June 26, 2017 Newsletter
Client Web Link Update
Our updated client portal, ClientConnect and Collaboration Center, has become a hit with our clients! Many clients have migrated over to ClientConnect to utilize the new features like secure messaging and secure transfer of documents along with utilizing improved functions of listing accounts, reporting payments and review of reports.
As more and more features become available in ClientConnect, the functionality of the old Client Web Link is sure to be limited.
Therefore, on 12/31/2017, Finance System of Green Bay, Inc. will no longer support the old Client Web Link. If you are currently utilizing the old Client Web Link, you will have to contact our office, before 12/31/2017, to be set up with a login to ClientConnect so that you may still have online access to your accounts after that date.
Any current client that would like to convert to ClientConnect and Collaboration Center, please contact Jennifer at jennifer@fsgbcollections.com.
Siding with Caution against Supreme Court’s ruling on Time-Barred Bankruptcy Proof of Claims
On May 15, 2017, the U.S. Supreme Court ruled, on the case, Midland Funding, LLC v. Johnson, that debt collectors can file proof of claims on accounts that are past the statute of limitations, without violating federal law.
The court’s ruling held that “filing a proof of claim that is obviously time barred is not a false, deceptive, misleading, unfair or unconscionable debt-collection practice within the meaning of the Fair Debt Collection Practices Act.”
This has left Finance System of Green Bay, Inc. and other industry leaders scratching their head and worry this may be the subject of future litigation.
Therefore, we will continue to follow our office policy, on this matter. Once an account is past the statute of limitations, it is written off, in our system. Even if the individual files for a bankruptcy, we will not re-open the account that is past statute, to file a proof of claim.
If your office would like to follow the ruling of the Supreme Court, we advise to first speak with your attorney, prior to filing a proof of claim against an account that is past the statute of limitations.
Credit Bureau Reporting Update Reminder
This is another friendly reminder that come September, the three major credit reporting agencies, Equifax, Experian and TransUnion will all require a full name and address to be able to report an account.
In addition, they are requiring the individual’s social security number and/or date of birth to be able to report an account..
So, what can you do to help make sure accounts can be listed with the credit bureau? Visit our past blog to find out!
Thought Box
“Throw an idea into the world, and its impact will ripple and reverberate beyond your side of the shore.”
– A.E. Samaan
