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 18, 2024

Granted, this appears to be available in England only for now, and it’s intended to fight fraud and scams, but it’s likely only a matter of time before it makes its way westward to the United States and could possibly be deployed against collection calls. England’s largest cellphone carrier has unveiled a new technology that could pose a new challenge for debt collectors.

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Debt collector 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 144

Financial services 144

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 89

Education 89

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.

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).

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Debt collector Debtor Collections Judgment 89

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 86

Banks 86

PDC Flow

NOVEMBER 22, 2024

Omnichannel payments and multichannel payments are both terms used to describe the options your software allows for taking customer payments. Omnichannel payment features improve the payment experience for customers but they also have a positive impact on your overall business operations. What are Omnichannel Payments? Omni or multichannel payment solutions let you take advantage of more than one payment channel in a single platform.

Banks 85

Banks Government Collections 85

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 80

Debt Recovery Collections 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.

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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

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.

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Loans Judgment Lender Debtor 52

Consumer Finance

NOVEMBER 20, 2024

Director Chopra delivered remarks at the 2024 FinRegLab AI Symposium.

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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.

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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.

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Lender Banks 130

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Collection Agencies

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.

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Law Firms Lawyers Creditors 52

Collection Industry News

NOVEMBER 19, 2024

Diamond Sports moved closer to exiting bankruptcy on Thursday after a bankruptcy judge approved its reorganization plan, which slashes the hefty debt load that toppled the company. The green light is a significant milestone for the owner of regional sports networks, which has been under bankruptcy protection since March 2023. During that time, the company has made dramatic changes to its deals with professional sports teams and leagues, as well as its business model, to prove it can be a viable

Bankruptcy 40

Bankruptcy Lender Collections Government 40

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.

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Account Recovery

NOVEMBER 18, 2024

In a development first announced by ACA International, the New York City Department of Consumer and Worker Protection (DCWP) has proposed an amendment to its new debt collection regulation. The amendment aims to clarify that the definition of a “debt collector” under the city’s Consumer Protection Law (CPL) explicitly includes creditors collecting their own debts.

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Creditors Collections Original Creditor Debt collector 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.

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).

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Retail Trade Construction Creditors 85

Collection Industry News

NOVEMBER 17, 2024

California Gov. Gavin Newsom recently signed SB 1286 amending the Rosenthal Fair Debt Collection Practices Act’s coverage to certain commercial debt. Prior to this amendment, the RFDCPA’s restrictions applied only to certain debt collectors and creditors collecting consumer debt. The amendments are effective Jan. 1, 2025. EXPANSION OF COVERED DEBT The amendments expand covered debt to include “covered commercial debt,” “covered commercial credit,” and “covered commercial credit transaction.

Collections 40

Collections Debt collector Debtor Lender 40

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.

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Creditors Banks Government Trade 52

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.

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Judgment Fair Debt Collection Collections 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

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.

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Retail 81

Collection Industry News

NOVEMBER 22, 2024

The Biden administration has forgiven a record amount of federal student debt. But in about two months, President-elect Donald Trump, a vocal critic of student loan forgiveness polices, will enter the White House. Under Trump, the U.S. Department of Education is likely to abandon its efforts to deliver wide-scale student loan relief, experts say. But what about the millions of people who’ve already had their debt excused over the past four years?

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Student loans Student Loans Education Loans 40

Account Recovery

NOVEMBER 19, 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!

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Judgment Credit Card Debt Fair Debt Collection Collections 130

Account Recovery

NOVEMBER 20, 2024

Joseph Ciffa’s name first appeared on AccountsRecovery.net more than seven years ago when he was accused in a criminal complaint of running a debt collection scam that sought to collect phantom debts from individuals who had already been scammed. And even that wasn’t his first brush with the law related to issues attempting to collect on debts from consumers.

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