American Profit Recovery
SEPTEMBER 26, 2024
American Profit Recovery is celebrating 20 years in business. However, we are not just celebrating being in business for two decades, we are applauding our vision come true and how we have built a reputable debt collection agency that has achieved what we set out to do in 2004. We came together because we saw an opportunity to improve just about every area of collections.
Account Recovery
SEPTEMBER 27, 2024
In a case that was defended by Jacquelyn DiCicco of J. Robbin Law, a New Jersey Appeals Court has affirmed the dismissal of a consumer’s class-action lawsuit against a group of debt buyers, ruling that there is no private right of action under the New Jersey Consumer Finance Licensing Act, and that the plaintiff’s claims under the Consumer Fraud Act were not applicable in this debt collection context.
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Enterprise Recovery
SEPTEMBER 27, 2024
Building trust is paramount in the debt recovery process, and communication is the foundation of trust. Clients are more likely to cooperate and engage positively when informed about the collections process and their options. Clear and honest communication helps to demystify the debt recovery process, reducing any anxiety or confusion the client may have.
PDC Flow
SEPTEMBER 24, 2024
Effective team management transforms your office. It can create an environment where a multigenerational workforce comes together to make a winning team. But managing different generations in the workplace isn’t always easy. A good manager must take into account the backgrounds and experiences each employee brings to their work — experiences that change with every generation. 5 Generations in the Workplace Each of the five generations in the workplace has lived through unique times that shaped t
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?
American Profit Recovery
SEPTEMBER 27, 2024
By Delaney: Debt Collectors are faced with many hurdles when trying to contact consumers to pay on past due balances. Many of these hurdles come from pre-conceived notions about what it means to have an account sent to collections, or to be contacted by a collection agency. At American Profit Recovery, we do our best every day to change the perception of the collection industry in order to educate both consumers and prospective clients on what those things truly mean.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Enterprise Recovery
SEPTEMBER 24, 2024
With the announcement that the Federal Reserve cut interest rates by half a percentage point, inflation and interest rates are a primary news topic. If you own a small business, these economic fluctuations can have significant impacts. Understanding these cycles is vital to anticipate changes in the market and adjust business development strategies accordingly.
Consumer Finance
SEPTEMBER 23, 2024
The CFPB today issued its annual report on top financial concerns facing servicemembers, veterans, and military families.
PDC Flow
SEPTEMBER 26, 2024
The Consumer Financial Protection Bureau (CFPB) is an independent federal agency responsible for maintaining the safety of customers who interact with financial businesses. Because they create and enforce the regulations that govern the credit and collection industry, debt collection agencies know this organization well. But do you know the best way to handle a CFPB complaint about your business filed directly with the Bureau?
Account Recovery
SEPTEMBER 23, 2024
The Consumer Financial Protection Bureau on Friday turned its spotlight on the risks of attempting to collect on unpaid medical bills from surviving spouses, highlighting potential legal violations by collectors who may ignore legal nuances. By the numbers: The big picture: The CFPB is concerned that debt collectors may be misleading surviving spouses into paying deceased partners’ medical debts when they’re not legally obligated to do so.
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.
Hudson Weir
SEPTEMBER 24, 2024
It’s not an uncommon scenario, unfortunately – director lends company money, company enters insolvency, company owes director money, director wants money paid back… In many cases, directors loan money to their company and charge interest (and the business does not pay corporation tax on it). In the future, the company pays the interest to directors minus income tax at the 20% basic rate, as explained in the government guide on when you lend your company money.
Consumer Finance
SEPTEMBER 23, 2024
CFPB Director Chopra issued a statement regarding DOJ’s lawsuit against Visa for illegally blocking competition in the debit card market.
Burt and Associates
SEPTEMBER 26, 2024
Table of Contents Introduction The Importance of Clear Communication in Debt Recovery Tips for Effective Conversations with Debtors 3.1. Stay Professional and Empathetic 3.2. Establish Clear Expectations 3.3. Actively Listen to the Debtor’s Concerns The Role of Communication with Stakeholders Common Pitfalls to Avoid in Debt Recovery Conversations Transitioning from Effective Communication to Action Conclusion and Next Steps 1.
Account Recovery
SEPTEMBER 24, 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!
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.
JMA
SEPTEMBER 25, 2024
In today’s competitive market, your business’s reputation isn’t just important—it’s everything. It’s what sets you apart, builds customer loyalty, and ultimately drives your success. Building trust with customers and maintaining strong relationships are the cornerstones of sustainable growth. But let’s face it—when invoices go unpaid, things can get tricky.
FFGN COLLECT NY
SEPTEMBER 24, 2024
For those in industries filled with chronically late payors, it can be difficult to know when the right time to send a client to collections is. You may worry that by placing your customer in collections, you will lose the “relationship.” But if a client doesn’t pay you and uses your money to finance their business, are they a client worth keeping?
Burt and Associates
SEPTEMBER 23, 2024
At Burt and Associates , we understand that navigating the world of debt collection can be tricky. From ensuring proper documentation to handling sensitive legal matters, avoiding common mistakes is crucial to success. This guide is designed to help businesses stay on top of their debt collection efforts while avoiding costly errors. 1. Keep Detailed Records One of the biggest mistakes in debt collection is not having the right paperwork.
Account Recovery
SEPTEMBER 25, 2024
California Governor Gavin Newsom yesterday signed a trio of bills that will significantly impact the credit and collection industry in the state. These new laws, set to take effect in 2025, will reshape how medical debt is reported, expand consumer protections, and alter the landscape for commercial debt collection. The big picture: The three bills signed into law are: SB 1061: Medical Debt Reporting Ban AB 2837: New Requirements for Wage Garnishments and Bank Levies SB 1286: Expansion of Rosent
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.
JMA
SEPTEMBER 25, 2024
Cash flow is the lifeblood of any business. Without it, even the most promising companies can find themselves struggling to stay afloat. That’s why maintaining a healthy cash flow is crucial for your business’s financial stability and long-term success. But what happens when credit control isn’t up to scratch? The result is often a cascade. Read more » The post The Impact of Poor Credit Control on Cash Flow appeared first on JMA Credit Control.
Collections Law
SEPTEMBER 23, 2024
When it comes to commercial debt collection, ethics are the bedrock of sustainable success. At the Law Offices of Alan M. Cohen & Associates LLC, we fight aggressively and relentlessly to get you paid while adhering to the highest ethical standards. With more than 50 years of combined experience practicing commercial collections law in Massachusetts, our collections lawyers have an intricate understanding of the idiosyncrasies of federal, state and local laws that provide us with the legal m
Burt and Associates
SEPTEMBER 23, 2024
The Fair Debt Collection Practices Act ( FDCPA ) is a cornerstone of consumer protection laws in the United States. It ensures that debt collectors adhere to specific ethical and legal standards when pursuing debts. Since its inception in 1977 and through several amendments (most notably Public Law 111-203 in 2010), the FDCPA has played a pivotal role in safeguarding consumer rights while also clarifying debt collectors’ obligations.
Account Recovery
SEPTEMBER 27, 2024
For the second time, a Pennsylvania Appeals Court has ruled that employees can seek liquidated damages under the state’s Wage Payment and Collection Law (WPCL) even if they have already been paid all outstanding wages before filing a lawsuit issuing the ruling in a case involving a collection agency and its former chief executive. In a 5-4 decision, the court affirmed a lower court’s order awarding the plaintiff $60,000 in liquidated damages.
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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 Industry News
SEPTEMBER 27, 2024
A Johnson & Johnson subsidiary filed for bankruptcy for a third time on Friday as the healthcare giant seeks to advance an approximately $8 billion proposed settlement that would end tens of thousands of lawsuits alleging that the company’s baby powder and other talc products caused cancer. J&J’s Red River Talc unit made its filing in the U.S.
BN Lawyers
SEPTEMBER 27, 2024
Here’s the latest risk management guidance, published in August 2024, from B&N’s Attorneys Risk Management practice group. BN – Tip of the Month – Limiting the Scope of Retention Can Limit Your Liability – August 2024 The post Barron & Newburger’s Latest Risk Management Guidance appeared first on Barron & Newburger, P.C.
Burt and Associates
SEPTEMBER 23, 2024
At Burt and Associates , we understand that navigating the world of debt collection can be tricky. From ensuring proper documentation to handling sensitive legal matters, avoiding common mistakes is crucial to success. This guide is designed to help businesses stay on top of their debt collection efforts while avoiding costly errors. 1. Keep Detailed Records One of the biggest mistakes in debt collection is not having the right paperwork.
Account Recovery
SEPTEMBER 27, 2024
Finvi, the leading provider of enterprise technologies that streamline and accelerate revenue recovery for clients across the accounts receivable management (ARM) industry, today announced a new partnership with Divinity Software, which specializes in providing state-of-the-art software solutions that empower businesses to streamline customer engagement and optimize financial performance with their easy-to-use portal.
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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