This interesting article by Wendy Frink explains the do’s and dont’s of social media posting. The infograph in the article has the secrets to making a social post go viral. Do not be discouraged if your post does not go viral immediately after it has been published. Re-share the post on a later date and you will…
An interesting slideshow titled ‘Cutting edge strategy for Business of new Millennium’ by the Institute of Credit And Collection Management of Nigeria. Introduction: Whether a company is public or private, an effective strategy creates value for shareholders and customers. Today’s world strategies should generate unique value, starling value, personalized value, turbo-speed value and employee driven…
Wonga, a startup payday lender has been forced to compensate thousands of customers for sending letters from fake law firms demanding they repay their debts.
The financial technology firm has agreed to pay £2.6m to 45000 customers as compensation for sending threatening letters from non-existent law firms.
Source: Financial Times
Now debt collection litigation lawyers cannot leave voice mail or a telephone message to a debtor.
They would be in violation of sections 1692e(3) and 1692e(10) of the Fair Debt Collections Practices Act (FDCPA).
Source: Inside ARM
Canada has enacted legislation to define the status of crypto-currencies, which is the first legislation worldwide. The amendments make Bitcoin and all digital currencies subject to laws applied to businesses dealing with money.
Souce: The Register
The Michigan Supreme Court recently expanded the definition of a collection agency to include forwarders and forwarding companies. Forwarding companies now require a collection agency licenses in the state.
In the case, forwarders were alleged to be operating as collection agencies without a proper license.
Source: inside ARM
The steady growth of digital currency transactions in Australia had the ATO worried of people avoiding paying tax.
The ATO will finally release a digital currency guidance by the end of the financial year.
Source: Yahoo Finance