Daily Digest - December 6, 2024

New Digital Debrief Published!

Check out the newest Digital Debrief video! Each week, an expert from the accounts receivable management industry shares a tip or insight to help you optimize and maximize your digital collection efforts. This week, Chris Taylor from Revenue Group shares the biggest mistake companies make with their digital collection campaigns. Thanks to Concepts2Code for sponsoring this series! Click the image below for the latest episode.

A Shameless Plug for ARMTech

As you start your holiday shopping, consider buying the best present you can get yourself and sign up to attend ARMTech. I guarantee you will walk out of the event not only with great ideas, but also a ton of new contacts. There are so many innovators and disruptors who don’t show up to other industry conferences because ARMTech is the industry’s only event exclusively dedicated to talking technology — and that is where all the innovation and disruption is happening. Don’t miss out. Sign up today!

Don’t forget to check out what’s on the AccountsRecovery streaming channel. It’s a great way to catch webinars you may have missed!

Collector Facing FDCPA Class Action Over Multiple MVNs Received on Same Day

• One of the concerns that was raised in the build-up to the enactment of Regulation F had to do with how medical debts were going to be handled. In some circumstances, there were multiple providers and multiple debts and addressing how best to communicate that information, especially with the Model Validation Notice, could be tricky. Well, a consumer has filed a class-action lawsuit alleging a collection agency has violated the Fair Debt Collection Practices Act because he received four MVNs on the same day that all dealt with debts owed to the same creditor — a healthcare provider — and all had different amounts.

• More details here.

• This series is sponsored by WebRecon

A MESSAGE FROM TCN

TODAY’S WEBINAR

UPCOMING WEBINARS

Court Rules on FDCPA Case Over Unreceived Request For Additional Information to Clear Up Dispute

• A collection operation that couldn’t find a consumer’s information in its system to note the account was disputed. A plaintiff’s attorney who claims never to have received the request for additional information that the defendant sent when it couldn’t locate the account. This case has a lot going on. A District Court judge in Illinois has denied claims for summary judgment from both the plaintiff and the defendant in a Fair Debt Collection Practices Act case, while also ruling the defendant cannot invoke the FDCPA’s bona fide error defense and that the plaintiff is not entitled to actual damages.

• More details here.

CFPB Sends $1.8B to Victims of Lexington Law Scam

• When you couple that the Consumer Financial Protection Bureau is making its largest-ever distribution from its Victims Relief Fund, and that it will be sending $1.8 billion to more than 4 million consumers, with the fact that those consumers were victims of bait-and-switch advertising undertaken by Lexington Law and CreditRepair.com, it’s worth mentioning.

• More details here. 

New ARMSights poll, sponsored by Belvista

Most recent poll results:

State AGs Issue Warning to Dept. of Education Over Proposed Student Loan Relief Rule

• Missouri Attorney General Andrew Bailey is spearheading a 23-state coalition challenging the Biden Administration’s latest student loan forgiveness rule, accusing it of overstepping its authority. The coalition’s letter, signed by representatives from states including Alabama, Texas, and Florida, argues that the Department of Education’s fourth attempt to forgive student debt illegally shifts financial burdens onto American taxpayers without proper Congressional approval.

• More details here.

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Funny Friday, part I

Funny Friday, Part II