Daily Digest – October 24. Appeals Court Rules Plaintiff Can Sue Even Though He Denied Owing Debt; Data Reveals Americans May Not Be As Interested As Paying Debt As They Say They Are

The Daily Digest is sponsored by Beam Software. A Microsoft Gold Certified Partner, Beam is a thought leader in portfolio management and collection software. They offer both cloud-based and on-premise solutions to accommodate the entire collection continuum. For more information, please visit www.beamsoftware.com or call (800) 212-2326.

 

APPEALS COURT RULES PLAINTIFF CAN SUE EVEN THOUGH HE DENIED OWING DEBT

• When can a consumer sue a collection law firm for allegedly violating the Fair Debt Collection Practices Act, even when he claims the debt is not his own? When the collection law firm sues him first, according to the Seventh Circuit Court of Appeals, which last week overturned a lower court’s dismissal of the case.

 

DATA REVEALS AMERICANS MAY NOT BE AS INTERESTED IN PAYING DOWN DEBT AS THEY SAY THEY ARE

• People might not be telling the truth about their financial goals, looking at a report issued by Northwestern Mutual, which surveyed people about their financial planning and how they are progressing toward reaching their financial goals.

 

AMERICANS SPENDING MORE ON HEALTHCARE, AND IT’S HURTING POOR FAMILIES THE MOST

• Americans continue to spend more of their own money on healthcare expenses and that dynamic is especially problematic for individuals who make the least amount of money, according to a report issued by the JPMorgan Chase Institute.

 

TWO-IN-FIVE SAY THEIR FINANCES ARE BETTER THAN TWO YEARS AGO, BUT DATA SKEWED TOWARD CERTAIN DEMOGRAPHICS

• More than twice as many individuals are doing financially better now than they were two years ago compared with those who are doing worse, but about half of those surveyed by Bankrate.com are doing the same, according to a report published today.

WORTH NOTING: Someone in South Carolina is a lot richer tis morning … McDonald’s is raising the price of its Happy Meals, and at the same time adding more meat to its breakfast menu  … Reviewing the new iPhone XR … An app to help you stop buying bottled water … Target is offering free two-day shipping for the holidays … Don’t believe everything you hear about the migrant caravan … The only job where women get paid more than men … How to achieve long-term happiness.

We’re going to talk about the anchoring effect during today’s webinar

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The Daily Digest is sponsored by Beam Software. A Microsoft Gold Certified Partner, Beam is a thought leader in portfolio management and collection software. They offer both cloud-based and on-premise solutions to accommodate the entire collection continuum. For more information, please visit www.beamsoftware.com or call (800) 212-2326.