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UK Commercial Debt Collection Laws & Regulations

Taurus Collect

Navigating the labyrinth of commercial debt collection laws in the UK can be daunting for businesses. This blog post aims to shed light on UK commercial debt collection laws and regulations. The Fair Trading Act : This law prevents businesses from using unfair tactics when they are collecting debts.

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Toll fine Debt Collection letters are ‘intimidating and misleading’

UK debt collections

Letters being sent by a Debt Collection Agency to drivers who fail to pail Tyne Tunnel fees are “initimidating and misleading” debt charities have warned. The Debt Collection letters advise of potential fines and even criminal convictions. The initial penalty is £60 on top of the original £1.90

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Data Protection is Critical in Debt Collection: GLBA, Consumer Trust, and Best Practices to Protect Your Business

True Accord

Let’s take a look at how the new updates to GLBA Safeguards Rule, how these security policies are important specifically for debt collection, and what best practices your business should follow to protect consumers’ data. It is not unusual for a company to file bankruptcy after a data breach.

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What is Credit Control and How to be a better Debt Collector

Debt Recoveries

Credit control is the process of overseeing and collecting payments that consumers or clients owe your company. To guarantee that everyone is on the same page with regard to payment expectations, clearly explain these terms to your consumers through written agreements or terms of trade documentation. or 1300 799 511.

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National Financial Awareness Day: Why Financial Literacy is Beneficial For Everyone

True Accord

August 14 is National Financial Awareness Day , making it an appropriate time to shine a spotlight on initiatives that can help improve consumer financial awareness in the collections space. Overall, lower levels of financial literacy end up contributing to increased rates of bankruptcy, defaults, and foreclosures.