RMAi Blog

MAY 12, 2023

Nat’l Credit Sys. , A debt collector unaware of the discharge, allegedly due to a bona fide error, sent several collection letters to the consumer regarding the past-due rent. The consumer filed a lawsuit claiming the debt collector, by seeking payment following the discharge, “violated 15 U.S.C. 2190 (2021)].

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Professional Credit

MAY 23, 2022

Professional is proud and honored to recognize Justin Murphy as he finalizes his year serving as the Washington Collectors Association (WCA) president. Justin, and the WCA, have positively influenced consumer collection laws to protect our clients and ensure they get the greatest recovery. Congratulations, Justin! .

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JSP Credit Management

JUNE 27, 2022

For instance, our very first exposure to debt collection was only made possible by the kind of supervision from a more experienced debt collector that would be more akin to a guardian attentively watching over a new-born baby for fear of anything going wrong. Back then of course, this was completely necessary.

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Professional Credit

MAY 5, 2022

Professional Credit is an industry resource for Reg F for a reason, and we’re here to give you the play-by-play. While these edits to Reg F went into effect at the end of 2021, we’ve found many organizations are still unaware of the elements that affect them. The CFPB’s edits to Reg F contained a lot of changes for collection agencies.

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JSP Credit Management

FEBRUARY 10, 2022

Have a quick scan through some of our blogs over the last 10 months or so and you will notice repeated references to the industries we have worked with and in over the years (before JSP Credit Management became a company). By “we”, we mean the industry of credit management professionals and debt collection agencies like ourselves.

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Lendio

NOVEMBER 29, 2022

Before a lender in particular will approve your application for a business loan , you typically need to prove that you and your business are good credit risks. Some borrowers may have trouble satisfying the qualification requirements of traditional commercial lenders—especially startups and small business owners with less-than-perfect credit.

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Due

JUNE 1, 2023

billion to fraud in 2021 — that’s 70% more than in 2020. million people reported fraud to the FTC in 2021 – the highest number since 2001. You should never provide any personal or financial information to anyone you don’t know, including your credit card number or Social Security number.

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billtrust

DECEMBER 20, 2022

In a 2022 survey, Forrester Research found that 73% of organizations say growth is a top priority (up from 40% in 2021), and 71% also say improving products and/or services is at the top of their minds. Credit remains tied up, and collectors are unaware. Until cash can be applied, credit remains on hold.

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SAP Credit Management

DECEMBER 26, 2022

This can be executed via SUM or t-code SUMTOOLBOX after passing the phase RUN_RSPTBFIL_ZDM_CLASSIFY (The initial shipment of SUM toolbox was released in Dec 2021 via TCI sap note. In transaction ST03, expand subtree Collector and Performance DB -> Performance Database -> Monitoring Database -> Reorganization.

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Abrigo

NOVEMBER 22, 2021

Takeaway 3 Consumer compliance laws related to debt collection and preventing money laundering are also important for lenders. Banks and credit unions extending payments on vehicle loans, personal loans, or other consumer loans had to ensure they provided accurate disclosures in compliance with federal and state consumer protection laws.

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Abrigo

DECEMBER 1, 2022

Another aspect of the art and antiquities trade making it prone to money laundering is that it is difficult to place a value on these high-end items as the worth is based on the eye of the collector – the purchaser. Absence of requirements to report large cash transactions. Stay up to date on trends in money laundering and AML/CFT regulation.

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RMAi Blog

MARCH 14, 2023

This is a very expansive definition which would include medical debt charged on a credit card, including a bottle of Tylenol purchased from a grocery store. RMAI is strongly opposed to this bill and is working with our Colorado lobbyist and other industry trade associations to get an exemption for credit card debt.

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RMAi Blog

APRIL 12, 2023

The following bills of concern are a sample of the legislation that RMAI is currently engaging on behalf of the industry: California AB 1414 – This bill would exclude consumer credit accounts from the definition of “book account” which would force all litigation through a contract theory for litigation.

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