PDC Flow

JULY 26, 2023

In a recent PDCflow sponsored webinar on accountsrecovery.com , a panel of digital collection experts sat down to discuss the differences they’ve encountered in text messaging and email for debt collection. Shawn Farris, Brandy Rouselle, and Chris Repholz discussed which channels they each prefer and the strengths of each. They also covered how using SMS messages together with email for debt collection in a single strategy boosts engagement and builds trust.

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CICM

JULY 26, 2023

Assessing Creditworthiness A Credit Controller are responsible for evaluating the creditworthiness of a potential or existing customer. They analyse data from sources such as credit reports, company accounts and past payment history, and use this to determine appropriate limits, control measures and payment terms. Credit controllers will make recommendations based on their findings.

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Collections Law

JULY 25, 2023

We seek to freeze a debtor’s assets prior to obtaining a judgment so that there is an identifiable resource from which to get you paid. Once you get that judgment, we seek leave of the court to direct the person or entity which is holding the debtor’s seized assets to pay you. If your debtor owns a cash business, we may seek a “keeper attachment.

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Consumer Finance

JULY 25, 2023

Today, the Consumer Financial Protection Bureau (CFPB) released a new Supervisory Highlights report which found unfair, deceptive, and abusive acts or practices across many consumer financial products.

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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.

Account Recovery

JULY 25, 2023

A bipartisan bill has been introduced in the House of Representatives that would require creditors establish a dedicated phone line to assist older Americans who may have been scammed or otherwise have questions about possible billing errors. H.R. 4743, the Reporting Instances of Non-authorized Grift (RING) Act of 2023, was introduced last week by Rep.

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Troutman Sanders

JULY 28, 2023

On July 24, the California Office of Administrative Law approved the Civil Rights Council’s (the Council) proposed amendment to California’s Employment Regulations Relating to Criminal History, which are set to become effective on October 1, 2023. Among other changes, the amendment modifies the existing regulations regarding employers’ investigation of a job applicant’s criminal history.

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Credit Corp

JULY 25, 2023

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Paying off your car loan can lower your credit score, but the effects are usually temporary. Are you thinking about paying off your car loan early?

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Account Recovery

JULY 25, 2023

Attorneys Dale Golden, Charles McHale, Sangeeta Spengler and Joseph Proulx are joining forces with attorneys Xerxes Martin, Loraine Lyons, Patrick Watts, Heath Morgan, Jacob Bach, Matthew Bell, and Justin Han to create a highly experienced and geographically diverse law firm that will expand its support the accounts receivable management industry.

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Collections Law

JULY 28, 2023

Large businesses and corporations that encounter nonpayment of business debt may assume that getting a court judgment against the non-paying company is all that is necessary. Unfortunately, that is not always the case. There are companies who will still withhold payment even after a court judgment. When they do, you need an attorney who knows how to collect on a judgment.

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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

JULY 24, 2023

Director Chopra provided prepared remarks at an event hosted by the U.S. Department of Housing and Urban Development on tenant rights.

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Credit Corp

JULY 25, 2023

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. You can contact Equifax®, Experian®, or TransUnion® online, over the phone, or by mail to unfreeze your credit. The process is free, but it may take up to an hour to fully take effect.

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Account Recovery

JULY 28, 2023

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?

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Troutman Sanders

JULY 28, 2023

On July 27, the Consumer Financial Protection Bureau (CFPB) released a new blog post , positing that cashflow data, broadly defined as the various inflows, outflows, and accumulated amounts in a consumer’s checking and savings accounts, may provide lenders with a better picture of a consumer’s ability to repay their loans than using a credit score. To perform its analysis, the CFPB used responses from its 2019 Making Ends Meet survey and the linked Consumer Credit Panel (CCP).

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Collection Agencies

Consumer Finance

JULY 27, 2023

This weekend, 118 million Americans could be living somewhere with a heat index above 100 degrees.

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Credit Corp

JULY 25, 2023

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Can you pay a loan with a credit card? Yes, paying a loan with a credit card is sometimes possible. Yet, whether or not you can do so depends on factors such as the lender’s policies or the type of loan you want to pay off.

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Account Recovery

JULY 28, 2023

The march on standing at the District Court level has created a new dynamic — or at least the threat of a new dynamic — for collection operations, and that is facing Fair Debt Collection Practices Act cases in state courts.

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Fair Debt Collection Collections 130

Troutman Sanders

JULY 28, 2023

According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), and the Telephone Consumer Protection Act (TCPA) were down for the month of June. This reverses the upward swing seen in these filings in May. Complaints filed with the Consumer Financial Protection Bureau (CFPB) were down in May and remained down for June.

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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.

UK debt collections

JULY 28, 2023

1 in 5 Home care providers facing collapse Dozens of home care companies in England fear collapse because invoices are going unpaid by councils and the NHS. Hundreds of millions of pounds in unpaid bills are threatening parts of a care industry already stretched by a recruitment crisis and rising wages, according to research by the Institute of Health and Social Care Management (IHSCM).

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Credit Corp

JULY 25, 2023

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Can you pay a loan with a credit card? Yes, paying a loan with a credit card is sometimes possible. Yet, whether or not you can do so depends on factors such as the lender’s policies or the type of loan you want to pay off.

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Account Recovery

JULY 28, 2023

The Connecticut Department of Banking has fined a collection agency $15,000 for operating in the state without a license, the second time the company has been fined for doing so. A copy of the order against Professional Debt Mediation can be accessed by clicking here.

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Troutman Sanders

JULY 28, 2023

On June 6, Nebraska Governor Jim Pillen signed into law Legislative Bill 92 , which, among many other subjects, amends the Nebraska Installment Loan Act (the NILA). Previously, a license was required for a lender seeking to take advantage of the usury authority provided by the NILA and also for any person that holds or acquires any rights of ownership, servicing, or other forms of participation in a loan under the NILA.

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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

FFGN COLLECT NY

JULY 27, 2023

Do businesses have to pay for defective goods they receive? Let’s say your company orders 1,000 vacuum cleaners from a distributor. You receive the vacuum cleaners and perform a general inspection. As far as you can tell, the goods seem in working order. Your company then proceeds to sell the vacuums to other buyers. After 30 days, you begin to receive calls from your buyers that the vacuums purchased no longer seem to be working.

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Credit Corp

JULY 25, 2023

Credit journeys begin with credit reports. With a copy of your report in hand, you can generate a plan: you can get out of debt, remove errors, or apply for great-value financial products, for example. If you don’t know how to do a soft credit check—or if you’re worried that you’ll damage your credit score by pulling a copy of your credit report—you’re in the right place.

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Account Recovery

JULY 28, 2023

CHICAGO — A frequent topic of conversation among attendees here at ACA International’s annual convention is where companies are finding quality job candidates these days and how they are managing with staffing levels that are well below what they would like to be.

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UK debt collections

JULY 27, 2023

An improvement in Small Business jobs and sales growth across UK small businesses in June has been largely offset by increasing late payments and a slowdown in wages growth, according to the latest data from global small business platform Xero. Xero’s Small Business Index, based on anonymised and aggregated data from hundreds of thousands of small businesses, rose three points across May and June, recovering slightly after falling by 11 points in April.

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Collections