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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.

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What Are The Common Problems Faced by the Debt Collection Agents?

Taurus Collect

Thus, timely debt collection is crucial for every business. Moreover, debt recovery is directly associated with your credit score. Therefore, it is vital to have a robust debt collection strategy to enable you to stabilise your cash flow and acquire money from your debtors without hampering your business relationships.

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How to Collect Debts in Preparation for EOFY

Debt Recoveries

Recovering unpaid debts can be a time-consuming and expensive process, which often requires expertise and the right tools that most companies lack. As a debt collection expert, it’s evident that outsourcing debt recovery to a professional debt collection agent has become increasingly popular among smart companies.

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Toll fine Debt Collection letters are ‘intimidating and misleading’

UK debt collections

Letters being sent by a Debt Collection Agency to drivers who fail to pail Tyne Tunnel fees are “initimidating and misleading” debt charities have warned. The Debt Collection letters advise of potential fines and even criminal convictions. The initial penalty is £60 on top of the original £1.90

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Compliance Digest – August 19

Account Recovery

Bill Banning Social Media Debt Collection Passes N.Y. Kathy Hochul, that if signed, would prohibit the use of social media platforms to collect debts, for creditors or the collection agents working on their behalf. Collection agencies must be prepared to handle an increase More details here.

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Compliance Digest – August 19

Account Recovery

Bill Banning Social Media Debt Collection Passes N.Y. Kathy Hochul, that if signed, would prohibit the use of social media platforms to collect debts, for creditors or the collection agents working on their behalf. Collection agencies must be prepared to handle an increase More details here.

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Debt Collection Email Templates To Help You Collect Debts Faster

Debt Recoveries

Let’s face it, snail mail is dead, so your internal debt collection processes should start with some good debt collection email templates. So here are 3 debt collection templates that are guaranteed to get your customer to sit up and take notice: 1. Forget about snail mail. Pre-Due Reminder Email.