Collections
Wage Garnishments By State
Wage Garnishment Laws by State 2023What is Wage Garnishment?Wage garnishment, also called wage attachment, is a legal process for collecting a monetary judgment for a creditor if a debtor does not pay their debt. It involves a court order requiring that an employee withholds a portion of the debtor's paycheck... https://worldpopulationreview.com/state-rankings/wage-garnishment-laws-by-state
FCC Declares ‘Ringless Voicemails’ Are Subject to Robocalling Rules
FCC DECLARES THAT ‘RINGLESS VOICEMAILS’ TO CONSUMER CELL PHONES ARE SUBJECT TO ROBOCALLING RESTRICTIONSWASHINGTON, November 21, 2022—The Federal Communications Commission today clarified that callers must obtain a consumer’s consent before delivering “ringless voicemail,” a message left in a consumer’s mailbox without ringing their cell phone. The unanimous decision by the... FCC - Ringless Voicemails
FEDERAL TRADE COMMISSION 16 CFR Part 314 RIN 3084-AB35 Standards for Safeguarding Customer Information
SUMMARY: The Federal Trade Commission is delaying the effective date set forth in 16 CFR 314.5 of portions of the amended Safeguards Rule, 16 CFR Part 314, as published on December 9, 2021, 86 FR 70272. DATES: The effective date for portions of the final rule published December 9, 2021,... FTC - SAFEGUARDS ACT
FTC Extends Deadline by Six Months for Compliance with Some Changes to Financial Data Security Rule
November 15, 2022 - The Federal Trade Commission today announced it is extending by six months the deadline for companies to comply with some of the changes the agency implemented to strengthen the data security safeguards financial institutions must put in place to protect their customers’ personal information. The deadline... https://www.ftc.gov/news-events/news/press-releases/2022/11/ftc-extends-deadline-six-months-compliance-some-changes-financial-data-security-rule
Nine Critical Capabilities that Collection Software Systems Need in 2021
No doubt 2020 was one of the most difficult years on record for the collection industry. Unfortunately, 2021 looks to be every bit as daunting given the latest major challenges: • Ongoing social & economic impacts from the COVID-19 Virus (deferred payments/rising defaults) • Expanding list of State & Federal...
TotalCollectR brings artificial intelligence to Collections Max in a new partnership to help lenders and collection agencies collect more money
Lansing, Michigan - Total CollectR, a premier provider of virtual agent and debt negotiations solutions, has announced a partnership with Decca Software Lansing, Michigan – Total CollectR, a premier provider of virtual agent and debt negotiation solutions, has announced a partnership with Decca Software Company to fully integrate Total CollectR with...
Find Debtors Faster to Drive Collections Success
Increase efficiency by automating account monitoring.To be efficient and successful in collections you need the right information at the right time. Debtor data changes quickly, which makes monitoring debtor accounts a necessity despite how tedious it can be. Manual searching of multiple resources is a slow process. Not only does it... https://risk.lexisnexis.com/insights-resources/video/monitor-debtor-accounts
Debt Collection Practices (Regulation F)
Debt Collection Practices (Regulation F)A Rule by the Consumer Financial Protection Bureau on 11/30/2020DOCUMENT DETAILSPrinted version:PDFPublication Date:11/30/2020Agency:Bureau of Consumer Financial ProtectionDates:This rule is effective November 30, 2021.Effective Date:11/30/2021Document Type:RuleDocument Citation:85 FR 76734Page:76734-76907 (174 pages)CFR:12 CFR 1006Agency/Docket Number:Docket No. CFPB-2019-0022RIN:3170-AA41Document Number:2020-24463DOCUMENT DETAILSDOCUMENT STATISTICSPage views:1,182as of 12/02/2020 at 10:15 am ESTDOCUMENT STATISTICSENHANCED CONTENTDocket Number:CFPB-2019-0022Docket Name:Debt Collection... https://www.federalregister.gov/documents/2020/11/30/2020-24463/debt-collection-practices-regulation-f
Three out of Five Collection Systems are Outmoded. Is Yours One of Them?
Most traditional collection software platforms in use today are based on old underlying technology and outdated designs. They were never built to support the latest needs of today’s collection organizations. Even collection software systems deployed in the past five years may already be outmoded. While outmoded collection systems can create...
Succeeding in Collections Today Requires More Agility
It is not a new revelation that the collections and recoveries market is becoming more dynamic and complex. Even before the advent of Covid-19, the industry was changing at a faster pace. However, what is not widely known is that collections and recoveries operations are struggling more than ever before...