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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Collections 218

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.

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Debt Consolidation 189

Consumer Finance

DECEMBER 8, 2024

The CFPB launched a rulemaking to address the harmful effects of inaccurate credit reporting affecting survivors of domestic violence, elder abuse, and other forms of financial abuse.

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True Accord

DECEMBER 11, 2024

Its that time of year againthe season of giving, which has landed nearly half (47%) of consumers in debt thanks to holiday spending in the past. And the struggle continues to be real for consumers with 68% reporting that inflation is stretching their holiday budgets thin and 89% of consumers reporting they feel tempted to spend more than they should.

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Collections Credit Card Debt 84

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.

Collections Law

DECEMBER 18, 2024

In the business world, extending credit is often necessary to build relationships and expand your customer base. But without the right protections, it can also lead to unpaid debts and financial headaches. Fortunately, a credit application contract is a powerful tool that sets the stage for successful transactions and protects your business interests.

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Commercial Collection Creditworthiness Credit Management Lawyers 52

Enterprise Recovery

DECEMBER 13, 2024

In B2B sales, a signed contract is of immense sanctity. It serves as the cornerstone for ensuring security and trust between business partners. These contracts provide a clear framework for the business relationship, outlining the rights and obligations of each party involved. This assurance is invaluable in fostering a stable and reliable partnership, as it minimizes the risk of disputes and misunderstandings.

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Account Recovery

DECEMBER 19, 2024

A District Court Judge in Washington has granted a motion to dismiss filed by all the defendants in a Fair Credit Reporting Act and Fair Debt Collection Practices Act case, ruling that the plaintiff failed to adequately allege that the defendants actions were impermissible under the law. The background: The case originated when the plaintiff reviewed her credit report and discovered what she described as unfamiliar entries.

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Consumer Finance

DECEMBER 4, 2024

The CFPB is distributing $1.8 billion to 4.3 million consumers charged illegal junk fees by credit repair companies including Lexington Law and CreditRepair.com.

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Hudson Weir

DECEMBER 10, 2024

Cash flow is key to the running of business operations, so unpaid customer invoices can create significant challenges There are several ways to recover the debt and with that in mind, you may be wondering what is a charging order and can it help? According to a survey from Capital on Tap reported by On The Tools , businesses in the UK are due 7.4bn in overdue invoices.

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Creditors Debtor Debt Recovery Legal Rights 52

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.

Banks

On Guard

DECEMBER 5, 2024

While fewer than 20% of strategic decisions currently leverage AI in the Dutch finance sector, this figure is projected to surge to nearly 50% within the next five years. This is according to the latest Deloitte CFO Survey , based on a sample of over 130 Dutch CFOs from various sectors. The popularity of AI has surged with tools like ChatGPT, highlighting its ability to streamline work processes for some time now.

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Credit Management Healthcare Judgment Financial services 52

PDC Flow

DECEMBER 19, 2024

Does your company offer expensive products or services, bill customers after the fact, or provide services on a monthly, or ongoing basis? Its time to evaluate and take advantage of your recurring billing software and set up better recurring payments for your business. Recurring billing is a common payment model companies used to charge customers at regular intervals instead of in a lump sum payment.

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Manufacturing Healthcare Collection Agencies Collections Agency 52

FFGN COLLECT NY

DECEMBER 2, 2024

What happens if a client who kept insurance funds proceeds later files for bankruptcy? Will a bankruptcy court allow the debtor to keep monies intended for you? According to a recent New York court case, the answer is no. The bankruptcy court refused to grant a discharge to a debtor who failed to turn over insurance checks to the provider. Medical and restoration services are often provided without payment upfront.

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Judgment Bankruptcy Debtor Creditors 52

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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Student loans Student Loans Loans Collections Agency 130

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Collection Agencies

Consumer Finance

DECEMBER 8, 2024

The CFPB took action to address unlawful student loan debt collection practices by Performant Recovery, Inc. against defaulted borrowers.

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JMA

DECEMBER 14, 2024

Running a small business has never been easy, but in todays fast-paced, unpredictable, and struggling economy, the challenges are more pressing than ever. Rising costs, tighter budgets, and increasing competition mean that maintaining a healthy cash flow is critical to survival. Unfortunately, unpaid invoices and overdue debts can quickly disrupt even the best-managed businesses, leading.

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Collections 52

Jimerson Firm

DECEMBER 13, 2024

On December 3, 2024, ruling by the U.S. District Court for the Eastern District of Texas granted a preliminary injunction that applies nationwide for all beneficial ownership interest (BOI) reports. 1 What initially appeared to be a straightforward implementation of the Corporate Transparency Act (CTA) has transformed into a complex legal and regulatory challenge that demands careful navigation by businesses across the United States.

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Government 52

Collections Law

DECEMBER 2, 2024

If you run any sort of business, it is almost inevitable that someday, you will have to attempt to collect on an unpaid debt. Unpaid debts present numerous challenges for creditors. One such challenge is when a debtor claims not to have the funds to pay their unpaid debts. At the Law Offices of Alan M. Cohen & Associates LLC, our commercial collections attorneys have more than 50 years of combined experience helping our commercial clients in Massachusetts collect on their unpaid debts.

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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.

FFGN COLLECT NY

DECEMBER 15, 2024

Doing business with a delinquent customer? Applying current customer payments toward overdue accounts could cost you. Our client continued to sell to their customer, even though the customer was in arrears. However, the client changed the terms, requiring payment within a few days of shipment. The payments made were meant for the “newer” transactions.

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Bankruptcy Debtor Creditors Collections 52

Account Recovery

DECEMBER 17, 2024

The Consumer Financial Protection Bureau yesterday released a special edition of its Supervisory Highlights report, sharing its findings from examinations related to student loan refinancing, private lending, servicing, and debt collection. The report spotlighted violations that impact both federal and private student borrowers, particularly as 28 million federal borrowers resumed repayments after the COVID-19 pause.

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Student loans Student Loans Loans Collections 130

Consumer Finance

DECEMBER 19, 2024

The Consumer Financial Protection Bureau (CFPB) sued the operator of Zelle and three of the nations largest banks for failing to protect consumers from widespread fraud on Americas most widely available peer-to-peer payment network.

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Banks 128

JMA

DECEMBER 14, 2024

Managing multiple debtors can feel overwhelming, especially for businesses trying to maintain healthy cash flow while juggling other priorities. Unpaid invoices, late payments, and inconsistent follow-ups can quickly snowball into financial stress, putting your companys stability at risk. For small to medium-sized businesses, efficient debtor management isnt just about recovering owed moneyits about preserving client.

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Debtor 52

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Collections

On Guard

DECEMBER 5, 2024

While fewer than 20% of strategic decisions currently leverage AI in the Dutch finance sector, this figure is projected to surge to nearly 50% within the next five years. This is according to the latest Deloitte CFO Survey , based on a sample of over 130 Dutch CFOs from various sectors. The popularity of AI has surged with tools like ChatGPT, highlighting its ability to streamline work processes for some time now.

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Credit Management Healthcare Judgment Financial services 52

Credit Corp

DECEMBER 4, 2024

Debt consolidation may temporarily lower your credit score due to hard inquiries and changes in credit utilization, but consistent, on-time payments can help improve it over time. Carrying debt, whether its through personal loans, credit cards, mortgages, or student loans, is common in America. And if youre struggling to keep up with your payments, youre not alone.

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Debt Consolidation Consolidate Debt Credit Card Debt Loans 52

The Kaplan Group

DECEMBER 5, 2024

A new study by The Kaplan Group , a commercial collection agency, examines subscription saas companies are doing on collection against accounts receivables from 2020 to 2024, revealing significant shifts in payment patterns and operational efficiency. The software as a service industry’s financial health can be effectively gauged through its payment collection efficiency, particularly through metrics such as Days Sales Outstanding (DSO) and Accounts Receivable to Revenue ratios.

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Collections Commercial Collection Collections Agency Collection Agencies 52

Account Recovery

DECEMBER 20, 2024

Rep. Maxine Waters [D-Calif.], ranking member of the House Financial Services Committee, this week reintroduced H.R. 10509, the Comprehensive Debt Collection Improvement Act. This legislation, first introduced in 2021, seeks to modernize federal debt collection laws while offering stronger protections for consumers facing various types of debt. Key details: The proposed bill would bring several changes to current debt collection practices, including: Why it matters: Consumer advocacy groups have

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Collections Fair Debt Collection Financial services 130

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