Credit Management Company

SEPTEMBER 30, 2022

When individuals or businesses fall behind in payments, the situation often results in frustration and a breakdown in communication for both the debtor and the creditor. Falling on hard times or being unable to meet financial obligations is never a smooth process, but there are steps creditors can take to create better relationships with debtors. Building positive relationships, or at least productive ones, goes beyond the baseline step of following the Fair Debt Collection Practices Act (FDCPA)

Debtor 52

Debtor Creditors Fair Debt Collection Collections 52

True Accord

SEPTEMBER 28, 2022

Just as technology has evolved leaps and bounds, so have consumer communication preferences, especially when it comes to debt collection. The Consumer Financial Protection Bureau (CFPB) recognized in Regulation F—rules updating the Fair Debt Collection Practices Act (FDCPA)—that consumers in debt want to communicate with debt collectors through digital channels, like email and SMS.

Collections 85

Collections Fair Debt Collection Debt collector Lender 85

Account Recovery

SEPTEMBER 27, 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 Collector Facing Class Action for Allegedly Shortening Validation Period appeared first on AccountsRecovery.net.

246

246

Consumer Finance

SEPTEMBER 28, 2022

Repeat offender will refund at least $141 million to customers and pay $50 million penalty.

Banks 145

Banks 145

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

SEPTEMBER 29, 2022

When selling your goods and services to another business, it's wise for both parties to sign a legally-binding agreement. This agreement will set expectations for both parties as well as provide proof of the arrangement if one of the parties doesn't come through. A contract is an invaluable record that you and your business client are willingly working together.

130

130

Account Recovery

SEPTEMBER 29, 2022

TAMPA, Fla. – Sept. 26, 2022 – ProVest, an industry leader in serving legal process,announced a new compliance solution for its clients. Clients can now follow each audit step taken on every job in the ProVest QA PDF document. Files can be exported and stored on the client’s system for easy retrieval and used as … The post ProVest Introduces a Compliance Solution appeared first on AccountsRecovery.net.

Retrieval 246

Retrieval 246

Consumer Finance

SEPTEMBER 29, 2022

The online lender allegedly required customers to pay hefty fees to access loans and often refused to cancel memberships.

Lender 118

Lender Loans 118

PBWT

SEPTEMBER 30, 2022

To encourage parties to transact with debtors in bankruptcy, the Bankruptcy Code in corporate bankruptcies provides highest priority to “administrative expenses,” which include “the actual, necessary costs and expenses of preserving the estate.” 11 U.S.C. § 503(b); id. § 507(a)(2). Section 365 of the Bankruptcy Code permits the assumption or rejection of any executory contract—a contract in which the parties have ongoing duties of performance to each other

Bankruptcy 112

Bankruptcy Debtor Lender Government 112

Nerd Wallet

SEPTEMBER 28, 2022

Some would-be home buyers are rooting for a full-on housing market crash because prices have zoomed so far past the point of affordability. Please “crash faster so I might be able to own my own place one day,” a Twitter user pleaded. Another user tweeted, “Let’s hope there’s a housing market crash so people have. Holden Lewis writes for NerdWallet. Email: hlewis@nerdwallet.com.

126

126

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

Account Recovery

SEPTEMBER 28, 2022

Buried inside a resolution introduced last week in the House of Representatives that seeks to codify that access to utilities, such as heat, water, and electricity are human rights is language that would ban the sale of uncollected household debt to collection agencies and filing “adverse” reports with credit reporting agencies, among other provisions.

Collection Agencies 246

Collection Agencies Collections Agency Collections 246

Consumer Finance

SEPTEMBER 29, 2022

Blanket withholding of academic transcripts to pressure borrowers to pay cited as unlawful.

Student loans 113

Student loans Student Loans Lender Loans 113

Fraser

SEPTEMBER 27, 2022

Medicare Part D notices (of either creditable or non-creditable coverage) are due for distribution prior to October 15th. . The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 requires entities who offer prescription drug coverage to notify Medicare Part D eligible individuals whether their prescription coverage is creditable coverage.

Acquisition 85

Acquisition 85

Nerd Wallet

SEPTEMBER 24, 2022

Gas inflation has broken records at a dizzying pace: In June 2022, the national average gas price hit a high of more than $5 per gallon, according to data from the U.S. Energy Information Administration. Simultaneously, the Consumer Price Index, which measures how the cost of consumer goods and services changes over time, saw its. Hillary Crawford writes for NerdWallet.

109

109

Advertisement

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

Account Recovery

SEPTEMBER 26, 2022

The threshold for establishing that you suffered a concrete injury in violation of the Fair Debt Collection Practices Act upon receiving a collection letter may be higher than its ever been for a plaintiff, but I think everyone can agree that claiming you did not even appear to read it is going to cause problems … The post Not Reading Collection Letter Leads Judge to Remand FDCPA Case Back to State Court appeared first on AccountsRecovery.net.

Fair Debt Collection 246

Fair Debt Collection Collections 246

True Accord

SEPTEMBER 30, 2022

Anyone working in the collections space should be familiar with the federal Fair Debt Collection Practices Act (“FDCPA”) and its regulation, Regulation F; but did you know that there are multiple debt collection laws and regulations at the state and local level too? State and local laws and regulations often mirror aspects of the FDCPA, however, there are a handful which are remarkably different from the FDCPA.

Debt collector 83

Debt collector Fair Debt Collection Collections 83

UK debt collections

SEPTEMBER 26, 2022

A leading Debt Collection Agency in the UK has been enlisted by the world’s longest running television soap to assist them with script writing for storylines. Coronation Street is watched by millions of television viewers every week in the UK and attracts a worldwide audience also. They are reportedly running a storyline involving Professional Debt Collectors and approach award-winning debt collection agency Federal Management for assistance.

Debt collector 59

Debt collector Collections Collection Agencies Collections Agency 59

Nerd Wallet

SEPTEMBER 29, 2022

Fraud is a persistent problem for the insurance industry, and it’s one we all pay for. The Coalition Against Insurance Fraud estimates it costs insurers $308.6 billion a year industrywide, leaving customers to recoup the losses with higher rates. People commit life insurance fraud to the tune of $74.7 billion a year, according to the. Katia Iervasi writes for NerdWallet.

106

106

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

SEPTEMBER 29, 2022

The Federal Communications Commission yesterday announced a Notice of Proposed Rulemaking that seeks to crack down on illegal and fraudulent text messages, finally taking action more than a year after initially announcing the proposal. The number of complaints received by the FCC related to unwanted text messages increased by 146% between 2019 and 2020, and … The post FCC Starts Rulemaking Process to Block Unwanted Text Messages appeared first on AccountsRecovery.net.

246

246

Troutman Sanders

SEPTEMBER 30, 2022

A recent federal court decision from the Northern District of Texas offers some useful lessons and insights for creditors relying on the Military Lending Act’s (MLA) safe harbors for verifying whether a consumer is a “covered borrower.”. In Greenwood v. Cottonwood Financial, Ltd. , 2022 WL 3754706 (N.D. Tex. 2022) ( see also court decision here ), the plaintiff obtained a high-APR cash advance from a lender that used status reports from a nationwide consumer reporting agency (CRA) to verify appl

Lender 52

Lender Creditors Loans Financial services 52

Fico Collections

SEPTEMBER 30, 2022

Home. Blog. FICO. Meet Our 2023 FICO Decisions Awards Judges. Panel of 8 global experts to review outstanding results with AI, machine learning and digital transformation. Saxon Shirley. Thu, 05/12/2022 - 10:29. by Nikhil Behl. expand_less Back To Top. Thu, 09/29/2022 - 15:15. FICO has announced its panel of independent judges for the 2023 FICO® Decisions Awards , which honor businesses achieving outstanding results using analytics and decision management technology to grow their business, mana

Retail 52

Retail Startups Banks Financial services 52

Nerd Wallet

SEPTEMBER 27, 2022

Years ago, there were business travelers and there were leisure travelers, and nary did the perks of the high-flying former trickle down to the economy-focused latter. Airport lounges that offer cozy chairs, free buffet spreads and an open bar while you wait to board? Those were reserved for the business traveler in the tailored suit. Erin Hurd writes for NerdWallet.

104

104

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

Account Recovery

SEPTEMBER 26, 2022

A nonprofit healthcare system that is already being sued by the Attorney General of Washington for its debt collection practices has now been spotlighted by The New York Times for the “pressure” it put on patients to pay their debts, even though they may have been eligible for charity care. The article shares details of … The post Article Details Collection Efforts of Nonprofit Hospital From Individuals Eligible for Charity Care appeared first on AccountsRecovery.net.

Healthcare 246

Healthcare Collections 246

Troutman Sanders

SEPTEMBER 30, 2022

Please join Troutman Pepper Partner Chris Willis and his guests and colleagues Alan Wingfield and Brooke Conkle as they discuss the Federal Trade Commission’s (FTC) recent Notice of Proposed Rulemaking governing voluntary products in automobile finance transactions. During the podcast, they examine the requirements imposed on both advertising practices and the sales process and what it means for the automotive industry.

Trade 52

Trade Financial services Government 52

Price Meese

SEPTEMBER 30, 2022

Greg Meese and Ed Purcell will be presenting a nation-wide webinar for Thomson Reuter’s West Legal Education Center entitled “Rules of the Road-Siting Small Wireless Facilities in the Public Rights-of-Way” on October 5, 2022 at 12:00 p.m. Fifth generation (“5G) wireless technology is the future of communications in the United States. Small wireless facilities, located in every city’s public right-of-way, will be needed to roll out these new 5G services.

Education 52

Education 52

Nerd Wallet

SEPTEMBER 29, 2022

While inflation is pushing up prices for almost everything else, Medicare is about to be less expensive. Medicare Part B premiums will go down for 2023, according to an announcement Tuesday by the Centers for Medicare & Medicaid Services, or CMS. The monthly premium for Medicare Part B will fall to $164.90 in 2023 for. Alex Rosenberg writes for NerdWallet.

104

104

Advertisement

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