Debt Recoveries
JANUARY 25, 2021
Insurance claims recoveries, in this instance, refer to claiming back the cost of repairs for the insured’s loss from the at-fault party. Insurance claims recoveries seem to be the very last process completed in the insurance claims process, however, I believe it should be the first. In the never-ending quest to keep the insured and other parties happy, we process the claims and settle the cost of repairs.
Nerd Wallet
JANUARY 25, 2021
Budget? Me? Heck, I can’t even stand to read the directions when I have to assemble something, you say. Have a written plan for my finances? You’re kidding, right? If this sounds familiar, we feel you. Budgeting isn’t for everyone. But here’s the thing: You don’t have to follow a budget to keep your finances. Hal M. Bundrick, CFP writes for NerdWallet.
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Burr Forman
JANUARY 26, 2021
PPP loans received by individuals and businesses under the CARES Act will be audited (“reviewed”) by the SBA. The new Economic Aid Act also requires the SBA to submit a forgiveness audit plan within 45 days after enactment and report updates every 30 days thereafter. Additionally, the Economic Aid Act now allocates $50 million for PPP audits and fraud mitigation efforts.
Account Recovery
JANUARY 29, 2021
CFPB ACTING DIRECTOR PLEDGES ‘AGGRESSIVE ACTION’ TO ENSURE COMPANIES ‘MEET THEIR OBLIGATIONS’ DURING PANDEMIC In his first public remarks, Dave Uejio, the acting director of the Consumer Financial Protection Bureau yesterday shared a statement he had sent to all the agency’s employees, pledging to take “aggressive action” to ensure companies regulated by the CFPB “follow … The post Daily Digest – January 29.
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.
Credit Corp
JANUARY 28, 2021
GameStop, a dying video game retailer, has blown past epic proportions to the point of hitting all-time highs in the stock market. A few weeks ago, the company ( stock trading as ticker: GME) traded around lows of ~$19. As of January 27th, 2021, the GameStop stock has reached an all-time high of $350. That’s a ~1700 percent increase! Currently, GameStop’s market capitalization is $24 billion, previously $500-$700 million.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Nerd Wallet
JANUARY 29, 2021
Shutdowns, layoffs and salary cuts brought on by the coronavirus pandemic have left millions of Americans searching for new sources of income. Those who’ve recently turned to gig work may be weeks away from a financial surprise in the form of unexpected tax bills and insurance coverage fine print. “These are the two key items. Kelsey Sheehy writes for NerdWallet.
Account Recovery
JANUARY 29, 2021
Just two weeks after it announced it, the Office of the Comptroller of the Currency yesterday said it was hitting the pause button on a rule intended to ensure that banks to provide fair access to services and capital — a response to Operation Choke Point — so that whomever is confirmed to be the … The post OCC Hits Pause Button on New Fair Access Rule appeared first on AccountsRecovery.net.
Nexa Collect
JANUARY 24, 2021
Covid-19 changed everything for nursing homes. There was a very high fatality rate of senior citizens in nursing homes nationwide, bringing in greater scrutiny of federal regulators on how the industry will operate in the future. . Nursing homes are seen as the next level of long-term, residential, maintenance care for patients who are otherwise stable but in poor or declining health and unable to fully care for themselves.
Credit Corp
JANUARY 28, 2021
GameStop stock has risen exponentially, but is this risky investment strategy right for you? The internet has been ablaze as GameStop’s stock price ($GME) has rocketed from $19.95 on January 12, 2021, to a high of $483.00 on January 28, 2021. To make a long story short, this happened because some clever Redditors discovered that 140% of the available shares had been shorted (how this is possible is a story for another day).
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
JANUARY 27, 2021
It’s no secret that 2020 was one of the worst years to work in travel, with an estimated 100 million direct tourism jobs at risk worldwide, according to an August 2020 policy brief from the United Nations. But there’s one tourism job that has become more relevant than ever: the travel agent. Before coronavirus, it. Sally French writes for NerdWallet.
Account Recovery
JANUARY 28, 2021
GETTING TO KNOW JAMIE WELSH OF HARVEST STRATEGY GROUP Reading his answers to the questions below, it is easy to see how much Jamie Welsh cares about the important things in his life. And while one of them might be the New York Yankees, those of us in the ARM industry are fortunate that working … The post Daily Digest – January 28. Getting to Know Jamie Welsh of Harvest Strategy Group; How to Build Challenges that Improve Performance appeared first on AccountsRecovery.net.
UK debt collections
JANUARY 28, 2021
The coronavirus pandemic has exacerbated Business late payments for UK businesses, new figures from the Institute of Directors reveal. Over a third of company directors were polled by the IoD. They said they had faced an increase in late payments during the pandemic. Almost one in ten directors reported that they had experienced significantly more problems than usual.
Fico Collections
JANUARY 29, 2021
Today it gives me great pleasure to announce the winners of the 2021 FICO® Decisions Awards. . This year we received a bumper crop of entries from more than 30 different companies across the globe from banking and finance, retail, telecommunications, automotive, FMCG and healthcare. It was clear from the submissions that digital transformation was the name of the game, with more than a few companies declaring they had accelerated their plans due to the global pandemic.
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Nerd Wallet
JANUARY 29, 2021
This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. Amid all the freneticism of the Reddit-hedge fund battle, a simple fact seems to have gone unnoticed: It means very little to the majority. Chris Davis writes for NerdWallet.
Account Recovery
JANUARY 27, 2021
If you had $5,000 in credit card debt, and a random amount of savings between $1,000 and $10,000, how much of that savings would you use to pay down that debt? That was the hypothetical question that researchers at the Consumer Financial Protection Bureau put to consumers recently, seeking to understand the extent to which … The post CFPB Experiment Illustrates How Much of Their Savings People are Willing to Use to Pay Down Debt appeared first on AccountsRecovery.net.
Jimerson Firm
JANUARY 28, 2021
When a lender obtains a final judgment of foreclosure from the court, the mortgaged property is sold at public auction and, if bought by someone other than the foreclosing lender, the proceeds are applied to the debt owed by the delinquent borrower. However, sometimes the sale proceeds are insufficient to satisfy the full amount of debt owed. In this event, Florida law permits a lender to get a deficiency judgment against the borrower for the amount of the final judgment of foreclosure minus the
Fico Collections
JANUARY 25, 2021
Customer identity management is a term that is subject to a number of definitions. I will define it here for financial services and regulated companies as the business strategy and processes by which an organization establishes who a customer is and ensures that activity on their accounts is carried out by them. The goal of CIM is to meet regulatory rules and legislation, prevent fraud and financial crime, and manage risk—all while making it simple for customers to transact.
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
JANUARY 25, 2021
This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. The COVID-19 pandemic and shutdown upended our lives on multiple fronts. While enduring widespread unemployment and the economic downturn, many Americans leaned on their.
Account Recovery
JANUARY 25, 2021
The Attorney General of Washington state is seeking to increase the penalty for violating the state’s consumer protection act by more than 500%, claiming that the increase is overdue because the fine limit has not been increased since the state law went into effect five decades ago. The proposed legislation put forth by Attorney General … The post Washington AG Proposes Increasing Consumer Protection Act Fines by 500% appeared first on AccountsRecovery.net.
Jimerson Firm
JANUARY 25, 2021
When underwriting and servicing SBA loans, it is important for lenders and CDCs to ensure appropriate insurance coverages are in place to protect the collateral. The SBA does require some types of insurance coverages to be in place on all loans. However, it is the responsibility of lenders and CDCs to carefully consider whether other types of insurance coverage should be in place to help minimize risks and increase chances of recovery on all SBA loans.
PDC Flow
JANUARY 26, 2021
Managing your business while staying informed about current industry events can be difficult to balance. Luckily, with podcasts becoming more popular than ever, you can access knowledge from industry experts at any time. . However, wading through all of the content available can be intimidating. Here are just some of the many financial services podcasts available centering on accounts receivable , consumer finance and other aspects of business that can strengthen your skills and keep your compan
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
JANUARY 28, 2021
Families battered by the pandemic recession soon may discover that the tax refunds they’re counting on are dramatically smaller — or that they actually owe income tax. Congress offered a partial solution, but the fix hasn’t been widely publicized, consumer advocates say. Refunds are crucial to many lower- and moderate-income households, which use the money.
Account Recovery
JANUARY 28, 2021
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 Jamie Welsh of H
Jimerson Firm
JANUARY 27, 2021
If the borrower is unable to pay the full amount owed on an SBA loan after all of the collateral has been liquidated, the borrower may submit an “offer in compromise.” An offer in comprise allows borrowers to settle their debt on the SBA loan for less than the full amount owed. SBA lenders should understand the appropriate protocols after receiving an offer in compromise from a borrower, including what an offer in compromise is, when it is appropriate, the general requirements, and the process f
Public Citizen
JANUARY 24, 2021
by Jeff Sovern. My new article is now up on SSRN: Six Scandals: Why We Need Consumer Protection Laws Instead of Just Markets. Here' is the abstract: Markets are powerful mechanisms for serving consumers. Some critics of regulation have suggested that markets also provide consumer protection: for example, Nobel Prize-winning economist Milton Friedman said “Consumers don’t have to be hemmed in by rules and regulations.
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