Collections Law
APRIL 5, 2022
Many businesses struggle with getting paid for their product or their work from individuals and other businesses. Perhaps your own business is trying to struggle through collecting overdue payments and you are wondering if there is something more you can do. You have more important aspects of your business to run, but you may not know at what point it becomes worthwhile to bring in a collection professional.
Debt RR
APRIL 5, 2022
To get you acclimated to this topic, commercial debt is any debt owed by a business or commercial venture. This debt is used exclusively for business expenses, asset acquisition, and improvements and is ever-present toward the start of most businesses. Commercial debt can accrue to a considerable sum, and if you are in such a situation, you are liable to pay off all the debts.
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Account Recovery
APRIL 8, 2022
A group of 18 state attorneys general sent letters to four of the largest financial institutions in the country this week, urging them to stop charging overdraft fees on consumers by this summer, and while the states did not make any threats in the letter about what would happen if the banks chose not to … The post AGs Call on Big Banks to End Overdraft Fees appeared first on AccountsRecovery.net.
American Profit Recovery
APRIL 8, 2022
By Sabrine: Looking back at when I was a college student, the last place I expected to be working at is a collection agency. Life took me to crazy places after graduation and before I knew it, I accepted a Collection Specialist position. At the time, I figured I would work at APR (American Profit Recovery) temporarily until I became certified in the field I graduated in.
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.
Enterprise Recovery
APRIL 8, 2022
It can seem daunting to imagine reconnecting with clients after 2 years of a pandemic. Or perhaps you're thrilled and ready to get back to those in-person meetings. If you've been working remotely, it's time to try on those old business clothes and get on your client's calendar again. Here's what you can expect when reconnecting with clients in person.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
APRIL 8, 2022
Days after publishing a report illustrating the amount of late fees credit card issuers are charging consumers, a published report revealed that the Consumer Financial Protection Bureau is planning to “ramp up” enforcement actions in situations where late fees are being illegally charged while also issuing new regulations that would establish how much issuers can … The post CFPB Plans to ‘Ramp Up’ Enforcement Actions Over Credit Card Late Fees: Report appeared first
American Profit Recovery
APRIL 7, 2022
Our team here handles medical debt collections for a wide range of medical practices around the country. We keep up to date on the latest legislation and guidance from both federal regulators as well as state governments. In our industry, there seem to be changes all the time when it comes to how and when we are able to deal with consumers. These adjustments are meant to protect consumers and create an even playing field to assist them and the medical practices that require payment.
Nerd Wallet
APRIL 5, 2022
Buyers are willing to pay ever-higher prices, and homes are snapped up soon after they’re listed — you might think a seller in that environment would just sit back and watch the offers roll in. However, that is not the case with U.S. homeowners. Most homeowners who plan to sell their current home in the. Kurt Woock writes for NerdWallet. Email: kwoock@nerdwallet.com.
Consumer Finance
APRIL 6, 2022
Today, the Consumer Financial Protection Bureau (CFPB) is using its rulemaking authority to propose that consumer reporting agencies (CRAs) do not prevent survivors of human trafficking from achieving financial independence. The proposed rule would protect survivors of human trafficking by preventing CRAs from including negative information resulting from abuse.
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
APRIL 7, 2022
It’s a situation that happens all-too-often in collection agencies across the country. A consumer, in this case through her attorney, submits a letter disputing the debt. But the information included in the letter doesn’t match anything the agency can find in its system. Turns out, the agency had the debt under a different last name … The post Judge Denies Plaintiff’s MSJ, Partially Grants Defendant’s Motion in FDCPA Case Over Disputed Debt appeared first on Account
Better Credit Blog
APRIL 6, 2022
If you’re ready to tackle improving your credit, a credit repair service can help save you time, energy, and a whole lot of hassle. Credit repair companies challenge items on your credit report that are inaccurate, incomplete, or unverifiable. It is possible to handle this on your own, but it requires hours on the phone, sending letters, and working with each of the three credit bureaus.
Nerd Wallet
APRIL 5, 2022
The PayPal Cashback Mastercard®, issued by Synchrony, has been a member of a growing group of credit cards earning 2% cash back on all purchases. Beginning April 5, 2022, cardholders will earn 3% cash back when they use PayPal at checkout, while still earning 2% back on purchases made wherever Mastercard is accepted. There is. Sara Rathner writes for NerdWallet.
Consumer Finance
APRIL 5, 2022
A report published today by the Consumer Financial Protection Bureau (CFPB) shows few payday loan borrowers are benefiting from no-cost extended payment plans, which are required to be offered to borrowers in the majority of states that do not prohibit payday lending.
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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.
Account Recovery
APRIL 6, 2022
Birmingham, Alabama – ARM Compliance Business Solutions is excited to announce that Tonia Brown has joined the company as a Senior Compliance Advisor. In this role, Tonia will navigate ARM Compliance Business Solutions clients through the ever-changing regulatory compliance requirements of consumer financial laws by enhancing their Compliance Management System through policy development and implementation, … The post Compliance Advisor Tonia Brown joins ARM Compliance Business Soluti
Public Citizen
APRIL 7, 2022
Do Copyright Holders Get a Free Pass to Identify Alleged Infringers? by Paul Alan Levy. Suppose that, on June 4, 2022 the owner of a China-based Twitter account were to post this 2005 photo of the Gate of Heavenly Peace, with text calling for remembrance of the martyrs of Tiananmen Square. Suppose further that, the following week, a previously unknown company based in China and claiming ownership of the copyright in the 2005 version of the iconic painting of Mao’s bust that sits o
Nerd Wallet
APRIL 4, 2022
So, you want to learn more about your money and make moves with it. Go you. “That’s a moment of self-awareness that requires celebration,” says San Francisco-based financial coach Saundra Davis. And your timing is perfect, as April is Financial Literacy Month. This designation wouldn’t exist unless many people needed help understanding their money. “You’re.
Jimerson Firm
APRIL 7, 2022
Consequential damages for breach of a construction contract are a significant risk that contractors need to understand and be aware of in connection with construction projects. This blog explains the difference between consequential damages and direct damages for breach of contract, and provides recommended ways for construction contractors to mitigate their exposure to liability for consequential damages as part of contract negotiations.
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.
Account Recovery
APRIL 6, 2022
The chairwoman of the Federal Communications Commission is calling on Congress to help amend the definition of an automated telephone dialing system because the Supreme Court’s decision in Facebook v. Duguid “could lead to less consumer protection from robocalls,” she wrote in a letter responding to a request from Rep. Vern Buchanan [R-Fla.] about the … The post FCC Chair Says Congress May Need to Act to Expand Definition of ATDS Under TCPA appeared first on AccountsRecov
Better Credit Blog
APRIL 6, 2022
If you have recently pulled your credit report and noticed a charge-off there, you might be wondering how to remove it from your report. First, know that a charge-off in your credit history is a major deal. It will most likely cause a large decrease in your credit score. So if you don’t take any steps to dispute it, the charge-off will stay on your credit report for up to seven years.
Nerd Wallet
APRIL 6, 2022
Inflation is crushing almost all aspects of Americans’ budgets — including their vacations. Prices rose on average 7.9% for the past 12 months ending in February 2022, according to the U.S. Department of Labor. And one major travel expense rose way more than that: Rental car prices skyrocketed 24% year over year. The Consumer Price. Sally French writes for NerdWallet.
Albuquerque Law
APRIL 6, 2022
The federal government has many programs available to assist citizens and their families if they face financial hardships. This financial assistance can make a big difference for families struggling to make ends meet. However, the United States Census Bureau reports that families who receive at least one kind of government aid held about the same amount of debt as those who did not participate in such benefit programs.
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?
Account Recovery
APRIL 5, 2022
The number of lawsuits alleging violations of the Fair Credit Reporting Act, Fair Debt Collection Practices Act, and Telephone Consumer Protection Act all took a nosedive in February, compared with a month earlier, according to data released last week by WebRecon. Of particular note, the number of TCPA lawsuits through the first two months of … The post Suit Totals Drop in February While Complaint Numbers Keep Rising: WebRecon appeared first on AccountsRecovery.net.
Better Credit Blog
APRIL 3, 2022
If you’re reading this article, I bet you’ve recently been contacted by a company called Portfolio Recovery Associates —and you may be wondering how to remove them from your credit report. Portfolio Recovery Associates, LLC, is a collection agency that buys old debts from lenders and companies that have been unable to collect the debt themselves.
Nerd Wallet
APRIL 6, 2022
Conventional wisdom suggests that you book travel reservations in advance to nab the best deal. But when it comes to rental cars, this might surprise you: The best time to rent a car is last minute, when they tend to be cheaper. That’s according to a NerdWallet analysis conducted in March 2022 of 360 rental. Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com.
Consumer Finance
APRIL 6, 2022
Director Chopra remarks at the April 7, 2022 combined CBAC & CUAC meeting.
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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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