contact birmingham Debtor Related Topics 
Taurus Collect
JULY 17, 2023
As a business owner, knowing how to effectively manage your debtors is essential when it comes to staying on top of financial transactions. That’s why we’ve put together this comprehensive guide to debtor tracing in the UK – to make sure you’re up-to-date with all relevant information!
Taurus Collect
OCTOBER 30, 2023
Establishing Contact with the Debtor The first step in the debt collection process is establishing contact with the debtor. This often involves several key actions: Initial Communication: A business or a debt collection agency, like a debt collection agency in Derby, will send a letter of demand to the debtor.
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Taurus Collect
FEBRUARY 1, 2024
A debt collector might sound like a character from a Charles Dickens novel, but if you’ve been contacted by one, you know they’re very much a reality of modern financial life. Why Are They Contacting Me? Your Rights : As a debtor, you have rights that you can and should exercise. So, what exactly is a debt collector?
Taurus Collect
JULY 17, 2023
Skip tracing, also known as ‘debt collection skip-search’ or simply a ‘skip search’, is a process used by debt collectors to locate and contact those individuals who have gone to great lengths to avoid being found. It can be an incredibly effective collection tool for finding missing debtors.
Taurus Collect
NOVEMBER 15, 2023
Notification: The agency then contacts the borrower, often via letters and phone calls, to inform them of the outstanding debt. They can’t harass debtors or act unfairly. Communication: The agency is allowed to contact the debtor to discuss the debt, usually through letters or phone calls.
Taurus Collect
FEBRUARY 1, 2024
Understanding the Debt Collection Process The debt collection process typically initiates once a creditor concludes an account is non-performing, meaning the debtor has missed payments for several months. Payment Plan Negotiations : Collectors will often try to work out a payment plan or settlement agreement with the debtor.
Taurus Collect
AUGUST 15, 2023
Research Before Calling Before initiating a collection call, it’s essential to gather all necessary information about the debtor. This includes the history of the debt, previous communication records, and the debtor’s personal or business situation. A cooperative debtor is more likely to lead to a successful collection.
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