American Profit Recovery
NOVEMBER 25, 2024
Utilizing a reputable collection agency for your all business or larger organization is one of the best ways to dramatically improve cash flow. And, it’s also a strategic tool in retaining your customers even if they do owe you money. Professionally trained debt collectors understand how to listen, show empathy, understand individual situations and take the time to solve problems with consumers.
Enterprise Recovery
NOVEMBER 25, 2024
One of the most challenging parts of starting a business or working independently is deciding on your rates. After that, you must negotiate contract terms with your clients, including asking to get paid for your work. Navigating the complex world of B2B payments can be daunting for business owners, but mastering effective negotiation strategies can ensure you always get paid for your hard work.
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Account Recovery
NOVEMBER 29, 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!
Qualco
NOVEMBER 26, 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.
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.
NCBA Law Practice Management Blog
NOVEMBER 23, 2024
Some lawyers love to practice law; and, they would do it for the rest of their lives, if they could. But, for other attorneys, the practice of law – really, building a law firm, as a business – is a way out, of the practice of law. It is/will be the thing that provides them with enough revenue, to do what they really want to do. For some attorneys, that’s the end game.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
NOVEMBER 29, 2024
A California Appeals Court has reversed a lower court’s ruling in favor of a collection law firm and debt collection operation that were sued for violating the Fair Debt Collection Practices Act (FDCPA), ruling that the public interest exception to the state’s anti-SLAPP law applies to the case. The background: The plaintiff, who had defaulted on student loans, was sued by a collection law firm.
Collection Industry News
NOVEMBER 24, 2024
When Will Mortgage Rates Go Down? Mortgage rates are expected to fall below 6% in 2025, but the forecast is far from guaranteed. In January 2023, some analysts thought that rates would be around 4.5% by the end of 2024, which obviously didn’t come to pass. Fed Chair Jerome Powell says it best: “Forecasting are highly uncertain. Forecasting is very difficult.
Account Recovery
NOVEMBER 29, 2024
Collector Sued for Not Honoring Email Opt Out Musk Calls for Elimination of CFPB CFPB Plans to Move Forward with Medical Debt Credit Reporting Rule: Report California Appeals Court Overturns Ruling in Debt Collection Case WORTH NOTING: A pug won the National Dog Show for the first time ever … How to save $100 every month on your food bill … A lot of people are moving to Southern states, but it’s not for the weather … If you want to be financially successful, you may need
Account Recovery
NOVEMBER 25, 2024
The latest Outlook on American Life report from H&R Block offers a mixed view of Americans’ financial health. While income gains outpaced inflation for many, especially younger generations, rising debt — particularly credit card and student loans — continues to weigh heavily on households across the country. Understanding these consumer behaviors and trends is crucial for collections professionals looking to assess repayment potential.
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 27, 2024
The latest Spending in Retirement study from the Employee Benefit Research Institute (EBRI) reveals a concerning trend for retirees, with many struggling to make ends meet due to rising credit card debt, insufficient savings, and inflationary pressures. The big picture: The survey found that retirees’ well-being and satisfaction are declining, while outstanding credit card debt has surged.
Account Recovery
NOVEMBER 27, 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. This is merely meant to be a service to aggregate industry job opportunities into one convenient location.
Account Recovery
NOVEMBER 27, 2024
As you may know, there are two FDCPAs — the Fair Debt Collection Practices Act and the Federal Debt Collection Procedures Act. This case involves the second FDCPA and is related to attempts by the Consumer Financial Protection Bureau to collect on judgments from a husband and wife who are accused of hiding millions of dollars to settle fines and penalties related to a payday lending scam.
Account Recovery
NOVEMBER 27, 2024
Minnesota Attorney General Keith Ellison announced yesterday that his office has filed a consent order to resolve an investigation into several online lenders under LDF Holdings LLC. The investigation focused on the lenders’ practices of charging exorbitant interest rates on small loans, which violated Minnesota’s usury laws, and misleading consumers about their repayment obligations.
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Account Recovery
NOVEMBER 26, 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!
Account Recovery
NOVEMBER 26, 2024
The Indiana Court of Appeals has affirmed a ruling in favor of defendants that were sued by a revenue cycle management company for violating a second non-compete agreement, which came four years after one of the defendants signed her first agreement when she started working for the company. The defendant was told that if she didn’t sign the second non-compete agreement, she would be fired.
Account Recovery
NOVEMBER 26, 2024
Financial well-being is falling across many demographics, and more Americans are struggling to keep up with everyday expenses. This trend is crucial for the credit and collection industry, as it may impact consumers’ ability to repay debts. Overall financial stability declined from 2023 to 2024, according to the Consumer Financial Protection Bureau’s “Making Ends Meet 2024” report.
Account Recovery
NOVEMBER 26, 2024
The introduction of generative AI-powered voice bots in customer support marks a significant advancement in operational efficiency for contact centers and credit and collection operations. The technology demonstrates the potential to enhance consumer interactions, reduce costs, and streamline communication about unpaid debts. Meesho, a Softbank-backed online shopping platform in India, has launched what it claims is the first generative AI (GenAI) powered voice bot among Indian e-commerce firms,
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
NOVEMBER 26, 2024
Attorney Facing FDCPA Class Action for Allegedly Attempting to Collect on Judgments for Bankrupt Creditor Indiana Appeals Court Affirms Ruling in Non-Compete Case Involving RCM Provider Financial Health Declines in 2024: More Households Struggle to Make Ends Meet India’s Meesho Cuts Customer Support Costs with AI Voice Bot WORTH NOTING: What does it say about technology when the man behind ChatGPT carries around a pen and paper with him?
Account Recovery
NOVEMBER 25, 2024
Judge Dismisses FDCPA Claims in Class Action Over Traffic Fine Debts Medical Debt Still a Major Burden for Americans: Study America’s Financial Reality: Rising Income but Burdensome Debt Compliance Digest – November 25 WORTH NOTING: Tips to help you take better pictures with an iPhone … Science-based stress busters to help you get through the chaos of the holiday season … Sign up to fight for Russia in its war with the Ukraine and you could have up to $100,000 in debt forgiven …
Account Recovery
NOVEMBER 25, 2024
Despite progress in health insurance coverage over the past decade, millions of Americans are still struggling under the weight of medical debt. With 26 million Americans lacking health insurance in 2023, and many others underinsured, the healthcare landscape remains challenging. The Commonwealth Fund’s latest survey highlights the persisting barriers to accessing timely care and the financial burdens many face due to medical costs.
Account Recovery
NOVEMBER 25, 2024
I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.
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
NOVEMBER 27, 2024
Kansas Court to Decide Federal Preemption Question in CFPB Collection Case Minnesota Attorney General Reaches Consent Order with Lenders Over Illegal Debt Collection Practices Retirees Are Tightening Their Belts as Financial Pressures Mount 21 Companies Seeking Collection Talent WORTH NOTING: For the family that wears matching PJs during the holiday season … A guide to the holiday movies of 2024 … The one small tweak that will make your stuffing the hit of Thanksgiving dinner …
Collection Industry News
NOVEMBER 25, 2024
The Federal Trade Commission is taking action against a Georgia-based debt collector that tricked consumers into paying more than $7.6 million in bogus debt by threatening them with jail time, harassing their family members, and other unlawful actions. In response to a federal court complaint filed against Global Circulation, Inc. (GCI) and its owner, Kenneth Redon, III, the court agreed to temporarily halt the company’s operation and ordered it to turn its assets over to a court-appointed recei
Account Recovery
NOVEMBER 25, 2024
A District Court judge in Nevada has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act class-action lawsuit, disagreeing with the plaintiff’s argument that traffic fines should be subject to the statute because driving a car is a consumer use. The background: The plaintiffs received letters and recorded phone calls from the defendant seeking to collect unpaid fines related to misdemeanor traffic citations.
Account Recovery
NOVEMBER 29, 2024
And you thought the Thanksgiving holiday weekend was going to be a slow news day … Billionaire Elon Musk, who has been tasked by President-elect Trump with identifying ways to reduce government spending, suggested in a post on his social media platform on Wednesday that the Consumer Financial Protection Bureau be eliminated because it is a “duplicative regulatory” agency.
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