Account Recovery

SEPTEMBER 10, 2021

Monterey Financial Services announced earlier this week that it had purchased Continental Central Credit. Continental Central Credit is based in Carlsbad, Calif. Terms of the deal were not disclosed. Monterey offers debt buying, servicing, and delinquent debt recovery solutions. It was founded in 1989, according to the company’s website. “Continental Central Credit’s history and experience, … The post Monterey Financial Services Acquires Continental Central Credit appeare

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Enterprise Recovery

SEPTEMBER 10, 2021

After the sales team closes the deal and the goods or services have been delivered, the accounts receivable department ensures that your customers meet their payment deadlines. Receiving timely B2B payments reduces potential cash flow issues, ensuring vendors and employees are paid and the business continues growing. An accounts receivable specialist has certain defined responsibilities within the department.

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Nerd Wallet

SEPTEMBER 8, 2021

In an era where mask requirements flip back and forth, rules are relaxed and then restricted, and COVID-19 cases increase after they just decreased, you’re probably not keen on booking travel too far in advance. And there’s one more reason why you might not want to book in advance anyway: It’s often cheaper to book. Sally French writes for NerdWallet.

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Fico Collections

SEPTEMBER 8, 2021

We recently shared that the national average FICO® Score increased to 716 (as of April 2021). Our blog post on the subject highlighted that consumers in the lower score ranges were the biggest driver of the upward trend from 708 in the prior year. For example, for those consumers who had a FICO® Score value between 550-599 as of April 2020, their average score went up from 575 as of April 2020 to 596 as of April 2021.

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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.

Account Recovery

SEPTEMBER 8, 2021

The Consumer Financial Protection Bureau yesterday announced an enforcement action against an income share agreement provider that was accused of misrepresenting its product and failing to comply with federal law governing private student loans. The consent order, against Better Future Forward, requires the company to stop misleading borrowers, eliminate prepayment penalties, and provide required disclosures … The post CFPB Takes Enforcement Action Against ISA Provider appeared first on Ac

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Nerd Wallet

SEPTEMBER 9, 2021

This article provides information for educational purposes. NerdWallet does not offer advisory or brokerage services, nor does it recommend specific investments, including stocks, securities or cryptocurrencies. Fall is the perfect time to review your finances because there’s still time to make adjustments before the end of the year. The continuing pandemic and economic uncertainty are.

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Education 116

Consumer Finance

SEPTEMBER 8, 2021

The Consumer Financial Protection Bureau (CFPB) today filed a lawsuit in federal district court accusing LendUp Loans, LLC of violating a 2016 consent order and deceiving tens of thousands of borrowers.

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Loans 80

Account Recovery

SEPTEMBER 10, 2021

September 10, 2021 — CollaborationRoom.ai announced today a partnership with Radius Global Solutions to deploy its agent engagement tools across its global network. By using the CollaborationRoom.ai platform, Radius will enhance its engagement with its remote contact center agents. This will improve overall compliance and client performance as well as measure and track agent engagement, … The post Radius Global Solutions Partners With CollaborationRoom.ai appeared first on AccountsRecovery

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Credit Corp

SEPTEMBER 7, 2021

A good credit score will make your life a lot easier; it will help you qualify for loans, apartments and even jobs. But you’re not born with a credit history. Much like you have to spend money to make money, you need to borrow money to prove you’re good at borrowing (and paying back your debts). In fact, according to Nationwide , credit scores help insurance companies predict future losses.

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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

Nerd Wallet

SEPTEMBER 10, 2021

Digital wallets, also known as mobile wallets, have grown in popularity over the years. But the freedom to leave all your cards at home isn’t the only benefit users will enjoy. A digital wallet has many benefits outside of condensing physical cards and offering a seamless and secure payment option. The top three digital wallets. Melissa Lambarena writes for NerdWallet.

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Consumer Finance

SEPTEMBER 7, 2021

The Consumer Financial Protection Bureau (CFPB) took action today against an income share agreement (ISA) provider for mispresenting its product and failing to comply with federal consumer financial law that governs private student loans.

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Student loans Student Loans Lender Government 75

Account Recovery

SEPTEMBER 7, 2021

There is a new category of debt that emerging, digital-first collection agencies are seeing more of, and it appears this type of debt is going to become even more prevalent in the years to come, according to a recently published report. Known as “Buy Now, Pay Later,” this type of credit is being made available … The post More Consumers Taking on New Type of Debt, Calls for Regulation Get Louder appeared first on AccountsRecovery.net.

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Micro Bilt

SEPTEMBER 7, 2021

Loss prevention is only one part of risk management and risk control that financial companies need to practice. No, financial products are not stolen off warehouse pallets or from retail shops. They are taken advantage of mainly through various forms of fraud. How can you develop a loss prevention strategy? Are there any true loss prevention solutions for managing loss?

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Retail 64

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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 Agencies

Nerd Wallet

SEPTEMBER 7, 2021

You may think you need a Fairy Godmother to afford a trip to Walt Disney World. However, with the help of points and miles, I spent less than $1,600 cash for two people (including cross-country airfare) on a recent trip with my boyfriend, who shares my penchant for both Disney and frugality. Had we paid. Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com.

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Better Credit Blog

SEPTEMBER 9, 2021

After your birthday, Social Security number, and cell phone number, your credit score is the most important number in your life. Your credit score, known in the financial services industry as a Fico Score, is a snapshot of your financial history. The reason this number is so important is that it can determine whether you can get a loan for a house, car, or other essential purchase, and at what interest rate.

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Account Recovery

SEPTEMBER 10, 2021

The questions and situations that judges must decide on a daily basis can be fascinating. Case in point — when the Supreme Court ruled that an exemption which had existed for five years in the Telephone Consumer Protection Act that allowed the use of automated telephone dialing systems when contacting individuals on their cell phones … The post Appeals Court Reverses Ruling in TCPA Constitutionality Case appeared first on AccountsRecovery.net.

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Sawin & Shea

SEPTEMBER 8, 2021

It’s normal to have a lot of questions about the process and impact of bankruptcy. Even though there are hundreds of thousands of Americans who file for bankruptcy every year, it is still a pretty mystifying experience for most people. That’s one of the reasons why you should always have someone on your side during the bankruptcy process; it’s so important that you have someone available to answer your questions and guide you through the bankruptcy experience.

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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.

Nerd Wallet

SEPTEMBER 9, 2021

The price of higher education doesn’t come cheap, which means it’s a good idea to start saving while your kid is learning their ABCs — not while they’re studying for their SATs. For most people, the choice of college savings vehicle is easy: 529 plans offer some great incentives for saving. But they also come with. Arielle O'Shea writes for NerdWallet.

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Burr Forman

SEPTEMBER 7, 2021

The “Legal Elite” are voted on by other attorneys in the area who choose the top lawyers in 26 different practice group categories. Winners are nominated and selected by their peers. Those nominated are viewed as the best and most well-respected attorneys in their fields. The attorneys selected to the list are featured in the August issue of Columbia Business Monthly, Greenville Business Magazine, and Charleston Business Magazine.

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Account Recovery

SEPTEMBER 10, 2021

A motion has been filed in a West Virginia federal court to approve a settlement in a class action Fair Debt Collection Practices Act and West Virginia Consumer Credit Protection Act case that will see the defendant pay $995,000 after it was accused of sending letters that did not include updated language required under state … The post Collector Reaches $995k Settlement in Collection Letter Lawsuit appeared first on AccountsRecovery.net.

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Hudson Weir

SEPTEMBER 10, 2021

In this article we’ll look at how to resign as a company director. There’s more than one reason why you might be looking to step down from the role. Perhaps you’re looking to retire or simply want to make more space in your schedule for new projects. If this applies to you, you’ll be relieved to hear the process is straightforward. That said, it is important you follow the correct protocol when resigning as a company director.

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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

Nerd Wallet

SEPTEMBER 9, 2021

If you’re having trouble sticking to a monthly budget, the solution might not be in a fancy app or a complicated spreadsheet, but rather in your humble bank account. Whether your goal is prioritizing essential expenses or curbing a takeout habit, you can put your bank account to work to manage your money, not just. Ruth Sarreal writes for NerdWallet.

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Collections Law

SEPTEMBER 10, 2021

There is no question that a bankruptcy filing can frustrate your attempt to collect on a debt from another business in Massachusetts. You should not give up, though. You may still receive some payment through bankruptcy, even if you cannot collect on the entire amount the business owes you. At Law Offices of Alan M. Cohen LLC, we use several methods to pursue these debts.

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Account Recovery

SEPTEMBER 9, 2021

GETTING TO KNOW KEN ROWEN OF CMRE FINANCIAL SERVICES The best advice that Ken Rowen has ever received applies to how everyone in the accounts receivable management industry should operate — treat everyone well, regardless of their job title or station in life. It is following sage advice like this which has helped propel Ken … The post Daily Digest – September 9.

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Troutman Sanders

SEPTEMBER 10, 2021

On Thursday, September 9, the U.S. Court of Appeals for the Sixth Circuit issued its opinion in Lindenbaum v. Realgy LLC , reversing a district court opinion that found the Telephone Consumer Protection Act was unconstitutional from 2015 to 2020. Specifically, the Sixth Circuit found that the government-backed debt exemption — added to the TCPA in 2015 and later struck down by the Supreme Court — was severable from the statute, and the statute did not implicate unfair restrictions on free speech

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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.

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