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Educational News

Biden proposes new student-loan measures after court defeat

WASHINGTON, June 30 (Reuters) – President Joe Biden on Friday announced new measures to provide student loan relief to Americans and condemned the U.S. Supreme Court for blocking a plan to cancel hundreds of billions of dollars in debt that…
Government News

D.C. City Council Passes Final Debt Collection Legislation Taking Effect in 2023

The Washington, D.C., City Council has approved a law to address gaps in the district’s debt collection regulations. The council unanimously approved the “Protecting Consumers from Unjust Debt Collection Practices Amendment Act of 2022,” sponsored by City Council Chairman Phil…
Editorial News

Average long-term US mortgage rate rises to 6.71% in first increase after three straight drops

LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose this week, snapping a three-week pullback after reaching a high for the year in early June. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark…
Bankruptcy News

Credit unions and banks don’t get along, but join forces against CFPB

LONG BEACH, Calif. — Banks and credit unions rarely see eye-to-eye, so it was no surprise when Dan Berger, president and CEO of the National Association of Federally-Insured Credit Unions, called out “greedy” bank executives responsible for recent bank failures. …
Editorial News

Best way to hire the best person for a job!

When seeking to hire the most intelligent employee for a position, it’s important to consider a combination of factors beyond just intelligence. Here are some strategies to help you identify and hire highly intelligent individuals: 1. Clearly Define Job Requirements:…
Legal News

New debt collection scam causes AG Nessel to raise alarm

WXYZ) — A new scam using letters posing as the State of Michigan is causing Attorney General Dana Nessel to raise alarm to Michigan residents and businesses. “Posing as our state agencies to scare businesses and workers into paying entities…
Editorial News

Risk mitigation strategies in debt collection

Risk mitigation strategies in debt collection are measures and practices implemented by collection agencies or creditors to minimize potential risks associated with debt collection activities. These strategies aim to protect the interests of the organization, ensure compliance with regulations, and…
Editorial News

When dealing with an international debtor as a collector based in the United States, there are several steps you can take to increase your chances of collecting the debt.

Here are some recommended steps to follow: 1. Gather information: Start by gathering as much information as possible about the international debtor. This may include their contact details, business information, financial records, and any documentation related to the debt or…
Educational News

Supreme Court blocks Biden student loan forgiveness

WASHINGTON, June 30 (Reuters) – The U.S Supreme Court handed President Joe Biden a painful defeat on Friday, blocking his plan to cancel $430 billion in student loan debt – a move that had been intended to benefit up to…
Editorial News

When attempting to collect an overdue balance from a client who has not made payment, it is crucial to approach the situation professionally, assertively, and within the boundaries of the law. 

Here is a recommended method for collecting an overdue balance: 1. Send a polite reminder: Start by sending a friendly and professional reminder to the client, stating that their payment is overdue. Include specific details about the outstanding balance, the…