American Profit Recovery

NOVEMBER 20, 2024

If you’re running any type of business, negative cash flow does not just happen. There are always red flags of negative cash flow that give you an indication of a problem within your organization. Negative cash flow can rapidly disrupt a small business’s operations. Many businesses struggle to keep a consistent client base and have slim margins, which means it’s important to keep a close eye on cash flow.

Collection Agencies 147

Collection Agencies Collections Agency Debt collector Collections 147

Account Recovery

NOVEMBER 21, 2024

I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support. TEC is now extending its services by offering proven, industry-leading technology solutions alongside of our Professional Services to help Clients feel confident in their technology de

Creditors 246

Creditors Collections 246

Consumer Finance

NOVEMBER 20, 2024

The CFPB today finalized a rule to supervise the largest nonbank companies offering digital funds transfer and payment wallet apps.

Financial services 125

Financial services 125

PDC Flow

NOVEMBER 20, 2024

According to Forbes , there were 2,365 cyberattacks in 2023, with 343,338,964 victims. These data security breaches are a big problem for companies and consumers alike. That’s why there are rules, regulations, and best practices centered around protecting customers through credit card tokenization and data encryption. Credit card tokenization and encryption shield essential customer payment information from being exposed.

Education 93

Education 93

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.

UK debt collections

NOVEMBER 20, 2024

Dudley Council is chasing an eye-watering £20m in unpaid debts owed for more than three months despite battling a financial black hole. The authority is currently working to balance the books ahead of next year’s budget with a gap of £35m between what it spends and its income. Despite the financial crisis there are millions of pounds in bills from the council that have been unpaid for more than 90 days.

Debt Recovery 79

Debt Recovery Collections 79

True Accord

NOVEMBER 22, 2024

TrueAccord is at the forefront of defending litigation related to digital communications in debt collection and its recent victory in the Southern District of Florida is a resounding victory for digital channels in our industry. In Quinn-Davis v. TrueAccord , the court grappled with the concept of timing in order to figure out when an email is considered inconvenient under both the Federal Debt Collection Practices Act (FDCPA) and the Florida Debt Collection Practices Act (FCCPA).

Debt collector 67

Debt collector Debtor Collections Judgment 67

Prosperity Now

NOVEMBER 19, 2024

Entrepreneurship is never an easy path, but it can be a transformative one, especially for those in underserved communities who face unique challenges in accessing resources and opportunities. Arturo Noriega, Founder and CEO of Centro Community Partners, has dedicated his work to breaking down these barriers.

52

52

UK debt collections

NOVEMBER 19, 2024

Research by Forvis Mazars has found that insolvencies of logistics companies’ have risen 14% in the past year, from 464 in 2022/23 to 530 in 2023/24. Many logistics businesses were set up during the pandemic to meet the sudden rise in demand for home delivery. As this surge in demand reversed, some of these companies are struggling to survive. In May 2020, during the height of the pandemic, internet sales made up 34% of all retail sales.

Retail 80

Retail 80

Account Recovery

NOVEMBER 22, 2024

The Consumer Financial Protection Bureau yesterday announced in a court filing that it has agreed to postpone the effective date of its controversial medical debt collection guidance from December 3, 2024, to January 2, 2025. This delay comes in response to a legal challenge from ACA International and other plaintiffs, who filed for a temporary restraining order and preliminary injunction against the CFPB’s advisory opinion.

Collections 130

Collections Debt collector Healthcare 130

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

NOVEMBER 17, 2024

Director Chopra submitted this statement for the record in connection with a closed meeting of the FDIC Board of Directors held on November 12, 2024.

Banks 62

Banks 62

Prosperity Now

NOVEMBER 18, 2024

Starting a business is never easy, and for entrepreneurs of color, the journey is often filled with unique challenges. Bianca Jackson, founder of BrickRose Exchange, shares her journey, the hurdles she's faced, and her vision for a future where technology and innovation empower all entrepreneurs.

52

52

UK debt collections

NOVEMBER 20, 2024

Latest figures from the Insolvency Service have shown that the number of business insolvencies in England and Wales was 1,747 in October 2024, 10% lower than in September 2024 (1,950) and 24% lower than the same month in the previous year. The business insolvencies figures consisted of 188 compulsory liquidations, 1,445 creditors’ voluntary liquidations (CVLs), 100 administrations and 12 company voluntary arrangements (CVAs).

Retail 71

Retail Trade Construction Creditors 71

Account Recovery

NOVEMBER 22, 2024

Collector Facing FDCPA, RFDCPA Class Action for Calling Plaintiff Before 8am CFPB Delays Enactment of Medical Debt Collection Guidance Judge Denies MTD in FCRA Case Over Permissible Purpose New CFPB Rule Brings Major Payment Apps Under Federal Oversight WORTH NOTING: Google shares the top entertainment trends from 2024, like which show was watched most on its TVs … How to find faster WiFi when you are on the road … A chef makes a recommendation about how to cook your Thanksgiving tur

Collections 130

Collections 130

Advertisement

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.

Collection Agencies

Hudson Weir

NOVEMBER 18, 2024

Find out how a freezing order works in this guide and learn about the options for business recovery after a creditor has blocked access to the company’s cash or assets. What is a freezing order exactly? Courts may grant a freezing order after a successful application from a creditor to deny directors access to their company’s cash or assets of an equivalent value to the debt.

Creditors 52

Creditors Banks Government Trade 52

FFGN COLLECT NY

NOVEMBER 17, 2024

Strapped for cash, MyPillow CEO Mike Lindell took at least two merchant cash advances. Because Lindell’s companies defaulted on payments, suits were filed in New York alleging MyPillow-related entities and Mike Lindell as a personal guarantor defaulted on the loans. Sometimes businesses that do not qualify for traditional loans look for alternative forms of funding.

Loans 52

Loans Judgment Lender Debtor 52

NCBA Law Practice Management Blog

NOVEMBER 17, 2024

If you’re a solo attorney – whether that’s a true solo (just you & no team) or a solo, with non-attorney staff help – it’s definitely a scary proposition to hire your first attorney. Some solo lawyer s , in fact, never do it. They just can’t get past the fear. But, if you can make that hire, and make it successfully, that’s like adding lighter fluid to the fire of law firm growth.

Law Firms 52

Law Firms Lawyers Creditors 52

Account Recovery

NOVEMBER 22, 2024

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? Call (855) WEB-RECON or email admin@webrecon.net today!

Fair Debt Collection 130

Fair Debt Collection Collections 130

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.

Account Recovery

NOVEMBER 22, 2024

A District Court judge in Kentucky has denied a defendant’s motion to dismiss a Fair Credit Reporting Act case after it was accused of accessing the plaintiffs’ credit reports without a permissible purpose, ruling that the amended complaint includes sufficient factual allegations to support a plausible claim at this stage of the proceedings.

Foreclosure 130

Foreclosure 130

Account Recovery

NOVEMBER 21, 2024

Getting to Know Jennifer Klein of Bayview Solutions Judge Grants MSJ for Defendant in FDCPA Case Over Time that Email Was Sent/Received Rejection Rates on Credit Applications Reach New Highs Signaling Potential Problems for Consumers on the Horizon Contenders Vying to be Next Chair of House Financial Services Committee WORTH NOTING: Have you ever looked at a piece of art — especially one that just sold for more than $6 million — and thought “I could do that”?

Financial services 130

Financial services 130

Account Recovery

NOVEMBER 21, 2024

In a case that was defended by Lauren Burnette at Messer Strickler Burnette, a District Court judge in Florida has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case surrounding a common claim being made against collection operations that are communicating with consumers via email — regarding the time that the message is received or read by the consumer being outside the FDCPA’s permissible contact window.

Fair Debt Collection 130

Fair Debt Collection Debt collector Judgment Consumer Collections 130

Account Recovery

NOVEMBER 21, 2024

Key Takeaways The Federal Reserve Bank of New York’s latest Survey of Consumer Expectations (SCE) Credit Access Survey paints a challenging picture for consumers seeking credit in 2024. While credit demand remains largely stable, rejection rates across key credit types have surged, signaling potential challenges for both consumers and lenders in the months ahead.

Lender 130

Lender Banks 130

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

Account Recovery

NOVEMBER 21, 2024

Rep. Andy Barr [R-Kent.] is emerging as the frontrunner to chair the House Financial Services Committee, a pivotal role that could significantly impact the debt collection industry’s regulatory landscape, thanks to indications he is the choice of House Majority Leader Rep. Steve Scalise [R-La.]. There are a handful of Congressmen interested in replacing Rep.

Financial services 130

Financial services Collections 130

Account Recovery

NOVEMBER 20, 2024

A District Court judge in Ohio has granted a defendant’s motion to vacate an entry of default that was filed against it in a Fair Debt Collection Practices Act case, ruling that the defendant’s failure to respond to the plaintiff’s complaint did not constitute culpable conduct and that the case should be decided on its merits. The background: The plaintiff was involved in a car accident in 2022 and his vehicle was deemed a total loss.

Judgment 130

Judgment Fair Debt Collection Collections 130

Account Recovery

NOVEMBER 20, 2024

ACA International and Collection Bureau Services, Inc., the plaintiffs in a suit seeking to nullify an advisory opinion on medical debt collection issued by the Consumer Financial Protection Bureau, have filed an emergency motion for a preliminary injunction and temporary restraining order seeking to prevent the requirements from taking effect on December 3.

Debt collector 130

Debt collector Healthcare Fair Debt Collection Collections 130

Account Recovery

NOVEMBER 20, 2024

Plaintiffs in Suit Fighting CFPB’s Medical Debt Guidance Seek Injunction, Restraining Order Judge Vacates Default Judgment Against Defendant in FDCPA Case Collection Scam Ringleader Sentenced to Prison 27 Companies Seeking Collection Talent WORTH NOTING: Amazon’s Black Friday event starts tomorrow. Here is a look at some early deals … Do you know who has been nominated 32 times to be the CMA Musician of the Year but never won?

Judgment 130

Judgment Collections 130

Advertisement

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.

Collections