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The Director of the Consumer Financial Protection Bureau has denied a petition from a credit repair organization to set aside a civil investigative demand it received from the Bureau, disagreeing with the premise that the CFPB’s request is unlawful because it could not bring an enforcement action against the company. A copy of the denial, … The post CFPB Denies Petition From Credit Repair Org. to Set Aside CID appeared first on AccountsRecovery.net.
We’re not fond of overused terms here but one we do feel is relevant during the year 2020, is that “now, more than ever,” it is mission critical to be getting paid for the work your business does and the services you provide. Regardless of the size of your organization, cash flow is something that has probably taken a hard hit during the COVID-19 pandemic and the economic fallout that came with it.
There's no question that businesses and cash flow have been affected by the recession and pandemic. Some companies have taken advantage of this time to pivot, rebrand or change focus to save their businesses and keep their customers happy. In the middle of all of that, you might be facing the stress of lacking resources necessary to keep going. You might also be surprised to learn that you actually already have the company funds you need.
Access to business credit can help smooth out cash flow, enable large equipment purchases, and give companies the capital they need when they need it. But in the same way that personal loans hinge on an individual’s credit score, business loans depend on a company’s business credit score. The higher an organization’s rating, the better. Below you’ll find ten reasons why having a good business credit score is so beneficial.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
A District Court judge in South Carolina has lifted the seal on two complaints filed by the Federal Trade Commission against debt collection operations that are accused of violating the Fair Debt Collection Practices Act by allegedly convincing unsuspecting individuals that lawsuits have been, or will soon be, filed against them if they do not … The post FTC Files Suits Against Alleged Collection Scammers appeared first on AccountsRecovery.net.
When the pandemic hit, a lot of companies started allowing staff to work from home — temporarily. But since then, a new trend has begun to emerge: More and more companies are allowing employees to work from remote locations permanently. For this new cohort of remote workers, this opens up a world — literally —. Josh Garber is a writer at NerdWallet.
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When the pandemic hit, a lot of companies started allowing staff to work from home — temporarily. But since then, a new trend has begun to emerge: More and more companies are allowing employees to work from remote locations permanently. For this new cohort of remote workers, this opens up a world — literally —. Josh Garber is a writer at NerdWallet.
If you are one of the millions who anticipated a second stimulus check from the federal government – and penciled $1,200 into the income side of your budget – you better hope that pencil has an eraser. The second stimulus check may never happen. And if it does, the earliest you’ll see it is sometime […]. The post Will There Still Be a Second Stimulus Check?
There was a time when cold calling played an essential role in sales. The phone was the only way to establish new relationships, apart from face to face conversations, so cold calling had a place. Of course, door to door sales was a thing, too, and that has long since abandoned. Cold calling should be left to the dustbin of history, too. Today, it’s just another term for pestering people.
Even as many states are moving to ease collection restrictions that were put into place at the start of the coronavirus pandemic, the Virginia legislature is moving forward with a bill that would protect the economic stimulus payments received by individuals from being garnished by debt collectors. A number of states — including California, Vermont, … The post Garnishment Protection Bill Advances in Va.
If you’ve started a side gig to bring in some extra funds, you might be thinking about applying for a small-business credit card. Completing an online application for a credit card takes just minutes, but for small-business cards, you’ll have to answer a few extra questions. Some are obvious and others may seem like head-scratchers, but. Sara Rathner is a writer at NerdWallet.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
When Congress left Washington in early August, they had yet to agree on the specifics of a second stimulus package. They reconvene Sept. 8, and if a deal is reached in the first days or week after returning, you could receive a second stimulus check by early October. That’s if the new coronavirus relief bill […]. The post $300 Federal Unemployment Benefits appeared first on Debt.org.
Before COVID-19, August meant most parents were gearing up to see their kids off to school and return to the normal schedules offered by fall. In 2020, you may be gearing up to handle school at home, take on a hybrid situation, or send your kids to school every day. Whatever your options are this year and in future years, one fact remains consistent: the start of the school year can be expensive.
A husband and wife from Arizona have been permanently barred from using the U.S. telephone system to send automated telephone calls playing pre-recorded messages as part of a consent order with the Justice Department. A copy of the order in the case of United States of America v. Nicholas and Natasha Palumbo can be accessed … The post Justice Dept.
The Great Recession demolished jobs across the U.S., and it eventually came for mine, too. After graduating in 2009, I worked four months as an entry-level executive assistant at a nonprofit before being laid off. I had limited financial knowledge, a short work history and a lot to prove to break into the field of. Melissa Lambarena is a writer at NerdWallet.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
If you’re dealing with debt and considering filing for bankruptcy, it’s a good idea to get professional legal advice on how to handle the proceedings. There are countless scams and “credit repair” cons trying to take advantage of your situation when you need help the most. Credit counseling and debt management agencies may be able to assist you as you work, but with so many untrustworthy schemes out there, how do you know what the right step should be?
This is part one of a two-part blog post series on cottage succession planning in Michigan. The family cottage is a place for fun and relaxation in Michigan. It’s where different generations gather and form lifelong memories. When purchasing a cottage, it’s often the intent of the owner to pass the cottage on to future generations to enjoy. Unfortunately, that vision may not become a reality due to challenges such as high property taxes, differing objectives among heirs and resulting family disp
Hackers are getting wise to the fact that a lot of people are working from home due to the coronavirus pandemic and are seeking to take advantage of that fact by calling individuals and pretending to be IT workers from their companies, trying to trick the individuals into divulging sensitive and confidential information. The Federal … The post FBI, CISA Warn of Increase in Attacks on Remote Workers appeared first on AccountsRecovery.net.
Because of COVID-19, wait times for many credit card customer service lines are longer than usual, whether you’re calling to dispute a payment or to defer a payment. “The volume of contacts has increased" since many people have pandemic-related questions, says Emily Yellin, a journalist and author of “Your Call is (Not That) Important to Us.". Kimberly Palmer is a writer at NerdWallet.
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.
Since 2013, residential foreclosure actions in Florida have been significantly shortened—from over two (2) years to possibly less than six (6) months—because of the new “fast-track” process provided in section 702.10, Florida Statutes. This fast-track foreclosure process starts with the filing of a “verified” foreclosure complaint that sufficiently alleges standing, along with a certificate of possession of the original promissory note or a lost note affidavit, followed with a request for an ord
Banks are accelerating their adoption of new digital debt collection tools in anticipation of a “tidal wave of consumer debt issues” when government stimulus programs end and financial institutions stop offering forbearance and loan deferral options. That’s the premise of a new article in American Banker highlighting a variety of technology-powered strategies banks are using to make debt resolution more automated, conversational, and empathetic.
A District Court judge in New York has granted a defendant’s motion to dismiss after it was sued for violating the Fair Debt Collection Practices Act when it sent a collection letter to the plaintiff that allegedly included a number of misrepresentations, including multiple addresses that confused the plaintiff about how to dispute the debt, … The post Judge Grants MTD in FDCPA Case Over ‘Nitpicks’ in Collection Letter appeared first on AccountsRecovery.net.
Tens of thousands of people turn to Google every month to see if now is the time to invest. It’s a loaded question, especially this year: In late February 2020, the S&P 500 began a monthlong decline, finding what investors hope was the pandemic floor on March 23. Historically, it has taken an average of. Chris Davis is a writer at NerdWallet. Email: cdavis@nerdwallet.com.
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.
As noted futurist Faith Popcorn said (all the way back in 1991): “You can trust a crystal ball about as far as you can throw it.”. With respect to what is next for the global economy, everybody’s crystal ball seems cloudy at the moment. While we at FICO do not claim any unique foresight into what is ahead for the U.S. economy, we are well positioned to share how the FICO® Score has shifted during past instances of widespread financial stress, as well as how it could react to the current stresse
As of early 2020, student loan debt in the nation had reached more than $1.5 trillion. More than 44 million individuals have student loan debt, and the average person with student loans owes a bit over $32,000—which is more than half of the average household income in the United States. As a new school year approaches, more individuals are searching for ways to fund their education without going into debt for years.
Valor Intelligent Processing (VIP), based in Jacksonville, Fla., recently completed its first-ever acquisition, purchasing Credit Protection Association (CPA), a collection and business-process outsourcing company based in Dallas. Gordon Beck, the president and chief operating office of VIP, sat down with AccountsRecovery.net to discuss the transaction, how it came to pass, and what it’s been like … The post EXCLUSIVE: VIP’s Gordon Beck Shares Details of Company’s First A
Consumer Education Services Inc. offers many common credit counseling services by phone or online, including debt management plans, student loan counseling and housing counseling. CESI is headquartered in Raleigh, North Carolina, and offers services in all 50 states and Puerto Rico. CESI may be a good fit if you: Prefer an online experience. CESI offers.
CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.
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