Council creates new Debt Collection service

UK debt collections

A new debt collection service has been launched by Barking & Dagenham Council. The Debt Collection service has been launched to reduce the need for enforcement action. The council had previously relied on enforcement to collect unpaid council tax.

House Passes Debt Collection Reform Bill

Account Recovery

2547, the Comprehensive Debt Collection Improvement Act, a collection of bills aimed at reforming how debts are collected in the United States. Maxine … The post House Passes Debt Collection Reform Bill appeared first on AccountsRecovery.net.

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Michigan Gov. Names Pair to Collection Practices Board

Account Recovery

Gretchen Whitmer appointed a pair of industry professionals to represent the accounts receivable management industry on the state’s Collection Practices Board. Names Pair to Collection Practices Board appeared first on AccountsRecovery.net. Michigan Gov.

Courts close rogue Debt Collection Agency

UK debt collections

The High Court has shut down a rogue Debt Collection Agency it has emerged. The Debt Collection Agency spuriously claimed to be able to collect debts from liquidated companies. The scam debt collection firm had been using a bank account that was not in its own name.

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.

When is it time to hire a Debt Collection Agency?

UK debt collections

The saying in the Debt Collection Industry is ‘the older, the colder’ which is layman’s terms means, the longer the invoice goes unpaid, the less likely it will be paid at all. Maybe they should consider that it is time to hire a debt collection agency.

Senators Ask CFPB to ‘Address’ Medical Debt Collection

Account Recovery

Compliance Healthcare Legislation Maryland Medical Debt Collection Nevada New Mexico

Covid Loan Debt Collection talks hit brick wall

UK debt collections

Plans to create a Nationwide Debt Collection service to recoup unpaid covid Business support loans have hit a brick wall according to latest reports. £45 Some of the Larger Lenders such as Lloyds and HSBC have since changed their stance on a centralised debt collection unit.

Loans 65

Scam Debt Collection Agency Owner receives lengthy Jail sentence

UK debt collections

A Scam Debt Collection Agency Boss has been sent to prison for 4 years and 10 months. The Dodgy Debt Collector took cash payments from clients to help recover money but did so with no intention of collecting what they were owed. Dodgy Debt Collection Agencies.

Industry Spotlight: Third-Party Debt Collection

Payment Savvy

Fast forward to the present day, and professional third-party debt collection agencies have made it efficient, compliant, and cost-effective for companies to recover owed monies. Over the years, the debt collection industry has experienced many ebbs and flows.

Factsheet | collection

On Guard

Factsheet for more information on Collection. Our debt collection software offers the perfect solution in such situations. The post Factsheet | collection appeared first on Onguard. Whitepaper collection factsheet collector

Debt Collections for SaaS Clients

Enterprise Recovery

The internet allows for businesses to sell the use of software (and hardware) and revenue is collected either yearly or monthly as a subscription service. Because client retention is very important to this business model, debt collections must be handled with business relationships in mind.

Master Debt Collection Now – Before It’s Too Late

Fico Collections

I’ve often said that if you need to get really good at collections now, it may already be too late. Being obliged to try to get to grips with cost-effective and timely collections may be too late if significant defaults start to loom large.

Collections Effectiveness Index

Enterprise Recovery

The Collections Effectiveness Index is measured as a percentage of accounts receivable collected within a given time period. Glossary

Why ‘Free Debt Collection’ can cost too much

UK debt collections

We are all familiar with the terms No win no fee debt collection or free debt collection but what is the real story here. Seemingly ‘cheap’ debt collection services are not always the way to go as it could cost you a lot more than you think.

Debt Collection notices helped reveal Employee’s £1.7m scam

UK debt collections

When Company Bosses at a Scunthorpe based Business started receiving Commercial Debt Collection Agency letters alarm bells rang. Debt Collection Economy commercial debt collection debt collection notice Debt collection Scam employee fraud lisa crawshaw

Collections Optimization and Ethical Debt Management at Ultimo

Fico Collections

. Debt remediation is at the forefront of the financial services industry’s response to the pandemic, and this is leading collections operations to advanced analytics such as collections optimization.

The End of Collections

Re:Ceeve

“Software is capable of delivering extensive gains before you need to even consider debt collection agents!”. Debt collection isn’t a media darling, and you rightfully may know very little about it. Whichever structure they choose, their revenues boil down to collections fees.

B2B Debt Collections in 1.2.3

Enterprise Recovery

Get yourself a partner who does accounts receivable, bad debt collection and helps with litigation. B2B Debt Collections in 1.2.3. Hiring a B2B Collections Agency

How Long Can a Collection Agency Attempt to Collect Business Debts?

Enterprise Recovery

If your business has sent bad debt accounts off to a collections agency, you likely have questions about recovering that debt. Typically, commercial collections agencies only charge a fee if they're able to collect. Hiring a B2B Collections Agency Commercial Debt Collection

State Collection Wins Logo Madness Tournament

Account Recovery

Congratulations to State Collection Service for winning the first annual AccountsRecovery.net Logo Madness tournament, which wrapped up yesterday. General News Balto Gulf Coast Collection Bureau Resurgent Capital Holdings State Collection Service The Preferred Group of Tampa

How to Handle Collection Calls

Sawin & Shea

When you hire Sawin & Shea for your bankruptcy, we give you a phone script that helps you handle collection calls. Here’s some additional information about how to handle collection calls properly when you’re working with a bankruptcy attorney.

Do This For Successful Business Debt Collections

Enterprise Recovery

Collecting past due debts from your customers and clients is an unfortunate part of the accounts receivable process. But even beyond that, there are steps you can take to ensure payment from your collections efforts. Follow these steps for successful business debt collections.

HMRC facing £65bn Debt Collection challenge

UK debt collections

The HMRC is now facing its biggest debt collection challenge in history. An estimated £26.6bn of that debt is sufficiently in arrears to allow it to be subject to immediate HMRC debt collection action.

Overcoming Common Collection Agency Challenges

Payment Savvy

The collection agency faces many challenges, including ever-changing technology and tightening oversight. It’s important to regularly review your processes and procedures and pay close attention to your collection agency challenges. Outdated Collection Strategies.

How Listening to Customers Improves Debt Collection Recovery Rates

PDC Flow

In debt collection, listening is a key skill to look for in a new hire. Communication and collections professional Mary Shores is a vocal advocate of listening to consumers. Listening to Customers in Front line Collection. This feeling is a common blocker in debt collection.

Debt Collection Approaches for the COVID-19 Recovery

Fico Collections

So how should debt collection operate during the COVID-19 recovery? Lenders may opt to enhance their customer assistance and collections capabilities. Digital-First Collections. The Value of Optimization in Collections. The End of COVID-19 Support.

DFPI Debt Collection Committee to Hold First Meeting Next Week

Account Recovery

The California Department of Financial Protection and Innovation has announced it will be holding the inaugural meeting of its Debt Collection Advisory Committee on July 28 from 1:30pm PT to 3:00pm PT.

Why Diplomacy Works in Debt Collections

American Profit

We are often asked by our new clients about the strategy we will employ to help them get paid and collect the money that is owed to them. You cannot collect money if the consumer is afraid to pick up the phone. Diplomatic Collections Work. The same holds true in collections.

Qualities of Successful Accounts Receivable and Collections Specialists

Enterprise Recovery

When hiring someone to manage accounts receivable and collections, you're effectively putting your business in their hands. The best way to gain working capital is to improve DSO ( days sales outstanding ) or the amount of time it takes to collect from credit sales.

Collection Agency for Construction Equipment Rental

Nexa Collect

Construction equipment companies have an ongoing requirement for debt collection from businesses (and sometimes individuals) who do not pay the agreed-upon rental dues on time. An experienced collection agency that has extensive experience in commercial collections is a perfect choice.

Maryland Healthcare Collection Bill Becomes Law

Account Recovery

Compliance Healthcare HB565 Healthcare Legislation Maryland Medical Debt Collection SB514 State Action

Sheffield Council accidently sends 1,600 Debt Collection letters

UK debt collections

A council mistakenly sent more than 1,600 “alarming” debt collection letters to allotment holders. Debt Collection Agency Sheffield . Debt Collection debt collection letters debt collection sheffield sheffield council debt collection letters

Effective debt collections acknowledges unique consumer challenges

American Profit

As the light the end of the metaphorical-pandemic tunnel gets brighter, creditors may be questioning whether sending consumers to collections is appropriate. Absolutely send those consumers to collections. Small Business Collections

Keep your collections floor happy!

Qualco

Collections Analytics Technology Loans Portfolio Credit