article thumbnail

Government is Making Debt Recovery a lot Harder

Nexa Collect

The US government has thrown a slew of laws on collection agencies, making bad-debt recovery harder and costlier. Lower recoveries mean, low recoveries and extensive loss for businesses and doctors. There are thousands of collection agencies in the USA, but most are small. New Regulations. Read this: [link].

article thumbnail

Impact of Collection Agency Letters on Debtors

Nexa Collect

Collection agency letters can impact debtors, depending on factors such as the debtor’s financial situation, emotional state, and knowledge of their rights and responsibilities. Urgency to Pay : The letters can create a sense of urgency to pay off the debt.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Spike in Debt Recovery action expected

UK debt collections

A big spike in Debt Recovery action is expected following the end of temporary measures introduced by the government to help bolster Small Businesses during the pandemic. In the coming months, it is expected that a lot of companies will be needing debt recovery help to recover what they are owed.

article thumbnail

Maximize the chances for debt recovery with a keeper attachment

Collections Law

Navigating the complexities of debt collection is an endeavor, even for larger Massachusetts businesses. Cohen & Associates LLC, our commercial litigation attorneys have more than 50 years of collective experience in commercial debt collection. One such aggressive collection tool is a keeper attachment.

article thumbnail

Debt Recovery During an Economic Recession

Nexa Collect

People tend to spend more money on basic essentials over pending bills like medical debt and student debt. . The more you defer working on your overdue bills, the financial situation of your customers/debtors will deteriorate. Your customer likely has other debts besides yours. Contact us.

article thumbnail

Debt Recovery effort sees £437,000 written off by Council

UK debt collections

Renfrewshire Council is preparing to write off more than £400,000 of irrecoverable debt following extensive debt recovery action. The debt recovery process involves extensive effort by the council and its debt recovery agents to locate the debtor and recover the debt,” the report states.

article thumbnail

Ambulance trust writes off £339k after Debt Recovery failure

UK debt collections

In a meeting of the West Midlands Ambulance trust board (WMAS), members agreed to write off a whopping £339,000 owed to the service detailed in a report following debt recovery failures. As reported in the Shropshire star, TNC Debt Collection Agency had provided a no win no fee debt collection service to the Ambulance trust.