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In a new report, the Credit Services Association (CSA), the UK trade body for the debt collection and debt purchase sector, has called on the Government to improve its debt collection methods for collecting debts to help service users more effectively and boost collections revenues.
According to Treasury estimates, the injection of cash will help HMRC’s debtmanagement team recoup £515million in taxes in 2024-25. Improving HMRC debtmanagement resource The Treasury says it wants to resolve the tax gap between what is owed to the national coffers and what is being collected.
million consumers — taking advantage of payment relief, the onus is on us to identify these customers and offer them constructive support through this crisis. With one in six of all mortgage holders — that’s 1.9 Ultimately it is in everyone’s best interest to get as many people as possible back on track with their finances.
While revenue growth and customer acquisition are often the focus, effective debtmanagement is equally critical. One tool that stands out in managingdebts and ensuring steady cash flow is amortization —a concept that can make seemingly insurmountable debtsmanageable and predictable.
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