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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. Our government’s intention behind these laws is not wrong, but the ground reality is different. . They have less than ten people and work from small offices. New Regulations.

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How can Collection Agencies Maintain a Good Reputation?

Nexa Collect

Following Federal and State laws: A collection agency that violates government laws will get sued or penalized sooner or later. Asking your happy customers or satisfied debtors can improve your online reputation by many folds. People in this group can be real decision-makers.

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People in debt could get two month ‘breathing space’

UK debt collections

People who are in debt from credit cards, loans and other personal debt sources could be given ‘breathing space’ under new temporary measures the government has announced. It is said that over 1.2million people have fallen behind on their monthly bills along with 590,000 on their rent payments. Student loans.

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Building Successful Collections Teams: Strategies for Recruitment and Growth

Qualco

A speaker at a recent collections conference stated that, traditionally, banks staffed their collections departments with people lacking talent at selling. At a time when digitalisation has automated multiple tasks in collections, many are wondering why hiring, retaining, and developing the right people should be a key concern.

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Debt Collection through Email, SMS and Social Media

Nexa Collect

Several collection agencies have been using electronic mediums like emails, social media platforms, and SMS to contact debtors. To a standard person, it may appear that contacting a debtor either way (traditional or electronic) is the same, a contact made is a contact made regardless of the medium.

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Can Debt Collectors Access My Credit Report?

Direct Recovery

Are you under the impression that the only people who can see your credit report are the ones you authorize when applying for new credit? Creditors usually pull credit reports to gain access to information about people they are considering lending money to. That is not exactly the case.

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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. Those debtors who have been hiding behind CIGA will no longer be able to do so.