Nexa Collect

JUNE 18, 2023

A medical collection agency will send written demands and make persistent phone calls to your patients. Since debt collectors are on the phone all day long, they know every tactic to get paid. Since debt collectors are on the phone all day long, they know every tactic to get paid. Need a Medical Collection Agency?

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Account Recovery

FEBRUARY 7, 2025

Redefining AI-Driven Collection ImpactAI presents Ivan the Interactive Smart AI Collector, an advanced AI-driven collector designed to optimize debt collections efforts, Ava the AI Client Services Agent, dedicated to enhancing client services interactions.

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Collections Debt Recovery Financial Institution Debt Management 130

Nexa Collect

MARCH 13, 2023

Large clients often assign hundreds ( even thousands) of accounts to a collection agency in one go. Suppose a client submits a batch of 1000 accounts to the collection agency. At least a few hundred concerned debtors will begin calling the client directly ( to pay, dispute the debt, complain, or other reasons).

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Nexa Collect

DECEMBER 27, 2020

It is a common practice for police and regional transport authorities to hire a collection agency to recover these unpaid debts. Need a Collection Agency for Unpaid Tickets? Courts and law enforcement agencies charge the original fine plus late penalties once an account is forwarded to collections.

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Nexa Collect

AUGUST 17, 2022

You can legally hire more than one collection agency at a time, provided you do not assign the same account to multiple collection agencies. If one debtor starts getting contacted by different agencies, you can be sued for harassment. . Then each collection agency has its own way of recovering the debt.

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Nexa Collect

MAY 16, 2021

A collection agency can work with your employee professionally and legally to ensure that you get your money back. Their recovery efforts will include sending demand notices, calls from a professional debt collector, and if the amount is substantial, then forward that account to an experienced attorney. Contact us.

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Nexa Collect

JANUARY 25, 2023

Business and medical professionals seeking to hire a collection agency always wonder if the agency they hire is ethical or if it may damage their reputation. Here are some valuable tips on how collection agencies can maintain a good reputation online and offline.

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Nexa Collect

JANUARY 24, 2022

The best time to assign an account to a collection agency is when the debt is right around 90 days past due. You have given your debtor at least three billing cycles to pay the bill and resolve any billing disputes that may have occurred. Paying your bill is clearly not a priority in your debtor’s mind by now. (

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Nexa Collect

JUNE 19, 2020

These receivables are usually B2B accounts that require commercial debt collection. A collection agency with its three-step collection process can assist businesses to recover money in an amicable manner. Need a collections agency for your business: Contact us. No recovery-No fees.

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Nexa Collect

FEBRUARY 3, 2022

An average collection agency will recover about 20% of the total debt assigned. Some clients may get a 100% recovery rate, for others it could very well be 0%. Here are the most important factors which decide how much a collection agency will collect for you: 1.

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Nexa Collect

MARCH 26, 2022

The first step in shortlisting a collection agency is to ask them to submit a Request-For-Proposal (RFP) so that you can pick the best collection agency at the best price. Is your collection agency nationally licensed or not? (If Do you provide monthly collection status reports for all accounts?

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Nexa Collect

JANUARY 12, 2022

If you plan to outsource your accounts receivable to an aggressive collection agency, then kindly read this article and be aware of all the risks you are taking. Times have changed when collectors could easily put aggressive pressure on debtors or use forceful tactics to recover your money, without any repercussions.

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Nexa Collect

JANUARY 16, 2023

People tend to spend more money on basic essentials over pending bills like medical debt and student debt. . The more you defer working on your overdue bills, the financial situation of your customers/debtors will deteriorate. Your customer likely has other debts besides yours. Contact us.

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Debt Recovery Credit Card Debt Collection Agencies Collections Agency 130

Nexa Collect

JULY 2, 2020

Need a Collection Agency for your Lab: Contact us. What causes these debts? . Many factors can cause these debts from the patient’s end but there are a few specific things about medical testing lab bills specifically that make them difficult. Written Notices sent by a Collection Agency. Conclusion .

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Nexa Collect

OCTOBER 2, 2020

Not getting paid on time can quickly restrict your cash flow, that’s why hiring a collection agency when an account is 60 days past due is absolutely the right choice. A collection agency can offer a flat-fee collection package or contingency based collections. Need a Collection Agency?

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UK debt collections

APRIL 12, 2022

A big spike in Debt Recovery action is expected following the end of temporary measures introduced by the government to help bolster Small Businesses during the pandemic. In the coming months, it is expected that a lot of companies will be needing debt recovery help to recover what they are owed.

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Debt Recovery Debtor Government Creditors 93

Nexa Collect

JUNE 28, 2022

Collection agencies offer two types of collection services to their clients. In the Fixed fee service a collection agency sends multiple written demands only. In the Contingency service one written debt validation notice is sent followed by collection calls from an experienced debt collector.

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Nexa Collect

NOVEMBER 26, 2022

As per FTC, starting June 9, 2023 all collection agencies will be treated as financial institutions. This means all collection agencies must secure consumer data nearly the same way as banks. Failure to comply with GLBA can have severe consequences for the collection agency, especially the owners and/or the CEO.

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UK debt collections

MARCH 16, 2022

Businesses using debt as a means to acquire additional assets is nothing new yet recent data revealed that 52% of UK businesses are now being crippled by toxic debts. A Business having debts of its own can sometimes be inevitable but this can often be caused by a Business not actively chasing its own debtors.

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Debt Recovery Collection Agencies Collections Agency Collections 95

Nexa Collect

APRIL 27, 2021

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?

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Nexa Collect

NOVEMBER 1, 2021

Individuals can be legally forced to pay their debts with their cryptocurrency, but the creditor must have a judgment which states that the debtor is obligated to pay off the debt, including any cryptocurrency they own. Knowing whether or not the debtor owns crypto like bitcoin is of course a challenge.

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Nexa Collect

FEBRUARY 24, 2022

To improve your chances of getting paid during inflation, it is important to recover your share before your debtor’s financial condition deteriorates further. So whenever your AR is over 60-90 days past due, hire experts – Hire a collection agency.

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Debt Recovery Collection Agencies Collections Agency Debtor 100

Taurus Collect

JULY 14, 2022

Moreover, the older the obligations get, the harder it is to collect the payment. However, hiring a reputed debt collection agency will significantly help you as they will use multiple methods to locate your debtors and help you effectively gather your amounts. Phone books. State motor vehicle department.

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Taurus Collect

MARCH 5, 2025

It signals to the debtor that you are serious about recovering the funds, which can prompt them to settle the debt promptly. This allows the debtor to pay in smaller, manageable amounts while ensuring you eventually recover the full amount. If you need professional assistance, Taurus Collections is here to help.

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Debt RR

JULY 2, 2024

Enter commercial collection agencies—specialized firms that can play a pivotal role in optimizing your AR functions. Here’s why and how partnering with a commercial collection agency can be a game-changer for your business. What is a Commercial Collection Agency?

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Commercial Collection Collection Agencies Collections Agency Debt Recovery 70

Nexa Collect

SEPTEMBER 23, 2021

Several collection agencies have been using electronic mediums like emails, social media platforms, and SMS to contact debtors. This approach is significantly different from traditional collection calls and letters. Therefore many collection agencies use a blend of traditional and electronic mediums.

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UK debt collections

JULY 29, 2022

In a meeting of the West Midlands Ambulance trust board (WMAS), members agreed to write off a whopping £339,000 owed to the service detailed in a report following debt recovery failures. As reported in the Shropshire star, TNC Debt Collection Agency had provided a no win no fee debt collection service to the Ambulance trust.

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Nexa Collect

JUNE 10, 2023

Here are some ways AI can be used in debt collections: Automated Communication: AI-powered chatbots can handle initial interactions with debtors, engage in conversations, and answer frequently asked questions. Lowering Collection Costs: Human debt collectors take a significant percentage of all money recovered by them.

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JMA

MAY 16, 2024

The likelihood of recovering debt depends on several factors, ranging from the debtor’s financial situation to the strategies employed by the business or debt collection agency. Understanding these factors can help businesses increase their chances of successful debt recovery.

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Payment Savvy

JANUARY 20, 2021

The collection agency faces many challenges, including ever-changing technology and tightening oversight. Indeed, even locating a debtor and determining which communication method is most successful can be an overwhelming task. Both of these items make the collection process complicated, cumbersome, and inconvenient.

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Taurus Collect

MAY 20, 2022

Almost every company, from small businesses to enterprise organisations, seeks partnerships with debt collecting agencies when their past-due account receivables begin to mount. However, running your business without worrying about uncollected debt is challenging. Unsuccessful debt recovery.

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Nexa Collect

FEBRUARY 14, 2022

By law, all debt collection calls initiated by a collection agency must be recorded and preserved for three years after the date of the call. The primary objective is to check if there was a violation of debt collection laws (FDCPA laws), and those recordings can be reviewed if there is a need. .

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Taurus Collect

APRIL 9, 2024

In this article, we explore eight unmistakable signs that indicate it might be time for your business to consider partnering with a debt collection agency that operates on this principle, ensuring you only pay for results, not promises. These agencies specialise in recovering debts for other businesses or individuals.

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Collection Agencies Collections Agency Debt Recovery Collections 52

Taurus Collect

DECEMBER 18, 2023

This is where a commercial debt collection agency comes into play. One of the key trends in this industry is the ‘no collection no fee debt collection’ approach, a cost-effective solution for businesses grappling with unpaid debts. Stay tuned as we delve into this crucial topic.

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Collection Agencies Collections Agency Debt Recovery Collections 52

Stevens Lloyd

DECEMBER 13, 2018

You have initiated a lawsuit and won a Default Judgment against the debtor. Judgments are worthless unless you can locate and garnish the debtor’s assets, however. Extracting money from judgments necessitates obtaining significant information about the debtor as it relates to their assets. So now what ?

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Hudson Weir

DECEMBER 10, 2024

In this blog, well take a closer look at the debt recovery options, including charging orders. Debt recovery options for unpaid invoices Ultimately, there are several steps that any creditor should take before considering a charging order, which is a court-issued and therefore, very serious. What is a charging order?

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Nexa Collect

MARCH 22, 2022

By law, all debt collectors are required to provide at least 30 days to the debtor/consumer to dispute the debt, after the consumer receives (or is assumed to receive) the validation information. Most collection agencies will add about additional 2 weeks to account for mailing delays and holidays.

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