CICM

JULY 26, 2023

With customers facing increasingly difficult choices about who they can afford to pay, it’s vital to make sure that the first line of financial self-defence, credit control, is properly understood and working as intended. In this blog, we aim to explain the importance of credit control in Credit Management.

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Taurus Collect

MARCH 5, 2024

In the UK, an innovative approach offered by many a debt collector is the ‘no win, no fee’ model, providing a risk-free solution for startups to pursue owed money. This model not only alleviates the financial pressure on emerging businesses but also ensures that debt collecting in the UK becomes a more accessible process.

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Startups Collections Debt Recovery Collection Agencies 52

Taurus Collect

AUGUST 23, 2023

In the complex world of finance, debt collection remains a constant challenge. However, the landscape of debt collection has significantly evolved in recent years. The shift towards more empathetic, customer-centric approaches has revolutionised this field, creating beneficial outcomes for both parties involved.

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Taurus Collect

MAY 11, 2023

If you have ever had to deal with credit card debt, you know it can be stressful. Debt collectors call at all hours of the day and pressure is put on borrowers to quickly make payments in full. It’s important to understand how credit card debt collection works so that you can find the best way for your individual situation.

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Nexa Collect

JULY 19, 2020

In one of our previous blogs, Using a Revenue Recovery Service to Recover debt , we discussed the risk undertaken by a business extending credit to another business, or consumer, by providing services in exchange for a promise of “due and proper consideration”.

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Accounts Receivables Management Collection Agencies Collections Agency Creditors 130

Taurus Collect

MAY 18, 2023

Late payments can be a significant problem for any business, and when it comes to collecting unpaid invoices the situation can become difficult. It is important to know when the best time might be to escalate an invoice from your internal collection process and hand it over to professional debt collection services.

Collections 52

Collections Collection Agencies Collections Agency Legal Rights 52

Taurus Collect

MAY 18, 2023

When managing your business’s accounts receivable, there are many important considerations. One such matter that may arise is whether or not to send someone to collections. Do Understand the Collection Process When understanding the collection process, knowledge is power.

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Taurus Collect

AUGUST 15, 2023

Navigating the intricate world of debt collection can be a challenging task for businesses of all sizes. That’s why outsourcing debt collection services , particularly in key areas such as Manchester, can be the game-changer your business needs.

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True Accord

JANUARY 10, 2024

If you’re a creditor or collector working with financially distressed borrowers, considering consumer situations against the economic landscape and accommodating their financial needs and preferences when collecting is critical to your success. What’s Impacting Consumers and the Industry? Headline PCE fell 0.1% in November and was up only 2.6%

Student loans 58

Student loans Student Loans Loans Banks 58

Taurus Collect

JUNE 12, 2023

For business owners, one of the most dreaded aspects of running a successful company is what happens when customers fail to make timely payments. Thus, debt collection agencies are commonly utilised to ensure that funds due back to businesses don’t go unpaid.

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Fico Collections

MAY 2, 2023

Customers are always front and centre of business decisions and robust processes have been well-established. However, it's also undeniable that there is often an alignment between consumer expectations and what will help to achieve better performance for a financial service organisation.

Financial services 52

Financial services Banks Lender Collections 52

Fico Collections

SEPTEMBER 19, 2022

Debt Collections on Tenterhooks with Six and Sevens following CFPB’s Reg F. It's an opportunity to improve the way you interact and engage with your customers. These rules require the debt collectors and recoveries staff to—if non-complaint—make significant changes on how and when they can communicate with debtors.

Collections 52

Collections Debt collector Financial Institution Banks 52

True Accord

SEPTEMBER 17, 2022

Debt collection is highly regulated and must adhere to different regulations and laws like the FDCPA, Regulation F, and unique state laws—including regulations that may not be specifically focused on debt collection but still apply to the practice. What are the key elements to create a compliance strategy for collections?

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Collections Debt collector Government 79

True Accord

MARCH 25, 2021

Recent regulatory activity makes it clear: regulators care as much about consumer preference in debt collection as creditors. In this blog post, Kelly Knepper-Stephens, TrueAccord’s VP Legal & Compliance, highlights the recent laws and regulations designed to protect consumer preferences in debt collection.

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Creditors Collections Fair Debt Collection Lender 96

Taurus Collect

SEPTEMBER 18, 2023

When it comes to managing international collections, one key aspect that often stands as a challenge for businesses is international credit checking. Ensuring the creditworthiness of international clients is vital to prevent financial losses and enhance the efficiency of your collections process.

Collections 52

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Taurus Collect

JUNE 15, 2023

Are you a business owner struggling to properly manage accounts receivable and collect past-due payments? It’s no surprise that debt collection is an increasingly competitive field, so understanding and leveraging the right tools could give your company the edge it needs.

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Collection Agencies Collections Agency Collections Debt collector 52

Re:Ceeve

JUNE 12, 2020

At the heart of any successful company are happy customers. Without the right care and dedication towards providing excellent customer service, you’ll haemorrhage money through increasing customer churn. It only takes one bad experience for a customer to jump ship to one of your competitors. Knowledge hubs.

Collections 91

Collections Acquisition Retrieval Collection Agent 91

Fico Collections

DECEMBER 13, 2022

Digital Collections: 7 Things That Can Make You More Successful. Digital collections isn't a new concept, but it has taken on additional relevance in the current economic environment. This story of digital collections starts with Steve Jobs. This story of digital collections starts with Steve Jobs. FICO Admin.

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Better Credit Blog

NOVEMBER 3, 2020

Have you been receiving threatening calls and letters from a company called Advanced Collection Services? You likely have an old debt hanging over your head that they are trying to collect payment on. The problem is that sometimes they get information wrong and try to collect the wrong amount or from the wrong person.

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True Accord

OCTOBER 20, 2022

Just as technology has evolved leaps and bounds, so have consumer communication preferences with that technology, especially when it comes to debt collection. So in 2021, the Consumer Financial Protection Bureau (CFPB) rolled out Regulation F under the existing Fair Debt Collection Practices Act (FDCPA).

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Fair Debt Collection Debt collector Lender Collections 82

Taurus Collect

MAY 11, 2023

If you have a credit or debt-related problem, it’s likely that a debt collection agency could come into the picture. That’s why understanding the resources these agencies can access to find you is so important. That’s where debt tracing services step in.

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Collection Agencies Collections Agency Debt collector Collections 52

Fico Collections

FEBRUARY 1, 2023

But among the critical learnings from the 2008 global financial crisis was the importance of flagging and helping at-risk and pre-delinquent borrowers as soon as possible to prevent financial disaster — especially when their deteriorating financial position was being influenced and undermined by a mix of external factors.

Lender 52

Lender Credit Bureau Collections Acquisition 52

Debt Recoveries

JUNE 25, 2023

There are several obstacles that business owners must overcome in order to operate a successful company in Australia, and one of the most typical of these is debt collection. Although giving consumers credit is important for organisations, dealing with unpaid bills and late payments can negatively affect cash flow and impede growth.

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Fico Collections

JANUARY 24, 2023

FICO’s latest market report of UK card trends suggests that consumers managed their credit card debt to keep lines of credit open for the festive season as spend increased month on month. percent in November, suggesting continued pressure on disposable income and personal finances Customer accounts missing one payment dropped by 4.2

Lender 52

Lender Credit Card Debt Debt Management Financial services 52

Better Credit Blog

SEPTEMBER 9, 2020

If you have been contacted by Sunrise Credit Services, you are probably being pursued for an old debt. Sunrise Credit Services is a debt collector that has been hired by your old creditor to collect payment on your debt. They may also have purchased the debt to profit off your payments.

Debt collector 101

Debt collector Collections Loans Creditors 101

Taurus Collect

APRIL 3, 2023

Managing international debt recovery is complex, and it’s important to know the laws of each country to do so successfully. This blog post will break down everything companies outside of the UK need to know before recovering debts from British residents or businesses.

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Fico Collections

NOVEMBER 30, 2022

The financial institutions who will thrive now are the ones who would have learned from their experiences over the pandemic and prepared themselves for the current challenge of looming inflation – including its impact on their customers and portfolios. Top 3 Actions for Delinquency Management Alleviating Inflation Concerns. FICO Admin.

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Fico Collections

JANUARY 27, 2021

In my series of posts on the disruption caused by the pandemic to financial services customers in the UK, and the impact on debt collection communications, I have explored: How this disruption affected customers’ ability to get in touch with their provider at a critical moment in time, using data from the FICO and Censuswide customer research.

Collections 52

Collections Financial services 52

Fico Collections

JUNE 16, 2022

Meeting Debt Collection Challenges Amid a Squeeze on Income. In order to deal with the rising cost of living and other challenges, anyone managing collections portfolios and effective debt recovery strategies needs these capabilities. As with most walks of life it also applies to effective debt collection.

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Fico Collections

JANUARY 6, 2021

Posts dealing with debt collection were among the most popular on the FICO Blog last year, for obvious reasons. They also offered perceptive tips for dealing with what they dubbed the “debt tsunami.”. Debt Collection And Covid-19: What Past Crises Can Teach Us.

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Fico Collections

JANUARY 19, 2023

While UK support will continue through 2023, and possibly into 2024, we can expect to see it provided on a more targeted basis as governments face rising debt burdens as a proportion of GDP. It’s a move typified in the UK by the launch of the FCA’s Consumer Duty , which reinforces a host of customer safeguards.

Banks 52

Banks Financial services Government Collections 52

PDC Flow

DECEMBER 1, 2022

Every debt collector knows the struggle of getting consumers to answer their phones. But you need to collect certain key metrics to know these new tactics are working. Collecting and analyzing your data will help you understand how your business is performing and forecast future engagement and revenue.

Collections 86

Collections Financial services Debt collector 86

Taurus Collect

DECEMBER 18, 2023

An inevitable part of this financial management is the realm of commercial debt collection. In this blog post, we will delve into the tips and strategies that will help you navigate commercial debt collection effectively. No Win, No Fee: This model offers risk-free debt recovery.

Collections 52

Collections Debtor Debt Recovery Collection Agencies 52

Fico Collections

SEPTEMBER 7, 2022

Even in a Crisis, the Best Collections Strategy Is to Avoid Collections. With as much as 50% of consumers experiencing financial difficulty soon, it's time to review your early and pre-collections strategy and processes. IFRS9, Collections Strategy, Delinquency and Risk. FICO Admin. Tue, 07/02/2019 - 02:45.

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CICM

JULY 7, 2023

So, it’s worth investing in your company’s most important asset – its people. In today’s Credit Management and Collections industry, teams are faced with new challenges. In this blog, we’ll dive into how training credit and collections teams is also important and beneficial for your organisation’s output.

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Collections Credit Management 40

Fico Collections

NOVEMBER 3, 2022

Debt Collection: Have We Learned the Lessons of the Last Crises? While the current series of economic shocks may seem "unprecedented", there are clear lessons from past crises that should shape our collections strategies today. Four Key Collections Factors Shaping Analytic Insights, Strategy, Policy and Execution.

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Collections Creditors Debt Consolidation Debt Recovery 52

Payment Savvy

JANUARY 7, 2021

A recent study conducted by Pew Charitable Trust revealed that 8 out of 10 people in the United States live in debt. Similarly, when customers fall behind on payments, it poses significant challenges for both the consumer and the business. Providing good customer service shouldn’t stop when an individual has fallen behind on payments.

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