article thumbnail

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.

article thumbnail

TrueAccord’s Digital-First Engagement Out-Performs Call-and-Collect for National Bank’s Late-Stage Debt Recovery

True Accord

After three decades of providing exceptional customer experience, a leading national bank recognized a lot has changed in the world of personal banking, technology, compliance, and, in turn, debt collection.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

InDebted Appoints Kristyn Leffler as Chief Product Officer

Account Recovery

By consolidating AI-driven strategy, omnichannel communication and a dedicated customer experience team into one solution, InDebted makes the experience of debt collection smoother and more human.

article thumbnail

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.

article thumbnail

CCJ Enforcement is extremely ‘slow and ineffective’ says Judge

UK debt collections

“The experience of users with the process of enforcement through the county court is that it is extremely slow and ineffective” CCJ Enforcement options The County Court is designed to handle civil cases including Debt Recovery.

article thumbnail

Banks hire 100’s of Debt Collection Agents ahead of Covid Loan repayments

UK debt collections

The UK’s leading High Street banks are strengthening their Debt Collection teams ahead of the emergency covid loan defaults. The UK’s four largest banks are said to have hired over 750 new Debt Collection staff to their debt recovery units in a major challenge facing them.

article thumbnail

Why should the Credit Reporting of Bad Debt be Delayed?

Nexa Collect

Simple Answer: Once the bad debt entry hits the credit report, the fear in the debtor’s mind is gone. You just used the most effective tool in debt recovery before giving enough time to the debtor to settle your unpaid bills. The debtor thinks “ What worse can happen?