True Accord

SEPTEMBER 12, 2023

If your business and collection partners aren’t utilizing email in your debt recovery strategy, you’re leaving vital engagement opportunities (and potential collections) on the table. If you lose your customers’ trust, you’re most likely going to lose the chance to recover their debt. Surveys show that 59.5%

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Taurus Collect

FEBRUARY 1, 2024

Dealing with unpaid debts can be a challenging aspect of financial management both for businesses and individuals. That’s where a debt collections service steps in—a critical intermediary that takes on the task of pursuing delinquent accounts to ensure that owed funds are recovered.

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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). This blog is not legal advice.

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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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Taurus Collect

OCTOBER 30, 2023

Navigating the financial maze of unpaid debts can be a daunting task for any business. When customers default on their payments, it can have a significant impact on your cash flow and overall business health. This lack of engagement could be due to their inability to pay, disregard for the debt, or they might be buying time.

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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. It’s even more daunting when your focus should be on running and growing your business rather than chasing overdue payments. Let’s dive in and explore why this might be the smartest business move you can make.

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Taurus Collect

AUGUST 15, 2023

Navigating the complex world of debt collection can be a challenging task, especially when success rates are not always guaranteed. However, adopting a ‘No Cure No Pay’ approach to debt collection in the UK can significantly alter this landscape. Remember, the goal is not to intimidate but to cultivate understanding.

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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. A thorough credit agreement helps to establish expectations up front and offers a solid framework for recovering debts in the event of non-payment. #2

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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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American Profit Recovery

DECEMBER 4, 2020

The right agency will help you get back on track as well as help your customers find a solution to their ongoing debt. They should be available to you during normal business hours and be ready to answer any questions or concerns that come up. One of the challenges of collecting debt is when consumers move. Be flexible.

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Hudson Weir

MARCH 8, 2024

Understanding the fiduciary duties of directors Director fiduciary duties encompass several key aspects. Part of your company director duties during insolvency is to avoid taking on any further debts and ensure that you continue keeping good records. We hope you found this guide useful – for more, take a look at our blog.

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True Accord

FEBRUARY 17, 2022

Measuring the success of a recovery strategy goes beyond just the dollars and cents recovered. Yes, the goal of a recovery operation is to maximize profitability by efficiently recovering money lent to consumers, but other key factors — like consumer experience and retention — are also important in evaluating the success of your business.

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Taurus Collect

MAY 11, 2023

This blog post will provide an in-depth look at when and how you can send a non-paying tenant to collections. Understand the Laws and Regulations Surrounding Non-Paying Tenants As a property owner or manager, dealing with non-paying tenants can be a frustrating and time-consuming process.

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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. by Bruce Curry.

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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”. A human touch pays off.

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Fico Collections

DECEMBER 13, 2022

McKinsey has echoed our industry forecast, writing recently that digital is becoming best practice for collections and recovery. At a very basic level, automating customer engagement for collections is about understanding who should be contacted and with what intensity. Understand what’s working and what’s not. FICO Admin.

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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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CICM

JULY 11, 2022

In our latest blog, the Menzies LLP Creditor Services team looks at what we should do when dealing with our aged debtor list. Understand the client’s sector. What has Menzies done to improve recoveries? Prompt escalation of any issues where bad debt is apparent. Prompt escalation of any issues where bad debt is apparent.

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CICM

SEPTEMBER 15, 2023

In this blog, we will look at what Debt Collections is and why it is so important. What is Debt? Debt is money owed to another. This debt could be unpaid bills or invoices for goods and services, repayment of a financial service or money loan, or overdue sums for a range of obligations such as fines, taxes and rent.

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CICM

JULY 26, 2023

In today’s business environment, uncertainty is one thing we can take for granted. Soaring prices caused by high inflation and a tightening lending market all serve to put pressure on household and business finance alike. In this blog, we aim to explain the importance of credit control in Credit Management.

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CICM

SEPTEMBER 3, 2021

Twelve months later, creditors have resumed issuing claims; Registry Trust Q2 data shows business judgments up by 59% and consumer judgments up by 267%. We are working more closely with clients than ever before to understand how they want their judgments enforcing, particularly high-volume clients who had suspended enforcement last year.

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Fico Collections

SEPTEMBER 19, 2022

Debt Collections on Tenterhooks with Six and Sevens following CFPB’s Reg F. Consumer Financial Protection Bureau (CFPB) announced the final rules interpreting the Fair Debt Collections Practices Act (FDCPA) on July 30, which went into effect on November 30, 2021. Reg F isn't a hurdle to adjust to and live with. Embrace it. FICO Admin.

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True Accord

NOVEMBER 20, 2023

Both the federal and DC laws permit debt collectors to communicate digitally about a consumer’s account as long as the digital communications contain clear and conspicuous opt-out language with strict penalties for failing to abide by the opt-out provisions.

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Better Credit Blog

SEPTEMBER 8, 2020

If you begin to hear from a debt collection agency called Pioneer Credit Recovery, it is likely because you have defaulted on a loan or forgotten to pay a bill. For an in-depth guide on Pioneer Credit Recovery and how to get rid of them on your credit report, check out our article below. What Is Pioneer Credit Recovery?

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Fico Collections

JANUARY 19, 2023

The combination of events prompted unprecedented levels of financial support being provided by governments around the world to both individuals and businesses to enable them to survive the economic consequences. Every individual and business are different, with their own personal inflation level based upon respective spending and debt levels.

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PDC Flow

AUGUST 17, 2021

It takes attention, time and patience to find the right system for the type of debt you’re collecting. In a recent webinar, “Developing the Optimal Workflow for Your Collection Process,” by Accountsrecovery.net , three debt collection experts discussed ways to adjust your systems, where to look for improvements and how to analyze the results.

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Better Credit Blog

DECEMBER 29, 2020

Millions of Americans have debts in the collection stage. If you have heard from a company called TRS Recovery Services, you are not alone. It can be stressful to deal with a debt collector. In our guide below, we will break down everything you need to know about TRS Recovery Services. About TRS Recovery Services, Inc.

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Better Credit Blog

JULY 13, 2020

Are you getting harassing phone calls and letters from a company called Nationwide Recovery Service? If you are, it is because they are trying to recover a debt that you have with another company. Nationwide Recovery Service will also appear on your credit report as a collection agency, which can damage your credit score.

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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. One way they do this is by reviewing your credit report.

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Fico Collections

NOVEMBER 30, 2022

While the financial services industry would welcome the growth, the concern is that the share of debt transitioning into delinquency is also showing an increasing trend. Graph 1 : Quarterly credit card debt in the United States from 1st quarter 2010 to 2nd quarter 2022 ($ Billion) . FICO Admin. Thu, 08/22/2019 - 12:37.

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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.”. They also offered perceptive tips for dealing with what they dubbed the “debt tsunami.”.

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Re:Ceeve

JUNE 12, 2020

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. It can be anything from: Blogs like ours.

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Hudson Weir

JUNE 30, 2021

A trade sale is a term used to describe the sale of a business, usually to another company in the same sector. There are lots of formats this sort of transaction might take, such as: Sale of the company shareholding Retail of business assets, including stock or premises Purchasing an insolvent business.

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The Kaplan Group

FEBRUARY 21, 2022

It’s always exciting to land a new client, but when that client does not pay you and the debt adds up, excitement turns into anxiety and disappointment. We all know managing a business and the cash flow process is a financial pain point. Commercial collection agencies are experienced professionals in business debt collection.

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Jimerson Firm

FEBRUARY 10, 2022

When account owners have an account that reflects a negative balance, the lender is faced with a myriad of options and obligations with regard to the pursuit of that debt. Charging Off” Uncollectable Debt. As a result, a loan that is charged off is written off and deemed a loss of principal and interest. See Caplinger v.

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Better Credit Blog

AUGUST 7, 2020

If you have been contacted by a company called Professional Finance Company, you are probably being pursued for an old unpaid debt. Having a collection account on your credit report for an unpaid debt can damage your credit score for up to seven years, even after you pay it. Understand Your Rights. Request Debt Validation.

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Fico Collections

JUNE 21, 2021

Since March 2020, the impact of COVID has also influenced spending patterns, payment rates and delinquency levels across revolving bankcard debt. Follow my blogs to stay current with unique FICO data and reach out for guidance on how to adapt your own credit strategies. Unemployment and Consumer Behavior. by Jill Deckert.

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