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Ultimately, they can also hire a debtcollectionagency to pursue the money you owe to them. Read on to understand how to respond when your debt is sent to collections. You may panic upon learning that there is a debtcollectionagency after you to retrieve the amount you owe to your creditors.
To identify the best solution for Non-Performing Loans (NPLs) , stakeholders such as lenders, servicers, and debtcollectionagencies need to deploy all available tools, starting a thorough appraisal of the NPL portfolio via a dedicated Workout Unit. Several member nations of the European Union have adopted this approach.
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