Qualco

NOVEMBER 26, 2024

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. To find out more on how Qualco’s panel and asset management platform can help you optimise collections, contact us. You can view it here. Download it here.

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Loans Credit Management Creditors Government 89

True Accord

OCTOBER 22, 2024

Read on for our take on what’s impacting consumer finances, how consumers are reacting and what else you should be considering as it relates to debt collection today. The government has also reported that the economy expanded at a solid 3% annual rate Q2, with growth expected to continue at a similar pace in Q3.

Student loans 111

Student loans Student Loans Loans Retail 111

UK debt collections

JULY 22, 2021

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.

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Collection Agent Banks Loans Collections 86

True Accord

APRIL 28, 2025

Other challenges for businesses debt collection operations come in the forms of regulatory changes impacting innovation and uncertainty about staying in compliance. trillion and auto loan balances increased by $11 billion to $1.66 The 2024 Order conflicts with the CFPBs Regulation F Debt Collection Rule about the scope of an opt-out.

Student loans 89

Student loans Student Loans Loans Collections 89

Nexa Collect

JUNE 27, 2023

Recovering unpaid student loans is a systematic process. Just like mortgage recoveries, the steps can vary depending on the jurisdiction and the terms of the loan. Employ a Collection Agency : If the borrower is unresponsive or unwilling to pay, employ the services of a collection agency.

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Student Loans Student loans Loans Garnishment 100

UK debt collections

FEBRUARY 16, 2021

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 In total 1.47m loans were issued by Commercial Lenders with a government guarantee. The programme will see recipients start to pay 2.5% interest from May.

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Loans Collections Lender Bankruptcy 72

Nexa Collect

JANUARY 19, 2022

If you think that ignoring written demands and calls from a collection agency will spare you from all the consequences, then you are wrong. Your credit card address, your USPS change of address, address on your most recent bills are collected by data aggregation companies and/or credit reporting agencies. Image source: [link].

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Collections Debt collector Collections Agency Collection Agencies 130

Qualco

NOVEMBER 28, 2023

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. To find out more on how Qualco’s panel and asset management platform can help you optimise collections, contact us. You can view it here. Download it here.

Loans 105

Loans Credit Management Creditors Government 105

True Accord

AUGUST 25, 2020

Banks are accelerating their adoption of new digital debt collection tools in anticipation of a “tidal wave of consumer debt issues” when government stimulus programs end and financial institutions stop offering forbearance and loan deferral options. About TrueAccord.

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Collections Financial Institution Banks Construction 123

Troutman Sanders

NOVEMBER 18, 2022

On November 17, the Consumer Financial Protection Bureau (CFPB) announced it is seeking public comment on its proposal to develop a new data set to better monitor the auto loan market. Because student loans are largely administered by the federal government, we know more about them too.

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Collections Lender Student loans Student Loans 98

Fico Collections

JANUARY 6, 2021

Posts dealing with debt collection were among the most popular on the FICO Blog last year, for obvious reasons. Debt Collection And Covid-19: What Past Crises Can Teach Us. In particular, we failed to: Identify the customers who would not have been in collections were we not in the situation we are in.

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Collections Loans Lender Government 98

UK debt collections

DECEMBER 8, 2020

The Financial conduct authority has asked banks, lenders and debt collectors for advice on how to deal with the fall out from emergency Covid-19 loans given out during the pandemic. The FCA is preparing new guidance on how they can help businesses that took out emergency loans during the COVID-19 crisis.

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Collections Lender Loans Debt collector 72

UK debt collections

MARCH 11, 2025

Over 28% of SMBs have resorted to short-term financing, such as loans and credit lines, to cope with cash flow issues caused by late payments. While the government has vowed tocrack downon late payments, businesses are already exploring self-help solutions.

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Manufacturing Retail Government Loans 74

UK debt collections

OCTOBER 4, 2024

The London Borough of Croydon sends out the highest number of bailiffs in all of England and Wales to collect debts, according to a new interactive map. It sent out the most bailiffs for debt collection in London between 2022 and 2023, a staggering 86,295 referrals, with 36,122 of these referrals for council tax arrears.

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Collections Debt collector Collections Agency Collection Agencies 99

UK debt collections

OCTOBER 4, 2021

Over a third (35 per cent) of small- and medium-sized enterprises (SMEs) are concerned about their ability to start repaying Covid support loans, research has found.

Loans 88

Loans Financial services Lender Government 88

Re:Ceeve

JUNE 2, 2020

In today’s world where consumerism is rife and ‘buy now, pay later’ plans are an integral part of most transactions, an enterprise’s approach towards debt collection is essential in maintaining relationships, safeguarding the average lifetime value (LTV) of a customer and sustaining financial health. You can automate revenue processes.

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Collections Consolidate Debt Government Loans 98

Credit Corp

JULY 9, 2024

Ignoring student loans can damage your credit score, lead to wage garnishment, and accrue interest and fees. It may also result in legal action, tax refund offsets, and impact co-signers, making it crucial to address repayment issues promptly with your loan servicer. What Happens If I Don’t Pay My Student Loans?

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Student Loans Student loans Loans Accrued Interest 52

UK debt collections

JULY 25, 2022

The move is seen as the Insolvency Service ramping up its actions against deliberate fraud for government backed emergency Covid-19 loan schemes. Last year, government ministers introduced new legislations that gave the Insolvency Service powers to investigate and punish directors that abused the system to escape their creditors.

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Loans Customs Official Government Trade 59

Debt Free Colorado

FEBRUARY 21, 2022

When collecting a debt from you, collection agencies must adhere to federal and state rules. Fortunately, the federal Fair Debt Collection Practices Act (FDCPA) protects all states. You have rights to help you gain control over your debt collection interactions. Call or text you to collect a debt between 8 a.m.

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Debt collector Fair Debt Collection Collections Agency Collection Agencies 98

Nexa Collect

APRIL 27, 2022

Most doctors (and dentists) who do private practice, struggle to cope with never-ending government regulations and mandates, a constant fear of frivolous lawsuits, dealing with insurance companies, and loss due to unpaid patient bills. These include government rules, credit scoring models and even credit bureaus.

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Consumer Finance

APRIL 9, 2024

CFPB Director Rohit Chopra provided remarks at Rutgers Law Center School Center for Corporate Law and Governance on student-loan securitization.

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Government Student Loans Student loans Loans 52

Titan Consulting

JUNE 7, 2020

Congress recently passed legislation in the CARES act that provides direct and indirect benefits to Federal Student Loan borrowers. Benefits include a suspension of payments, no negative credit reporting, no collection activity, and no accrual if interest until September 30, 2020. Help Available for Borrowers with Student Loans.

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Student Loans Student loans Loans Accrued Interest 64

Better Credit Blog

MAY 11, 2022

million people carry some form of student loan debt, with most averaging around $39,000 —although many of us have a lot more. Refinancing your student loans could help lower your monthly payments and reduce your overall repayment amount. Keep reading for a deep dive into our picks for the seven best student loan refinancing companies.

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Student Loans Student loans Loans Lender 71

UK debt collections

NOVEMBER 9, 2023

Small Business Debt Collection is one of the most efficient ways to boost cash flow, and will help ensure that businesses get paid more quickly. Small Business Debt Collection services help businesses to quickly and efficiently identify debtors, track invoices, and send out automated reminders for overdue accounts.

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Government Debtor Loans Collections 93

Taurus Collect

JUNE 16, 2024

Managing compliance and regulations in collections can be challenging for lenders in the UK. Stay tuned for insights that could make a significant difference in your approach to debt collection. They oversee debt collecting companies to ensure fair treatment of customers.

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Lender Collections Collections Agency Collection Agencies 69

True Accord

APRIL 5, 2023

With uncertainties about how the end of various pandemic-era benefits will impact consumers, it’s more important than ever for creditors and collectors to implement strategies that consider consumer situations and preferences when attempting to collect. What’s Impacting Consumers and the Industry? year over year in February 2023.

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Student loans Student Loans Credit Card Debt Loans 119

Direct Recovery

AUGUST 1, 2024

The debt collection process is a necessary evil for anyone who extends credit to clients, customers, or other businesses. When things get difficult and payments are missed, debt collectors are the ones that get tasked with tracking and collecting what is owed as efficiently as possible.

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Collections Debtor Fair Debt Collection Judgment 59

Nexa Collect

JUNE 25, 2023

The professional life of a debt collector involves communicating with individuals and businesses to collect payments on overdue bills, loans, or other financial obligations. Knowledge of Laws and Regulations : Debt collectors must be well-versed in the laws and regulations that govern debt collection in their jurisdiction.

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Debt collector Debtor Fair Debt Collection Education 130

Collection Industry News

JANUARY 3, 2022

If the CFPB’s inquiries into “Buy Now Pay Later” credit and pawn loans are a leading indicator, it seems only a matter of time before Mr. Chopra revisits the perpetual progressive irritant—payday loans. A study we recently completed questions the wisdom and legality of the CFPB’s last attempt to regulate payday loans, a rule from 2017.

Loans 52

Loans Banks Government Collections 52

UK debt collections

MARCH 17, 2022

Many distressed businesses have managed to keep afloat by making use of the high level of government support available. However, as businesses have now started to repay BBLS and CBILS loans as well as deferred HMRC liabilities , pressure on cash is growing and we may continue to see the overall number of business failures increase.

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Creditors Government Loans Collections 101

Better Credit Blog

FEBRUARY 15, 2021

Are collections accounts weighing heavily on your credit report? If you’ve fallen behind on any of your accounts, you could find Fairway Collections on your credit report. As long as the collections entry stays on your report, it’s hurting your score. About Fairway Collections. Self-pay collections.

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UK debt collections

JUNE 22, 2020

However, the survey of 1,200 firms finds that the government-backed coronavirus lending schemes are reaching the businesses which need it most. This is higher than the industry average of eight out of ten for all loan applications from SMEs. Similarly, 54% found applying for a Bounce Back Loan to be a good experience.

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Lender Loans Government Trade 90

UK debt collections

JANUARY 8, 2021

The government should consider a system of grants and government-backed loans – comparable to schemes in Scotland and Wales – to help people pay back their rent arrears sustainably and stay in their homes. The government must act decisively to prevent evictions in areas subject to the highest coronavirus restrictions.

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Collection Industry News

FEBRUARY 21, 2022

Washington, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released a bulletin detailing student loan servicers’ obligation to halt unlawful conduct regarding borrowers’ eligibility and benefits under the Public Service Loan Forgiveness (PSLF) Waiver. Despite one government estimate that 1.3

Student Loans 52

Student Loans Student loans Loans Education 52

Account Recovery

SEPTEMBER 5, 2024

This acquisition further expands C&R Software’s offerings in the financial health sector and supports the company’s mission to deliver comprehensive collections and recovery solutions to customers worldwide. WARMINSTER, Pa., SpringFour will operate as a standalone brand, with Rochelle Nawrocki Gorey remaining as the CEO.

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Acquisition Credit Unions Credit Unions Construction 130

UK debt collections

SEPTEMBER 21, 2021

The insurer’s research highlights the impact and success of the government’s various state support schemes and funding during the pandemic. In 2019 the share of SMEs at risk was 17% and Euler Hermes estimates the figure would stand at 26% today if government support hadn’t been implemented.

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Manufacturing Construction Government Bankruptcy 23

Taurus Collect

APRIL 4, 2023

For businesses that need a little extra financial support to make their operations more efficient or expand, taking out a loan can provide the necessary capital and access to new opportunities. Business loans also come with flexible repayment plans that make it easier to pay back the amount borrowed over some time.

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Loans Lender Collections Government 52