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The debtcollection process involves recovering debts from the borrower who has initially failed to repay or recover payments on accounts that are past their due date. When asked about “what collection agencies do?”, most people tend to think of a debtcollector trying to contact debtors about some unresolved debts.
A debtcollector might sound like a character from a Charles Dickens novel, but if you’ve been contacted by one, you know they’re very much a reality of modern financial life. So, what exactly is a debtcollector? What Is a DebtCollector? Why Are They Contacting Me?
How can debtcollectors avoid liability for the conduct of others? For example, generally speaking, the Act applies only to “debtcollectors” who regularly attempt to collectdebts that are “due another.” or an assignee of a debt, as long as the debt was not in default at the time it was assigned.”).
In such circumstances, resorting to a commercial debtcollection agency becomes not just an option, but a necessity. A popular choice among UK businesses is a “ No Cure No Pay ” debtcollection service. This model ensures that you only pay if the agency successfully retrieves your debts.
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