article thumbnail

How Do Debt Collection Companies Operate?

Taurus Collect

The debt collection process involves recovering debts from the borrower who has initially failed to repay or recover payments on accounts that are past their due date. When asked about “what collection agencies do?”, Debt collection varies depending on the company collecting the debt. The Process.

article thumbnail

Signs That You Need a Commercial Debt Collection Agency Urgently

Taurus Collect

In such circumstances, resorting to a commercial debt collection agency becomes not just an option, but a necessity. A popular choice among UK businesses is a “ No Cure No Pay ” debt collection service. This model ensures that you only pay if the agency successfully retrieves your debts.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What Is a Debt Collector and Why Are They Contacting Me?

Taurus Collect

Simply put, it’s an individual or a debt collection agency in the UK employed by a creditor to retrieve funds that are overdue. Let’s take a closer look at the role of debt collection agencies and what your rights are when interacting with them. So, what exactly is a debt collector? What Is a Debt Collector?

article thumbnail

The Limits On Direct And Vicarious Liability Under The FDCPA

FDCPA Defense

For example, generally speaking, the Act applies only to “debt collectors” who regularly attempt to collect debts that are “due another.” Retrieval Masters Creditor Bureau, Inc. , 2008) (sole member of LLC may be held liable under FDCPA if he plays a significant role in directing the firm’s debt collection activities).