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.

Collections 208

Collections 208

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.

Debt collector 147

Debt collector Collection Agencies Collections Agency Collections 147

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.

Student Loans 145

Student Loans Student loans Loans Financial services 145

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

Student Loans 130

Student Loans Student loans Loans Collections 130

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.

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.

Collections 96

Collections Debt Recovery Government 96

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.

Banks 126

Banks Financial services 126

Account Recovery

SEPTEMBER 13, 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 Collections 130

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.

Government 90

Government 90

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.

Government 75

Government 75

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

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.

114

114

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

Fair Debt Collection 130

Fair Debt Collection Collections 130

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.

Banks 80

Banks 80

PDC Flow

SEPTEMBER 13, 2024

Transform your company’s document management and esignature processes. Now you can send multiple documents in a single request, saving time and boosting efficiency for your business with PDCflow! Streamline essential business communications — contracts, agreements, payment requests, etc. — to reduce administrative overhead and enhance your customer experience.

Education 66

Education Collections 66

Advertisement

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.

Collection Agencies

Consumer Finance

SEPTEMBER 11, 2024

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

Student Loans 113

Student Loans Student loans Financial services Loans 113

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.

Student Loans 130

Student Loans Student loans Loans 130

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

Lender 62

Lender Collections Debt Recovery Collection Agencies 62

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.

Law Firms 52

Law Firms Lawyers Creditors 52

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.

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.

Banks 78

Banks Consumer Credit Financial services 78

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.

Debt collector 130

Debt collector Collections Debtor 130

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.

Credit Management 52

Credit Management 52

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.

Collections 52

Collections Judgment Enforcement Lawyers Judgment 52

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

Consumer Finance

SEPTEMBER 12, 2024

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

Banks 60

Banks 60

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.

130

130

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

Education 52

Education Government Collections 52

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

Healthcare 52

Healthcare 52

Advertisement

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.

Collections