Debt Recoveries

MAY 28, 2023

One of the most ignored duties in company today is debt collection. When your company receives an order, or possibly even earlier during the quoting or prospecting stage, a debt collection actually gets underway. Early and regular follow up is the most efficient way to avoid bad debt write-offs. Any other tips?

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Sawin & Shea

NOVEMBER 23, 2022

Once bankruptcy is filed, whether it’s under Chapter 7 or Chapter 13 , an automatic stay prevents debt collectors from taking further legal action. Does bankruptcy clear lawsuit debt? Creditors can, and most likely will, take you to court if you owe a debt such as a credit card or medical bills and cannot pay.

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Hudson Weir

MARCH 22, 2024

The total number of company insolvencies in 2023 was 25,158, the highest number since the year 1993 and 14% higher than 2022, according to The Gazette. The total number of company insolvencies in 2023 was 25,158, the highest number since the year 1993 and 14% higher than 2022, according to The Gazette.

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Taurus Collect

MAY 18, 2023

One such matter that may arise is whether or not to send someone to collections. In this blog post, we will explore the do’s and don’ts of sending someone to the collection so that you know how best to manage these delicate situations when they occur. Typically, it can take anywhere from 30 to 180 days after a missed payment.

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True Accord

SEPTEMBER 28, 2022

Just as technology has evolved leaps and bounds, so have consumer communication preferences, especially when it comes to debt collection. Code-based compliance is a critical component for the debt collection industry. How can businesses ensure compliance through the evolving regulatory landscape? Hydrated, check.

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Taurus Collect

NOVEMBER 15, 2023

Experiencing a constant barrage of calls from debt collectors can be overwhelming, to say the least. Many wonder, “How many times can a debt collector call me in one day?” Regulations around debt collection are strict, and experts from no cure no pay debt collection UK are here to help you navigate these waters.

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FFGN COLLECT NY

MAY 22, 2023

Summons and complaints are the most important pleadings filed in debt collection litigation, which makes properly drafting summons and complaints incredibly important. It is where the creditor outlines the “legal cause of action” for the claim(s) the creditor has. A debt collection complaint outlines the issue.

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Qualco

APRIL 15, 2024

THE NEW ERA OF CONSUMER LENDING In today ’ s rapidly evolving financial landscape, the significant increase in consumer lending presents new challenges for financial institutions, particularly in managing collections.

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Direct Recovery

APRIL 18, 2023

Taking on debt is one of the most common ways to fuel a rapidly growing small business. But that debt can quickly become an anchor weighing down the entire company if growth sputters, and the resulting collections can be even more problematic than the debt in the first place. What is Commercial Debt Collection?

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Debt Recoveries

APRIL 30, 2023

When seeking to collect debts, business owners and organisations confront a variety of challenges, and there are numerous reasons why a debtor might not pay on time. Delay tactics or other means of stalling the collection process may be employed by debtors. It can be difficult to collect debts from recalcitrant borrowers.

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Debt Free Colorado

JANUARY 20, 2024

Learn to Eliminate Medical Debts Through Bankruptcy Bankruptcy and medical debt relief have become buzzwords for those with financial problems due to unexpected health issues. It’s important to understand that having medical debt does not reflect personal failure. Chapter 7 offers discharge for eligible medical bills.

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PDC Flow

AUGUST 11, 2023

Email for debt collection is more popular than ever and there are good reasons why. Types of Emails for Debt Collection Debt collectors know email serves consumers better–and many have chosen tools to make this happen. What action do you want the consumers to take as a result of your email strategy?

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Taurus Collect

APRIL 3, 2023

Managing international debt recovery is complex, and it’s important to know the laws of each country to do so successfully. This blog post will break down everything companies outside of the UK need to know before recovering debts from British residents or businesses.

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Taurus Collect

APRIL 4, 2023

Do you have an international business or enterprise and have been struggling to find success in your debt recovery efforts in the UK? There is no need for concern, as with proper planning and use of workflow systems, any enterprise can establish a strong foothold when seeking payment on debts owed.

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Taurus Collect

FEBRUARY 27, 2023

Your bill goes into collections when you fail to pay it within a certain period of time. Once your bill is in collections, you’ll be contacted by a collection agency , which will try to collect the outstanding amount. If you still don’t pay, the debt may be sold to a third-party collection agency.

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Credit Corp

FEBRUARY 9, 2024

Foreclosure means that your mortgage lender can legally repossess your house due to nonpayment. They can then sell your house to help repay the debt you owe on it. Foreclosure means that your mortgage lender can legally repossess your house due to nonpayment. They can then sell your house to help repay the debt you owe on it.

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Taurus Collect

APRIL 9, 2024

In the dynamic landscape of business, maintaining a healthy cash flow remains a paramount challenge, particularly in the face of rising collection costs. This is where the innovative concept of No Cure No Pay debt collection in the UK presents a compelling solution. It’s part art, part science, and entirely essential.

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UK debt collections

JUNE 14, 2022

According to Allan Cadman, North West chair of the insolvency trade body R3, due to confusion over the rules, in some cases businesses are facing legal demands for payment of the full amount of rent owed. In one case we calculated that the amount that the company was required to pay was actually £90,000 less than the sum being demanded.

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Collections Law

MAY 23, 2023

The earlier the better. As soon as your ordinary, reasonable debt collection efforts have failed. Ballpark, a substantial receivable that is over 60 days late requires immediate action. That action needs to be more than just hiring a collections agency. There are far more effective ways. You get paid.

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PDC Flow

JANUARY 29, 2024

Debt settlement campaigns are initiatives where debt collection agencies offer a discount to consumers to boost collection on old or unresponsive accounts. Tax season is the best time to consider a debt settlement campaign within your debt collection agency. IS THE CONSUMER ON A PAYMENT PLAN?

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Nexa Collect

JUNE 20, 2020

Just like a social contract, a business contract has some strict terms on paper, but, in reality, on-the-ground negotiations of the terms to fit business needs, slight modifications to adapt to changes, inconsistent payment schedules, and other breaches of the contract, all make the terms of the contract less absolute than they seem.

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Credit Corp

FEBRUARY 23, 2024

Debt consolidation combines multiple debts into one and can help your credit score. Bankruptcy can reduce your total debt at the cost of ruining your credit. Debt consolidation and bankruptcy are two options for debt relief that have distinct advantages and drawbacks. What Is Debt Consolidation?

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True Accord

OCTOBER 10, 2023

If you’re a creditor or collector working with financially distressed borrowers, considering consumer situations and preferences when collecting is critical to your success. in August , lower than the expected 0.2% trillion in student debt under the CARES Act, student loan payments resume this month.

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Jimerson Firm

DECEMBER 14, 2021

Two important statutes for all businesses to be aware of are the Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA). Fair Debt Collection Practices Act. For example, a debt collector cannot: use violence or make repetitive telephone calls (15 U.S.C.

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Collection Industry News

DECEMBER 4, 2022

Almost 2,000 consumers who were conned into paying debts they didn’t owe are in the process of getting their money returned to them. More from Personal Finance: What a recession could mean for you Best money moves after the Fed’s interest rate hikes Nearly half of all Americans are falling deeper in debt. Check your credit report.

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Better Credit Blog

APRIL 1, 2022

To remove Capital One Collections from your credit report, you first need to know who currently owns the debt. In other words, has Capital One sold your unpaid credit card debt to another collection agency, or is the debt still with Capital One? Steps To Remove Capital One Collections From Your Credit Report.

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Qualco

JUNE 29, 2023

Effective communication is critical for successful debt collections in today's fast-paced world. Printed letters convey a n official tone and may threaten legal action , but they lack immediacy and personalisation. Moreover, omnichannel debt collections ensure continuity in the customer journey.

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Troutman Sanders

MARCH 11, 2024

The rule will curb fees that cost American families more than $14 billion a year. The CFPB estimates that American families will save more than $10 billion in late fees annually once the final rule goes into effect by reducing the typical fee from $32 to $8. For more information, click here. Additionally, the DOE agreed to pay $2,199.45

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FFGN COLLECT NY

FEBRUARY 24, 2023

Looking for a debt collection attorney but not sure where to begin? There are a lot of debt collection law firms and debt collection agencies available to choose from. The best way to find a debt collection lawyer often varies. Debt collection doesn’t always mean litigation.

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Taurus Collect

FEBRUARY 23, 2023

If you’re in debt, you may be wondering if it’s better to hire a debt collection agency or lawyer to help you recover the money you owe. Both professionals can help you get your debts paid, but there are some key differences between them that you should consider before making a decision.

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Credit Corp

NOVEMBER 9, 2020

If you or someone you know has dealt with a collection agency, you know how trying it can be. Debt collection agencies have a long history of harassment and illegal practices. Can a collection agency report to a credit bureau without notifying you? It does not come into play for creditors collecting their own debts.

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Credit Corp

APRIL 2, 2024

Are you paying higher-than-average interest rates because of your poor credit score? Repairing your credit often requires more than responsible credit management—you also may need to have inaccurate negative items removed from your credit report, such as missed payments, debt collections, repossessions and more.

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Taurus Collect

MAY 18, 2023

Are you a business owner or manager who needs to recover outstanding debts from your clients? Chasing after delinquent payments is easier said than done. A professional debt recovery service , however, can save the day! Here are five of the biggest benefits of using a professional debt recovery agency: 1.

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Better Credit Blog

APRIL 3, 2022

Portfolio Recovery Associates, LLC, is a collection agency that buys old debts from lenders and companies that have been unable to collect the debt themselves. Portfolio Recovery buys multiple accounts with old debt from companies that have given up and “charged off” the accounts. This is called a charge-off.

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Debt Collection Answers

AUGUST 27, 2023

As you hesitantly answer, a stern voice claims to be a debt collector, demanding immediate payment for a debt you’ve never heard of. Whether you’ve faced such calls or want to be prepared, read on to discover how to recognize and deal with suspicious debt collector calls with confidence.

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The Kaplan Group

NOVEMBER 10, 2021

Maintaining client relationships as you pursue an escalated B2B debt collection is a delicate balance. Many industries are “small worlds,” and your clients could be talking to each other more than you think. As a business owner, you need to preserve your bottom line, so commercial debt collection is critical.

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Debt Recoveries

APRIL 14, 2020

You need to let them know you working towards a mutually beneficial solution to resolve the debt. The next desirable outcome is a reduced lump sum, which is often better than accepting a long, drawn out instalment arrangement. Outsource to a Collection Agency. . Start negotiations. . Then work down from there.

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