Sat.Oct 24, 2020 - Fri.Oct 30, 2020

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Collection agencies can help with some of your biggest concerns

American Profit Recovery

The amount of concerns and issues a business owner, entrepreneur or anyone in senior leadership has on their minds on any given day can be countless to say the least. From bringing in enough business, being able to handle that business, everything to do with hiring and firing, cash flow, legal matters, and so much more. And if you are in one of these positions, then you know this all too well.

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Recovering Your Debt in Time: What is the Statute of Limitations in Australia?

JMA

Incurring Debts from Delinquent Clients Debt is a very normal part of running a business – whether you are offering products or services, you may have clients in debt to you, or you may indeed be in debt to others, such as suppliers. Bad Business debts don’t happen by accident, and while it may be. Read more » The post Recovering Your Debt in Time: What is the Statute of Limitations in Australia?

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CFPB Releases Debt Collection Rule

Account Recovery

The Consumer Financial Protection Bureau today released its debt collection rule, continuing its process of modernizing the regulation of the accounts receivable management industry. The rule — all 653 pages of it — can be accessed by clicking here. The changes announced today will go into effect one year after they are published in the … The post CFPB Releases Debt Collection Rule appeared first on AccountsRecovery.net.

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4 Tax Triggers New Investors Need to Know About

Nerd Wallet

Many Americans started investing for the first time during the pandemic, but even though their trades may have been free, the money involved might soon come with a bill from the IRS. If you’re a new investor, here are four things that could trigger a tax-related hit — and what tax pros say you can. Tina Orem is a writer at NerdWallet. Email: torem@nerdwallet.com.

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Solve Your Firms Automation Complexities Once and For All

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.

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Why cash flow is so important

American Profit Recovery

There are many reasons collection agencies exist. And while many consumers do not like being on the receiving end of a communication from a collection agency, companies like ours provide a necessary service to organizations that have challenges in getting their customers and clients to pay or pay on time. It does not matter what size your company is.

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NCLC Report Calls Out States For Poor Exemption Protections

Account Recovery

You have to hand it to consumer advocacy groups. They know how to name a report that will grab everyone’s attention. The National Consumer Law Center yesterday released a report, “No Fresh Start 2020: Will States Let Debt Collectors Push Families Into Poverty In The Wake Of a Pandemic?” which grades each state on their … The post NCLC Report Calls Out States For Poor Exemption Protections appeared first on AccountsRecovery.net.

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What to Know About Buying an Investment Property

Nerd Wallet

An investment property is real estate bought for the purpose of generating income. Investment properties can come with challenges, such as maintenance costs and more stringent financing requirements — including higher interest rates and a larger down payment — compared with mortgages on primary homes. What is an investment property? An investment property generates income.

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How an Old Checking Account Can Come Back to Haunt You

Credit Corp

Old checking accounts can become troublesome if you’re not paying attention to them. Whether they’re overdrawn before you move on to another account or become overdrawn because you’re not monitoring them regularly, they can leave you on the hook for debt. If you’re not careful, old bank accounts can even affect your credit and the amount your debt will cost you over a lifetime.

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Consumer Financial Protection Bureau Issues Final Rule to Implement the Fair Debt Collection Practices Act

Consumer Finance

On October 30, 2020, the Consumer Financial Protection Bureau issued a final rule to restate and clarify prohibitions on harassment and abuse, false or misleading representations, and unfair practices by debt collectors when collecting consumer debt.

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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

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.

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Daily Digest – October 30. Second Court Rules TCPA Unconstitutional For Calls Made Before July SCOTUS Ruling; NCLC Calls Out States

Account Recovery

SECOND COURT RULES TCPA UNCONSTITUTIONAL FOR CALLS MADE BEFORE JULY SCOTUS RULING Another District Court judge has granted a defendant’s motion to dismiss in a Telephone Consumer Protection Act case on the basis that calls made to an individual’s cell phone using an automated telephone dialing system before July 6 — when the Supreme Court … The post Daily Digest – October 30.

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Is It a Good Time to Buy a House?

Nerd Wallet

If you’re wondering whether it’s a good time to buy a house, ask this instead: Is it a good time in my life to buy a house? Current economic indicators and the state of your local housing market give important context for your decision. But whether this is a good time for you to buy. Barbara Marquand is a writer at NerdWallet. Email: bmarquand@nerdwallet.com.

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ADP Workforce vs Square Payroll: Plans, Cost and Features

Nexa Collect

ADP Workforce and Square Payroll are both HR management tools that wrap several functions into a single software package. Both are highly-rated with large, established userbases, and they do more or less the same thing. However, while they share much of the same functionality, that doesn’t mean that each is right for every business. Depending on how features are implemented, the size of an organization and its software budget, one package may be a better fit than the other.

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Fast and Effective Ways to Pay Down Debt

Debt Guru

Are you heavy in debt and need to get out from under the burden? Is debt limiting your options in life and you need a way out? Debt has a way of creeping up on all of us, especially when we least expect it. If this has happened to you, and you know it’s time to make a change, these are some simple strategies that can help you make big dents in your debt.

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How Collection Agencies Minimize Effort and Maximize Results with the Right Software

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.

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Second Court Rules TCPA Unconstitutional for Calls Made Before July SCOTUS Ruling

Account Recovery

Another District Court judge has granted a defendant’s motion to dismiss in a Telephone Consumer Protection Act case on the basis that calls made to an individual’s cell phone using an automated telephone dialing system before July 6 — when the Supreme Court ruled in Barr v. American Association of Political Consultants — relinquished the court’s subject … The post Second Court Rules TCPA Unconstitutional for Calls Made Before July SCOTUS Ruling appeared first on AccountsRecove

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5 Credit Mistakes That Can Haunt You

Nerd Wallet

Some credit mistakes are a lot worse than others. Little ones, like paying a credit card bill a day late, may cost you a penalty fee, but that’s a relatively minor irritation — it’s not going to stand between you and a mortgage. Other seemingly small slip-ups can lead to full-fledged disasters. What makes a. Bev O'Shea is a writer at NerdWallet. Email: boshea@nerdwallet.com.

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How SBA Lenders Ensure Expense Recovery in Loan Liquidation and Litigation

Jimerson Firm

Lenders should be cognizant about what expenses are classified by the SBA as recoverable or non-recoverable. The SBA does not pay for non-recoverable expenses, such as any fee or cost incurred that was not necessary, reasonable or customary. In addition, the SBA does not pay for legal expenses for non-routine litigation without the SBA’s prior approval of a Litigation Plan or Amended Litigation Plan.

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Senators, State AGs, and Consumer-Protection Groups File Amicus Briefs Advocating Broad Interpretation of ATDS Definition

TCPA

Last Friday, various elected officials and consumer-protection groups filed amicus briefs urging the Supreme Court to adopt the expansive interpretation of the ATDS definition for which Plaintiff Noah Duguid had advocated in a brief he filed the week before.

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

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.

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Daily Digest – October 28. Judge Denies Motion for Attorneys’ Fees in FDCPA Case; Colorado Extends Provisions Limiting ‘Extraordinary’ Collections

Account Recovery

JUDGE DENIES MOTION FOR ATTORNEYS’ FEES IN FDCPA CASE In a ruling that was spotlighted by Barron & Newburger, a District Court judge in Pennsylvania has granted a plaintiff’s motion to dismiss his own lawsuit and denied a defendant’s motion for attorneys’ fees and costs in a Fair Debt Collection Practices Act case. COLORADO EXTENDS … The post Daily Digest – October 28.

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Mortgage Denial Data Reveals How to Boost Your Approval Odds

Nerd Wallet

Getting approved for a mortgage is never easy. Even with great credit and a big down payment, the process can be cumbersome. In 2020, the process has become even more difficult. Lenders have tightened standards in response to the economic uncertainty during the coronavirus pandemic. Borrowers, hoping to buy a home while interest rates are. Elizabeth Renter is a writer at NerdWallet.

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Consumer Financial Protection Bureau Announces Settlement With Washington Federal Bank, N.A. For Flawed Mortgage-Loan Data Reporting

Consumer Finance

Today, the Consumer Financial Protection Bureau settled with Washington Federal Bank, N.A., a federally insured national bank, to address the Bureau’s finding that it reported inaccurate Home Mortgage Disclosure Act data about its mortgage transactions for 2016 and 2017.

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Choosing a Payment Gateway for Your Accounts Receivable Business

PDC Flow

Running your accounts receivable business takes planning, organization, and the right tools. Along with the AR software needed to manage accounts, you need the right payment gateway, suited to meet the unique needs of the industry. What is a payment gateway and how do you choose the right one for accounts receivable ? What is a Payment Gateway? What is a payment gateway and how does it work ?

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How To Optimize Cash Flow: Your Roadmap To Resilience!

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?

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CFPB Stands Behind Collector for Itemizing Debt in Letter

Account Recovery

Thanks to the team at Ballard Spahr for noticing that the Consumer Financial Protection Bureau filed an amicus brief in support of a debt collector’s position that it did not violate the Fair Debt Collection Practices Act when it included line items indicating that an individual owed $0.00 in interest and collection fees in a … The post CFPB Stands Behind Collector for Itemizing Debt in Letter appeared first on AccountsRecovery.net.

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What to Know About a Credit-Based Insurance Score

Nerd Wallet

You have a flawless driving record, never had a gap in coverage and you’re the only one on your policy. Yet your car insurance rates still are higher than all your utility bills combined. One possible culprit? Having poor credit, or, more specifically, a low credit-based insurance score. What is a credit-based insurance score? Your. Kayda Norman is a writer at NerdWallet.

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How To Remove Ad Astra Recovery Services, Inc. From Your Credit Report

Better Credit Blog

Is Ad Astra Recovery Services stressing you out with calls about outstanding debts? Being contacted by a collections agency can be frustrating, but the damage to your credit score can be far worse than their persistent phone calls and letters. Did you know that a collections entry can hurt your credit for seven years if you don’t get it deleted from your report?

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Tennis Legend accused of ‘hiding’ Trophies from Debt Collectors

UK debt collections

Tennis legend Boris Becker has appeared in court at Southwark Crown Court in London , accused of failing to hand over his trophies to help clear unpaid debts. Becker had been declared as bankrupt in 2017 due to a large debt owing to a bank. He is accused of failing to comply with obligations of disclosing information to officials. A 28 count indictment mentions all of Wimbledon trophies and his Australian open trophies from 1991 and 96.

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When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

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.