Nerd Wallet
AUGUST 29, 2022
Your bank plays a role in climate change through its lending and other actions. But is your bank making a positive environmental impact? It can be hard to know. Through their messaging, banks sometimes paint a greener picture of their impact on the climate than what their holdings or other factors indicate, a process known. Spencer Tierney writes for NerdWallet.
Account Recovery
AUGUST 30, 2022
Companies in the accounts receivable management industry that collect on unpaid utility debts should be preparing for a “tsunami of shutoffs” and those that do not collect this type of debt may want to consider doing so, following a series of published reports that spotlight just how many people are behind on their payments and … The post Rising Utility Debts Causing More Problems for Consumers appeared first on AccountsRecovery.net.
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Enterprise Recovery
SEPTEMBER 2, 2022
Businesses have had to run leaner in recent years - something that startups know all about. A lean business is one that maximizes value with its resources and minimizes waste. People, money, and time are the most valuable resources in organizations. Maximizing time saves money and encourages your workforce to feel as if they're giving their best to their jobs.
Consumer Finance
SEPTEMBER 1, 2022
The Consumer Financial Protection Bureau (CFPB) has issued the first in a series of reports focusing on the finances of consumers living in rural areas. Today’s report focuses on rural Appalachians, who tend to earn less than consumers in other rural areas and have higher rates of subprime credit. In particular, medical debt collections are a much more prevalent issue among rural Appalachians, and consumers with medical debt collections often experience difficulties making ends meet on other fin
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.
Nerd Wallet
AUGUST 29, 2022
Hundreds of thousands of borrowers made payments on their federal student loans since forbearance began in March 2020, taking advantage of the opportunity to pay down their balances. Now that the White House has announced plans to cancel up to $20,000 in student loan debt, some of those borrowers may be wondering how to get. Cecilia Clark writes for NerdWallet.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Sawin & Shea
AUGUST 31, 2022
Most people have noticed that when one thing goes wrong, several other things invariably follow. There’s even a common expression describing the experience: “When it rains, it pours.” Unfortunately, medical debt is no exception. It can easily precipitate a resulting series of unfortunate events, one of them (ironically) being poor health. This is more than perception; it is a documented phenomenon, explored most recently in a 2021 research study from The Sycamore Institute.
Fico Collections
AUGUST 29, 2022
Home. Blog. FICO. Average U.S. FICO® Score Stays Steady at 716, as Missed Payments and Consumer Debt Rises. Each year, we provide insight into the national average FICO ® Score to help ensure consumers have a baseline measure of credit health standing. by Ethan Dornhelm. expand_less Back To Top. Tue, 08/30/2022 - 12:00. As the independent standard in credit scoring, FICO® Scores are the leading credit scores used extensively across the lending ecosystem ranging from originations, underwriting an
Nerd Wallet
AUGUST 30, 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. Between a continuing global pandemic and the highest annual inflation in four decades, many Americans’ finances have suffered.
Account Recovery
SEPTEMBER 2, 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 Collector Facing FDCPA Class Action Over Contradictory Letters appeared first on AccountsRecovery.net.
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
AUGUST 31, 2022
During the first half of 2022, the value of alleged fraud cases exceeding £100k heard in UK Crown Courts soared by almost 300% compared to the first six months in 2021, rising from £137.4m to a staggering £532.6m. This is above the total value of alleged fraud seen in Crown Courts during the whole of 2021, which reached almost £445m, demonstrating that the eruption of fraud sweeping the UK is showing no sign of slowing according to new research by KPMG.
Fraser
AUGUST 29, 2022
On Wednesday, August 24, President Biden announced that the federal government will extend the current pause on monthly student loan payments, which means that borrowers will not have to resume making payments until at least January. President Biden also stated that the federal government plans to forgive up to $20,000 worth of student loan debt, for those who qualify.
Nerd Wallet
SEPTEMBER 1, 2022
Litecoin, one of the most commonly used alternative cryptocurrencies, is supported by many of the leading crypto wallets on the market. Litecoin can be kept in a “hot” software wallet connected to the internet on your computer or phone or a “cold” hardware wallet that can keep your information fully offline. Users can also turn. Dalia Ramirez writes for NerdWallet.
Account Recovery
AUGUST 30, 2022
MOUNTAIN VIEW, Calif., Aug. 29, 2022 /PRNewswire/ — Prodigal, a pioneer in Consumer Finance Intelligence, and Finvi, a premier provider of workflow and payments solutions that streamline and accelerate revenue recovery in the accounts receivable management (ARM), healthcare, and government markets, today announced their partnership. The newly forged partnership couples Finvi’s workflow and intelligence solutions with the … The post Finvi Partners with Prodigal to Deliver Conver
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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.
True Accord
SEPTEMBER 1, 2022
What is your core business? It probably isn’t chasing down delinquent accounts—and it shouldn’t be. Attention, resources, and bandwidth should be dedicated to what drives revenue and pushes your company’s goals forward. But delinquencies are a reality for any business that handles payments. And when a customer misses a payment on the due date, you shouldn’t let their delinquency slide for too long, otherwise before you know it, that delinquent account will eventually get charged off and consider
PBWT
AUGUST 29, 2022
A bankruptcy court ruled that a creditor didn’t need to seek derivative standing to sue a liquidating trustee. The creditor, himself a trustee of the debtor’s employee stock-option plan, had standing to sue without prior court permission because his suit wasn’t brought on behalf of the bankruptcy estate. In re Foods , Inc. , Case No. 14-02689, Adv.
Nerd Wallet
SEPTEMBER 2, 2022
Put 20% down when buying a home. Don’t spend more than 30% of your income on housing costs. Keep child care expenses below 10% of your annual household income. These money rules of thumb can be useful guardrails, helping you allocate spending and determine what’s affordable. They can also be incredibly defeating when they feel. Kelsey Sheehy writes for NerdWallet.
Account Recovery
SEPTEMBER 1, 2022
SAN DIEGO — Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, announced today that William C. Goings has been appointed to Encore’s Board of Directors effective September 1, 2022. Mr. Goings will serve on Encore’s Compensation Committee and Nominating and Corporate Governance Committee. Goings (64) has years of global executive leadership experience … The post William C.
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.
True Accord
SEPTEMBER 2, 2022
A reply email with notice of attorney representation applies only to the individual account. A new District Court opinion weighs in on digital debt collection efforts, making clear that a notice of attorney representation provided in reply to an email about an account only applies to that specific account. In Tamika Gilbert v. TrueAccord Corp. , Case No.: 1:21-cv-00486, the United States District Court for the Eastern District of Illinois, dismissed the case in favor of TrueAccord.
Direct Recovery
AUGUST 30, 2022
Time-barred debts are one of the most misunderstood aspects of the entire debt collection industry, but the basic information that explains them and how they work is relatively straightforward. The key to understanding any time-barred debt situation is to know and understand the rules at play before making any decisions or payments. What is a Time-Barred Debt?
Nerd Wallet
SEPTEMBER 2, 2022
Liquid net worth is a calculation that helps determine the health of your financial safety net. It measures your ability to handle regular and short-term financial needs — and how well you meet your long-term money goals. Have you heard the saying that someone is house poor? This is because the monthly costs of owning. Hal M. Bundrick, CFP® writes for NerdWallet.
Account Recovery
AUGUST 29, 2022
JUDGE SANCTIONS PLAINTIFF’S ATTORNEY FOR PROLONGING LITIGATION The attorney sought a “windfall” by engaging in conduct he later described as “petty.”The judge granted the defendant’s motion for attorneys’ fees and costs, ruling that the plaintiff’s attorney prolonged the case for “several months.” CONNECTICUT REGULATOR REVOKES LICENSE, FINES AGENCY $100K Not answering your mail is an … The post Daily Digest – August 29.
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?
Troutman Sanders
SEPTEMBER 1, 2022
As we previously posted here , in March, Utah enacted its Commercial Financing Registration and Disclosure Act (CFRDA), requiring commercial financing providers to register with the Utah Department of Financial Institutions (DFI). The process requires registering with the Nationwide Multistate Licensing System and Registry (NMLS), providing certain information about the provider, and disclosing information about certain control persons relating to specified criminal convictions.
FFGN COLLECT NY
SEPTEMBER 1, 2022
Let’s say you are the owner of a 100-unit condominium complex, and you enter into a management agreement with a company to act as operator and property manager for the complex. As part of the complex’s management responsibilities, the property manager is required to establish a bank account for the deposit of all funds received from the operation of the property.
Nerd Wallet
AUGUST 31, 2022
Bankruptcy, often considered a last financial resort, is a legal process that can help alleviate outstanding debts for individuals and businesses. Reasons to file for bankruptcy can include divorce, job loss, exorbitant medical bills or credit card debt. There are several types of bankruptcy — six, as a matter of fact. The two most common. Tiffany Curtis writes for NerdWallet.
Account Recovery
SEPTEMBER 2, 2022
COLLECTOR FACING FDCPA CLASS ACTION OVER CONTRADICTORY LETTERS The plaintiff received two letters that included different statements related to credit reporting. The letters were sent three years after the defendant had indicated it was ceasing collection activity on the accountThis content is sponsored by WebRecon. More details here. APPEALS COURT OVERTURNS LOWER COURT’S DENIAL OF … The post Daily Digest – September 2.
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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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