Larry Dokes’s EasyPay billing company pioneered the electronic funds transfer (EFT) in the early 1990s. Larry was an early mentor of mine and has helped me a great deal. Based in Belton, Texas, EasyPay specializes in smaller schools in smaller markets. EasyPay offered a non-contract solution that automatically withdrew students’ tuition from their bank accounts. This took most of the monthly decision of who to pay out of the students’ mind since the tuition was automatically paid.
EasyPay made a good argument that schools who do hard collections for unused lessons are creating big problems for the entire industry that might even lead to government regulations. I agree. While some soft collection is fine for agreements, moving to the point of hard collections – especially where the student’s credit is negatively affected – is not usually a good idea for your reputation or that of our industry. Teaching better classes is a more productive way to invest your time and energy than hammering students you were not able to keep.
The original appeal of the EFT was that, if a student were going to drop out and not pay anyway, why put him on contract in the first place? Use an EFT and get paid automatically each month. That strategy has worked for many schools and still does, but I doubt it works as well as a cash out or an agreement. (more…)
The Fair Debt Collection Practices Act (FDCPA) is a section of the US Consumer Credit Protection Act. The intent of the law is to stop debt harassment. It was added to the Consumer Credit Protection Act in 1978. The FDCPA limits how collection agents conduct business and defines consumers’ rights in dealing with bill collectors. It also assigns penalties and remedies for when they violate these rights.
First, the FDCPA limits the ways that bill collectors can contact people. It is illegal to call before 8 am or after 9 pm. It is also illegal to call places of employment after being told that the employer doesn’t allow it.
Collection agents must begin their contact with a consumer in a particular way. They must identify themselves as bill collectors and say that they will use any information they obtain in collecting the debt. They must also inform consumers that they have the right to dispute the debt.
Upon receiving notification of the right to dispute the debt, the consumer may request verification of the debt within 30 days. The bill collector’s response must contain the amount owed and the creditor’s name and address. (more…)
The Fair Debt Collections Protection Act (FDCPA) was passed by Congress in 1977. Its purpose is to protect debtors from dishonest and abusive debt collection procedures. The act is enforced by the Federal Trade Commission (FTC). It covers almost all types of personal debts, including mortgages, car loans, credit card debt, and medical bills.
The FDCPA limits what debt collection agencies can do in order to collect a debt. These agencies may not lie, threaten, purposefully annoy, or disclose personal information about a debtor. However, some collection agencies will view these actions as a calculated risk. Since many people don’t know their rights, bill collectors sometimes get away with these violations. (more…)
Many people are feeling a crunch on their wallets these days – expenses are going up, but the money coming in is not. People don’t know what to do – yet each year there’s approximately $300-$460 billion in free government grants; most people don’t know about these grants, and continue to linger in financial uncertainty. These grants are available to do anything from paying off debt, going to school, or starting a new business. Best of all, these are not loans, so you don’t need to repay them. So how do you get access to this money?
There is no easy way to get grants on your own. You have to do a lot of searching around online, and find grants that are suitable for your specific needs. However, there are quite a few online “grant money kits” available that make your search a lot easier. Most kits include the same information: a CD to get you started, resources for thousands of different grants, and help filling out the application. While the grant kits help greatly in making the application process simple, don’t expect receiving thousands of dollars simply by purchasing a kit.
Some people question whether these kits actually work, and with good reason. Why would the government be willing to simply hand out free money? To put it simply, the money promised through grant kits is money budgeted by the government through various programs and incentives. They are legitimate sources of money, and can usually be obtained for under $5 (you pay only for the shipping and handling). (more…)
Government grant information that is accurate and informative is vital to receiving or securing a grant. Many people fail to secure government grants, even ones they may be qualified for, because they do not understand how the grant application process works. Now you can learn the real secrets and methods of applying for government funding. This government grant information will give you a tremendous advantage!
The vast majority of people who apply for a grant will not receive it, simply because they did not know how the process works. This site will show how and where to find the government grant information you need to successfully apply for a grant. But first let’s look at what you need to avoid in searching for government grant information, it will truly save you a lot of heartache!
What to avoid;
Don’t be fooled! If someone is offering you free money, run away! Almost every single organization offering free money is a scheme. Don’t take my word for it, just go read consumer reports. Also if you are asked to pay money upfront for a grant, run away. This will not be a legitimate offer. If they are asking for personal account or family information, don’t respond. If someone calls you claiming to be from the government, don’t respond. In a nut shell, there are a lot of dishonest groups on the internet, be careful. (more…)
In a market, where customer service is everything can you afford unhappy customers?
Picture a banking scenario: Your institution handles thousands of transactions every second. Transactions start bottling up at a certain server, but you don’t know there’s a problem, until you start receiving trouble tickets from customers wondering where their money is. Guaranteed-you won’t have one trouble ticket; you will have thousands. And each one of those trouble tickets costs money-salaries for the staff handling the problem and potential loss of a customer. The later in the process the ticket comes the more expensive it may be to resolve it.
Picture a manufacturing scenario: Your business produces thousands of customized electronic products every day. You make your money by automating your entire system-incoming order processing, manufacturing, shipping, etc. If any one of these processes breaks down, productivity grinds to a halt. It’s possible to lose millions in revenue in one day from the combined costs of lost output and cost of repairs. (more…)
Everyone is familiar with the ATM. The word “ATM” is the short term for Automated Teller Machines. Nearly every financial institution provides the convenience of an ATM to its customers at no cost and to visitors for a modest fee. The automated cash computer is well known for accessing accounts to view balances, to make deposits and withdrawals to your bank account, and to make cash advances with credit cards. The device allows secure financial transactions.
The computerized machines are located in banks, convenience stores, department stores, shopping centers, malls, grocery stores, gas stations, and restaurants. There are stand alone stations that allow you to drive up and complete financial transactions without ever leaving the safety of your car. You can find mobile Automated Teller Machines installed in vans. Small business owners welcome them into their establishments because potential customers can access their accounts to withdraw more money to spend.
ATM machines are interconnected to allow anyone with a bank card, debit card, or credit card to have access anywhere in the world. Each station is connected to an interbank network such as PULSE, PLUS, Cirrus, and LINK to name a few. (more…)
Most people could use extra cash. Whether to pay for urgent car repairs, clothes, college tuition, or to meet the family budget, a few extra hundred dollars may make a world of difference. A lot of people have scrap gold within their homes – or in storage – that has completed slipped their minds. If sold at a reasonable price, it can provide financial breathing room.
The price of gold has risen dramatically over the last decade. Investors have been stocking up, which has further accelerated the price. If you own scrap gold, this may be the time to consider selling. Below, we’ll define what scrap gold is and explain how you can sell it. We’ll also explore how to evaluate quotes and ensure the entire transaction is a smooth one.
Scrap Gold Defined
Anything that contains an element of gold can be defined as scrap gold. For example, necklaces, watches, rings, and bracelets can be defined as such. Earrings, coins, pins, and even fillings can also be defined as scrap. Many of these items collect over the years and are forgotten by their owners. This is unfortunate; at today’s prices, they can easily be sold to generate valuable cash flow. (more…)
You may be ready to decide which risk management certifications to look for or which ones you will ensure that certain existing associates complete. Before you do this, it’s a good idea to examine your organization in relation to each individual certification. Look at the factors that affect your organization and determine which certifications will be closely aligned with those factors. Then, consider some of the overall benefits your organization can gain from risk management certifications.
To begin with, look at the technical and functional specifications of each certification. For example, if you are not an energy related industry, you probably would not need the ERP certification from GARP. Of course, that’s an easy distinction to make. The PRM and FRM certifications, although they come from different organizations, are very similar. It may be necessary to do a further analysis on the exact technical and functional specifications of each certification to see which one matches your organization more closely. You may also need to look at where your organization is in terms of its own position and its own recognition within the industry. For example, if you are looking for a very high standard of recognition and cross-utilization when it comes to your certification, you may want to consider the PRM. If not, either one would most likely work. (more…)
Historical Facts
The Glass-Steagall Act of 1933 established the Federal Deposit Insurance Corporation (FDIC) and became effective on January 1, 1934 for the purpose of banking reform. It was created in response to the stock market crash when people lost everything they had. Encouraging people to start saving again and to build confidence in the American banking system, this act set more stringent capital requirements and provided depositors with insurance on their deposits beginning at $2,500 worth of coverage. Today, depositors have $100,000 coverage on their deposits per account. The Glass-Steagall Act also banned any connection between commercial banks and investment banking for the purpose of preventing market speculation and causing future banking failures.
Two separate laws became known as the Glass-Steagall Act and both bills were sponsored by Democratic Senator Carter Glass from Lynchburg, Virginia, and a former Secretary of the Treasury, and Democratic Congressman Henry B. Steagall of Alabama who was also the Chairman of the House Committee on Banking and Currency. (more…)
