Enterprise Recovery

DECEMBER 6, 2024

B2B debt collection requires an understanding of effective strategies to mitigate delinquent accounts. This process involves implementing proactive measures so businesses can avoid issues such as unclear credit policies, inadequate communication, and poor documentation practices. Also, technology and professional debt collection services can enhance the ability to recover outstanding debts and maintain healthy financial operations.

Collections 218

Collections 218

Account Recovery

DECEMBER 6, 2024

When you couple that the Consumer Financial Protection Bureau is making its largest-ever distribution from its Victims Relief Fund, and that it will be sending $1.8 billion to more than 4 million consumers, with the fact that those consumers were victims of bait-and-switch advertising undertaken by Lexington Law and CreditRepair.com, it’s worth mentioning.

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Bankruptcy Judgment Collections 130

Consumer Finance

DECEMBER 4, 2024

The CFPB is distributing $1.8 billion to 4.3 million consumers charged illegal junk fees by credit repair companies including Lexington Law and CreditRepair.com.

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On Guard

DECEMBER 5, 2024

While fewer than 20% of strategic decisions currently leverage AI in the Dutch finance sector, this figure is projected to surge to nearly 50% within the next five years. This is according to the latest Deloitte CFO Survey , based on a sample of over 130 Dutch CFOs from various sectors. The popularity of AI has surged with tools like ChatGPT, highlighting its ability to streamline work processes for some time now.

Credit Management 52

Credit Management Healthcare Judgment Financial services 52

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.

FFGN COLLECT NY

DECEMBER 2, 2024

What happens if a client who kept insurance funds proceeds later files for bankruptcy? Will a bankruptcy court allow the debtor to keep monies intended for you? According to a recent New York court case, the answer is no. The bankruptcy court refused to grant a discharge to a debtor who failed to turn over insurance checks to the provider. Medical and restoration services are often provided without payment upfront.

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Judgment Bankruptcy Debtor Creditors 52

Consumer Finance

DECEMBER 2, 2024

The CFPB today proposed a rule to rein in data brokers that sell Americans' sensitive personal and financial information.

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On Guard

DECEMBER 5, 2024

While fewer than 20% of strategic decisions currently leverage AI in the Dutch finance sector, this figure is projected to surge to nearly 50% within the next five years. This is according to the latest Deloitte CFO Survey , based on a sample of over 130 Dutch CFOs from various sectors. The popularity of AI has surged with tools like ChatGPT, highlighting its ability to streamline work processes for some time now.

Credit Management 52

Credit Management Healthcare Judgment Financial services 52

Credit Corp

DECEMBER 4, 2024

Debt consolidation may temporarily lower your credit score due to hard inquiries and changes in credit utilization, but consistent, on-time payments can help improve it over time. Carrying debt, whether its through personal loans, credit cards, mortgages, or student loans, is common in America. And if youre struggling to keep up with your payments, youre not alone.

Debt Consolidation 52

Debt Consolidation Consolidate Debt Credit Card Debt Loans 52

Account Recovery

DECEMBER 2, 2024

Sometimes it’s better to be lucky than good. Today’s webinar just happens to be on the topic of legal collections (register here) so it’s entirely timely to write about a court ruling involving a judgment. A District Court judge in Kentucky has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case after it was sued for not informing the plaintiff that a debt was allegedly time-barred when it sent a letter informing the plaintiff of payment opti

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Judgment Garnishment Fair Debt Collection Legal Collections 130

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.

Banks

Consumer Finance

DECEMBER 5, 2024

The CFPB sued Comerica Bank for systematically failing its 3.4 million Direct Express cardholders - primarily unbanked Americans receiving federal benefits.

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Banks 112

Collections Law

DECEMBER 2, 2024

If you run any sort of business, it is almost inevitable that someday, you will have to attempt to collect on an unpaid debt. Unpaid debts present numerous challenges for creditors. One such challenge is when a debtor claims not to have the funds to pay their unpaid debts. At the Law Offices of Alan M. Cohen & Associates LLC, our commercial collections attorneys have more than 50 years of combined experience helping our commercial clients in Massachusetts collect on their unpaid debts.

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Commercial Collection Debtor Creditors Collections 52

Credit Corp

DECEMBER 3, 2024

When youre late on payments or stop making payments on a loan, the lender can repossess or repo the item youre financing to settle your debt. Knowing how to get a repo off your credit report can help you boost your score and minimize the impact of those negative items on your credit score. Lets take a closer look at how to remove repossessions from your report.

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Repossession Debt settlement Lender Credit Bureau 52

Account Recovery

DECEMBER 3, 2024

There has been plenty of complaints about social media platforms like TikTok dispelling some crazy myths and strategies for consumers to try and get out of paying a debt, but maybe it can help consumers get out of debt, too. Could you see instructing your collectors to suggest opening up a TikTok account as a means of getting a consumer to raise money to repay a debt?

Healthcare 130

Healthcare Collections 130

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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.

Collection Agencies

Consumer Finance

DECEMBER 3, 2024

Five federal financial regulatory agencies, the Financial Crimes Enforcement Network (FinCEN), and state financial regulators issued a statement today to provide supervised institutions with examples of risk management and other practices that may be effective in combatting elder financial exploitation.

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The Kaplan Group

DECEMBER 5, 2024

A new study by The Kaplan Group , a commercial collection agency, examines subscription saas companies are doing on collection against accounts receivables from 2020 to 2024, revealing significant shifts in payment patterns and operational efficiency. The software as a service industry’s financial health can be effectively gauged through its payment collection efficiency, particularly through metrics such as Days Sales Outstanding (DSO) and Accounts Receivable to Revenue ratios.

Collections 52

Collections Commercial Collection Collections Agency Collection Agencies 52

JMA

DECEMBER 1, 2024

The supply chain is the backbone of every business, ensuring that products and services move smoothly from suppliers to customers. However, when unpaid debts and overdue invoices disrupt this delicate system, the effects can ripple far and wide. Late payments don’t just impact the immediate parties—they can trigger financial instability, strain relationships, and even jeopardise.

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Account Recovery

DECEMBER 6, 2024

EDITORS 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!

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Fair Debt Collection Healthcare Collections Agency Collection Agencies 130

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.

Consumer Finance

DECEMBER 3, 2024

The CFPB permanently banned Student Loan Pro and Judith Noh, its owner, from providing consumer financial products after violations of the Telemarketing Sales Rule.

Student loans 84

Student loans Student Loans Loans 84

NCBA Law Practice Management Blog

NOVEMBER 30, 2024

If you run a law firm that’s been around for any length of time, you’ve probably got paper files stored somewhere, taking up space, and costing you money. And, law firm owners tend to treat that as a ‘forever’ investment; they don’t see a way out of holding onto those paper files for all time. But, there are some steps you can take, to get rid of the hassle of long-term paper storage.

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Law Firms Lawyers Creditors 52

True Accord

DECEMBER 4, 2024

While many financial service institutions can offer basic payment portals, these are often limited when it comes to collecting on delinquent accounts. TrueAccord delivers a robust difference. Self-serve options should be a key part of any collections operation. In fact, research from McKinsey found that consumers who digitally self-serve resolve their debts at higher rates, are significantly more likely to pay in full, and report higher levels of customer satisfaction than consumers who pay via

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Collections Financial services Creditors 91

Account Recovery

DECEMBER 2, 2024

A pair of bills have been introduced in the House of Representatives by Rep. Maxine Waters [D-Calif.] that aim to provide regulators with more transparency about how companies in the financial services industry are using artificial intelligence. The bills were introduced days before the House Financial Services Committee holds a hearing on “How Technology is Shaping the Future of Finance.” Driving the news: One of the bills, H.R. 10263, titled the “Responsible AI Disclosure Act

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Financial services Credit Unions Credit Unions Creditworthiness 130

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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.

Collections

Consumer Finance

DECEMBER 4, 2024

The CFPB took action against student lender Climb Credit and its investors, including 1/0 (“One Zero”), which if entered will require the companies to stop making representations in their advertising about the quality of the training programs at their partner schools and graduates’ hiring rates and salaries.

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Lender Student loans Student Loans Loans 82

UK debt collections

DECEMBER 4, 2024

The Government has announced the launch of a new Fair Payment Code aimed at tackling late payments, with research showing that SMEs are on average owed £22,000 a year. It comes on top of an earlier announced consultation which will investigate the scale of the problem and best solutions. Tackling Commercial Late Payment The code, overseen by the Small Business Commissioner Liz Barclay, introduces a gold, silver, and bronze system to reward best payment practices and help smaller firms identify r

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Banks Government Trade Financial services 80

PDC Flow

DECEMBER 6, 2024

Companies that manage contracts without digital contract tracking rely on manual, outdated methods to stay organized. These processes are inefficient, cause human error, and lack scalability. Contract tracking software is a faster, more efficient way to handle and track contracts throughout an entire workflow. How to Manage and Track Contracts Its essential for your organization to know how to track contracts and other paperwork you send.

Collections 68

Collections 68

Account Recovery

DECEMBER 4, 2024

The Court of Appeals for the Sixth Circuit has affirmed a ruling in favor of a defendant in a Fair Debt Collection Practices Act case that was sued for allegedly not informing the plaintiff that the underlying debt in question was time-barred, ruling that the statute of limitations for the debt had not yet expired. The background: The case originated when the plaintiff, who had accrued several unpaid medical bills between 2011 and 2015, discovered that these debts had been reported to the credit

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Fair Debt Collection Collections Agency Collection Agencies Collections 130

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?

Financial services