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Debt Collection Now and Post-Covid

Nexa Collect

The turnaround came the following year, during tax refund season as the debt recovery levels went up substantially ( March/April 2020). Additionally, the government-assisted stimulus packages resulted in recovery rates jumping by almost 1.5 times than normal , because people wanted to pay off their debts with this extra cash.

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Ex TV Channel boss banned from being a Company Director

UK debt collections

The paperwork also revealed Mr Johnson had an outstanding loan of £100,000 from Rhino TV and had been asked to provide a sworn statement of his assets, liabilities, income and expenditure. The document, filed at Companies House, also revealed liquidators had reported Mr Johnson to the Department of Business, Energy and Industrial Strategy.

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How Businesses Use Corporate Debt Restructuring for Liquidity

Debt RR

Businesses restructuring debt typically do so because they’re having trouble meeting obligations, and it goes both ways. Many businesses are both debtors and creditors. That’s why it behooves everyone to understand debt restructuring. Some level of distressed debt can be forgiven, although that’s far from the only option.

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Impact of The GLBA on Collection Agencies

Nexa Collect

The GLB Privacy Rule only applies to nonpublic personal information (NPI), including (Debtor) Name, Address, Income, Social Security number. Transaction information such as account numbers, payment history, loan balances and information from court records or consumer reports. Loan balances. Handling savings. Payment history.