AGA

NOVEMBER 8, 2022

From the Virtual Credit Manager. There will inevitably be a day when you realize your collection efforts are not getting a delinquent customer to pay their bill. Despite all the correspondence, calls, excuses and possibly promises made, there still has been no progress. What can you do? The easy answer — refer the customer account to a Collection Agency when all else has failed to get you paid.

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Collection Agencies Collections Agency Collections Commercial Collection 40

Roths Child Law

NOVEMBER 9, 2022

Many people think that bankruptcy is always the filer’s fault, but this isn’t the case. There are many reasons for bankruptcy that the person who’s filing couldn’t help. . Understanding some of the reasons why people need to turn to bankruptcy may help them to decide if they need to file. It could also help them to feel better about needing to file. .

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Bankruptcy 52

UK debt collections

NOVEMBER 8, 2022

Debt charity, StepChange has reported that September saw the cost of living being cited as the most cause of debt amongst its service users. Apparently more than one in five (22%) saying the ‘cost of living’ was a cause of difficulty for their finances. The proportion of clients with energy bill debt also continued to creep up. Among clients with a responsibility for paying dual fuel bills, the proportion of clients in arrears with these bills has increased by two percentage points f

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Credit Card Debt Personal loans Loans 52

Account Recovery

NOVEMBER 11, 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 Class-Action Accuses Collector of Violating FDCPA, Regulation F for Not Using MVN appeared first on AccountsRecovery.net.

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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

Enterprise Recovery

NOVEMBER 11, 2022

When it's your job to collect past-due invoices, what you say matters. And what you say will depend on your state of mind when you type the email or get on the phone. How you come across to your clients, especially when they're long-term business-to-business relationships, will determine how they react to you, your demands, or any negotiation tactics.

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Collections 196

True Accord

NOVEMBER 8, 2022

LENEXA, Kan., Nov. 8, 2022 — TrueAccord Corp , a debt collection company using machine learning-powered digital recovery solutions to improve consumer experience, today announced it joined the Visa Fintech Partner Connect program. Through Visa Fintech Partner Connect, TrueAccord is Visa Ready certified. This certification helps technology companies build and launch payment solutions that meet Visa’s global standards around security and functionality.

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Acquisition Financial services Collection Companies Collections 109

Account Recovery

NOVEMBER 11, 2022

CLASS-ACTION ACCUSES COLLECTOR OF VIOLATING FDCPA, REGULATION F FOR NOT USING MVN A class-action complaint has been filed against a collection agency, accusing it of violating the Fair Debt Collection Practices Act and the provisions of Regulation F because it did not use a Model Validation Notice and allegedly used false and deceptive means to … The post Daily Digest – November 11.

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Student loans Student Loans Loans Fair Debt Collection 246

Sawin & Shea

NOVEMBER 8, 2022

Voluntary repossession is sometimes the best option for borrowers who can no longer afford their car payments. Rather than have your car seized involuntarily, you can give up your vehicle willingly to your lender. So how much does voluntary repossession affect your credit? Should I Allow a Voluntary Repossession with No Late Payments? Although voluntary repossession is a better option than having your vehicle repossessed against your will, it will negatively impact your credit score and history.

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Repossession Chapter 13 bankruptcy Bankruptcy Lender 98

Nerd Wallet

NOVEMBER 7, 2022

Though cryptocurrency can be an attractive investment, it’s more susceptible to scams than any other payment method. Over $1 billion has been reported stolen through crypto scams between January 2021 and June 2022, according to a report by the Federal Trade Commission. Crypto scams are a type of investment fraud that can take many forms, Brean Horne writes for NerdWallet.

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Trade 111

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.

Consumer Finance

NOVEMBER 9, 2022

When consumer reporting companies and furnishers fail to investigate disputed information, consumers are left paying higher interest rates and face greater difficulty finding housing, employment.

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Account Recovery

NOVEMBER 11, 2022

The Consumer Financial Protection Bureau yesterday issued guidance that warns furnishers of information to credit reporting agencies — and the agencies themselves — about the perils of not conducting reasonable investigations when consumers submit disputes about items on their credit reports. Credit reporting agencies must promptly notify furnishers and provide all relevant information when a … The post CFPB Publishes Guidance Addressing ‘Shoddy’ FCRA Dispute Invest

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Fraser

NOVEMBER 7, 2022

With year-end quickly approaching, reducing taxes is on many people’s minds. It’s been a tumultuous few years, with many changes to people’s individual circumstances and tax laws at state and federal levels. Now is the time to focus on your year-end taxes and engage in estate and income tax planning opportunities. At Fraser Trebilcock, our tax attorneys have made sure you don’t have to start your preparations from scratch, with a two-part checklist of year-end tax considerations you should make

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Government 78

Nerd Wallet

NOVEMBER 9, 2022

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. The Roth IRA can be an attractive retirement account to all types of investors. One reason is that Roth.

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Education 105

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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.

Collections

Consumer Finance

NOVEMBER 9, 2022

“Pig butchering” and other scams lead list of crypto-asset complaints.

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Account Recovery

NOVEMBER 9, 2022

A District Court judge in Texas has granted a defendant’s motion for summary judgment in a Telephone Consumer Protection Act case ruling that a single wrong number placed by a collector to the plaintiff did not violate the statute, while also warning the plaintiff — who has “repeatedly” filed similar cases, without success — that … The post Judge Grants MSJ For Defendant in TCPA Case Over One Wrong Number Call appeared first on AccountsRecovery.net.

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Judgment 246

UK debt collections

NOVEMBER 10, 2022

Last years Brighton Marathon winner employs debt collectors in an extraordinary step to collect his winnings. Alix Ramsier won the Brighton marathon last year and has employed Debt Collectors to recover his winnings. The company that acts as organisers of the Brighton Marathon is called Grounded events. Mr Ramiser from South Croydon is owed £2,000 for winning the Brighton 2022 marathon.

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Debt collector Collections Collection Agencies Collections Agency 72

Nerd Wallet

NOVEMBER 10, 2022

GameFi is a blend of the words “gaming” and “finance,” referring to video games that are developed using blockchain technology. Aside from being a catch-all term for blockchain gaming, GameFi is a movement that is rapidly growing in popularity. The crypto research firm DappRadar reported over 800,000 daily unique active wallets across the GameFi market.

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For finance teams using Salesforce’s powerful CRM technology, automation can transform accounts receivable processes, driving efficiency and delivering measurable results like cost savings, reduced customer churn, and lower DSO.

Collections

Fraser

NOVEMBER 11, 2022

Sixth Circuit Rules that Notice is Required to Terminate Contract for Successive Performances. Under Section 440.2309(2) of Michigan’s Uniform Commercial Code, a contract that “provides for successive performances but is indefinite in duration” may be terminated at any time (without cause). However, as a U.S. Court of Appeals for the Sixth Circuit decision points out, reasonable notice of such termination must be provided, unless the requirement of notice is waived via the contract.

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Manufacturing Education 71

Account Recovery

NOVEMBER 10, 2022

The New York Department of Financial Services yesterday announced proposed amendments to its cybersecurity regulation, including increasing the size threshold for companies that are exempt from following much of the regulation, while also requiring more risk and vulnerability assessments and investing in training and cybersecurity awareness programs, among other changes.

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Financial services 246

PDC Flow

NOVEMBER 8, 2022

Even in a software company like PDCflow, people will never stop being essential. Customers will always have questions and need help based on their unique business needs. That’s why we maintain a live, in-house Customer Success team to provide the best support possible. Customer Success Specialist Ruth-Ann Bailey has only been with PDCflow for a short time but she is already a valuable member of the team.

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Nerd Wallet

NOVEMBER 10, 2022

FTX, a major cryptocurrency exchange, is on the brink of collapse this week amid liquidity concerns and allegations of misused funds, followed by a large volume of withdrawals from rattled investors. The value of FTX’s native token, FTT, plummeted, taking other coins with it, including Ethereum and Bitcoin, which reached a two-year low as of. Dalia Ramirez writes for NerdWallet.

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Speaker: Lynnette Khalfani-Cox, The Money Coach®

Niche markets represent a huge opportunity for the financial services industry in America. From college students and women to communities of color and low-to-moderate-income households, niche populations have specialized financial needs – but they often underutilize many valuable financial products and services. How can you better connect with these consumers?

Financial services

Consumer Finance

NOVEMBER 8, 2022

CFPB Director Chopra’s remarks at a meeting of the FDIC Systemic Resolution Advisory Committee to discuss resolution strategies for large and complex financial institutions.

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Financial Institution Banks 62

Account Recovery

NOVEMBER 9, 2022

State law in Tennessee allows for the revocation of driver’s licenses of those who owe debts to the court system, but suspending licenses actually does not improve collection rates, according to a report released by a nonpartisan think tank in the state. Income, not having their driver’s license suspended or revoked, is a bigger driver … The post Suspending Licenses Doesn’t Improve Collection Rates: Report appeared first on AccountsRecovery.net.

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Collections 246

Troutman Sanders

NOVEMBER 11, 2022

In Hanrahan v. Statewide Collection, Inc., No. 21-16187 (9th Cir. Sep. 1, 2022) , the Ninth Circuit affirmed an award of attorneys’ fees in favor of the plaintiff in an action brought under the Fair Debt Collections Practices Act (FDCPA). The case makes clear that, although the amount is discretionary, attorney fee awards to prevailing plaintiffs are mandatory under the FDCPA.

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Fair Debt Collection Judgment Collections Banks 52

Nerd Wallet

NOVEMBER 10, 2022

Getting new customers is a top concern for most small-business owners — and the solution may be in the palm of their hands. Social media is one of the main ways customers find small businesses, but only a fraction of business owners are actively invested in growing their social media presence. A new NerdWallet study. Kelsey Sheehy writes for NerdWallet.

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Speaker: William Hord, Senior VP of Risk & Professional Services

Enterprise Risk Management (ERM) is critical for industry growth in today’s fast-paced and ever-changing risk landscape. When building your ERM program foundation, you need to answer questions like: Do we have robust board and management support? Do we understand and articulate our bank’s risk appetite and how that impacts our business units? How are we measuring and rating our risk impact, likelihood, and controls to mitigate our risk?

Banks