Taurus Collect
DECEMBER 29, 2022
Every business depends on its customers or clients for cash flow to sustain itself. In fact, their money is like the lifeblood of the business owner and the employees as well. However, just like a blockage in the windpipe or food pipe can result in severe health issues, a disruption in cash flow can also make it challenging for a business to survive.
American Profit Recovery
DECEMBER 29, 2022
Consumers and the business community should be comforted knowing there has been a consistent industry-wide effort in collections to humanize the process. More and more collection agencies understand the value and critical nature of tactful and respectful communications with consumers. Why is this important for the public to understand? Any business transaction should be conducted by interested parties that can come together.
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Nexa Collect
DECEMBER 30, 2022
Simply writing-off the amount that is past due is a common approach among several businesses. We see this as leaving money on the table. The primary reason for not following up on receivables is that most businesses are short-staffed, and their staff have little or no time left after their primary job responsibilities are completed. Therefore, just after a few initial follow-ups, they let go of their debtors.
NACM
DECEMBER 27, 2022
The U.S. economy grew faster than initially thought in Q3 at 3.2% year over year, up from the 2.9% estimate—sparking fears that the Fed could raise interest rates more than expected in 2023. However, "The final GDP report is one of most backward-looking readings the government releases, looking at the state of the economy nearly three months a.
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.
Taurus Collect
DECEMBER 30, 2022
Life can hit us hard anytime, leaving us sick for months and giving us several bills to look after. Or you may be unemployed for a long time and must deal with unexpected costs and bills. In such cases, we usually borrow money to keep life going. However, sometimes we can fail to pay back the amount and end up with hundreds of calls from creditors. Ultimately, they can also hire a debt collection agency to pursue the money you owe to them.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Enterprise Recovery
DECEMBER 30, 2022
It's time that we review our blog posts from the past year to discover any trending topics for 2023. In previous years, we've used this annual review to learn insights on how we can do better for our readers. Let us know if there's a topic that we can do better for you in the upcoming year. Here are the Accounts Receivable and Business Collections Trends for 2023.
Nerd Wallet
DECEMBER 30, 2022
Lauren Schwahn writes for NerdWallet. Email: lschwahn@nerdwallet.com. Twitter: @lauren_schwahn. The article 5 Ways to Build Your Credit Score in 2023 originally appeared on NerdWallet.
PBWT
DECEMBER 28, 2022
It’s often hard to persuade a bankruptcy court to grant a motion for substantial contribution. Any attorney thinking about making a motion should first ask herself two questions. First, has my work benefitted both my client and other creditors? Second, did my work result in more than an incidental benefit to the bankruptcy estate? If the answer to either question is no, then the attorney should forget about making the motion.
Account Recovery
DECEMBER 30, 2022
Teaching someone to be a collector is a fairly straightforward process because you know at the end of the training, you want those individuals to be able to collect debts, compliantly, empathetically, and persuasively. Teaching someone to be a manager is an entirely different process because at the end of the training, you want someone … The post Understanding How Management Training is Different from Regular Training first appeared on AccountsRecovery.net.
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.
True Accord
DECEMBER 29, 2022
When it comes to New Year’s resolutions, improving personal finances isn’t anything new. But as we look ahead to 2023, we see more and more Americans adding serious financial goals to their list. A recent Ascent survey found 66% of Americans plan on making a financial resolution. And your business should be paying attention to the New Year goals of consumers: it’s the ideal time to support your customers to pay off debt (one of the most common financial resolutions for 2023) by meeting them wher
Nerd Wallet
DECEMBER 27, 2022
Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com. Twitter: @SAFmedia. The article Southwest Airlines’ Holiday Disaster: Now What? originally appeared on NerdWallet.
Troutman Sanders
DECEMBER 30, 2022
FIA Card Services, NA (FIA) obtained a default judgment in a collection action against Jerome Redman in West Virginia state court. FIA, through its counsel Javitch Block LLC (Javitch), then filed a wage garnishment action against Redman to collect the judgment. Once Redman became aware of the default judgment, he filed a motion to set aside the default, which the state court granted, as well as a third-party complaint against Javitch.
Account Recovery
DECEMBER 28, 2022
We were so close to what I think would have been our first ruling on the safe harbor of using the Model Validation Notice, but a District Court judge in Utah ruled a plaintiff lacked standing to pursue his Fair Debt Collection Practices Act lawsuit because the defendant purchased the plaintiff’s lawsuit during a sale … The post Judge Grants MTD in FDCPA Case Over Lack of Interest Disclosure on MVN first appeared on AccountsRecovery.net.
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Jimerson Firm
DECEMBER 30, 2022
Severance agreements are common contracts that are entered into between an employer and a departing employee in which the employee receives extra compensation while the employer receives piece of mind from a non-compete, release of potential claims, or other protections that may be negotiated. However, there are restrictions on severance agreements which businesses should be aware of, to avoid their severance agreements being rendered unenforceable.
Nerd Wallet
DECEMBER 29, 2022
Carissa Rawson writes for NerdWallet. Email: articles@nerdwallet.com. The article What Travelers Want Instead of COVID-Related Travel Insurance originally appeared on NerdWallet.
NCBA Law Practice Management Blog
DECEMBER 29, 2022
Most solo and small firm attorneys think of their law firms as a salary replacement for a full-time law firm job, with some upside: both on income, and freedom. But, that’s it. Lots of lawyers are looking to run out the clock on their practice, and then ride off into the sunset – or , work until they die. I know I’d prefer the former ; and, if you do, too – why not ride off into the sunset with some loot, like the hero (or villain), in a Western movie?
Account Recovery
DECEMBER 28, 2022
Every few days, I get an email from someone asking a question about a webinar that they missed or making sure their email address was still on the distribution list for The Daily Digest because they stopped receiving it, or some other reason, and those emails often thank me for everything I have done for … The post A Special Thank You, From Me to You first appeared on AccountsRecovery.net.
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.
TCPA
DECEMBER 28, 2022
The First Circuit recently reversed the District of Massachusetts’s approval of a settlement award that improperly lacked any subclasses within the 4.8-million-person putative class, finding it “too difficult to determine whether the settlement treated class members equitably.” Murray v.
Nerd Wallet
DECEMBER 28, 2022
JT Genter writes for NerdWallet. Email: travel@nerdwallet.com. The article Singapore Airlines Premium Economy Review originally appeared on NerdWallet.
Troutman Sanders
DECEMBER 27, 2022
The attorney general of Massachusetts reached a settlement with a payment processing company that allegedly assisted a debt settlement company engaged in charging consumers premature and inflated fees. In 2021, debt settlement company DMB Financial LLC entered into settlements with the Massachusetts AG and the Consumer Financial Protection Bureau (CFPB) over claims that it engaged in abusive and deceptive tactics by charging consumers “significant” fees for negotiating settlements with creditors
Account Recovery
DECEMBER 28, 2022
JUDGE GRANTS MTD IN FDCPA CASE OVER LACK OF INTEREST DISCLOSURE ON MVN We were so close to what I think would have been our first ruling on the safe harbor of using the Model Validation Notice, but a District Court judge in Utah ruled a plaintiff lacked standing to pursue his Fair Debt Collection … The post Daily Digest – December 28. Judge Grants MTD in FDCPA Case Over MVN; NCLC Grades States on Judgment Protections first appeared on AccountsRecovery.net.
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?
Collection Industry News
DECEMBER 29, 2022
Jobs growth in the US remained robust last month, while wages climbed sharply – signs that the world’s largest economy still faces a tough fight as it wrestles to rein in rising prices. Employers added 263,000 jobs, while average hourly pay rose 5.1% from last year, official figures show. The unemployment rate remained at 3.7%. The stronger than expected report came despite the US central bank’s efforts to cool the economy and stabilise prices by raising interest rates.
Nerd Wallet
DECEMBER 26, 2022
JT Genter writes for NerdWallet. Email: travel@nerdwallet.com. The article 6 Best Airlines to Fly to Japan originally appeared on NerdWallet.
AGA
DECEMBER 27, 2022
From The Virtual Credit Manager. 8 Factors to Consider When Evaluating Customer Creditworthiness & the 5 Primary Data Sources that Inform Credit Decisions. Creditworthiness refers to a business’s ability to repay its debts. A customer that has a history of paying their debts on time and in full has clearly been creditworthy, but will they continue to pay within terms on their next order, or six months from now, or a year from now?
Account Recovery
DECEMBER 27, 2022
A District Court judge in Florida has granted preliminary approval of a $2.8 million settlement in a Fair Debt Collection Practices Act class-action case involving convenience fees charged when consumers made payments on their mortgages over the phone or online. A copy of the preliminary approval in the case of Morris v. PHH Mortgage can … The post Judge Approves $2.8M Settlement in FDCPA Convenience Fee Class Action first appeared on AccountsRecovery.net.
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