Enterprise Recovery

SEPTEMBER 13, 2024

Outstanding invoices can be devastating to businesses of any size. The ripple effects of unpaid invoices can lead to cash flow problems, making it difficult to cover operational costs, pay employees, or invest in growth opportunities. Small businesses often lack the financial cushion that larger enterprises might have. However, even large corporations are not immune; accumulating unpaid invoices can disrupt financial planning and hinder strategic initiatives.

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Collections 204

Account Recovery

SEPTEMBER 13, 2024

Collector Facing FDCPA Class Action for Calling After Consumer Revoked Consent Via Text Plaintiff Loses Motion to Remand FDCPA Case Back to State Court Over Postage, ‘Productive’ Time Navient Banned From Servicing Federal Student Loans as Part of $120M Settlement With CFPB DFPI Announces More Changes to Definitions in Debt Collection Licensing Act WORTH NOTING: How to eat more like a vegetarian, even if you aren’t one … Five places to visit if you are looking to enjoy the Fall foliag

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Student Loans Student loans Loans Collections 130

American Profit Recovery

SEPTEMBER 9, 2024

By Sabrine: Who would have thought that a collection agency would have such great google reviews?! Prior to starting at American Profit Recovery back in 2017, I relied on APR’s reviews online to determine whether I would give this company a chance or not. Now, in 2024, the reviews are a tool used across our various departments daily as well as a talking point for potential employees coming in for interviews.

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Debt collector Collection Agencies Collections Agency Collections 130

Consumer Finance

SEPTEMBER 11, 2024

Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed order against the student loan servicer Navient for its years of failures and lawbreaking.

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Student Loans Student loans Loans Financial services 145

Speaker: Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

UK debt collections

SEPTEMBER 12, 2024

The Charity, National Debtline says action is needed to improve debt collection practices at a effectively-bankrupt authority. Financially-stricken Birmingham City Council sent almost 60,000 debts to bailiffs last year – as a charity warned the tactic risked pushing those who owed cash to despair. The authority said it referred more than 58,500 cases in 2023-24, with the number increasing again following a drop after the pandemic.

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Collections Debt Recovery Government 97

Jimerson Firm

SEPTEMBER 9, 2024

On July 1, 2024, HB 59 became effective. This bill created new requirements for Homeowners’ Associations (“HOA”) to provide copies of certain records to members of the HOA, including the HOA’s declaration of covenants, amendments to the declaration of covenants, and the HOA rules. HOAs, as well as Community Association Managers, must ensure that they are aware of these new changes, and ensure that they are in compliance.

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Government 75

Consumer Finance

SEPTEMBER 10, 2024

The CFPB ordered TD Bank to pay $7.76 million to tens of thousands of victims because of the bank’s illegal actions.

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Banks Financial services 128

UK debt collections

SEPTEMBER 10, 2024

Over 3.6 million (72%) small and medium-sized enterprises (SMEs) have some form of outstanding late payment from customers, leaving them £96,772 out of pocket on average, according to new research from Aldermore’s SME Growth Index. The total value of late payments has increased from the end of 2023, up 41% from £68,715 with outstanding balances continuing to present huge challenges for SMEs.

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Government 91

Account Recovery

SEPTEMBER 13, 2024

The price of a stamp and “loss of productive time” were enough for a federal judge in Oklahoma to deny a plaintiff’s motion to remand a Fair Debt Collection Practices Act case back to state court where it was originally filed, saying those monetary losses were sufficient for the plaintiff to have standing to sue. The background: The plaintiff accused the defendant of violating the FDCPA by falsely reporting that the plaintiff had disputed the underlying debt, and then furnishin

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Fair Debt Collection Collections 130

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

True Accord

SEPTEMBER 12, 2024

TrueAccord proved more effective for late-stage collections and better aligned with online lender’s empathetic approach to financial services. For one online lender, providing online personal loans to underserved consumers was not only a core service for their business but also a key part of their company mission. This tech-enabled financial platform offers safe, simple, and affordable credit access to consumers with varied financial histories who lack traditional options, emphasizing empathy an

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Lender Collections Debt Recovery Collection Agencies 62

Consumer Finance

SEPTEMBER 12, 2024

The CFPB sued Horizon Card Services and its CEO Robert Kane for tricking consumers into signing up for its expensive membership credit card.

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UK debt collections

SEPTEMBER 13, 2024

London estate and lettings agent Benham and Reeves has uncovered a growing wave of fraudulent activity with rogue tenants targeting landlords in the capital. With forged IDs, doctored documents, and undeclared financial issues becoming increasingly common, the firm reports that fraudsters are finding new ways to exploit the city’s high-demand rental market.

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Banks 81

Account Recovery

SEPTEMBER 13, 2024

The Consumer Financial Protection Bureau yesterday announced a proposed settlement with Navient, one of the largest student loan servicers in the country. The settlement would require Navient to pay $120 million in fines and restitution to consumers while also banning it from servicing federal student loans. if the settlement is approved by a federal judge, it will bring an end to a case that began seven years ago.

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Student Loans Student loans Loans 130

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Collection Agencies

NCBA Law Practice Management Blog

SEPTEMBER 13, 2024

In many law firms – especially the small ones – managing attorneys are held hostage by their staffpersons. And, when the staffpersons are aware that that is the situation – thi ngs can quickly turn toxic. There are plenty of law firms, where staff are doing whatever they want, and dictating process and strategy to the attorneys they work for – because the lawyers believe they can’t let go of the staff, since they’re too important to the running of the law firm.

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Consumer Finance

SEPTEMBER 11, 2024

Director Chopra delivered remarks on the CFPB’s enforcement action against Navient.

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Student Loans Student loans Financial services Loans 120

On Guard

SEPTEMBER 12, 2024

Download the research Despite AI presence in the current work routine, experts seem to agree that the need for technology oversight and maintaining customer relationships in the finance sector makes human involvement always relevant. For example, over half of finance professionals in the Netherlands (55,5%) expect the role of the credit manager to focus more on strategic advice and less on operational tasks in the coming years.

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Credit Management 52

Account Recovery

SEPTEMBER 13, 2024

The California Department of Financial Protection and Innovation (DFPI) has announced a second round of modifications to proposed regulations under the Debt Collection Licensing Act. These changes, released earlier this week, primarily affect the definition of “net proceeds” and annual reporting requirements for licensed debt collectors.

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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.

FFGN COLLECT NY

SEPTEMBER 11, 2024

A debt collection attorney is an attorney like all others. All attorneys graduate from law school with a JD, or juris doctor. All attorneys receive this degree, regardless of their specialty or focus during their career. Some attorneys may choose to further their legal education by pursuing a secondary degree, such as an LLM (master of laws). Attending and successfully graduating from law school does not qualify one to practice law.

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Consumer Finance

SEPTEMBER 10, 2024

The CFPB ordered TD Bank to pay $7.76 million to tens of thousands of victims because of the bank’s illegal actions.

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Banks Consumer Credit Financial services 79

Jimerson Firm

SEPTEMBER 11, 2024

Part I: New Educational and Regulatory Requirements for HOA Board Members, Community Association Managers, and Homeowners’ Associations On July 1, 2024, CS/CS/HB 1203 became effective, which created significant changes impacting homeowners’ associations (“HOA”) in Florida. Those changes include new educational requirements for community association managers and HOA directors, access to certain HOA records, prohibitions against a HOA limiting or placing requirements on the interior of a home, an

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Education Government Collections 52

Account Recovery

SEPTEMBER 12, 2024

Three reports released by the Census Bureau this week delve into the state of household income, poverty, and health insurance, providing important insights into the state of consumers’ finances. For the first time since 2019, household income improved on a year-over-year basis between 2022 and 2023, growing 4%, while the official poverty rate fell slightly.

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Finance Transformation Myths Busted Over 75% of organizations struggle to define the right success metrics to benchmark the impact of their finance transformation investment. Whether you are just initiating your digital transformation journey or planning to pitch your next AI project to leadership, without the right metrics and a rigorous tracking process - all your efforts might go to waste!

The Kaplan Group

SEPTEMBER 10, 2024

A new study by The Kaplan Group analyzing Bureau of Labor Statistics (BLS) wage data provides insights into the disparities in salaries across states and occupations within the United States. By examining mean annual salaries, the study identifies the highest-paying states, occupations, and metropolitan areas. Key Takeaways Massachusetts is the state with the highest mean annual salary at $80,330 , while Mississippi lags behind as the only state below $50,000 Management Occupations offers the hi

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Healthcare 52

Consumer Finance

SEPTEMBER 12, 2024

CFPB General Counsel Seth Frotman spoke at the Poverty Law Conference about consumer financial law and low-income families.

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Banks 60

Jimerson Firm

SEPTEMBER 11, 2024

Part II: New Rights and Protections for Homeowners On July 1, 2024, CS/CS/HB 1203 became effective, which created significant changes impacting homeowners’ associations (“HOA”) in Florida. Those changes include new educational requirements for community association managers and HOA directors, access to certain HOA records, prohibitions against a HOA limiting or placing requirements on the interior of a home, and prohibitions against a HOA from preventing a homeowner from installing or displayin

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Education Government 52

Account Recovery

SEPTEMBER 12, 2024

Getting to Know Joey Nichols of CBC Judge Grants MSJ for Defense in FDCPA, TCPA Case Over Attorney Representation CFPB Orders TD Bank to Pay $28M For Credit Reporting Issues Household Income Grows in 2023 Regina Slowey Joins Barron & Newburger, P.C. as New President and CEO WORTH NOTING: What you need to know about home energy rebates that are on the way … Habits to help you stay out of credit card debt … Do you have a dime worth $500,000 in your pocket or change jar?

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