Sat.Feb 12, 2022 - Fri.Feb 18, 2022

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Top 5 Small Business Debt Collection Tips

UK debt collections

Small Business Debt Collection has never been more important as the UK economy continues to recover from the pandemic. Regardless of the damage covid has caused, the problem of small businesses not getting paid is nothing new. The past couple of years has seen the pandemic fuel a worsening problem for Small Business invoices not being paid on time. Small Business Debt Collection is growing across the UK.

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Can a Rule 65 injunction help you collect your debt?

Collections Law

When a company must go after a debtor for payment, each day that they don’t have access to the money they are owed makes a difference. If you are in this situation, it is important that you do everything you can to secure payment of your debt, even before you have your judgment hearing. Massachusetts Rule 65 of Civil Procedure allows those in litigation to bring a motion for an injunction against the other party.

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4 Ways to Tame Financial Stress and Save for Retirement

Nerd Wallet

Maybe you feel like you don’t earn enough. Or you don’t understand how investing works. Or maybe you can’t organize your finances. These are factors that can lead to financial stress and set back your retirement savings. A lack of assets and money management challenges are contributing factors to high levels of financial anxiety and. Elizabeth Ayoola writes for NerdWallet.

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CFPB Opens Rulemaking Petition Doors to General Public

Account Recovery

The Consumer Financial Protection Bureau announced yesterday that it wants to make it easier for John Q. Public to get new rules enacted or current rules changed, while requiring lobbyists and others “who are paid to influence the agency’s rulemaking agenda behind the scenes” to have their petitions vetted by the public. The announcement is … The post CFPB Opens Rulemaking Petition Doors to General Public appeared first on AccountsRecovery.net.

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Solve Your Firms Automation Complexities Once and For All

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.

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How to Collect Past-Due Customer Payments

Enterprise Recovery

Enterprise Recovery is a debt collections agency that specializes in B2B account recovery. We do our best to recover what's owed to hard-working companies so they can retain working capital and continue their successful business ventures. We also educate on the best practices required to collect those debts before turning to a professional debt collections company.

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Indications that its Time to Seek a Debt Collector’s Help

Nexa Collect

Many businesses hesitate to hire a collection agency, thinking that their debtor/patient will pay their bill sooner or later. The fact is that the more you wait, the chances of getting paid drop almost 10% each month. Indications that it’s time to seek help when you observe these situations or statements. Abuse of your written policies and procedures.

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FCC Goes After Two Providers For Not Meeting STIR/SHAKEN Deadlines

Account Recovery

The Federal Communications Commission yesterday announced that two telecom companies have failed to fully implement the STIR/SHAKEN protocols and have been referred to the regulator’s enforcement unit for further investigation. The providers — Bandwidth and Vonage — also lost any “leniency” that STIR/SHAKEN provided to networks that were attempting to comply with the protocols, according … The post FCC Goes After Two Providers For Not Meeting STIR/SHAKEN Deadl

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What Caring for an Aging Parent Could Cost You

Nerd Wallet

Trying to work while caring for an aging loved one can be difficult, stressful and at times overwhelming. Many people feel they must quit, take a leave of absence or at least reduce their hours in order to cope. Sometimes, caregivers have little choice. But often people don’t realize the heavy financial toll they’ll pay. Liz Weston writes for NerdWallet.

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CFPB Steps Up Scrutiny of Student Loan Servicers That Deceive Borrowers About Public Service Loan Forgiveness

Consumer Finance

Bulletin follows findings that servicers made deceptive statements to borrowers about loan cancellation for public service.

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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

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.

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Allowing Clients to Hear Debt Collection Calls: Is it ok?

Nexa Collect

By law, all debt collection calls initiated by a collection agency must be recorded and preserved for three years after the date of the call. The primary objective is to check if there was a violation of debt collection laws (FDCPA laws), and those recordings can be reviewed if there is a need. . Say you are a collection agency, and your client (the original creditor) contacts you to tell that they have received a complaint from the debtor telling that your debt collector was very rude over the

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Daily Digest – February 15. Appeals Court Overturns Ruling in Favor of Plaintiff; Plaintiff Files Reg F Lawsuit Over Emails

Account Recovery

NOTIFYING REPRESENTED CONSUMER INSTEAD OF ATTORNEY NOT ENOUGH FOR PLAINTIFF TO HAVE STANDING TO SUE, APPEALS COURT RULES The Court of Appeals for the Eighth Circuit has overturned a lower court’s ruling in favor of a plaintiff, determining that he lacked standing to pursue a claim in federal court after suing a collection law firm … The post Daily Digest – February 15.

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Perks of Selling Your Home Could Outweigh Challenges of Buying

Nerd Wallet

While it’s a notoriously tough time to buy a home, the incentives to sell the one you’re in could be too good to pass up. Most (89%) of current homeowners who want to list their homes right now say something is preventing them from doing so, according to NerdWallet’s recently released 2022 Home Buyer Report. Elizabeth Renter writes for NerdWallet. Email: elizabeth@nerdwallet.com.

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What is an Emergency Bankruptcy Filing?

Sawin & Shea

An emergency bankruptcy is a bankruptcy filing method that expedites the filing process to stop creditors and bill collectors from seeking debts from borrowers. Individuals can file an emergency bankruptcy, also known as a skeleton bankruptcy, under Chapter 7 and Chapter 13. Additionally, businesses can file an emergency bankruptcy under Chapter 11, but this is rare.

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How Collection Agencies Minimize Effort and Maximize Results with the Right Software

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.

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The Fight for Economic Justice: Reflections on the Past, Present and Future

Prosperity Now

The Civil Rights Movement is remembered for the efforts and accomplishments of a variety of Black individuals and groups to

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N.Y. University System Makes Changes to Debt Collection Practices

Account Recovery

The State University of New York system, a network of 64 campuses spread throughout New York state, is reviewing its debt collection practices, with an eye on no longer blocking students with unpaid debts from re-enrolling for classes, according to a published report. SUNY’s board of trustees also decided not to withhold transcripts from graduates … The post N.Y.

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Smart Money Podcast: Building Your Financial Smarts With Bola Sokunbi

Nerd Wallet

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Welcome to NerdWallet’s Smart Money podcast, where we usually answer your real-world money questions. This week’s episode is dedicated.

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Consumer Financial Protection Bureau Launches New Way for the Public to Petition the Agency for Action

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today made it easier for the public to meaningfully engage with the agency and request regulatory changes. Starting today, members of the public can submit petitions for rulemaking directly to the CFPB. The petitions will be posted on public dockets for review and comment.

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

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.

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5 Best Car Refinance Companies

Better Credit Blog

Ads by Money. We may be compensated if you click this ad. Ad Best for Lowest Rates Best for Variety of Financing Options Best Overall Best for Comparing Quotes from a Variety of Lenders Best Reputation PenFed RefiJet LightStream RATEGENIUS Bank of America Our Partner Our Partner Our Partner Our Partner View Rates View Rates View Rates View Rates View Rates APR Starts at 1.79% Starts at 2.49% Starts at 2.49% Starts at 2.48% Starts at 3.19% Minimum Credit Score 610 600 660 550 Not disclosed Loan T

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Daily Digest – February 18. Judge Grants MSJ for Defendant in FDCPA Case; N.Y. Uni System Making Changes to Debt Collection Practices

Account Recovery

JUDGE GRANTS MSJ FOR DEFENDANT IN FDCPA CASE OVER CALLS TO DEBTOR’S WIFE A District Court judge in Illinois has granted a defendant’s motion for summary judgment and denied a similar motion from a plaintiff in a Fair Debt Collection Practices Act case, ruling that 12 calls placed during a three-week period does not rise … The post Daily Digest – February 18.

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A Financial Checklist for Quitting Your Job

Nerd Wallet

Burnt out? Over it? Ready for a change? Millions of people are quitting their jobs each month in what many have dubbed the “Great Resignation.” Before you join the mass employment exodus, do a thorough scan of your financial situation. That means, of course, taking a hard look at your spending habits and any savings. Kelsey Sheehy writes for NerdWallet.

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CFPB Takes Action to Halt Prepaid Card Providers Siphoning Government Benefits

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) is taking action to halt prepaid card providers illegally siphoning money away from Americans through exclusive government benefit contracts.

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How To Optimize Cash Flow: Your Roadmap To Resilience!

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?

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Katie Price hauled into High court over unpaid 3.2m Debts

UK debt collections

Katie Price has been reportedly been requested to attend the High Court today after failing to “fully engage” with creditors over the repayment of her multi-million pound debts to them. The former glamour model turned reality star is said to owe a total of £3.2 million and it’s being claimed she’s not repaying the debts the celebrity owes in the structured way she is supposed to be doing.

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Court Rules in Favor of OCC in ‘Valid When Made’ Suit

Account Recovery

A District Court judge in California has sided with the Office of the Comptroller of the Currency, a federal regulator of banks, after it was sued by three states — California, Illinois, and New York — for allegedly overstepping its authority when it issued a rule ensuring the terms of a loan remain valid after … The post Court Rules in Favor of OCC in ‘Valid When Made’ Suit appeared first on AccountsRecovery.net.

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As Mortgage Rates Hit 4%, Buyers Can Still Boost Their Chances

Nerd Wallet

The 30-year mortgage rate has risen rapidly to its highest level since 2019, around 4%. The increase could compel home shoppers to look for houses in lower price ranges. Some might need to get preapproved again. Mortgage rates have risen almost a full percentage point since late December. A few days before Christmas, the 30-year. Holden Lewis writes for NerdWallet.

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TransUnion to Offer Credit Checks for Blockchain Lenders

Troutman Sanders

TransUnion recently announced it will make off-chain credit data available on public blockchain networks through Spring Labs’ ky0x Digital Passport, which enables Web3/Decentralized Finance (DeFi) applications or smart contracts to access off-chain identity, compliance, credit, and other custom data with lines of code. “The move enables better-informed, privacy-preserving DeFi and Web3 applications (internet applications based on public blockchains), unlocking a new world of permissioned and rep

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When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

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.