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Many customers still want the option to make a payment or ask questions to a live customer service agent. After all, a conversation with an employee is often the easiest way to resolve an issue. How can organizations take payments over the phone and still keep payment data secure? SURVEY SAYS: “Nearly 7 in 10 respondents (69%) said talking to a live agent by phone is one of their top three preferred methods of communication with a company’s customer service department.
The number of complaints filed with the Consumer Financial Protection Bureau increased by 61% from 2021 to 2022, but that share of those complaints that were related to debt collection dropped by 50%, according to data released as part of a report analyzing the increase in complaints that was released by the U.S. PIRG Education … The post Consumer Complaints About Debt Collection Drop first appeared on AccountsRecovery.net.
One of the key factors that determine your credit score is your credit utilization ratio. In fact, this ratio accounts for as much as 30% of your credit score. With this much influence on your credit score, it’s important to understand what credit utilization is, how to calculate it, and how it impacts your finances. This article delves deeper into the answers to these questions.
Home Blog FICO Why Credit Scores are Crucial to Healthy Securities The value of asset-backed security is determined by the cash flows generated by the underlying assets and understanding the predictability of those cash flows FICO Admin Thu, 08/22/2019 - 12:37 by Joe Zeibert expand_less Back To Top Wed, 04/12/2023 - 15:00 What you will learn: What can increase the value and liquidity of securities How FICO Score 10 T can help you better model cash flows and analyze securities Today there is ap
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?
Your credit score communicates with lenders your level of credit trustworthiness. As a result, those with higher credit scores qualify for higher credit limits and better interest rates. Your credit score will play a major role if you plan to purchase a house or apply for a loan in the future. Understanding credit scores and what they mean can improve your financial literacy.
The Consumer Financial Protection Bureau has filed a motion in its case against Lexington Law, asking the judge to assess $3.1 billion in penalties — in the form of redress to consumers and fines — arguing that is the amount that the defendants “took” from four million consumers. A copy of the motion in the … The post CFPB Asks Judge in Lexington Law Case to Levy $3.1B in Fines and Redress first appeared on AccountsRecovery.net.
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The Consumer Financial Protection Bureau has filed a motion in its case against Lexington Law, asking the judge to assess $3.1 billion in penalties — in the form of redress to consumers and fines — arguing that is the amount that the defendants “took” from four million consumers. A copy of the motion in the … The post CFPB Asks Judge in Lexington Law Case to Levy $3.1B in Fines and Redress first appeared on AccountsRecovery.net.
Accuracy and details are crucial when invoicing business clients on retainer or for goods or services provided by your company. In fact, there are some attributes that can be added to invoices to prompt early payment or at least reduce the risk of late payments. Use these invoicing best practices so your B2B clients pay on time.
Guest Post by FitMoney As a parent of a teenager or young adult, you want to ensure that your child is financially secure and understands the importance of taxes. Filing taxes can often be confusing and intimidating, but it’s an important part of life when you start earning income. Once you know a few key concepts, filing your taxes doesn’t have to be so intimidating.
More money for the U.S. Postal Service means less money for companies in the accounts receivable management industry. The USPS announced this week a 4.8% increase in first-class stamp prices, from 63 cents to 66 cents, effective July 9. This marks the fifth price hike since early 2019 and a nearly one-third increase in stamp … The post USPS Raising Stamp Prices Again first appeared on AccountsRecovery.net.
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.
In today’s globalized world, understanding a country’s economic health is crucial to comprehending its overall well-being and development. There are several metrics that can be used to determine how well the country is performing, and one of them is called income per capita. In this article, we will be talking about what it is and why it’s so important for policymakers and economists to calculate it regularly.
Testimony of CFPB Senior Advisor Brian Shearer on Junk Fees Before the Pennsylvania House of Representatives Consumer Protection, Technology, and Utilities Committee
In the United States, it’s illegal to drive a car without car insurance. Depending on the state you’re driving in, the consequences of doing so can range from a fine to a misdemeanor on your record. So, if you’re planning on hitting the road anytime soon, be sure to purchase car insurance to avoid penalties. In this article, we’ve researched the average cost of car insurance by state to give you a better idea of how much to budget.
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 for Sending Conflicting MVNs first appeared on AccountsRecovery.net.
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.
By Katie Neill & Steve Zahn A court victory by TrueAccord Corp. (TrueAccord) in the Northern District of Illinois continues to showcase the benefits of digital collection as the court found receiving an email about a debt is less intrusive to consumers than receiving a phone call. Messer Strickler represented TrueAccord and filed the briefing in the case.
A company fronted by Homes Under The Hammer presenter Martin Roberts has gone into administration with around £3m of debts. Filing on Companies House shows that an administrator was appointed yesterday for Asset Academy, which has laid off all its staff. Customers could lose money The Mirror reports that a number of potential customers could lose money after they paid out cash and got nothing in return.
Persuading a bankruptcy judge to find “excusable neglect” after missing a filing deadline is usually a tough sell. You’d think it would be particularly hard when the party seeking relief was “belligerent and disrespectful to the Court and opposing counsel.” But in a somewhat unusual case, a court put bad behavior aside and ruled that the party making the request passed the test.
The Court of Appeals for the Ninth Circuit has affirmed a lower court’s summary judgment ruling in favor of a defendant that was accused of violating the Telephone Consumer Protection Act when it communicated with the plaintiff via text messaging, ruling that the platform used by the defendant did not meet the definition of an … The post Appeals Court Affirms Ruling Saying Text Platform was Not ATDS first appeared on AccountsRecovery.net.
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.
Scottish Businesses had over 1.2 million overdue invoices on their books this winter. Insolvency and restructuring trade body R3 analysed data from Creditsafe, revealing that 416,856 were due in December, 400,272 in January and 414,575 in February. Scotland saw the biggest month-on-month increase in late payments between January and February in the UK, with numbers rising by 3.6%.
On April 12, the Eleventh Circuit Court of Appeals vacated an $8 million class-action settlement for lack of standing. While the issue was not raised by the district court or either party on appeal, the court ruled that the plaintiffs lacked standing to seek injunctive relief because they did not allege they planned to purchase again the brain performance supplements at issue.
The Colorado legislature has passed a bill that caps the interest rate on medical debt, places new requirements on debt collectors collecting medical debt, and makes violations of the law an unfair or deceptive practice subject to additional penalties. The bill now goes to Gov. Jared Polis for his signature or veto. More details about … The post Colorado Legislature Passes Medical Debt Collection Bill first appeared on AccountsRecovery.net.
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.
Considering buying a home? A lot of folks view home ownership as a significant goal and milestone – and with good reason: When you own a home, you build equity and you save money on your taxes. And in general, it’s cheaper to own than to rent (and there’s no landlord or property management company dictating things like what color you can paint your walls).
Small businesses supplying the automotive, retail industry and manufacturing sectors face the longest-ever wait for payment from some of the UK’s largest companies, according to Good Business Pays. Supplier late payment worsening for some Good Business Pays, which campaigns to stamp out bad payment practice and poor payment culture, analysed payment data that shows that the average number of days taken to pay suppliers has risen between February 2022 and February 2023.
One of the primary reasons that you may be thinking about filing for bankruptcy is that you could benefit from the protection afforded by the automatic stay. If creditors stop demanding payment, you can catch your breath. If a foreclosure action is halted, you can work to save your home. If your wages are no longer garnished, you may be able to pay for everyday expenses.
The Supreme Court yesterday decided not to block a settlement that will cancel as much as $6 billion in unpaid student loans, after three colleges sought the high court’s intervention to detail the settlement. The three schools — Everglades College, Lincoln Educational Services Corp., and American National University — which are on a list of … The post Supreme Court Rejects Petition to Intervene in $6B Student Loan Settlement first appeared on AccountsRecovery.net.
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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