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

UK debt collections

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. It is expected there will be a tidal wave of defaults on the loan repayments as Businesses struggle to cope in the aftermath of the pandemic.

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What Are The Common Problems Faced by the Debt Collection Agents?

Taurus Collect

Thus, timely debt collection is crucial for every business. Moreover, debt recovery is directly associated with your credit score. Therefore, it is vital to have a robust debt collection strategy to enable you to stabilise your cash flow and acquire money from your debtors without hampering your business relationships.

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How to Collect Debts in Preparation for EOFY

Debt Recoveries

Recovering unpaid debts can be a time-consuming and expensive process, which often requires expertise and the right tools that most companies lack. As a debt collection expert, it’s evident that outsourcing debt recovery to a professional debt collection agent has become increasingly popular among smart companies.

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What International Companies Should Know Before Recovering Debts in the UK

Taurus Collect

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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6 Quick Steps to Increase Cash Flow and Reduce Debt

Debt Recoveries

Hi, my name is Adam Stewart, Debt Collection Expert and owner of Debt Recoveries Australia.I Charge interest and a recovery fee and make sure this is made clear on your credit application forms and on each invoice. Get your collection agent to conduct a credit report on potential clients.

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Toll fine Debt Collection letters are ‘intimidating and misleading’

UK debt collections

Guidelines on debt recovery letter phrasing warn against using “potentially misleading” words such as “enforcement” in trading names so as not to deceive debtors.

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Personal Director’s Guarantees: Increase Your Chances of Recovery and Reduce Debt

Debt Recoveries

Hi, my name is Adam Stewart, Debt Collection Professional and owner of Debt Recoveries Australia and ADC Legal-Litigation Lawyers. Personal guarantees are the holy grail of debt recovery tools as it makes a certain party liable for the outstanding debt, even if the company or entity has become insolvent.