RMAi Blog

OCTOBER 22, 2024

Earlier today, the New York City Department of Consumer & Worker Protection (DCWP) announced that they are going to delay enforcement of the new Debt Collector Rules until April 1, 2025. The effective date for the new rule remains December 1, 2024. However, delayed enforcement should not be confused with delayed enactment.

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RMAi Blog

OCTOBER 21, 2024

On Friday evening, October 18, 2024, ACA International and Independent Recovery Resources Inc. filed suit against New York City for declaratory and injunctive relief from the debt collection rule promulgated by the New York City Department of Consumer and Worker Protection (DCWP) on August 12, 2024. See related RMAI Member Alert.

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RMAi Blog

AUGUST 16, 2024

On August 12, 2024, the New York City Department of Consumer and Worker Protection (DCWP) published its long-awaited amendments to the City’s Debt Collection Rule and an FAQ. The rule takes effect on December 1, 2024. DCWP has been working on revisions to this rule since November 2022.

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Your Virtual Credit Manager

JANUARY 9, 2024

Two weeks ago we recapped the three most read articles from 2023: identifying red flags, understanding why customers pay late, and the secrets of successful collectors. Then last week we looked at credit hold best practices. From a credit management perspective, these are largely reactive topics. There is nothing wrong with that.

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Credit and Collections AR Aging Accounts Receivable (AR) Deductions 130

Your Virtual Credit Manager

JULY 2, 2024

until July 31, 2024, you can take advantage of our Independence Day Sale to lock your subscription to Your Virtual Credit Manager at $34.99 Being a collector requires patience, persistence, and effective communication skills. That’s why collectors need to be effective communicators. annualy, forever.

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RMAi Blog

SEPTEMBER 25, 2024

On September 24, 2024, Governor Gavin Newsom signed into law three consumer protection bills aimed at medical debt, commercial debt, and enforcement of money judgments. RMAI actively lobbied and were able to achieve amendments on all three bills.

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Your Virtual Credit Manager

AUGUST 2, 2024

Tuesday, August 6, 2024 1:30 PM Eastern Daylight Time (EDT) Learn More & Register Special offer for readers of Your Virtual Credit Manager: This session will discuss how to optimize cash flow and working capital for your enterprise by applying the best collection strategy to each customer.

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Collector Credit and Collections Credit Management 100

Your Virtual Credit Manager

APRIL 23, 2024

Collectors are continually learning what works to get people to pay up and what doesn’t. The good news is that until May 1, 2024, annual subscriptions are only $29.40. As the philosopher George Santayana observed, “Those who cannot remember the past are condemned to repeat it.” that’s 40% off the standard price.

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Bankruptcy Chapter 11 Credit and Collections Collector 130

RMAi Blog

MAY 12, 2023

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. Mendelson Firm, PLLC | TN Dynamic Collectors, Inc. |

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Your Virtual Credit Manager

SEPTEMBER 26, 2023

Hiring a temporary collector or two is one solution. The last thing you want to happen is to see is many large customer payments get pushed into 2024. That type of thing can have a large impact on your financial position come December 31, 2023, and you won’t be able to change it until the end of 2024.

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Credit and Collections Accounts Receivable (AR) Deductions Collector 147

Gaviti

FEBRUARY 18, 2024

Its experienced PCS debt collectors are knowledgeable of relevant regulations such as HIPAA and legal processes necessary to recover debt. The post Best Outsource Debt Collection Services for 2024 appeared first on Gaviti. It has a “no money, no fee” approach to collections. Contact us and book a demo today.

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Debt Collections Credit and Collections Days Sales Outstanding Invoice to Cash 52

Reorg Blog

MARCH 25, 2024

Swedish debt collector Intrum’s bondholders have split into two groups, with investors across the 2024 and 2025 notes forming a front-end group and lining up Weil Gotshal & Manges as legal advisor, sources told Reorg.

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Collector 59

Reorg Blog

FEBRUARY 28, 2024

We recently reported on the upcoming maturity wall that Swedish debt collector Intrum is facing, with €654 million maturing in 2024, at least €1.3 billion maturing in 2025 and €2.1 billion in 2026.

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Collector 52

Collenda

JULY 31, 2024

Building upon the Tailored Support Guidelines (TSG) introduced during the Covid-19 pandemic, the FCA aims for these measures to be an enduring element of a lender or debt collector’s Consumer Duty. Lenders are asked to extend support not only to those already in arrears but also to customers at risk of payment difficulties.

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RevCycle

JANUARY 23, 2025

Key provisions include: Prohibition on Reporting Medical Debt: Healthcare providers and debt collectors are barred from reporting medical debt to credit reporting agencies, preventing such debt from adversely affecting credit scores. Rhode Island SB 2709 in Rhode Island eliminates credit reporting for medical debt at the state level.

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RMAi Blog

MARCH 14, 2025

For a comprehensive overview, members can refer to the December 5, 2024 RMAI Member Alert. While the bill did not move in 2024, it is not pre-determinative for passage in 2025. ] Relying on the representations of the creditor, the debt collector reported the consumers account to the CRAs as undisputed. New York A.1356

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Collector Credit and Collections Law Firms Default 130

RMAi Blog

NOVEMBER 25, 2024

First, the Court analyzed the FDCPA’s provision, breaking it down into three principles: The basic prohibition: A debt collector may not “communicate with a consumer” in connection with any debt collection at (i) any unusual time or place, or (ii) a time or place known or which should be known to be inconvenient to the consumer. See 15 U.S.C.

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Collector Debt Collections 130

RMAi Blog

JANUARY 21, 2025

Michael joined JJ Marshall as Chief Compliance Officer in June 2024. He is certified with the Receivables Management Association International as a Certified Receivables Compliance Professional, and with the American Collectors Association as a Credit and Collections Compliance Officer.

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Collector Credit and Collections 147

RMAi Blog

APRIL 12, 2023

Nevada AB 223 – This bill would require debt collectors to provide a payoff letter within 10-days of a consumer request. New York AB 1035 – This bill would prohibit debt collectors from communicating with consumers through the use of email, text messaging, or private communication tools offered by social media companies. NPAS, Inc. ,

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Law Firms Collector Credit and Collections Default 100

RMAi Blog

MARCH 14, 2023

Nevada AB 223 – This bill would require debt collectors to provide a payoff letter within 10-days of a consumer request. New York AB 1035 – This bill would prohibit debt collectors from communicating with consumers through the use of email, text messaging, or private communication tools offered by social media companies.

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RMAi Blog

JANUARY 13, 2023

The 2023-2024 Congressional Session promises to be busy – RMAI has a strong team in place to defend, protect and promote the accounts receivables management industry. A debt collector sent three collection letters via a letter vendor to a consumer regarding outstanding student loan debt. Prof’l Bureau of Collections of Md.,

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Law Firms Collector Credit and Collections Debt Collections 100

RMAi Blog

JANUARY 14, 2025

RMAI submitted comments to the CFPB on August 7, 2024, which can be read here. The CFPB closed out the year by releasing its Regulatory Agenda , outlining the regulatory matters it expects to address between December 2024 and October 2025. While the bill did not move in 2024, it is not pre-determinative for passage in 2025. ]

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