Consumer Finance
AUGUST 12, 2024
The CFPB released an advisory opinion and research report on a form of home seller financing that is often referred to as contract for deed.
Account Recovery
AUGUST 16, 2024
A District Court judge in Arizona has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case, ruling that it is entitled to the statute’s bona fide error defense after garnishing a bank account where Social Security payments were deposited to satisfy a judgment. The Background: This suit was initiated after the plaintiff’s bank account, which primarily received Social Security benefits, was garnished by the defendant, a law firm represent
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FFGN COLLECT NY
AUGUST 16, 2024
One year is considered the magic number when trying to vacate a default judgment. But why? New York law states that a person who is not personally served with a summons and complaint has one year from learning about the judgment to defend the case and vacate the judgment. According to New York Civil Practice Law and Rules, Section 317 : Defense by person to whom summons not personally delivered.
Collections Law
AUGUST 14, 2024
Debt collection can be a minefield, especially when you’re trying to stay fair while ensuring you get paid. At Law Offices of Alan M. Cohen & Associates LLC, our innovative commercial collections litigators have more than 50 years of combined experience. We understand the frustration of unpaid invoices. In our extensive experience, we have cultivated the art of aggressive and relentless debt collection using methods allowed to us under state and federal laws, all while maintaining strict eth
Speaker: Anna Tiomina, MBA
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?
Consumer Finance
AUGUST 12, 2024
People living in a home paid for through a contract for deed can seek help to stay in their home instead of losing it when trouble strikes.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Prosperity Now
AUGUST 15, 2024
Earlier this week, Prosperity Now submitted comments to the Department of the Treasury’s Request for Information on the Uses, Opportunities, and Risks of Artificial Intelligence (AI) in the Financial Services Sector. Prosperity Now is dedicated to transforming current systems, practices, and policies in service of an economy that works for everyone.
BN Lawyers
AUGUST 15, 2024
Barron & Newburger, P.C. is pleased to announce the inclusion of attorneys Noah Fiedler and Stephen Sather in the 2025 edition of The Best Lawyers in America. Noah Fiedler was recognized for Ethics and Professional Responsibility Law and Legal Malpractice Law – Defendants by Best Lawyers®. Stephen Sather was recognized for Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law and Litigation – Bankruptcy by Best Lawyers®.
Consumer Finance
AUGUST 11, 2024
The CFPB comment on the Department of Treasury’s Request for Information on Uses, Opportunities, and Risks of Artificial Intelligence in the Financial Services Sector.
Account Recovery
AUGUST 16, 2024
As many as 700 rural hospitals, about one-third of the total number, are at risk of closing their doors, according to a new report. Of these, 360 are in immediate danger, which poses a significant threat to the accessibility of critical healthcare services for millions of Americans. Feeling the pain: Texas leads in the number of hospitals at risk, with 80 facilities, while Kansas has the highest number at immediate risk with 31 hospitals.
Speaker: Melissa Hurrington
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.
Collection Industry News
AUGUST 13, 2024
Credit card debt is on the rise. Americans now owe a record $1.14 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday. The average balance per consumer stands at $6,329, up 4.8% year over year, according to a separate quarterly credit industry insights report from TransUnion. Credit card delinquency rates are also higher across the board, the New York Fed and TransUnion found.
Account Recovery
AUGUST 16, 2024
A District Court judge in Arizona has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case, ruling that it is entitled to the statute’s bona fide error defense after garnishing a bank account where Social Security payments were deposited to satisfy a judgment. The Background: This suit was initiated after the plaintiff’s bank account, which primarily received Social Security benefits, was garnished by the defendant, a law firm represent
Account Recovery
AUGUST 16, 2024
HERNDON, Va. — Navient (Nasdaq: NAVI) announced today that it had reached an agreement to sell its Healthcare Services business to CorroHealth, a leading health technology company. “This transaction is an important achievement in our initiative to explore strategic options for our Business Processing Solutions division and our strategic objectives to simplify our company, reduce our expense base, and enhance our flexibility,” said Dave Yowan, president and CEO of Navient.
Account Recovery
AUGUST 16, 2024
As many as 700 rural hospitals, about one-third of the total number, are at risk of closing their doors, according to a new report. Of these, 360 are in immediate danger, which poses a significant threat to the accessibility of critical healthcare services for millions of Americans. Feeling the pain: Texas leads in the number of hospitals at risk, with 80 facilities, while Kansas has the highest number at immediate risk with 31 hospitals.
Speaker: Susan Richards
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.
Account Recovery
AUGUST 16, 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!
Account Recovery
AUGUST 15, 2024
Getting to Know Jason Rabago from Payment Savvy Judge Denies MTD in FDCPA Case, Rules ‘Balance Seems to be a Little Off’ Counts as Dispute FTC Publishes Final Rule Banning Fake Reviews Fintech Aimed at Helping Consumers Pay Down Debt Shutters WORTH NOTING: Disney is trying an interesting strategy to get a wrongful death lawsuit against it thrown out … Meet a 7-year-old who won top prize for his blueberry pie at the Texas State Fair … Can you guess which sports franchise is the first
Account Recovery
AUGUST 15, 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
Account Recovery
AUGUST 15, 2024
A District Court judge in Pennsylvania has denied a defendant’s motion to dismiss a Fair Debt Collection Practices Act lawsuit, ruling that the plaintiff did in fact dispute a debt when, during a conversation with a representative of the defendant, he said, “the balance seems to be a little off.” The Background: The plaintiff noted an item on his credit report from the defendant.
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.
Account Recovery
AUGUST 15, 2024
The Federal Trade Commission has issued a final rule aimed at combating the rampant issue of fake reviews and testimonials. This new rule prohibits the sale or purchase of fraudulent reviews and allows the FTC to seek civil penalties against those who knowingly violate the regulation. Why it matters: Fake reviews have long been a thorn in the side of both consumers and honest businesses.
Account Recovery
AUGUST 15, 2024
Tally, a fintech that helped consumers pay down credit card debt and was once valued at $855 million has closed its doors and laid off all of its employees, the company announced. Driving the news: In a LinkedIn post shared Monday, Tally’s founder and CEO Jason Brown announced the “sad and difficult” decision to close the company. Despite extensive efforts to secure additional funding, Brown revealed that Tally could not sustain its operations.
Account Recovery
AUGUST 14, 2024
During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers. This is merely meant to be a service to aggregate industry job opportunities into one convenient location.
Account Recovery
AUGUST 14, 2024
The Court of Appeals for the Third Circuit has vacated a lower court’s decision the upheld an arbitrator’s ruling in favor of a defendant in a Fair Debt Collection Practices Act case on the grounds that the plaintiff lacked standing to bring the case in the first place, admittedly paving the way for the plaintiff to re-file the lawsuit and force the defendant to defend the case again.
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Account Recovery
AUGUST 14, 2024
PayZen, an AI-powered patient financing solution that aims to make healthcare more affordable while improving collection rates for providers, has closed an oversubscribed Series B funding round, raising $32 million in equity and securing a $200 million credit warehouse. How it works: PayZen offers “buy now, pay later” services for healthcare, providing interest-free and fee-free payment installments over time.
Account Recovery
AUGUST 14, 2024
Appeals Court Vacates FDCPA Suit, But Leaves Arbitration Award Up in Air CFPB Tasked To Make it Easier for Consumers to Reach ‘Real Person’ When Seeking Assistance, Scour Chatbot Usage PayZen Raises $32M to Expand ‘Care Now, Pay Later’ Healthcare Platform 24 Companies Seeking Collection Talent WORTH NOTING: Food safety tips to keep your kitchen free of bacteria … Car insurance premiums have risen by nearly 50% in the past three years … For collectors of baseball cards, these are the
Account Recovery
AUGUST 13, 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!
Account Recovery
AUGUST 13, 2024
The comments period regarding the Consumer Financial Protection Bureau’s proposed rule that would prohibit creditors from using medical debts when determining whether a consumer is eligible for credit closed yesterday. To provide insight into the tone of the comments being filed, AccountsRecovery.net is sharing some of those comments here. To date, 1,008 comments have been filed and are available to be viewed.
Speaker: Debra L. Robinson
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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