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SoloSuit, a legal tech startup helping consumers resolve debt collection lawsuits, has named Attorney Yale R. Levy, founder of Levy & Associates, LLC, a multi-state collection law firm, and former President of the National Creditors Bar Association (NCBA), brings decades of debt collection expertise to the company.
Any business that wants to have an impact, whether a medical clinic, a small retail store or even a debt collectionagency, will need to deeply understand their industry to find precisely who their market is. Small businesses and startups often don’t have the technical and financial means to manage database solutions.
Debt collection can’t miss out on this digital revolution. Fintech startups have started jumping into the collections and recoveries fray. Here are four major ways that technology-driven companies are redefining the collections industry. Traditional debt collectionagencies primarily contact consumers over the phone.
Navigating the financial challenges of running a startup can be a daunting task, especially when it comes to managing receivables. In the UK, an innovative approach offered by many a debt collector is the ‘no win, no fee’ model, providing a risk-free solution for startups to pursue owed money.
Seeking External Expertise Finally, don’t hesitate to seek external expertise to improve your credit and collections processes further. This could involve consulting with financial advisors or hiring specialised credit and collectionsagencies. Ready to take your credit and collections process to the next level?
Before taking out a loan, make sure to look for other options first, such as crowdfunding or startup incubators. You are an expert in your field and similarly, there are great debt collectionagencies that collect debts and are good at it, so use them. Do a Budget and Stick to It.
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