Collections Law
FEBRUARY 14, 2024
Inevitably, a business may find themselves in a situation where a debtor or business owner dies with an outstanding bill. This is obviously a sensitive topic and can be a complex issue for a creditor. Understanding the legal and ethical implications of collecting a debt from an individual’s estate is crucial for businesses to handle the situation appropriately and respectfully.
UK debt collections
FEBRUARY 16, 2024
Some people believe a recession is lucrative for the debt collection industry. With a recession comes more late payment of invoices and overdue accounts. On the face of it, people make the assumption that it is boom time for the debt collection sector. Contrary to popular belief, a recession does not bring any benefits to the debt collection sector at all usually.
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Jimerson Firm
FEBRUARY 13, 2024
Business Interruption Insurance Owning a business has many perks but can also be very unpredictable. A common trait many successful business owners share is the ability to plan for the future. Business interruption insurance is one tool in the tool chest that can help business owners protect themselves from unforeseen circumstances that they could not have predicted and provide financial stability in the midst of uncertainty.
Troutman Sanders
FEBRUARY 13, 2024
Join us for an enlightening episode of The Consumer Finance Podcast, where we dissect the intricate world of debt collection, reflecting on the past year and forecasting future trends. This episode, hosted by Chris Willis, features insightful discussions with Stefanie Jackman and Jonathan Floyd, both well-versed in the field of debt collection. We explore significant Supreme Court cases that could reshape the collections landscape, the impact of Regulation F on validation notices, and the comple
Speaker: Anna Tiomina, MBA
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?
UK debt collections
FEBRUARY 12, 2024
Figures released in the past week by the Ministry of Justice showed that 9,457 households in England were evicted by bailiffs in 2023, compared to 6,399 in 2022. A total of 26,311 households have been removed from their homes since the government first promised to scrap no-fault evictions in 2019. The latest data also showed that a further 30,230 landlords in England started Section 21 eviction court proceedings in 2023, a rise of 28% in one year.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Consumer Finance
FEBRUARY 15, 2024
The Consumer Financial Protection Bureau (CFPB) today reported on the first set of results from the newly updated Terms of Credit Card Plans survey.
Qualco
FEBRUARY 13, 2024
NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. You can view it here. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. However, in a small number of credit businesses, the right strategies for systems and people have not been set.
Troutman Sanders
FEBRUARY 16, 2024
Yesterday, the Federal Trade Commission (FTC) issued a Supplemental Notice of Proposed Rulemaking , seeking public comment on its proposal to amend the Rule on Impersonation of Government and Businesses (Impersonation Rule or Rule), that is being finalized by the FTC today, to add a prohibition on the impersonation of individuals. The amendment would also extend liability for violations of the Impersonation Rule to parties who provide goods and services with knowledge or reason to know that thos
Account Recovery
FEBRUARY 16, 2024
Collector Facing FDCPA Suit For Sending Emails to Collect on Paid-Off Debt Judge Grants MTD in FDCPA Case Over Potentially Incorrect Balance in Underlying Collection Suit PRA Group Posts Loss for 4Q, 2023, But CEO Highlights Changes That Are Turning Company Around FCC Adopts New Rules for Revoking Consent Under TCPA WORTH NOTING: A tattoo […]
Speaker: Melissa Hurrington
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.
UK debt collections
FEBRUARY 14, 2024
Retail Insolvencies are expected to continue to rise according to latest industry expert findings. Less than two months into 2024 and six UK retailers have already gone bust, with a further two warning they may fall into trouble, as experts warn the market will “continue to see an uptick in retail insolvencies”. According to figures from Centre of Retail Research , over 400 job roles have been impacted by retailers shutting up shop in light of the cost of living crisis and financial strain place
PDC Flow
FEBRUARY 16, 2024
Your staff works hard during the busy tax season and throughout the year to settle past-due accounts and collect payments for your debt collection agency. Without measures in place to prevent chargebacks, though, many of your payments could end up being disputed by consumers. Agencies and other high-risk businesses can go months or years without experiencing the stress caused by credit card chargebacks.
Troutman Sanders
FEBRUARY 14, 2024
Virginia is currently one of only two states that does not allow class-action lawsuits in its courts. However, that could change soon as House Bill (HB) 418 , originally introduced on January 10, 2024, seeks to create a class-action framework loosely modeled on the Federal Rules of Civil Procedure. On February 9, HB 418 passed the House of Delegates and will be sent to the Senate for consideration.
Account Recovery
FEBRUARY 15, 2024
Getting to Know Chris Peppler of Oliphant USA Judge Grants MTD in FDCPA Case Over Allegations of Collecting, Furnishing Without Consent Elective Medical Finance Company Raises More Money to Help Aid Expansion Pay-by-Bank Volume Set to Explode: Plaid WORTH NOTING: The health benefits of tai chi just keep expanding when compared to other forms of […]
Speaker: Susan Richards
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.
UK debt collections
FEBRUARY 11, 2024
Latest UK Finance data has indicated that homeowner mortgages in arrears rose by 7 per cent (93,680) in the final quarter of 2023 compared to the previous quarter. Buy-to-let mortgages in arrears also increased 18 per cent to 13,570 compared to the previous quarter. 540 homeowner mortgaged properties were taken into possession in Q4, down 14 per cent on the previous quarter. 500 buy-to-let mortgaged properties were taken into possession in Q4, 11 per cent greater than the previous quarter. 44 pe
Credit Corp
FEBRUARY 16, 2024
Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers. Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Snapshot: The Chase Sapphire Reserve® is best for consumers who travel frequently and want to earn bonus points on flights, hotels and car rentals.
Jimerson Firm
FEBRUARY 15, 2024
In the complex realm of residential and commercial real estate transactions, the importance of a well-crafted customized contract cannot be overstated. However, the convenience and seemingly time-saving allure of boilerplate real estate contracts have led many real estate agents and buyers and sellers to neglect the inherent pitfalls associated with their use.
Account Recovery
FEBRUARY 15, 2024
A District Court judge in Mississippi has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case after it was sued by a plaintiff representing himself, claiming the defendant violated the statute because it was attempting to collect a debt that was not owed to that company and because it was allegedly […]
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.
UK debt collections
FEBRUARY 15, 2024
London mansions are being seized as part of measures to recover debts in London from bankrupt businessmen. A Kensington mansion has become the capital’s latest luxury property to go up for sale in insolvency proceedings as wealthy London homeowners face their assets being liquidated to pay down debts. The property on Queen’s Gate, near Hyde Park, is being sold by receivers for around $34m (£27m) alongside another house worth some $520,000 (£412,000) as part of bankruptcy proceedings, according t
Consumer Finance
FEBRUARY 15, 2024
The Consumer Financial Protection Bureau (CFPB) issued a procedural rule updating the process by which financial institutions can appeal supervisory findings.
Troutman Sanders
FEBRUARY 16, 2024
What happens to funds recovered by the trustee after the final plan payment is made in a chapter 13 case? According to the U.S. Bankruptcy Court for the District of Iowa, absent a plan provision providing otherwise, those funds revert to the debtors. In In re McCrorey , the debtors confirmed a chapter 13 plan, which required them to make payments for 60 months and provided no payments to unsecured creditors.
Account Recovery
FEBRUARY 14, 2024
Judge Denies Plaintiff’s MSJ in FDCPA Case Over Communications with Mom Startup Puts Bots on Phones to Help Consumers Negotiate Debts Medical Debt Causes Other Financial Problems for Consumers: Survey 23 Companies Seeking Collection Talent WORTH NOTING: The best gifts to get when someone experiences a loss … Major League Baseball has its first female […]
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FFGN COLLECT NY
FEBRUARY 15, 2024
A merchant cash advance or MCA agreement is the provision of a lump sum of cash by a merchant cash provider in exchange for future receivables. While technically not a loan, there is the expectation that the receiver will pay back the provider a larger amount of future receivables—essentially a guarantee of future revenue. It is typically easy for companies to qualify for these types of advances.
Sawin & Shea
FEBRUARY 14, 2024
If you or a loved one has recently filed for bankruptcy or are considering bankruptcy, you may wonder who may find out about your financial situation. While there’s a negative stigma surrounding bankruptcy, the reality is that filing is the best solution for many struggling with overwhelming debt, and there’s no reason to feel ashamed over it. That said, we’re here to answer common questions regarding the accessibility of bankruptcy information and whether these documents are part of public reco
Troutman Sanders
FEBRUARY 16, 2024
On February 13, the Federal Trade Commission (FTC) released a blog post warning companies that it could be deemed an unfair or deceptive practice for a company to adopt more permissive data practices and to only inform consumers of such changes through retroactive amendments to its terms of service or privacy policy. In the blog post, entitled “AI (and other) Companies: Quietly Changing Your Terms of Service Could Be Unfair or Deceptive,” the FTC described the increasing need companies have for
Account Recovery
FEBRUARY 14, 2024
During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers.
Speaker: Debra L. Robinson
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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