settlement Offer in Letter appeared first on AccountsRecovery.net.
Sawin & Shea
AUGUST 17, 2022
There are two primary types of bankruptcies that a person might file when struggling to pay their debts: Chapter 7 and Chapter 13. In a Chapter 13 bankruptcy , the debtor agrees to a payment plan instead of having their property taken to pay creditors. In contrast, in a Chapter 7 bankruptcy , the bankruptcy trustee will often use property to help pay off creditors before the remaining debt gets discharged.
Prosperity Now
AUGUST 16, 2022
Over the past couple of years, especially during the COVID-19 pandemic, the connections between health and wealth have become more
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
AUGUST 18, 2022
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. Those of us who write and talk about money for a living tend to have our financial acts together. Liz Weston, CFP® writes for NerdWallet.
Account Recovery
AUGUST 18, 2022
GETTING TO KNOW ROXIE OLIVERO-WINFIELD OF MIDSTATE COLLECTION SOLUTIONS Continuous productivity sounds like a setting for a robot, but it’s how Roxie Olivero-Winfield describes her typical work day. While that is a lofty goal that everyone should aspire to, it takes a special kind of person to be able to pull it off. Someone, for … The post Daily Digest – August 18.
UK debt collections
AUGUST 16, 2022
The number of businesses in critical distress has increased by 37% in the past year. This is according to financial data from insolvency specialists Begbies Traynor. The latest Begbies Traynor Red Flag Alert report has revealed the financial strain continuing to be faced by thousands of British businesses. The research found that the number of companies rated as being in “critical financial distress” continued to rise, jumping by more than a third in Q2 2022 compared with the same period last ye
PBWT
AUGUST 16, 2022
The owners of an ambitious Hawaiian golf project in the Makaha Valley of Oahu said Aloha (hello) to new owners, and Aloha (goodbye) to old debt obligations. In an adversary proceeding, the collective owners of the Makaha Valley Country Club , golf courses, surrounding undeveloped land, and other related assets (the “Owners”) avoided obligations undertaken in connection with a loan extension provided by Tianjin Dinghui Hongjun Equity Investment Partnership (the “Lenders”).
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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
AUGUST 17, 2022
As a parent, grandparent or legal guardian, buying life insurance for children is one way to guarantee coverage for them later in life. Our list of the best life insurance for kids includes companies that offer standalone life insurance policies for children — not riders, which tend to expire when the child becomes an adult. Katia Iervasi writes for NerdWallet.
Account Recovery
AUGUST 18, 2022
A mortgage servicer will pay $3.2 million in fines and restitution to settle an enforcement action with the Attorney General of Massachusetts, which accused the company of engaging in unfair and deceptive conduct by “harassing” individuals with excessive debt collection calls, among other claims. A copy of the assurance of discontinuance in the action against … The post Servicer to Pay $3.2M to Settle Action with Mass.
UK debt collections
AUGUST 18, 2022
The owner of Madame Tussauds and London Dungeons has been slapped with a winding up petition by Experian. Merlin Entertainments, which owns theme parks such as Alton Towers and Legoland as well as some of London’s top cultural destinations, faces proceedings due to a dispute over a unpaid business debt. A winding up petition sees unpaid creditors take legal debt collection action against a company owing unpaid business debts.
True Accord
AUGUST 16, 2022
The Consumer Financial Protection Bureau (CFPB) quietly published on its website additional frequently asked questions (FAQs) on the Debt Collection Rule (i.e. Regulation F) relating to electronic communications and communicating during unusual or inconvenient times or places. The FAQ answers multiple questions, ranging from “is a debt collector required to honor a consumer’s request to opt out of electronic communications if the request does not conform to the debt collector’s opt-out instructi
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
AUGUST 17, 2022
The annual cost of owning and operating a new car ballooned nearly 11% in the past year to $10,728 — or $894 per month — according to AAA’s Your Driving Costs study. That represents a considerable hike from 2021, when it cost an estimated $9,666, or $805 per month, to own a new car. Costs. Cara Smith writes for NerdWallet. Email: cara.smith@nerdwallet.com.
Account Recovery
AUGUST 19, 2022
The Colorado Attorney General’s office has sent a memo to licensed collection agencies in the state, making sure they are aware that a new law is going into effect on September 1 that will change how medical debts are collected in certain situations. A copy of the entire memo can be accessed by clicking here. … The post Colorado AG Publishes Memo Detailing New Medical Collection Requirements appeared first on AccountsRecovery.net.
UK debt collections
AUGUST 18, 2022
In a recent podcast , The Small Business Commissioner, Liz Barclay, issued a warning that without confidence in cash flow, the UK’s small and micro businesses would be restricted from investing in new jobs, equipment and training or risk shutting shop. During the conversation with Saltare CEO, Anthony Persse, Liz Barclay raised the issue of late payments hindering small and micro businesses, because often they’re forced to stretch funds if invoices are delayed or paid late.
Troutman Sanders
AUGUST 19, 2022
On August 15, the Federal Reserve Board (Fed) issued final guidelines, outlining the tiered approach it will use when evaluating the growing requests from fintech firms and cryptocurrency companies for access to master accounts. The guidelines make clear that while requests from institutions with federal deposit insurance will be subject to a streamlined review, institutions that engage in novel activities, such as cryptocurrency, will undergo a far more extensive one.
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
AUGUST 15, 2022
Lenders will typically require a credit check when you apply for credit such as a mortgage, credit card or auto loan. Prospective landlords, employers and utility providers may also check your credit. If the check doesn’t go well, your application may be denied or you may get unfavorable loan terms, like a higher interest rate. Lauren Schwahn writes for NerdWallet.
Account Recovery
AUGUST 16, 2022
In a case that was defended by the team at Malone Frost Martin, the Court of Appeals for the Fifth Circuit has overturned certification of a Fair Debt Collection Practices Act class action, ruling that the plaintiff lacked standing to file her lawsuit because she did not suffer a concrete injury after receiving a collection … The post Appeals Court Vacates Class Certification in FDCPA Case appeared first on AccountsRecovery.net.
UK debt collections
AUGUST 15, 2022
Tenant evictions by bailiffs in the private rental sector (PRS) have increased by 39% say latest government figures released. The figures show that 3,405 households in the private rental sector were evicted by bailiffs in England between April and June 2022, up 39% on the previous quarter. It follows previous figures in May that showed that the number of ‘no-fault’ evictions issued in the first three months of this year was up 41% on the same period in 2020, which was largely before the COVID-19
Consumer Finance Watch
AUGUST 19, 2022
Wayne Streibich, Diana M. Eng, and Alina Levi Financial institutions, debt collectors, debt collection law firms, and consumer-facing businesses should take note that the Fifth Circuit Court of Appeals has ruled that merely asserting a statutory violation of the Fair … Continue reading → The post <strong>Fifth Circuit Holds Mere Statutory Violation of the FDCPA, Future Risk of Harm, Confusion, and Lost Time Are Insufficient to Establish Article III Standing</strong> a
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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.
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