FFGN COLLECT NY
MARCH 31, 2022
Some creditors voluntarily decide to participate in mediation for debt collection. For others, mediation may be mandatory based on the terms of the underlying agreement between the parties or ordered by the court. As such, it’s important to understand how non-binding mediation can affect your overall debt collection case. One of the most important aspects of debt collection is maximizing a client’s return on investment.
Nerd Wallet
MARCH 26, 2022
Tax refunds. Child tax credits. COVID-19 relief checks. We dream of the next unexpected bundle of money that lands in our lap. Perhaps it’s a few hundred dollars earned from a garage sale, maybe even more from a job bonus — or hundreds of thousands from a winning lottery ticket or inheritance. Our minds race. Hal M. Bundrick, CFP® writes for NerdWallet.
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True Accord
MARCH 31, 2022
It’s the end of the quarter and, as always, we at TrueAccord are looking at consumer debt trends that will impact our industry and beyond. The four key trends we’re studying are: resumed foreclosure activity, extensive medical bills, the end of child tax credits and historically high inflation. Add these all together and the financial outlook for consumers, especially those in debt, is scary.
Account Recovery
APRIL 1, 2022
As part of its full-court push into fintech and financial services, Apple announced yesterday the creation of a new service that will lock the iPhones of individuals with unpaid debts and only allow them to be unlocked after a payment has been made. The new service coincides with published reports indicating that the technology giant … The post Apple Enters Collection Market; Will Lock iPhones Until Debts are Paid 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
APRIL 1, 2022
A solid cash flow is essential to the success of any growing business. Good relationships with your business partners are just as important. Supply chains involve several businesses along a network to provide an end product to a customer. If any payments are delayed along the way, it can cause tension within the relationships and challenges with the manufacturing process.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
In the Red
APRIL 1, 2022
As discussed in an earlier post called “ Moving Up: Bankruptcy Code Dollar Amounts Will Increase On April 1, 2022 ,” various dollar amounts in the Bankruptcy Code and related statutory provisions were increased for cases filed on or after today, April 1, 2022. This information sheet has a list of all of the dollar amount changes now in effect. The official bankruptcy forms have also been revised to reflect these new dollar amounts.
Account Recovery
MARCH 31, 2022
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 Amber Russo of K
Enterprise Recovery
MARCH 28, 2022
If you're stalling on the idea of following up on past due invoices, don't fret. Sometimes it takes a little research to move forward on something that's uncomfortable or unfamiliar. We've pulled together some reasons why you might be hesitant and how to move past those obstacles. Here are some pros and cons of sending your clients to collections.
Consumer Finance
MARCH 30, 2022
The Consumer Financial Protection Bureau (CFPB) today sanctioned Edfinancial Services, a student-loan servicer, for making deceptive statements to student loan borrowers and misrepresenting their forgiveness and repayment options to them.
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.
Nexa Collect
MARCH 26, 2022
The first step in shortlisting a collection agency is to ask them to submit a Request-For-Proposal (RFP) so that you can pick the best collection agency at the best price. Here are the most important points to include in your RFP questionnaire. Is your collection agency nationally licensed or not? (If not, which all states are you licensed in?). What services do you offer – Check all those which apply (Collection Letters, Collection Calls, and Legal)?
Account Recovery
MARCH 31, 2022
The Court of Appeals for the Ninth Circuit has upheld the dismissal of a Fair Debt Collection Practices Act case in which a defendant was accused of violating the statute by garnishing the plaintiff’s wages to enforce a nonfinal judgment, ruling that alleging a violation of Washington’s state garnishment law is not a de facto … The post Appeals Court Upholds Dismissal of FDCPA Suit Over Garnishment appeared first on AccountsRecovery.net.
Nerd Wallet
MARCH 31, 2022
Cryptocurrencies are not traded on Wall Street in the same way stocks are. Still, several publicly traded companies are deeply tied to the world of cryptocurrency or other digital assets. Cryptocurrency stocks are shares in those companies — typically businesses that operate crypto exchanges, invest in cryptocurrencies themselves or create computer equipment used to mine.
Better Credit Blog
APRIL 1, 2022
It’s smart to know how to remove negative items from your credit report, especially if you are soon to be applying for a mortgage or car loan. In fact, you can remove something from your credit history before seven years pass. Whatever you’re dealing with, late payments, collections, charge-offs, or foreclosures, the following techniques can clean up your credit quickly.
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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.
Consumer Finance
MARCH 29, 2022
The Consumer Financial Protection Bureau (CFPB) issued a report today showing that credit card issuers charged $12 billion in late fees in 2020. Late fee penalties are charged in addition to interest when a cardholder does not make the minimum payment by the due date.
Account Recovery
APRIL 1, 2022
A District Court judge yesterday granted a plaintiff’s motion for summary judgment, ruling that a collection agency that allowed collectors and other staff to work remotely violated the Fair Debt Collection Practices Act and ordered the agency to bring all employees back to the office. The case is expected to spawn other lawsuits across the … The post Judge Grants MSJ For Plaintiff in FDCPA Case Over Collectors Working Remotely appeared first on AccountsRecovery.net.
Nerd Wallet
MARCH 29, 2022
Traveling during the COVID-19 pandemic is still a divisive topic for some Americans. In the post-vaccine era, some Americans are making travel plans, while others continue playing it safe. Regardless of where they stand on travel, over half of Americans (62%) agree they would feel more comfortable traveling if certain COVID-19 precautions were in place, Melissa Lambarena writes for NerdWallet.
Prosperity Now
MARCH 30, 2022
Picture this: You are completing the quality review with a client, and all was going well, but now they are
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.
Better Credit Blog
APRIL 1, 2022
Bankruptcy can be scary, but it’s important that you arm yourself with as much information as possible to navigate the process. In this article, we’ll walk you through some of the most commonly asked questions about bankruptcy, how it can affect your credit score, and how to get a bankruptcy removed. Skip to DIY Steps. Is it Even Possible to Get a Bankruptcy Removed From Your Credit Report?
Account Recovery
APRIL 1, 2022
COLLECTOR SUED FOR USING WRONG SCISSORS ICON, TIME ZONE NOTATION, BULLET POINT SHAPE IN MVN It probably took a little while longer than everyone expected, but a class-action lawsuit has been filed against a collection agency for violating the Fair Debt Collection Practices Act because the Model Validation Notice it sent had the wrong scissors … The post Daily Digest – April 1.
Nerd Wallet
MARCH 30, 2022
A top-tier business credit score can unlock preferred rates on financing and business insurance, and it can also open the door to potential partnerships and trade credit arrangements. Unlike personal credit scores, which are standardized and available for free, each business credit bureau uses a different scoring system, and you often need to pay to.
Prosperity Now
MARCH 30, 2022
Women’s History Month is not only a celebration of the progress and impact that women have made in the economy,
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?
Better Credit Blog
APRIL 1, 2022
A good credit score allows you to get better rates on car or mortgage loans just to name a few. If you fall into hard times, the inability to pay off your credit card bills or student loans can result in your debts being transferred to a debt collection agency. Transworld Systems, Inc (TSI) is a well-known debt collection agency in the United States that works with individuals, large companies, and organizations to assist them in debt recovery and past due accounts.
Account Recovery
APRIL 1, 2022
It probably took a little while longer than everyone expected, but a class-action lawsuit has been filed against a collection agency for violating the Fair Debt Collection Practices Act because the Model Validation Notice it sent had the wrong scissors icon on it, among other issues. A copy of the lawsuit in the case of … The post Collector Sued for Using Wrong Scissors Icon, Time Zone Notation, Bullet Point Shape on MVN appeared first on AccountsRecovery.net.
Nerd Wallet
MARCH 29, 2022
The costs and deductibles associated with the different parts of Medicare may change each year. The Centers for Medicare & Medicaid Services, or CMS, releases the new costs for Medicare Parts A and B and income-related monthly adjustment amounts every fall for the following year. Medicare is the federal government health insurance program for people.
Prosperity Now
MARCH 30, 2022
Picture this: You are completing the quality review with a client, and all was going well, but now they are
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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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