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Banks hire 100’s of Debt Collection Agents ahead of Covid Loan repayments

UK debt collections

The UK’s leading High Street banks are strengthening their Debt Collection teams ahead of the emergency covid loan defaults. The UK’s four largest banks are said to have hired over 750 new Debt Collection staff to their debt recovery units in a major challenge facing them.

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The Workers Most Affected By the COVID-19 Pandemic

Account Recovery

As might be expected, customer service representatives, a category of workers that include collection agents, were among the hardest hit during the early days of the pandemic, according to research that was published by the Federal Reserve Bank of St.

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5 Ways to Reduce Your Debt and Avoid Collections

The Kaplan Group

If collection agents like me are calling you, you need to reduce your debt. To avoid your account being sent to collections, you need to find ways to reduce your debt. Collect on unpaid invoices. If others owe you money, send them to collections. Most reputable collection agencies work on contingency.

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Debt Collection & Business Credit

The Kaplan Group

Commercial collection agencies like ours specialize in collecting on B2B debt. If your business is getting calls from a collection agency, you may wonder how this will affect your business credit. Like personal debt, being sent to collections can affect your credit rating. If a collection agent calls you, don’t ignore it.

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How Was Your Digital Collections Experience in 2020?

Fico Collections

At the risk of stating the obvious, we can likely all agree that the pandemic has significantly accelerated the adoption of online and mobile banking. One area that is often left behind in digital transformation initiatives, but that has also been a focus over the last year due to uncertain economic conditions is collections.

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TrueAccord Featured in Aite Group’s Spotlight on Disruptive Fintech

True Accord

In a recent report by the Aite Group , TrueAccord was featured in the inaugural edition of the “Retail Banking & Payments Fintech Spotlight” , which highlighted disruptive fintechs with a strong focus on technologies that improve the customer experience. The key differentiator making TrueAccord an innovative fintech disruptor?

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Is Self-Service the New Standard in Debt Collection?

Re:Ceeve

Today, companies must think about the bigger picture by listening to customer needs, especially when it comes to debt collection. For years, companies have treated the debt collection process not as an opportunity, but as a relentless process of retrieving outstanding balances at all costs. Online banking. Knowledge hubs.