Account Recovery
MARCH 13, 2024
Not looking to stay on the sidelines, a member of the Rhode Island legislature has introduced a bill that would cap the interest rate that can be charged on unpaid medical debt while also banning healthcare providers from reporting information about medical debts to the credit reporting agencies.
Account Recovery
MARCH 13, 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.
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Qualco
MARCH 12, 2024
By George Fertakis , Senior Business Consultant at QUALCO. In our recent study on the collections sector conducted in partnership with Deloitte France, difficulty in finding the right staff emerged as a key challenge for respondents, both among those managing Banks’ collections departments and those overseeing servicing operations. This seems to be a recurring theme.
American Profit Recovery
MARCH 11, 2024
If your organization is burdened with negative cash flow, your ability to keep customers current in their financial obligations becomes mission critical. Approaches to achieving that and getting customers to pay you regularly differ. Many organizations still rely on in-house debt collection teams as part of their accounts receivable program. While in theory, this may have moderate benefits, relying on internal resources for all your collection activity may ultimately be a negative.
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.
NACM
MARCH 13, 2024
Since the early 2000s, artificial intelligence has revolutionized business, creating new roles and boosting productivity. However, its lack of human elements like creativity and emotional intelligence has increased the demand for workers with specialized skills and knowledge. Through NACM's six-level Professional Certification Program, credit profe.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Consumer Finance
MARCH 10, 2024
Many student loan borrowers have an opportunity to have their entire student loans cancelled or receive more credit towards cancellation, but they must act before April 30, 2024.
American Profit Recovery
MARCH 15, 2024
Many organizations and commonly small businesses will attempt to get customers to pay on outstanding invoices through various methods. However, for a wide range of reasons, small businesses can struggle to get timely payments, which ultimately affects cash flow. One method that many small businesses have employed over the years is taking customers to small claims court.
Troutman Sanders
MARCH 15, 2024
On March 14, Virginia Governor Glenn Youngkin vetoed House Bill (HB) 418 that would have created a vehicle for class actions in Virginia state courts and would have broadened statutory damages under the Virginia Consumer Protection Act (VCPA). The bill could still become law if two thirds of both chambers vote to override Youngkin’s veto, but the bill originally passed the House with only 51 “Yes” votes to 49 “No,” and passed the Senate 21 to 18.
Account Recovery
MARCH 11, 2024
The Attorney General of California today announced he is throwing his support behind a bill in the state legislature that, among other provisions, would prohibit medical debts from being reported on consumers’ credit reports. The bill goes as far as to prohibit the credit reporting agencies from even accepting information about consumers’ medical debts.
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.
Qualco
MARCH 14, 2024
NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. You can view it here. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. However, in a small number of credit businesses, the right strategies for systems and people have not been set.
American Profit Recovery
MARCH 13, 2024
A healthy debt collection process helps businesses of all sizes maintain positive cash flow which is critical for many reasons. Cash flow is the backbone of any size business and positive cash flow keeps a business healthy and strong. It allows for consistent operations, a healthy bottom line, meeting the needs of your workforce and the confidence to know that you have the resources to grow if needed.
UK debt collections
MARCH 13, 2024
In the United Kingdom, an intriguing scenario has surfaced within the UK’s debt collection sector and the infamous Martin Lewis. This involves the controversial activities of a UK Debt Collection company, Barratt Smith Brown, who have been accused of sending emails with a signature resembling that of the globally renowned late pop singer, Michael Jackson.
Account Recovery
MARCH 15, 2024
For those of you who didn’t know, “The West Wing” is one of my favorite shows ever. I have watched every episode multiple times and can recite entire sections of dialogue. So as I was reading an article recently, a scene from an episode popped into my head.
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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.
Consumer Finance
MARCH 12, 2024
Director Chopra provided remarks at the Financial Data Exchange Global Summit.
American Profit Recovery
MARCH 9, 2024
Building a career in the debt collection profession can offer so many rewards and benefits for people who are looking for a stable career with growth opportunities. By forging a career in debt collections, you have an opportunity to work in an industry that is not only financially rewarding but gives you tremendous opportunity to help people daily. The debt collection industry has made dramatic changes in recent years.
UK debt collections
MARCH 15, 2024
A well known Scottish plant hire firm has entered liquidation after near half a century of trade. All jobs have been lost at a Fife based plant hire firm James Penman (Plant hire) Limited as it was put into liquidation despite trading nearly 50 years. Thirty five members of staff have been made redundant at family-run James Penman Plant Hire in Kirkcaldy after joint provisional liquidators were appointed on Tuesday, March 5.
Account Recovery
MARCH 15, 2024
Collector Facing FDCPA, FCRA Class-Action for Allegedly Parking Debt NJ Appeals Court Upholds Dismissal of Suit Against Debt Buyer Why You Need to Optimize Your Portals Cordray Lays Out Changes Coming to Student Loan Servicing Sites Skit.
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.
Jimerson Firm
MARCH 14, 2024
Having a well-drafted subcontractor agreement is crucial for identifying the responsibilities, rights, and expectations of the contractor and a subcontractor when working together to complete a project. Here are four essential tips to consider when drafting your subcontractor agreement: Tip #1: Payment Rights The subcontractor agreement should clearly outline the payment schedule for the subcontractor.
Roths Child Law
MARCH 15, 2024
Credit cards are often linked to bankruptcy, and it sometimes relates to their high interest rates. People may be attempting to pay off their debt, but they can’t do it because the interest adds so much to that debt every month. But how did they get into debt in the first place? It may be that their credit card psychologically tricked them into spending more money than they wanted to.
Troutman Sanders
MARCH 14, 2024
In this special crossover episode with Payments Pros and The Crypto Exchange , Ethan Ostroff, James Kim, and Carlin McCrory discuss the Consumer Financial Protection Bureau’s (CFPB) proposed rule to supervise large tech companies and other providers of digital wallets and payment apps. The proposed rule asserts that digital assets are “funds” subject to the Dodd-Frank Act and other federal consumer financial laws and regulations, which would expand the CFPB’s supervisory powers to examine compan
Account Recovery
MARCH 15, 2024
The suite of Generative AI-powered, self-service solutions includes voice, chat, email, and text automation to accelerate collections and enhance consumer experiences. NEW YORK, NY (March 14, 2024) – Skit.
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?
Jimerson Firm
MARCH 12, 2024
Florida divorces will now look quite different due to the passage of Senate Bill 1416. With the passage of SB1416, certain forms of alimony are eliminated and the threshold for alternating alimony awards has changed. As alimony is often one of the most hotly contested issues in a divorce, understanding the types available, as well as the potential for changes to the award amount years down the road are crucial.
Sawin & Shea
MARCH 13, 2024
If you’re considering bankruptcy, you may wonder which filing type is right for you. The two basic types of bankruptcy classifications for individuals and families are Chapter 7 and Chapter 13. A common question we receive regarding these forms is whether you can reaffirm a debt during the process. Fortunately, we’re here to answer frequently asked questions regarding reaffirmation agreements and reaffirmed debt.
Troutman Sanders
MARCH 13, 2024
Consumer reporting dominates complaints to the Consumer Financial Protection Bureau (CFPB), according to a new report. The Congressional Research Service (CRS), a nonpartisan shared staff to congressional committees and Members of Congress, issued a report discussing the CFPB’s consumer complaint process and public database. Their review of the consumer complaints submitted to the CFPB in fiscal year 2023 revealed that the significant majority (over 80%) were related to credit reporting.
Account Recovery
MARCH 14, 2024
Getting to Know Matt Jubenville of Midland Credit Management Passive Debt Buyer Meets Definition of Debt Collector Under FDCPA, Indiana State Law, State Appeals Court Rules Medical Debt Credit Reporting Bill Advances in Illinois Senate Employers Need Education on Student Loan Garnishments PRA Group Appoints Glenn Marino to Board of Directors WORTH NOTING: If you […]
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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.
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