Fico Collections
NOVEMBER 3, 2022
Home. Blog. FICO. Debt Collection: Have We Learned the Lessons of the Last Crises? While the current series of economic shocks may seem "unprecedented", there are clear lessons from past crises that should shape our collections strategies today. FICO Admin. Tue, 07/02/2019 - 02:45. by Bruce Curry. Senior Principal Consultant. expand_less Back To Top.
Nerd Wallet
OCTOBER 31, 2022
The Federal Reserve is expected to hike interest rates by 75 basis points on Wednesday for the fourth consecutive time in its efforts to cool a hot economy. Federal Reserve Chairman Jerome Powell said in September that he wishes “there were a painless way” to lower inflation. “There isn’t,” he said. So who is going. Anna Helhoski writes for NerdWallet.
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Account Recovery
NOVEMBER 2, 2022
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 … The post 23 Companies Seeking Collection Talent appeared first on AccountsRecovery.net.
American Profit Recovery
OCTOBER 31, 2022
We are entering a new type of economy in the coming months. If your small business wants to be prepared to weather the changing economic conditions, now is the time to act and put the systems in place to ensure your organization continues to thrive. You may already be seeing and experiencing the effects of our changing economy. Maybe your cost of goods has increased dramatically, or you have begun to see a trend in your accounts receivables, such as more people paying late.
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?
Enterprise Recovery
NOVEMBER 4, 2022
If you're reading this, it's more than likely because you've done everything you can to get a client to pay, including asking nicely , and they're simply. not paying. You may be wondering if you have any recourse at all and you really, REALLY, need to get back to running your business. Hiring a professional debt collection agency seems complex and a little uncertain.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
NOVEMBER 3, 2022
A District Court judge in Pennsylvania has lowered the fee award in a Fair Debt Collection Practices Act case, almost ending up exactly in the middle between the amount sought by the plaintiff and the amount suggested by the defendant. A copy of the ruling in the case of Bush v. LVNV Funding can be … The post Judge Lowers Fee Award in FDCPA Case appeared first on AccountsRecovery.net.
American Profit Recovery
NOVEMBER 2, 2022
To say there is endless misinformation about debt collections in the media and on the Internet would be a vast understatement. Right up front, you should know that the debt collection industry provides critical and necessary support to not only consumers and the business community but the overall economy. Just about everyone who works in the debt collection industry fully understands that it can be an uncomfortable situation as a consumer being sent to collections.
Nerd Wallet
NOVEMBER 2, 2022
Home affordability has crumbled this year, and it may erode further at the hands of the Federal Reserve. The Fed on Wednesday raised the federal funds rate by three-quarters of a percentage point to a range of 3.75% to 4%. The central bank’s action will directly or indirectly raise the floor under several consumer interest. Holden Lewis writes for NerdWallet.
Fraser
NOVEMBER 4, 2022
IRS Announces 2023 Cost-of-Living Adjustment for Retirement and Health and Welfare Benefit Plans. The Internal Revenue Service recently announced 2023 cost-of-living adjustments for retirement and health and welfare benefit plans. The significant adjustments reflect the increase in inflation over the last year. The adjustments are detailed in IRS Notice 2022-55.
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.
Account Recovery
NOVEMBER 3, 2022
The Federal Trade Commission has issued a Consent Order against a company that was accused of “lax” data security practices that resulted in four data breaches during the past five years, exposing the information for millions of individuals. The order does not include a monetary penalty, but requires the company to bolster its information security … The post Four Data Breaches in Five Years Leads to FTC Enforcement Action appeared first on AccountsRecovery.net.
PBWT
OCTOBER 30, 2022
The ramifications of uneven increases to fees in chapter 11 bankruptcies continue to ripple through federal courts. As we discussed previously , Congress enacted legislation in 2017 that temporarily increased U.S. Trustee fees chapter 11 debtors had to pay in virtually every district in the U.S. The increase was meant to offset the costs of the U.S.
Nerd Wallet
OCTOBER 31, 2022
Home buyers are looking for ways to whittle down their mortgage rates. As a result, a once-popular home-selling tactic is making a comeback. It’s called a temporary buydown, and it was widely used when mortgage rates were zooming upward in the late 1970s and early 1980s. The revival of the temporary buydown is timely, as. Holden Lewis writes for NerdWallet.
UK debt collections
OCTOBER 31, 2022
With the UK economy likely to fall into a recession, small business late payments were made on average 8.2 days later in September. This is the highest small business late payment time since August 2020 according to the latest data from Xero, the global small business accounting platform. Xero’s Small Business Index , based on aggregated data from hundreds of thousands of small businesses, found that in the UK unpaid invoices are paid significantly later than they are in Australia (6.5 days) and
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
NOVEMBER 1, 2022
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 … The post FCRA Suit Alleges Impermissible Purpose, Failure to Investigate Disputed Debt appeared first on AccountsRecovery.net.
Consumer Finance
NOVEMBER 1, 2022
CFPB Director Chopra’s remarks, as prepared for delivery, at a meeting of the Consumer Advisory Board.
Nerd Wallet
NOVEMBER 4, 2022
Inflation has come for most things, including travel expenses like hotels and airfare. But the cost of TSA PreCheck has undergone a bit of deflation. The Transportation Security Administration has lowered the price for TSA PreCheck from $85 to $78. That’s good news for travelers who want to speed through security without the clunkiness of. Sally French writes for NerdWallet.
Troutman Sanders
NOVEMBER 4, 2022
On October 31, a Texas federal court ordered a stay in a Consumer Financial Protection Bureau (CFPB) enforcement action, pending the issuance of the Fifth Circuit mandate in Community Financial Services Association of America Ltd. v. CFPB , which declared the CFPB funding mechanism unconstitutional. In the enforcement action CFPB v. Populus Financial Group, Inc. , the parties requested the stay since the mandate will control the resolution of key issues presented in the defendant’s pending motio
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
NOVEMBER 1, 2022
Coming out of the COVID-19 pandemic has forced the accounts receivable management industry to face new realities, especially when looking at all of the factors influencing the performance of a collection operation, from contact rates to staffing concerns to the impact that inflation and a possible recession might have on consumers, noted Shantanu Gangal, the … The post Prodigal’s Shantanu Gangal Talks About How Quiet Quitting and Inflation Have Changed the ARM Industry, Possibly Fore
UK debt collections
NOVEMBER 4, 2022
The latest Government insolvency statistics for Q3 2002 show a significant increase in the volume of companies in distress. There were 16,105 corporate insolvencies in the first three quarters of 2022 compared to 9,433 during the same period in 2021 – a 71% rise. Quarterly insolvency statistics for July to September (Q3) 2022 also show corporate insolvency appointments are currently over 50% higher than levels in 2021.
Nerd Wallet
NOVEMBER 3, 2022
Your savings account rate might change for the better this November. The reason? The Federal Reserve raised the federal funds rate by three-quarters of a percentage point, or 0.75%, on Nov. 2, marking the sixth increase of this rate in 2022. After a Fed rate increase, banks and credit unions tend to raise rates on. Spencer Tierney writes for NerdWallet.
NCBA Law Practice Management Blog
NOVEMBER 4, 2022
Every law firm owner is aware that outside actors can breach data, and cause a host of problems. Hackers are the bogeyman, in this situation. And so, much concern is spent over password management , encryption and email scams, including ransomware and phishing. But, to have a truly effective data security program, law firms also need to consider the access that internal staff enjoys.
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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
NOVEMBER 1, 2022
FCRA SUIT ALLEGES IMPERMISSIBLE PURPOSE, FAILURE TO INVESTIGATE DISPUTED DEBT A defendant has removed a Fair Credit Reporting Act lawsuit to federal court in South Carolina, after it was sued for allegedly obtaining a plaintiff’s credit file without a permissible purpose and allegedly failing to conduct a reasonable investigation after a dispute was filed.More details … The post Daily Digest – November 1.
Troutman Sanders
NOVEMBER 3, 2022
Please join Troutman Pepper Partner Chris Willis and his guest and colleague Brooke Conkle as they discuss the Federal Trade Commission’s (FTC) recent consent order with Passport Auto Group. The FTC alleged Passport violated the law in three areas: Passport had a practice of marking up fees from the advertised price; Passport had a discretionary markup practice that caused Black and Latino customers to pay higher fees; and it charged Black and Latino customers additional fees for markups for ext
Nerd Wallet
NOVEMBER 2, 2022
Ever since pop superstar Taylor Swift’s not-so-subtle announcement on “The Tonight Show” last week, Swifties everywhere have been wondering and waiting with bated breath: When’s the tour? As of Nov. 1, 2022, Swift made it official. Kicking off March 18, 2023, in Glendale, Arizona, the U.S. leg of “The Eras Tour” will include 27 shows. Jaime Hanson writes for NerdWallet.
NCBA Law Practice Management Blog
NOVEMBER 4, 2022
It’s 2022, and everybody is still kind of bad with passwords. Many passwords, in fact, still contain the word. password. That can’t be good. However, there are three simple moves that you can make to ensure that your passwords are more impressive, and difficult to hack. That will, in turn, better secure the systems that you are using passwords to protect – which, at this juncture, are pretty much all your systems.
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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