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Scam Debt Collectors firm shut down by Authorities

UK debt collections

Bristol based debt recovery business which didnt hand over money is shut down An Insolvency Service investigation found that Encore Capital Group Inc Ltd trading as Encore Debt Recovery failed to fully hand over the money it collected it has been revealed. Have you been the victim of Scam Debt Collectors?

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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. This means all collection agencies must secure consumer data nearly the same way as banks.

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Recommendations for Debt Collectors Working from Home

Nexa Collect

As per my knowledge, there are no clear guidelines from the government for a debt collector who wants to work from home. Since collection agencies fall under GLBA laws, they are subjected to the same strict laws as large financial institutions like banks. Here are suggestions that will help you maximize your compliance.

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Pay in Installments or Full: Which is Better?

Nexa Collect

The matter is closed, and there are no pestering reminder calls each month from a debt collector. Debt collectors are persistent callers, they get paid a commission on whatever you pay, and they will keep pestering you till the payment is made. . Peace of mind. Benefits of paying in installments.

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What Happens if you Ignore Debt Collection Calls

Nexa Collect

A debt collector has several ways to find your latest address, phone number, and employer information. If you do not dispute the debt within 30 days of the first contact made to you (through phone or letter or other permissible means), the debt is considered valid, and the debt collector can continue to contact you.

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Average Recovery Rate of a Collection Agency

Nexa Collect

Since all collection calls are recorded, it is important for the management/supervisor to randomly examine at least a few collection calls daily and discuss shortcomings with their debt collectors. They must have at least a few bilingual debt collectors in order to recover from people who prefer talking only in Spanish.

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Debt Collection Tactics Used by Professional Debt Collectors

Stevens Lloyd

Through the use of advanced debt recovery practices and their experience in the Aviation Industry, The Stevens-Lloyd Group recovered the whole amount which the debtor owed to GM Air $146,588.32. Debt Collectors Strategies: Collection Agency Communication. A debt collection agency will first contact the debtors anytime.