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What Is a Debt Collector and Why Are They Contacting Me?

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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. Simply put, it’s an individual or a debt collection agency in the UK employed by a creditor to retrieve funds that are overdue.

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What Are the Crucial Steps in the Debt Collection Process?

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However, understanding the crucial steps in the debt collection process can empower businesses to retrieve owed money efficiently and legally, thus enhancing their financial health. Establishing Contact with the Debtor The first step in the debt collection process is establishing contact with the debtor.