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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. Debtors who would have usually paid quickly are now disputing the collection notices more than ever.

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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.

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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.

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Maximize the chances for debt recovery with a keeper attachment

Collections Law

In Massachusetts, a keeper attachment is a prejudgment attachment in which the court appoints a “keeper” to oversee a debtor’s cash receivables. This prejudgment attachment is especially useful when a debtor is operating a cash-heavy business like a restaurant or retail store. What does the keeper do? Cohen & Associates LLC.

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Navigating Unpaid Debts and Debt Recovery in Australia

JMA

In Australia, understanding the ins and outs of debt recovery is essential to manage financial obligations effectively. In this article, we will address common questions regarding unpaid debts, the timeframes for debt payment and recovery, and the potential ramifications for debtors.

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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.

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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. Here are some potential impacts: Stress and Anxiety : Receiving a letter from a collection agency can cause significant stress and anxiety for debtors.