Account Recovery
DECEMBER 3, 2024
There has been plenty of complaints about social media platforms like TikTok dispelling some crazy myths and strategies for consumers to try and get out of paying a debt, but maybe it can help consumers get out of debt, too. Could you see instructing your collectors to suggest opening up a TikTok account as a means of getting a consumer to raise money to repay a debt?
Enterprise Recovery
DECEMBER 6, 2024
B2B debt collection requires an understanding of effective strategies to mitigate delinquent accounts. This process involves implementing proactive measures so businesses can avoid issues such as unclear credit policies, inadequate communication, and poor documentation practices. Also, technology and professional debt collection services can enhance the ability to recover outstanding debts and maintain healthy financial operations.
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American Profit Recovery
NOVEMBER 25, 2024
Utilizing a reputable collection agency for your all business or larger organization is one of the best ways to dramatically improve cash flow. And, it’s also a strategic tool in retaining your customers even if they do owe you money. Professionally trained debt collectors understand how to listen, show empathy, understand individual situations and take the time to solve problems with consumers.
Burt and Associates
OCTOBER 10, 2024
Case Study: Alpha Plumbing Solutions vs. Beta Plumbing Contractors* Your browser does not support the audio tag. About Transcript About Commercial Debt Collection The segment introduces the topic of commercial debt collection, emphasizing that it is more than just numbers on a spreadsheet. It focuses on the strategies and psychology needed to bridge the gap between having a signed contract and receiving actual payment.
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?
Account Recovery
DECEMBER 26, 2024
New York Gov. Kathy Hochul this week signed a sweeping package of bills to enhance consumer data protection in New York into law. While the package tackles various digital safety issues, one law stands out for debt collection professionals: S5703B/A1035B, which bans the use of social media platforms for debt collection. The details: The newly enacted law prohibits debt collectors from using social media platforms to communicate with consumers about unpaid debts.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
PDC Flow
NOVEMBER 20, 2024
According to Forbes , there were 2,365 cyberattacks in 2023, with 343,338,964 victims. These data security breaches are a big problem for companies and consumers alike. That’s why there are rules, regulations, and best practices centered around protecting customers through credit card tokenization and data encryption. Credit card tokenization and encryption shield essential customer payment information from being exposed.
UK debt collections
OCTOBER 23, 2024
The value of bad debt suffered by small businesses has surged by a staggering 127 per cent in the last six months, according to a report by SME funder, Bibby Financial Services (BFS). According to the latest SME Confidence Tracker from Bibby, businesses have written-off an average of nearly £40,000 in unpaid invoices in the last 12 months, up from an average of £17,500 in the spring.
Qualco
NOVEMBER 5, 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.
Consumer Finance
DECEMBER 22, 2024
Today, the CFPB sued Walmart and Branch Messenger for forcing delivery drivers to use costly deposit accounts to get paid and for deceiving workers last mile drivers in Walmarts Spark Driver programabout how they could access their earnings.
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.
Account Recovery
OCTOBER 11, 2024
A District Court judge in Oklahoma has dismissed the class-action component of a Fair Debt Collection Practices Act lawsuit, while also dismissing some of the claims, after the defendant was accused of not sending a collection lawsuit summons to the plaintiff’s correct address, which it allegedly had. The background: The case started when the defendant, a collection law firm, filed a lawsuit against the plaintiff to collect an alleged debt.
Account Recovery
OCTOBER 10, 2024
A District Court judge in Virginia has dismissed the majority of claims against several defendants in a Fair Debt Collection Practices Act class-action lawsuit, but allowed one key claim against a collection agency to proceed. The background: The lawsuit accused several companies, including three different collection operations of violating the FDCPA and the Virginia Consumer Protection Act in their attempts to collect on the plaintiff’s unpaid student loans.
Account Recovery
NOVEMBER 18, 2024
Granted, this appears to be available in England only for now, and it’s intended to fight fraud and scams, but it’s likely only a matter of time before it makes its way westward to the United States and could possibly be deployed against collection calls. England’s largest cellphone carrier has unveiled a new technology that could pose a new challenge for debt collectors.
Account Recovery
OCTOBER 14, 2024
A District Court judge in Oklahoma has dismissed yet another “inconvenient” time or place case under the Fair Debt Collection Practices Act in which a plaintiff mails a letter to the defendant requesting or demanding that all future contact between the parties be conducted via email, ruling that both the FDCPA and Regulation F gave the defendant the authority to respond via traditional mail and not via email.
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.
Account Recovery
DECEMBER 18, 2024
A Washington man was sentenced yesterday to nearly two years in federal prison for his role in a multi-year debt consolidation scheme that defrauded consumers across Oregon and Washington. His business partner remains at large as legal proceedings continue. Driving the news: Javier Antonio Banuelas Urueta, 55, of Vancouver, Wash., received a 21-month prison sentence and was ordered to pay $115,750 in restitution for conspiring to commit and committing mail and wire fraud.
Account Recovery
OCTOBER 10, 2024
I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support. TEC is now extending its services by offering proven, industry-leading technology solutions alongside of our Professional Services to help Clients feel confident in their technology de
Account Recovery
NOVEMBER 25, 2024
The latest Outlook on American Life report from H&R Block offers a mixed view of Americans’ financial health. While income gains outpaced inflation for many, especially younger generations, rising debt — particularly credit card and student loans — continues to weigh heavily on households across the country. Understanding these consumer behaviors and trends is crucial for collections professionals looking to assess repayment potential.
Enterprise Recovery
OCTOBER 21, 2024
Do you tense up every time you run your business's aging report ? Instead of feeling helpless about delinquent accounts, you can stay calm and take proactive steps to manage the situation. By adopting a strategic approach, you can implement practical solutions to increase your success at recovering outstanding payments. Tired of chasing overdue invoices?
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.
Account Recovery
NOVEMBER 15, 2024
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 (855) WEB-RECON or email admin@webrecon.net today!
American Profit Recovery
NOVEMBER 20, 2024
If you’re running any type of business, negative cash flow does not just happen. There are always red flags of negative cash flow that give you an indication of a problem within your organization. Negative cash flow can rapidly disrupt a small business’s operations. Many businesses struggle to keep a consistent client base and have slim margins, which means it’s important to keep a close eye on cash flow.
Account Recovery
OCTOBER 25, 2024
The New York State Department of Health has issued guidance summarizing changes to state laws and regulations that impact how hospitals in The Empire State will handle patient eligibility, collect on unpaid debts, and manage financial assistance applications, among other changes. Expanded Eligibility for Financial Assistance A new law in New York has increased the income threshold for financial assistance eligibility.
Account Recovery
DECEMBER 10, 2024
The Consumer Financial Protection Bureau yesterday announced an enforcement action against Performant Recovery, Inc., a debt collection agency accused of delaying student loan rehabilitations to increase fees. Performants practices, which cost individual borrowers thousands of dollars, have resulted in a $700,000 penalty and a ban on the company from servicing or collecting any student loan debt.
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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.
Account Recovery
NOVEMBER 11, 2024
It’s not often that both sides in a Fair Debt Collection Practices Act lawsuit get their motions granted at the same time, but a District Court judge in New Jersey pulled off the feat, ultimately remanding the case back to state court after the defendant was accused of attempting to collect on a debt without being properly licensed to collect in the state.
Account Recovery
NOVEMBER 5, 2024
The Federal Trade Commission has filed a lawsuit and received a temporary restraining order freezing the assets and taking control over a Georgia-based debt collection agency, Global Circulation, Inc., after it was accused of using deceptive and abusive tactics to collect debts from consumers. The complaint, filed in the District Court for the Northern District of Georgia, alleges that the agency tricked consumers into paying more than $7.6 million by falsely representing debts and threatening e
Account Recovery
OCTOBER 16, 2024
A District Court judge in Washington has denied a defendant’s motion for judgment on the pleadings in a Fair Debt Collection Practices Act class-action case over alleged “junk” fees, ruling that the plaintiffs adequately pleaded plausible claims under the FDCPA and related state consumer protection laws. What makes this case even more interesting is that the Consumer Financial Protection Bureau has filed its own amicus brief in favor of the plaintiffs.
Account Recovery
DECEMBER 2, 2024
Sometimes it’s better to be lucky than good. Today’s webinar just happens to be on the topic of legal collections (register here) so it’s entirely timely to write about a court ruling involving a judgment. A District Court judge in Kentucky has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case after it was sued for not informing the plaintiff that a debt was allegedly time-barred when it sent a letter informing the plaintiff of payment opti
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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