Cash is King Listen to another episode Listen Listen About Transcript About CFPB 2024 Annual Report on Activities to Administer the Fair Debt Collection Practices Act I. Introduction and Spotlight on Medical and Rental Debt 1.1 Medical Debt 1.1.1 Introduction: This section highlights the CFPB’s work on medical debt issues, including a proposed rule to…
Read articleIn this episode, we explore the latest developments in California debt collection compliance. With the Department of Financial Protection and Innovation (DFPI) introducing stricter regulations, businesses must now adhere to updated email communication requirements and meet an upcoming background check deadline. Join us as we dive into how these changes impact the industry and what steps agencies must take to stay compliant, all while ensuring the ethical management of debt collection.
Read articleNavigating the World of Collections: AI, Cybersecurity, and Legal Trends" In this episode, we dive deep into the ever-evolving landscape of collections, discussing how new AI technologies, legal changes, and cybersecurity challenges are shaping the industry. We explore the CFPB's proposed rule on medical debt reporting, strategies for dealing with Roble letters, and practical tips for safeguarding against ransomware attacks. Stay tuned as we unpack these critical developments and what they mean for businesses today. This episode offers valuable insights for anyone looking to stay ahead in the world of debt collection.
Read articleIn this segment, we dive into the intricacies of commercial debt collection, focusing on the psychology and tactics required to turn signed contracts into actual payments. Burt and Associates stand out with a debt recovery rate 33% higher than the industry average by leveraging personalized, case-specific strategies. In a detailed case study, we explore how they recovered $75,000 for Alpha Plumbing Solutions through structured communication and maintaining business relationships. Key takeaways include the importance of timely action, clear communication, and preserving relationships to foster long-term success in debt recovery.
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