February 12, 2014 Newsletter
Continuing Education and Compliance
With the arrival of increasing regulation in all industries we service, the need to educate, assess and focus on compliance on all levels at Finance System of Green Bay, Inc. is critical. Webinars, trade shows and industry association training aids were all resources used, in the past, to help educate our staff. Until recently, Finance System of Green Bay, Inc. had been researching to find the best, daily, resource available to fulfill this need.
After a lengthy process, Finance System of Green Bay, Inc.has fully integrated Eterna software into its collection software.
This system automatically administers test questions on scheduled intervals that are manually chosen (i.e. every log-in attempt). It adapts to each employees knowledge level and targets their specific areas of weakness.
The three primary benefits of Eterna to Finance System of Green Bay, Inc. are:
- Reduction in our compliance management and training costs
- Improved regulation knowledge, ensuring complete compliance
- Improvement in our company’s proficiency
Eterna, which offers a solid answer to our compliance education, assessment concerns and retention will clearly and effectively address the requirement to train our staff and address their retention of critical compliance topics.
Divorce and Debt
Being that Wisconsin is a marital debt state; we come across questions from clients from time to time regarding who would be responsible for what in a divorce situation with divorce decrees.
If both parties are on a joint account and neither party contacts you to close the joint account prior to a divorce, both parties will remain responsible for charges that are incurred, even if the charges incurred after the divorce.
For example, if a couple recently divorced and they both had signed a loan to buy an automobile prior to the divorce, both parties would be responsible for paying on the loan. The loan the couple signed is a contract that binds all parties who signed it. In Wisconsin, despite a divorce decree, all parties would be responsible to repay that loan.
On the other hand, if only one party signed the automobile loan and the divorce decree stated that person was responsible to pay on the loan, the other party would still be responsible for the automobile loan but only to the extent of that party’s marital debt.
In the healthcare industry, debt is handled a little differently. Medical expenses are considered “necessary” in Wisconsin. Because of this, whether or not your spouse was on the account, they are still going to be responsible for any medical debt incurred during the marriage.
Again, despite what a divorce decree states, both parties will be held responsible for the full amount accrued during the marriage. However, any medical debt incurred after the divorce date, is the sole responsibility of that patient.
As a remedy in both situations, if one party is not paying their part of the divorce decree, the other party will sometimes inform the courts that the court order is being ignored and will file a claim to get that money back from their ex-spouse.
ClientConnect Webinar Sign-Up!
Don’t forget to sign-up for one of the ClientConnect webinars if you are currently using our Client Web Link or would like to get started with the new version, ClientConnect.
Please see the dates below and reply with which you would like to attend.
- Monday, January 27, 2014 at 10:00 a.m.
- Wednesday, January 29, 2014 at 2:00 p.m.
Annual Giving
Finance System of Green Bay, Inc. participated in the Adopt-A-Family program through the Salvation Army for the third year this past Christmas. Our staff pooled together and were able to shop for a deserving family in the area. The picture above shows what we were able to give to allow for this family to have a brighter Christmas season.
Upcoming Appearances
Wisconsin Credit Union League, Inc., Northeastern Chapter
January 23, 2014 at the River Country Club – Marinette
HFMA 2014 MEGA Conference
January 29-31, 2014 at the Kalahari Resort – Wisconsin Dells
Date Published: January 21, 2014
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Finance System of Green Bay, Inc.
301 N Jackson St. PO Box 1597 Green Bay, WI 54305 Toll Free 866-431-7220 Fax 920-431-7226 Stay Connected: Trusted Service, Proven Results
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Continuing Education and Compliance
With the arrival of increasing regulation in all industries we service, the need to educate, assess and focus on compliance on all levels at Finance System of Green Bay, Inc. is critical. Webinars, trade shows and industry association training aids were all resources used, in the past, to help educate our staff. Until recently, Finance System of Green Bay, Inc. had been researching to find the best, daily, resource available to fulfill this need.
After a lengthy process, Finance System of Green Bay, Inc.has fully integrated Eterna software into its collection software. This system automatically administers test questions on scheduled intervals that are manually chosen (i.e. every log-in attempt). It adapts to each employees knowledge level and targets their specific areas of weakness.
The three primary benefits of Eterna to Finance System of Green Bay, Inc. are:
Eterna, which offers a solid answer to our compliance education, assessment concerns and retention will clearly and effectively address the requirement to train our staff and address their retention of critical compliance topics. |
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Where Will We Be Speaking? Wisconsin Credit Union League, Inc., Northeastern Chapter January 23, 2014 at the River Country Club – Marinette Where Are We Going to Be? HFMA 2014 MEGA Conference January 29-31, 2014 at the Kalahari Resort – Wisconsin Dells |
Divorce and Debt
Being that Wisconsin is a marital debt state; we come across questions from clients from time to time regarding who would be responsible for what in a divorce situation with divorce decrees. If both parties are on a joint account and neither party contacts you to close the joint account prior to a divorce, both parties will remain responsible for charges that are incurred, even if the charges incurred after the divorce. For example, if a couple recently divorced and they both had signed a loan to buy an automobile prior to the divorce, both parties would be responsible for paying on the loan. The loan the couple signed is a contract that binds all parties who signed it. In Wisconsin, despite a divorce decree, all parties would be responsible to repay that loan. On the other hand, if only one party signed the automobile loan and the divorce decree stated that person was responsible to pay on the loan, the other party would still be responsible for the automobile loan but only to the extent of that party’s marital debt. In the healthcare industry, debt is handled a little differently. Medical expenses are considered “necessary” in Wisconsin. Because of this, whether or not your spouse was on the account, they are still going to be responsible for any medical debt incurred during the marriage. Again, despite what a divorce decree states, both parties will be held responsible for the full amount accrued during the marriage. However, any medical debt incurred after the divorce date, is the sole responsibility of that patient. As a remedy in both situations, if one party is not paying their part of the divorce decree, the other party will sometimes inform the courts that the court order is being ignored and will file a claim to get that money back from their ex-spouse. |
 ClientConnect Webinar Sign-Up!
Don’t forget to sign-up for one of the ClientConnect webinars if you are currently using our Client Web Link or would like to get started with the new version, ClientConnect. Please see the dates below and reply with which you would like to attend.
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| Annual Giving
Finance System of Green Bay, Inc. participated in the Adopt-A-Family program through the Salvation Army for the third year this past Christmas. Our staff pooled together and were able to shop for a deserving family in the area. The picture above shows what we were able to give to allow for this family to have a brighter Christmas season. |
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