Account Recovery

OCTOBER 21, 2021

The Consumer Financial Protection Bureau this week quietly released a new update to Regulation F, one that many in the industry had been anxiously awaiting as the countdown to November 30 gets smaller and smaller. The CFPB released a Spanish-language translation of its Model Validation Notice, which collectors can choose to use if they elect … The post CFPB Releases Spanish Model Validation Notice appeared first on AccountsRecovery.net.

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American Profit Recovery

OCTOBER 20, 2021

By Sabrine: I am approaching my fourth year here at American Profit Recovery. The time here flew by, and I am in awe that I have been here for as long as I have. Loyalty as well as being tenured at jobs growing up has been the norm for me prior to graduating college. As I get ready to complete my fourth year here and knowing that this is the career path for me, I can excitedly say that I look forward to celebrating my anniversary every year it arrives.

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Nexa Collect

OCTOBER 21, 2021

Medical practices are facing an uncertain future – at least financially. A recent report by Deloitte found that nearly half of all medical practices are either uncertain or very uncertain about their ability to stay in business over the next three years, with 40% of respondents noting that they were not confident about their financial stability.

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Nerd Wallet

OCTOBER 19, 2021

It’s hard enough to motivate yourself to save for retirement, but saving for your future medical costs? How responsible does a person have to be? Thankfully, health savings accounts, or HSAs, are tools that make saving for future health-related expenses less painful. These accounts allow you to save money, but they also allow you to. Alana Benson writes for NerdWallet.

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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

OCTOBER 21, 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 Patricia Cobb of

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Accounts Receivables Management 246

UK debt collections

OCTOBER 18, 2021

The number of businesses in England and Wales that went bust last month was the largest since the pandemic began. The latest Insolvency Service data shows that 1,446 company insolvencies were registered last month. Business insolvencies have increased by 7.2% in September 2021 compared to August’s figure of 1,349. They also increased by 55.8% in comparison to the same period for last year.

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Trade Debt Recovery Creditors Government 107

Nerd Wallet

OCTOBER 20, 2021

Cryptocurrency, once an obscure corner of the financial world, is going mainstream. It made its debut on the New York Stock Exchange on Oct. 19 in a ProShares exchange-traded fund tied to bitcoin futures. Artists are making millions selling “tokenized” digital works. And crypto exchanges are advertising on prime-time TV alongside banks and insurers.

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Account Recovery

OCTOBER 22, 2021

If you have ever watched a movie where someone goes to jail, the advice that the person usually receives is to fight the biggest inmate on the first day, to show you mean business and that you’re tough. Well, the new Director of the Consumer Financial Protection Bureau, who has been in office for all … The post CFPB Launches Investigation into How Tech ‘Giants’ Use Payment Info appeared first on AccountsRecovery.net.

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Collections Law

OCTOBER 22, 2021

As an architect, you take pride in your work and when you deliver your product to a customer, you expect to get paid. What can you do if they don’t pay you as agreed, even though you have already done the work? Contractors and subcontractors often use mechanic’s liens to help them secure payment, but architects often do their work even before the builders break ground.

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Mechanic’s Liens Commercial Collection Construction Foreclosure 98

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

Jimerson Firm

OCTOBER 21, 2021

When a property owner experiences construction defects in their property, one of the important considerations as to whether or not to pursue a construction defect lawsuit is what types of damages may be available to remedy the defects. This is an important consideration, as without a complete understanding of all the available types of damages, property owners may not be setting themselves up to obtain all of the recovery to which they may be entitled.

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Construction Trade Judgment Banks 98

Nerd Wallet

OCTOBER 22, 2021

Supply chain issues, shipping delays and lingering fears from the pandemic have injected a heightened level of stress and scarcity into this year’s holiday shopping season. That could lead some consumers to fall for scam deals or buy products that aren’t quite what they expected. Here’s how to avoid a Black Friday deal that’s too. Sean Pyles writes for NerdWallet.

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Account Recovery

OCTOBER 20, 2021

Debt collection, student loan debt relief, payday loans, and government impersonators are just a few of the categories highlighted in a Federal Trade Commission report that analyzes the regulator’s effort at addressing fraud and consumer issues that are affecting communities of color, which was released earlier this week. In the area of debt collection, the … The post FTC Report Analyzes How Fraud and Scams Affect Communities of Color appeared first on AccountsRecovery.net.

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Student loans Student Loans Trade Government 246

Credit Corp

OCTOBER 21, 2021

In the wake of the Covid-19 pandemic, the world of retail investing has experienced a growing number of new arrivals looking to place their money in the stocks and shares that they believe in. Emotional investments and allowing fear or greed to control decisions can lead to clouded judgement in the investing landscape. In these cases, it’s vital to look at the bigger picture–stock market returns may debate significantly in short-term waves.

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Collection Agencies

Roths Child Law

OCTOBER 19, 2021

Bankruptcy is a means to an end. It helps you eliminate debts and get yourself into a better financial situation. You’ll go through credit counseling in most cases, and you’ll learn better ways to manage your money. There will be some negative impacts caused by bankruptcy. You may not be able to take out a loan or to get credit. At the same time, you should have more free income that can help you stay stable while your credit score improves.

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Nerd Wallet

OCTOBER 22, 2021

The federal government’s Paycheck Protection Program provided small-business owners with just under $800 billion in COVID-19 relief, according to the U.S. Small Business Administration. The PPP concluded on May 31, but as businesses forge ahead in the recovery process, they may find a continued need for affordable financing. Here are some of the government funding.

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Account Recovery

OCTOBER 20, 2021

The First Financial Asset Management (FFAM360) family of companies, a world-class organization providing revenue-centric solutions to specifically address all phases of the credit and revenue lifecycle, is continuing its annual breast cancer fundraising campaign throughout October. October is National Breast Cancer Awareness Month and a prime time of year for raising funds for breast cancer … The post FFAM360 Continues Annual Support of Breast Cancer Research appeared first on AccountsReco

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Prosperity Now

OCTOBER 17, 2021

What do we believe about the equality of all humans?? At first glance, the question might seem simple.

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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.

FFGN COLLECT NY

OCTOBER 20, 2021

When considering what funds are exempt from judgment enforcement and the reach of judgment creditors, New York and the federal government draw a line between enforcing judgments against consumers and enforcing judgments against commercial entities. COVID-19 stimulus payments were the latest addition to the list of assets exempt from execution by judgment creditors in New York.

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Nerd Wallet

OCTOBER 20, 2021

Owning a business is a multifaceted challenge. You’re responsible for keeping your clients happy and your employees motivated. Plus, you also need to protect your revenue while simultaneously covering payroll and other business expenses. Leading a company will always require a healthy tolerance for disruption. But the right toolkit can help you weather the turbulent.

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Account Recovery

OCTOBER 20, 2021

BEDARD BREAKS DOWN MODEL NOTICE’S OPTIONAL DISCLOSURES In the latest episode of “You Wanted a Rule, You Got a Rule,” John Bedard of Bedard Law Group discusses some of the optional disclosures collectors may choose to include in the validation notices they send to individuals. SDNY JUDGE GRANTS MTD IN FDCPA CASE OVER SETTLEMENT LANGUAGE … The post Daily Digest – October 20.

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Consumer Finance

OCTOBER 21, 2021

Today, the Consumer Financial Protection Bureau (CFPB) issued a series of orders to collect information on the business practices of large technology companies operating payments systems in the United States. The information will help the CFPB better understand how these firms use personal payments data and manage data access to users so the Bureau can ensure adequate consumer protection.

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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

Fico Collections

OCTOBER 19, 2021

This post presents new results following up our last blog post that described the FICO® Score impacts from simulating up to 12 months of mortgage forbearance accommodation. In the previous analysis, we enacted the simulation on all open mortgage accounts identified on a national sample of millions of U.S. consumers from late 2018. All stats shared in that post were based on the entire consumer population that has at least one open mortgage reported in their credit file.

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Nerd Wallet

OCTOBER 22, 2021

If you’re shopping for a new or used car in today’s overheated market, you’ll find that the game has changed. A variety of conditions have seemingly given sellers the upper hand. “Skimpy inventories and sky-high prices have caused many buyers to postpone their purchases,” says Michelle Krebs, executive analyst for Cox Automotive, a leading communication, Philip Reed writes for NerdWallet.

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Account Recovery

OCTOBER 19, 2021

The Federal Communications Commission has proposed a rule that would explore ways to require wireless carriers to block illegal text messages, similar to what the agency has done to combat illegal robocalls. Robotexts have become more prevalent, especially as regulators and technology providers have taken steps to keep robocalls from being connected to consumers’ phones. … The post FCC Proposes Rule to Block Robotexts appeared first on AccountsRecovery.net.

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Consumer Finance

OCTOBER 21, 2021

The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ), in cooperation with the Office of the Comptroller of the Currency (OCC), took action today to put an end to alleged redlining by Trustmark National Bank.

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