UK debt collections

NOVEMBER 28, 2023

million into HMRC Debt Collection, raising efforts to recover £4.67 According to Treasury estimates, the injection of cash will help HMRC’s debt management team recoup £515million in taxes in 2024-25. Being chased by HMRC Debt Collection Team? The Government is to our £16.3

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Qualco

DECEMBER 7, 2021

A solution that will enable creditors to quickly do analyses of a vast amount of data from multiple sources; have access to insights about delinquency status, and ways to efficiently manage customers that default. All those requirements can be addressed with ML, which has started to modernise the whole debt collections lifecycle.

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Hudson Weir

AUGUST 21, 2023

In this guide we explore HMRC debt management and collection, including the options if your business is struggling to make a repayment. The National Audit Office reports the total tax debt reached £42bn in September 2021, up from £16bn in January 2020 before COVID-19. If that’s the case, your company isn’t alone.

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Qualco

APRIL 8, 2022

It is of great importance that financial organisations should invest in advanced technologies, such as Machine Learning and advanced analytics, to proactively efficiently manage the increasing debt and optimise the collection process. Want to get a full grasp on the ways they can do so?

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Qualco

JANUARY 10, 2022

NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. You can view it here. Download it here.

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Qualco

JANUARY 10, 2022

NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. You can view it here. Download it here.

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Qualco

JANUARY 10, 2022

NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. You can view it here. Download it here.

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Debtor Daddy

JANUARY 16, 2022

In this post, Debtor Daddy looks at five key trends we’re predicting in accounts collections this coming year. Implementing accounts receivable collections tools (such as Debtor Daddy) that automate processes has many advantages. The post 2022: Key trends in accounts receivable and collections appeared first on Debtor Daddy.

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UK debt collections

FEBRUARY 22, 2022

Council Bosses in Lancashire are to discuss abandoning the use of Debt Collection Agencies to collect rent arrears or council tax. Regardless, liberal South Ribble councillors says a more considerate approach to rent and tax collection is still needed which likely lead to a rise in Council tax for the corresponding areas.

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Nexa Collect

OCTOBER 17, 2020

A Collection agency for funeral homes can attempt to recover money a lot more efficiently. Being a third-party debt collector, they are well-versed with dealing all those excuses and know exactly how to get your money back to you. Need a Collection Agency? A collection agency is really helpful in such cases. Contact Us.

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UK debt collections

JANUARY 6, 2022

Debt Collection firms have welcomed the news that the Financial Conduct Authority has completed a consultation on outlawing referral fees for debt packager firms. Facebook and other social media platforms also carry the promise of wiping off debt for a small cost. This marketing comes from debt packager firms.

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Qualco

JUNE 2, 2021

What happened when a leading loan servicing organisation looking to optimise its treatment process and increase cash collections decided to leverage enhanced analytics? The internal collections floor used pre-determined, customised call scripts to conduct settlement negotiations and provide debt management advice to customers.

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Katabat

DECEMBER 2, 2019

3, 2019 – Katabat, a leading global supplier of debt management software solutions, today announced that SoFi, a leading personal finance company in the U.S., SoFi will leverage Katabat’s industry-leading Restore collections platform, to deliver an omnichannel experience for consumer collections. WILMINGTON, Del.,

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Fico Collections

MARCH 30, 2022

itelna, the Czech Republic’s oldest and largest bank, has modernized its operations by optimizing its decisions around customers in early collections. The use of FICO prescriptive analytics, in this case, debt collection optimization, has improved customer satisfaction and reduced agent call minutes by 25 percent. “As

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UK debt collections

MARCH 15, 2022

The Council refused to turn to Debt Collection Agencies for help despite incurring heavy losses as a result. No doubt resulting in an increase in Council tax to cover the shortfall as a result of not working with a professional debt collection agency. Once debts have started occurring, it becomes far more challenging.

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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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Fico Collections

JUNE 19, 2023

Joining me for this discussion were Thomas Franke, Head of Debt Collection Service at the cooperative TeamBank, and Sven Krüssel, Head of Customer Service at VR Smart Finanz, where he looks after the self-employed and small to medium-sized enterprises (SMEs). How Is Debt Management Culture Changing?

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Fico Collections

JANUARY 17, 2022

In early collections, most customers will pay within a couple of days when nudged by a friendly reminder, such as text messaging. Ideally, minimal operational effort is spent on customers that are likely going to pay, so that expensive debt collection resources can be focused on those customers where agent intervention makes a difference.

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UK debt collections

JUNE 23, 2020

A mixed party collaboration of MP’s has written to the Chancellor requesting new legislative measures to reform the government’s debt collection practices. The 50 strong group of MP’s is urging chancellor Rishi Sunak to support the creation of a Debt Management Bill. Peter Turton of Stepchange said. “We

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Katabat

NOVEMBER 20, 2019

12, 2019 — Katabat, a leading global supplier of debt management software solutions, has launched Easy Collect, a powerful, yet easy to deploy, mobile payment portal for lenders and debt collection agencies. Easy Collect is PCI-compliant and does not require IT support for deployment. WILMINGTON, Del.,

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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.

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Account Recovery

AUGUST 5, 2020

August 5, 2020, Wilmington, DE – Katabat, a leading global provider of debt management software solutions for lenders, fintechs, and collection agencies, announced today a strategic growth investment from Tritium Partners, a growth-focused private equity firm with extensive experience investing in fintech and financial services companies, and Terminus (..)

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Fico Collections

FEBRUARY 8, 2021

In this light, new clients often ask me what they can do to ensure both a successful implementation and knowledge transfer to their staff for a complex system like their new collections system (sometimes called their CRM system). Truly modern collection systems are implemented through configuration rather than modification.

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Credit Corp

AUGUST 24, 2020

When you’re trying to conquer unpaid debts sent to collections, you’ll likely face some obstacles. Two of the most common are coming up with enough money to pay off the debt and negotiating a payment plan or settlement you can afford. Find out how to pay collections below. Creating a Debt Management Plan.

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Taurus Collect

JUNE 12, 2023

Thus, debt collection agencies are commonly utilised to ensure that funds due back to businesses don’t go unpaid. But how often do debt collection agencies take their clients’ customers to court? But did you know that these agencies often try to resolve your debt before resorting to legal action?

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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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Fico Collections

NOVEMBER 23, 2021

The best collectors profile their customers , fit collections solutions to profiles, time the engagement and seek a channel that enables straightforward automated resolution, again with appropriate real-time validation. Despite marketing and collections being at polar opposites of the credit life cycle, they certainly have a lot in common.

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Fico Collections

JANUARY 4, 2021

Within the collection industry in the United States, State and Federal Governments imposed significant constraints because of COVID. In addition, many States and the IRS slowed or stopped the collection of tax debts, and the Federal Government gave significant deferrals for the repayment of student loans, mortgages, and rent.

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Fico Collections

DECEMBER 6, 2021

Customer-centric collections isn’t a new idea, but in the current environment it has moved from a blue-sky idea to a critical initiative for many lenders. In a presentation last month at the Collections and Vulnerability Conference , I explored this topic. Inefficiency and ineffectiveness in collections has a long-term cost.

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JMA

MAY 29, 2023

Managing debts is a critical aspect of running a business, and understanding industry-specific challenges is key to successful debt collection and recovery. Debt Management Challenges by Industry Debt management.

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Fico Collections

NOVEMBER 2, 2021

. Top-performing digital collections technology should easily co-ordinate a full range of omnichannel customer contact channels, including social media, text, mobile apps, chat-bots and automated telephone calls. This is one of the fundamentals of digital-first collections. by Bruce Curry.

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Katabat

JANUARY 5, 2021

January 5, 2021, Wilmington, DE – Katabat, a leading global provider of debt management software solutions for lenders, fintechs, and collection agencies, announced today that it has acquired Simplicity Collection Software of Idaho Falls, Idaho. Terms of the transaction were not disclosed.

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Katabat

JANUARY 5, 2021

January 5, 2021, Wilmington, DE – Katabat, a leading global provider of debt management software solutions for lenders, fintechs, and collection agencies, announced today that it has acquired Simplicity Collection Software of Idaho Falls, Idaho. Terms of the transaction were not disclosed.

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On Guard

SEPTEMBER 2, 2020

Breaking BAD | Big Aged Debt. A day in the life of an Onguard Collections Agent. According to the CICM, the most important report for any credit manager is the Aged Debt report. The bigger and older the debt the bigger the risk. BAD DEBT DASHBOARD – ALL ACCOUNTS – UPDATED DAILY OR IN REAL TIME.

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Qualco

OCTOBER 25, 2023

This shift also reshapes the realms of credit and collections as a collaborative model, revolutionising how financial data is used. It drives personalised and beneficial services, enhances customer experience and improves financial and personal well-being.

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Fico Collections

AUGUST 14, 2020

I recently discussed the four key changes in collections we have seen at FICO in an interview with Global Risk Community. Digital Collections. Previously I could probably count on one hand the number of clients globally that really do drive digital collections to the next level. Collections Analytics. Building Agility.

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Sawin & Shea

MARCH 6, 2024

Also, if your credit score is already quite low, you may not be able to qualify for low interest which makes debt consolidation a useful method of debt management. How Does Debt Consolidation Work? Pros & Cons of Bankruptcy Bankruptcy, like other methods of debt management, has its benefits and drawbacks.

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