Collections Law
APRIL 19, 2022
As a business owner or manager, collecting unpaid debt is likely not your favorite part of your job. At times it may seem frustrating and fruitless. The process becomes even more problematic when your debtor is located in another state. Even if you do achieve a judgment in your own state, you have the added step of needing to domesticate the judgment in the debtor’s state.
Nerd Wallet
APRIL 19, 2022
Over the past few years, credit card balances were paid down and delinquent accounts became less common. But two years after the COVID-19 pandemic began, those trends — spurred by increased savings and relief programs — could evaporate, especially as inflation soars. The pandemic economy unexpectedly changed many households’ finances for the better — personal.
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True Accord
APRIL 21, 2022
Historically, debt collectors have been depicted as hostile, intimidating or downright rude – and over the years they’ve confirmed those stereotypes through aggressive phone calling and deceptive tactics. But to what success and at what cost? We know there’s a better way. The idea of compassionate, considerate consumer communication is behind TrueAccord’s approach to debt recovery and drives our innovation, and based on what we’ve seen, we believe there’s a lesson to be learned for others
Account Recovery
APRIL 22, 2022
JUDGE GRANTS MTD IN HUNSTEIN CLASS-ACTION FOR LACK OF STANDING A District Court judge in New York has granted a defendant’s motion to dismiss a Hunstein class-action lawsuit, albeit for lack of standing, because the plaintiff failed to plead that using a letter vendor violated his privacy and that anyone at the vendor reviewed or … The post Daily Digest – April 22.
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.
American Profit Recovery
APRIL 20, 2022
April is Financial Literacy Month and if you are a consumer that is struggling to meet your financial obligations, this is a chance for you to educate yourself on ways you can improve your financial health. There are so many ways available to consumers to get back on track and not be in debt anymore. It just takes a little commitment on your part and a willingness to free yourself from the burden of debt.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Consumer Finance
APRIL 18, 2022
Today the Consumer Financial Protection Bureau (CFPB) issued a report on the challenges faced by Americans in rural communities. The report highlights that many of these communities lack access to physical bank branches, are more likely to seek credit from nonbanks, and are heavily affected by medical bills.
Account Recovery
APRIL 22, 2022
We talked about this yesterday on The Talk-Off and it’s especially timely as companies across the country, including those in the accounts receivable management industry, seek to figure out whether employees need to be in the office 100% of the time, if there isn’t a need for an office at all, or if the answer … The post Survey Reveals Employees Want Hybrid Work Schedules appeared first on AccountsRecovery.net.
American Profit Recovery
APRIL 22, 2022
There is one simple fact that we know from handling debt collections for health care professionals across the country for many years. Professionals that go to school to be able to serve others want to focus on just that. Doctors and other medical professionals need to focus their time on serving patients and providing the necessary care they require.
Nerd Wallet
APRIL 22, 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. One of the first times I started to panic about money was when I found out I was pregnant. Elizabeth Ayoola writes for NerdWallet.
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.
Consumer Finance
APRIL 19, 2022
A report issued today by the Consumer Financial Protection Bureau (CFPB) examines the financial consequences of medical billing and collections endured by individuals and families across the country. The report draws from the rising volume of medical billing and collection complaints submitted to the CFPB.
Account Recovery
APRIL 22, 2022
A District Court judge in New York has granted a defendant’s motion to dismiss a Hunstein lawsuit, albeit for lack of standing, because the plaintiff failed to plead that using a letter vendor violated his privacy and that anyone at the vendor reviewed or otherwise saw the plaintiff’s information. A copy of the ruling in … The post Judge Grants MTD in Hunstein Class-Action for Lack of Standing appeared first on AccountsRecovery.net.
Prosperity Now
APRIL 20, 2022
Each of us, whatever our race and economic background, should be able to control our financial lives.
Nerd Wallet
APRIL 19, 2022
A real estate agent is a professional who helps people buy and sell properties. But there’s more to it than that. Here’s a primer on what real estate agents are (and aren’t) and the different roles agents can take on in a real estate transaction. What is a real estate agent? Real estate agents are. Kate Wood writes for NerdWallet. Email: kwood@nerdwallet.com.
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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.
Consumer Finance
APRIL 20, 2022
The Consumer Financial Protection Bureau (CFPB) and New York Attorney General Letitia James today announced they are filing a lawsuit against MoneyGram International, Inc. and MoneyGram Payment Systems, Inc. (MoneyGram)—one of the largest remittance providers in the U.S.—for systemically and repeatedly violating various consumer financial protection laws and leaving families high and dry.
Account Recovery
APRIL 22, 2022
Continuing to fulfill its commitment to going after repeat offenders, the Consumer Financial Protection Bureau — in partnership with the Attorney General of New York — yesterday announced a lawsuit against MoneyGram Payment Systems for “systematically and repeatedly violating” consumer protection laws by failing to deliver funds promptly and failing to train employees about how … The post CFPB, NY AG Sue ‘Repeat Offender’ MoneyGram as Company Vows Not to
UK debt collections
APRIL 21, 2022
The Insolvency Service has continued to target bounce back loan abusers in the UK. They have successfully secured restrictions against a gym operator and roofer after they falsely claimed bounce back loans for their respective businesses. In separate bounce back loan applications, Junaid Dar, aged 31 and from Birmingham, in addition to David Michael Godderidge aged 40, from Tamworth, falsely applied for bounce back loans.
Nerd Wallet
APRIL 21, 2022
I thought I knew all about the information that consumer reporting agencies were collecting on me. Then I discovered The Work Number — a database that reports every paycheck I’ve received from my company, with net and gross amounts, going back to my hire date six years ago. Another consumer reporting agency shows the results. Liz Weston, CFP® writes for NerdWallet.
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.
Public Citizen
APRIL 21, 2022
A cautionary tale on forced arbitration: Uber’s platform Uber Eats allows customers to order takeout from various restaurants and have it delivered by a driver for a restaurant-specific delivery fee. Customers are required to agree to Uber's Terms of Use, which contains a provision stating that any dispute between the customer and Uber will be settled by binding arbitration administered by the American Arbitration Association in accordance with AAA's rules.
Account Recovery
APRIL 19, 2022
The Federal Trade Commission provided $4.86 million in refunds to individuals who were victimized in debt collection scams last year, the regulator noted in a summary it sent to the Consumer Financial Protection Bureau regarding its enforcement of the Fair Debt Collection Practices Act. The FTC took action against 17 defendants last year for allegedly … The post FTC Provides $5M in Refunds to Consumers Scammed by Collectors appeared first on AccountsRecovery.net.
Better Credit Blog
APRIL 20, 2022
For most of us, working hard to achieve and maintain a good credit score is an inescapable part of modern life. Checking the credit reports of potential employees (with their permission) is an established practice for businesses. In a survey conducted in 2012, 1 in 7 respondents said they’d been denied a job because of a blemished credit history. Additionally, 1 in 8 respondents said that their poor credit score was due to “errors” in their report.
Nerd Wallet
APRIL 21, 2022
What are commodities? Commodities are raw materials or agricultural products that are often used to produce finished goods. Many different types of commodities exist today, but broadly they can be broken down into three distinct categories: Energy. Commodities in the energy sector include crude oil, natural gas, coal and other fossil fuels. Metals. Some of.
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?
PBWT
APRIL 17, 2022
The Fifth Circuit recently dismissed an appeal of a confirmation order as equitably moot. The decision was based on three key factors: the appellant hadn’t obtained a stay pending appeal, the plan had been substantially consummated, and practical relief couldn’t be fashioned if the plan was unwound. Talarico v. Ultra Petro. Corp. (In re Ultra Petro.
Account Recovery
APRIL 18, 2022
JUDGE REMANDS FDCPA BASE BACK TO STATE COURT Standing, with respect to Fair Debt Collection Practices Act lawsuits these days, is not necessarily always a black-and-white situation. Whether a plaintiff suffered a concrete injury sufficient enough to have standing to sue in federal court is a moving target, but judges have generally indicated that in … The post Daily Digest – April 18.
UK debt collections
APRIL 20, 2022
Getting Debt Collection quotes is on the rise in the UK as is the use of debt collection agencies. The first Debt Collection quotes site in the UK was launched in 2013. Best4debtcollection.co.uk (Best4) was launched to marry creditors with suitable debt collection agencies. Since its launch nearly 10 years ago, Best4 has helped thousands of Businesses and personal individuals recover what they are owed.
Nerd Wallet
APRIL 20, 2022
Lavu is a point-of-sale, or POS, system for restaurants. Its software includes features that cater to food businesses — such as letting you manage meal orders in person and online and tracking menu performance. Lavu also sells hardware and offers payment processing services. Consider Lavu if you want an all-in-one or customizable restaurant POS system.
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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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