debt collection

In this final episode of The Consumer Finance Podcast Year in Review series, host Chris Willis is joined by Tim St. George, a key member of our Consumer Financial Services Litigation team. They discuss the significant developments in consumer finance class action litigation in 2023 and what to expect in the year ahead. Topics include ethical issues associated with class actions, the debate over service awards, attorney-client privilege, and more. Tune in to gain insights from Tim's extensive experience in class action litigation and stay informed about the evolving legal landscape.

To download a copy of the Consumer Financial Services Year in Review and a Look Ahead, please click here. For a list of our upcoming webinars, visit our Troutman Pepper Insights page. And to make sure you don't miss another episode of this podcast, please click subscribe.

Join us for an enlightening episode of The Consumer Finance Podcast, where we dissect the intricate world of debt collection, reflecting on the past year and forecasting future trends. This episode, hosted by Chris Willis, features insightful discussions with Stefanie Jackman and Jonathan Floyd, both well-versed in the field of debt collection. We explore significant Supreme Court cases that could reshape the collections landscape, the impact of Regulation F on validation notices, and the complexities surrounding credit reporting and medical debt. Stefanie and Jonathan share their perspectives on emerging trends and potential challenges in the collections industry. This episode is a must-listen for creditors, servicers, and collectors seeking to understand the ever-evolving landscape of debt collection. Stay tuned for the next and final episode of our Year in Review and a Look Ahead series on The Consumer Finance Podcast, providing valuable insights for anyone involved in consumer finance.

To download a copy of the Consumer Financial Services Year in Review and a Look Ahead, please click here. For a list of our upcoming webinars, visit our Troutman Pepper Insights page. And to make sure you don't miss another episode of this podcast, please click subscribe.

Join us for the second episode of our Year in Review and a Look Ahead series, where we delve into the fintech world. Our host, Chris Willis, co-leader of Troutman Pepper's Consumer Financial Services Regulatory practice, is joined by James Kim who leads the firm's Fintech practice. They discuss the significant events in the fintech sector in 2023 and what to anticipate in 2024, covering key regulatory developments, the impact of the Consumer Financial Protection Bureau's proposed rules, and the increasing scrutiny of fintech-bank partnerships. Don't miss this insightful conversation as we navigate the evolving fintech landscape. Stay tuned for the next episode of our Year in Review and a Look Ahead series on The Consumer Finance Podcast, providing valuable insights for anyone involved in consumer finance.

To download a copy of the Consumer Financial Services Year in Review and a Look Ahead, please click here. For a list of our upcoming webinars, visit our Troutman Pepper Insights page. And to make sure you don't miss another episode of this podcast, please click subscribe.

Please join Troutman Pepper Partners Chris Willis and Michael Lacy for a special inside look at our annual publication of the Consumer Financial Services Year in Review and Look Ahead. In our eighth year of publishing this annual review of regulatory and legal developments in the consumer financial services industry, our team has prepared a thorough analysis of the most important issues and trends across 17 consumer protection areas. For the first time, we are rolling out both webinars and podcasts on select topics to not only provide more in-depth coverage of 2023 events, but also let you know what we expect in 2024. This material will be beneficial to in-house counsel, compliance managers, regulators, and anyone in the consumer financial services space who wants to stay ahead of the curve.

To download a copy of the Consumer Financial Services Year in Review and Look Ahead, please click here. For a list of our upcoming webinars, please check out our Troutman Pepper Insights page. And to make sure you don't miss another episode of this podcast, please click subscribe.

Debt collection is oftentimes met with resentment and associated with negative connotations. Many folks in the space, however, are actively working to change this by approaching collections with empathy. 

This week on The CEO Next Door, we chat with Clint Daoud, CEO of Unifin, Inc.  We learn how how Unifin is helping people achieve financial stability and independence while flipping the script on what it means to be a debt collector. 

Please join Troutman Pepper Partners Kim Phan and Stefanie Jackman for a special podcast episode showcasing our firm's state and federal legislative and regulatory tracking products. These powerful tools were designed to inform industry professionals about the latest state and federal legislative and regulatory developments in order to aid organizations with their compliance management systems and initiatives. The weekly trackers focus on three areas: debt collection, privacy and data security, and consumer reporting and Fair Credit Reporting Act case law. In addition to a weekly tracker, you will be invited to participate in monthly roundtable discussions with Kim and Stefanie. You will also have access to a searchable online portal, which houses all of the information sent out in the weekly updates plus the topics covered in our monthly roundtables. Please tune in to learn more about receiving this valuable tool for your organization.

For more information on our firm's state and federal legislative and regulatory tracking products, contact Stefanie Jackman, Kim Phan, or Mike Bevel.

Delve into the world of estate administration in the digital age with our guest, Ari Brojde, CEO of Estateably. Host Bryn Griffiths uncovers the secrets behind efficiently managing debts, distributing assets, and handling the ever-evolving landscape of managing and closing estates. Ari shares his journey, from recognizing industry pain points to creating a revolutionary software platform that simplifies the process for professionals and beneficiaries alike. Discover the importance of advertising for creditors, the rise of online filing, and the power of innovation in this captivating conversation. Get ready to gain overdue advice on estate administration in a digital world. 

Ari Brojde is the co-founder of Estateably, a tech company he started in 2018 with his cousin, Alex. After Ari and Alex's grandmother passed away, they realized the complexities of the estate administration process. Ari had a background in the financial services industry and had previously founded a tech company that aimed to improve collaboration among professionals in the industry. During the sale of that company, Ari received feedback suggesting that their document inventory system would be valuable in estate administration. Curious about to improve the slow process of settling estates, Ari reached out to lawyers, accountants, and wealth advisors to understand the challenges they faced. He discovered that the estate administration process was manual, labor-intensive, and lacked automation and collaboration tools. Seeing an opportunity to make this process easier, Ari and Alex founded Estateably to provide solutions for estate administrators.

[00:00:55] Founded Estateably in 2018 to simplify estate administration process.

[00:05:50] Difficult to find deceased's digital assets.

[00:10:22] Executors benefit from dealing with claims up front, helping professionals and beneficiaries. Notice Connect revolutionized the advertising process for creditors, making it easier and cheaper. Ontario and Saskatchewan have adopted online filing, a trend that will continue.

[00:13:17] 70% of Canadians die with debt. Estateably helps settle estates and track debt. Executors must file notices for creditors.

[00:16:57] Listen to your customers, find deficiencies, innovate.

[00:20:33] Being open to feedback, evolving vision, laser-focused.

The Robodebt royal commission has made damning findings about government ministers and public servants who created and administered the automated debt recovery scheme from Centrelink recipients. And why is the technology company that created ChatGPT being sued in US courts? 

It probably comes as no surprise that the term statutory demand is one of the most Googled legal phrases. In this edition of the Law By Dan podcast, Dan talks with  South Geldard Director Gordon Stünzner about what statutory demands are, in particular their use in debt collection.

Reach Gordon at www.southgeldard.com.au
Reach Dan at www.lawbydan.com.au

The Law By Dan network is all about enhancing accessibility to legal help

We work with law firms and legal services (government and non-government) everywhere, helping them be more accessible and successful in providing legal information and advice. We also own numerous platforms with the similar objective of improving access to legal help in innovative and creative ways, including the Law By Dan podcast, Harry Quinn, Mediations Australia, Fast Firms, LawDash, LawStripe and FirmRanker

Join Troutman Pepper White Collar and Litigation Partner Cal Stein for a special podcast series, examining the legal landscape surrounding the Racketeer Influenced and Corrupt Organizations Act (RICO).

In this installment, Cal welcomes Troutman Pepper Associate Timothy Bado to discuss how unlawful debt collection practices can serve as a basis for a RICO claim. Specific topics include:

• Unlawful debt collection as a prohibited RICO activity (2:15);
• Definition of "unlawful debt" (6:05);
• What is a "usurious" loan? (10:30);
• "The business of" illegal gambling or usurious loans (14:49);
• Pleading unlawful debt collection vs. fraud (17:30);
• RICO litigation trend: "Rent-a-bank" cases (20:15); and
• RICO litigation trend: Merchant cash advance cases (24:57).

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Roughly 28% of Americans have at least one debt in collections. And the recession, high student debt, and lack of affordable health care are only making things worse. And what happens when a debt goes into collections? 

Well, when a debt goes into collections, the impact on your credit score is devastating. It damages your credit score, makes it harder for you to get loans and debt collectors start harassing you!

To make it worse - debt collections are one of the most derogatory items that can appear on your credit report. 

But don’t worry. There are four proven tactics for removing collections from credit reports. In this week’s episode, I explain each one. 

So you better stick around! 

Key Takeaways:

• Intro (00:00)
• The impact of collections and how to remove them (00:52)
• Tactic number one (04:05)
• Tactic number two (05:32)
• Tactic number three (06:03)
• Tactic number four (06:53)
• My final point (08:21)
• Credit Hero Score (08:36)
• Community Spotlight (09:00)
• Outro (10:11)

Additional Resources:

- Get a free trial to Credit Repair Cloud

- Get my free credit repair training  

- My interview with Millionaire Club member Robin

Make sure to subscribe so you stay up to date with our latest episodes.

There are a few calls we can look forward to in our day but calls from debt collectors don’t make the favourites list. Our Head of Financial Education, John Manyike, sat down with lawyer and debt expert Timmy van der Grijp as he shares some useful facts and information around types of debt, our responsibilities and rights as consumers regarding debt. 

Thanks for listening! Interested in getting more financial education? Visit our website for free resources. You can follow us on Twitter, Facebook, Instagram, TikTok, and YouTube.

As a growing vertical, this whole sector is struggling to scale and still be cost effective. Voicebots are part of a solution that now a reality. no longer is this technology seen as experimental, but it is in use across this sector and should be a move that allows early recovery and a whole new opportunity for smaller consumer debt.

Find out more and see how this is taking the sector by storm.

Visit our site to find out more about voicebots in debt collection.

Our latest series of podcasts, concentrates on voice and how that is going to impact the next few years with tips along the way. Find out more about voicebots here and if you have any subjects that you would like us to discuss then email info@disruptionworks.co.uk with the subject Podcast and we will see what we can do ;-)

Remember when those guys who had slicked back hair and carried a bat paid you a visit about a debt you owed? You know debt collectors.

Well times have changed and March Schillinger, founder of eCollect is transforming the way debt collection and account receivables takes place. eCollect is a fully digitalised receivables management FinTech startup with best-in-class AI and machine learning technology. They’re currently operating in several European countries, provide services for more than 13 languages, and are approaching 10 million in ARR. This is a very fun conversation with Marc as we learn about eCollect and Marc’s passion for Michael Jordan as I believe he’s Jordan’s number 1 fan. Listen to his story to see why. 

Highlights:

0:32 – who is Marc Schillinger?

1:42 – what has changed in the field of debt collection?

2:55 – are there differences in the methods in how people pay their debts by country?

4:34 – are you servicing specific types of industries?

5:45 – what are some of the main tactics you use to grow eCollect?

7:40 – how are you managing workers who are in three separate countries?

9:30 – what is your projected revenue for 2022?

9:45 – what do you wish you had known before you started eCollect?

10:55 – what is one hire you made that really made a difference in the company?

13:30 – what changes do you anticipate five years from now in this industry?

16:32 – is there something else that clients get excited about when they discover eCollect?

19:50 – what was one of the hardest obstacles you had to overcome in growing eCollect?

21:50 – does corn belong on pizza?

22:30 -  a favorite tv show you can watch again and again?

24:55 – what is something that most people don’t know about you?

Be sure to stick around for the Innovators Can Laugh segment! You won’t want to miss Marc’s hilarious answers!

Do you wish to connect with our special guest?

Visit Marc’s website: ecollect.net

Tune in to every conversation about exciting European Startups and Innovators on Apple Podcasts, Spotify, and Amazon! Leave a rating and review so we can

For the Innovators Can Laugh newsletter in your inbox every week, subscribe at https://innovatorscanlaugh.substack.com

Previous guests include: Arvid Kahl of FeedbackPanda, Andrei Zinkevich of FullFunnel, Scott Van den Berg of Influencer Capital, Buster Franken of Fruitpunch AI, Valentin Radu of Omniconvert, Evelina Necula of Kinderpedia, Ionut Vlad of Tokinomo, Diana Florescu of MediaforGrowth, Irina Obushtarova of Recursive, Monika Paule of Caszyme, Yannick Veys of Hypefury, Laura Erdem of Dreamdata, and Pija Indriunaite of CityBee.

Check out our five most downloaded episodes:

From Uber and BCG to building a telehealth for pets startup with Michael Fisher

From Starcraft Player to Maximizing Customer Lifetime Value with Valentin Radu

Revolutionizing Parent-Teacher Communication with Kinderpedia

...

This is one of the most powerful use case for a neat and sophisticated voicebot. With debt collections on the rise, scaling and costing the collection of debt is a tricky service to actually make good margins against.

The smaller debts are too costly to collect and the timeslots for success are really tight, but when it does not matter whether you are making 10 or 1000 calls an hour, the bot can scale and be cheaper than an agent and it is easier to train.

So how does it work, well give it a listen and find out.

Find out more about voicebots

Our latest series of podcasts, concentrates on voice and how that is going to impact the next few years with tips along the way. Find out more about voicebots here and if you have any subjects that you would like us to discuss then email info@disruptionworks.co.uk with the subject Podcast and we will see what we can do ;-)

Please join Consumer Financial Services Partner Chris Willis and his guests and colleagues Stefanie Jackman and Sarah Reise as they discuss the intersection of fair lending with collections. They cover which types of third-party debt collection processes could be subject to a fair lending review, the difference between disparate treatment and disparate impact, how the CFPB may review collection-related decisions, what a basic fair lending analysis may look like for collectors, the processes likely to be targeted for a fair lending review, and what collectors can do now to update their compliance management system and assess their operations to identify and mitigate potential fair lending issues.

Consumer Financial Services Partner Stefanie Jackman focuses a significant portion of her practice on providing compliance-related advice to her clients. She regularly counsels clients on conducting compliance assessments relating to their debt collection, credit reporting and dispute resolution processes, fair lending and underwriting, and vendor oversight, as well as the functionality of their overall compliance management system.

Sarah is counsel in the firm’s Consumer Financial Services Practice Group where she represents clients in financial services and mortgage banking in cases involving all aspects of consumer financial services and products, including claims arising under state and federal lending statutes and consumer protection laws, such as the Fair Credit Reporting Act (FCRA), the Fair Debt Collections Practices Act (FDCPA), the Real Estate Settlement Procedures Act (RESPA), and the Truth in Lending Act (TILA).

Scams, scams, and more scams! False, illegitimate, or even worse, illegal debt collection agencies are popping up left and right. How do you know when to pay a debt and when not to pay a debt, or what’s real and what’s not?

If you haven’t yet been approached by clients who have been harassed by debt collectors, you will soon, and you need to know what to do and what NOT to do to help and protect them. 

The FDCPA  (or the Fair Debt Collection Practices) was created to prevent unfair, deceptive, or abusive practices by debt collectors. But, too often, it doesn’t stop them from breaking the law in an attempt to collect on the debt. 

However, once they do break the law, it’s possible not only to stop the harassment but also to be awarded a settlement!

As you’re becoming an expert in credit repair, it’s important to understand the regulations so you can advise your clients on how to respond and whether they are being treated unfairly according to the law. 

In this episode, I’m going to give you the tools you need in your toolbelt, so you can strike back against debt collectors - AND WIN! 

Key Takeaways for This Week:

• How to protect your credit repair clients from scammer debt collectors (1:00)
• Illegal debt collection agencies are betting your client won’t put up a fight (2:36)
• The three major FDCPA restrictions on debt collectors (3:38)
• How quickly does your client need to answer a letter from a debt collector? (6:34)
• How does having a paper trial protect your client against debt collection scams? (7:07)
• Top 7 ways to strike back against debt collectors (7:37)
• What I learned from one of my recent episodes with Ray Bueno (9:14)

Additional Resources:

• Get a free trial to Credit Repair Cloud
• Sign up for the Credit Hero Challenge

Make sure to subscribe so you stay up to date with our latest episodes!

5 States cashing your payments for Child Support. These states Texas, California, Florida, New York and Ohio are 35 percent of the total amount collect for income withholding from mostly men.

Child Support program also know as the Title 4D program is a debt collection process. This program is on of the most profitable of all the federal program. In 2018 the Title 4D made $5.15 for every dollar spent on the program.

This federal program is self-funded and it has a very powerful lobby group in Washington DC. 

Child Support Lawsuit Simplified. We teach you strategies and techniques to free yourself of judicial misconduct from the State and Federal. The guarantee is YOURS.

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