Hudson Weir

JANUARY 10, 2025

In this article, well take a closer look at debt recovery options, including the role of a letter before action also known as an LBA or letter before claim. For any company owing money to the government, we recommend reading our HMRC debt management and collection guide.

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UK debt collections

JUNE 23, 2022

Small Business Debt Recovery is becoming more important to cash flow as a UK recession looms. One way to combat this in the short term is by Small Business debt recovery activities being on the front foot. Post pandemic ‘orders’ are drying up and show a drop in order volumes across the board.

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Nexa Collect

APRIL 11, 2021

The debt collection industry has been through one of its most difficult periods in modern history, and the recovery looks slow and prolonged. Performance of Collection Agencies during Covid-19 Pandemic. Economic downturns create a huge opportunity for the debt collection industry.

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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

JUNE 10, 2023

AI, or artificial intelligence, has the potential to impact the field of debt collection significantly. Debt collection involves pursuing individuals or businesses to repay outstanding debts. Lowering Collection Costs: Human debt collectors take a significant percentage of all money recovered by them.

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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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Nexa Collect

MARCH 12, 2021

Debt collection agencies in PR include Kinum , TSI , CICA, ILCA and Professional recoveries. Spanish and English-speaking debt collectors are required for Puerto Rico debt collection. Need a Collection Agency in PR? Local debt collectors ). Contact us. 10, § 981p). 981p (12)).

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Nexa Collect

JANUARY 19, 2022

If you think that ignoring written demands and calls from a collection agency will spare you from all the consequences, then you are wrong. A debt collector has several ways to find your latest address, phone number, and employer information. Ignoring a debt collector’s calls can be quite unfavorable.

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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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UK debt collections

SEPTEMBER 6, 2024

A debt advice charity has urged Warrington Borough Council to improve debt recovery methods after bailiffs were instructed 6,432 times in a year. Now National Debtline has called for improvements to debt collection practices and is urging Warrington residents who are struggling to seek free debt advice.

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Nexa Collect

OCTOBER 2, 2020

Their customers can be a small business, government, large corporates as well as private homeowners. 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. Need a Collection Agency? High Recovery Rate.

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Taurus Collect

MAY 18, 2023

A professional debt recovery service , however, can save the day! With their specialised knowledge of the laws governing this complex process, they offer tremendous advantages that help businesses reclaim their rightful revenue and make it work for them. That’s where professional debt recovery services come in.

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UK debt collections

JULY 22, 2021

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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Nexa Collect

JUNE 20, 2020

Business discussions often revolve around making and saving money, cutting costs and building upon wealth, but fewer tackle one of the embarrassing experiences of being in business: collecting money owed. What happens when they dread pursuing collections because it’s become their full-time job? Serving Nationwide. Contact us .

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UK debt collections

JANUARY 10, 2022

The Federation of Small Businesses (FSB) has called for urgent government intervention to improve the way small Businesses are paid. This sentiment was echoed by Chris Spencer from leading Business Debt Collection Agency Federal Management. We specialise in delivering Professional Debt Recovery for Small Businesses.

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Qualco

OCTOBER 16, 2023

In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. To find out more on how Qualco’s panel and asset management platform can help you optimise collections, contact us. You can view it here. Download it here.

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Nexa Collect

SEPTEMBER 15, 2020

The current COVID-19 pandemic and the drastic measures that governments undertook to slow the disease’s spread have devastated the global economy. Need a Collection Agency – Serving Nationwide? High Recovery rate. Unemployment climbed precipitously in the pandemic’s early months. Contact Us.

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UK debt collections

FEBRUARY 4, 2021

Leading B2B Debt Collection Experts Federal Management have warned of a ‘tsunami of unpaid business invoices’ over the coming year. A spokesman for the well established Commercial Debt Recovery firm advised that despite many Small Businesses being in Financial Dire straits, they are still reluctant to act. “At

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Debt Recoveries

JUNE 25, 2023

There are several obstacles that business owners must overcome in order to operate a successful company in Australia, and one of the most typical of these is debt collection. A thorough credit agreement helps to establish expectations up front and offers a solid framework for recovering debts in the event of non-payment. #2

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Debt RR

SEPTEMBER 27, 2020

The good news is that it is your right to collect on debts as long as you follow the right legal procedures. If you operate a B2B model, you are required to follow business debt collection laws. What are Business Debt Collection Laws? The business debt collection laws protect them.

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Credits Inc

MAY 17, 2019

A growing concern for the government is the steady increase of the U.S. public debt. Recovering delinquent debt has become necessary for the government to continue to provide services to the public, stay within designated federal budget guidelines, and fund various programs. government debt collection agency.

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UK debt collections

FEBRUARY 16, 2024

Some people believe a recession is lucrative for the debt collection industry. On the face of it, people make the assumption that it is boom time for the debt collection sector. Contrary to popular belief, a recession does not bring any benefits to the debt collection sector at all usually.

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Collection Industry News

JUNE 12, 2023

Introduction: Managing debt is an essential aspect of running a business, and effective debt collection is crucial for maintaining healthy cash flow and financial stability. Implementing proper debt collection techniques can help businesses recover outstanding payments while maintaining positive relationships with clients.

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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.

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True Accord

JANUARY 31, 2024

of consumers take no action after a collection call. Let’s look at the challenges around right-party contact rates, consumer complaints, and the timely factors that make the challenges more detrimental to your business’s late-stage debt recovery. Even if you can get the right customer on the phone, studies show 49.5%

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UK debt collections

DECEMBER 2, 2020

When tax bills go unpaid, the HMRC has the option to utilise external private debt collection agencies to help chase the debts on behalf of the crown. The HMRC uses a number of Debt Collection Agencies on its behalf. Companies then start dunning and chase individuals that have outstanding tax liabilities.

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CSA

JANUARY 13, 2022

Governments of all complexions have attempted to improve this situation ? So many firms will naturally want to consider appointing a third-party to help collect what?s Collection agency contact can sometimes be the spur to a third-party to engage and pay, and also act as an arbiter if relations are strained.

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Taurus Collect

OCTOBER 30, 2023

Understanding the art of debt collection can be a challenging task for any business, especially when the debtor refuses to pay despite many reminders. In such situations, engaging a collections agency becomes inevitable. The Late Payment of Commercial Debts Act (1998) is one crucial law that you should be well-versed in.

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Taurus Collect

MAY 2, 2022

However, hiring an external agency to assist your business with debt recovery services , receivables, and charged-off balances is an incredible way to overcome these obstacles while improving collection rates. Early recovery of debts. Expert tools for recovery. Experience. Legal protection.

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Credit Management Company

JANUARY 25, 2022

Business to business debt collection can be hard to understand at first. Check out this guide on who should use commercial debt collections. Even when you try to send customer debt collection requests, they have fallen on black days. This type of debt collection can be hard to understand at first.

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Taurus Collect

AUGUST 15, 2023

Navigating the intricate world of debt collection can be a challenging task for businesses of all sizes. That’s why outsourcing debt collection services , particularly in key areas such as Manchester, can be the game-changer your business needs.

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Collection Industry News

SEPTEMBER 8, 2020

Article 6 Investment Law 2020 stipulates that “Debt Collection Service” is one of the businesses that are prohibited from investment. This regulation will come into force on 1 January 2021, whereby service contracts for debt collection concluded before that will be invalidated. of these people.

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UK debt collections

MARCH 24, 2021

The HMRC is now facing its biggest debt collection challenge in history. Debt owed to the HMRC from UK Businesses and tax payers has now trebled to reach £65.5bn from £19.3bn in 2019. An estimated £26.6bn of that debt is sufficiently in arrears to allow it to be subject to immediate HMRC debt collection action.

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Nexa Collect

OCTOBER 31, 2022

It is recommended to assign accounts for collections roughly when they are between 60-90 days past due for a maximum recovery rate. The recovery rate dips as the account gets old. The following chart demonstrates the relationship between the Account-age and Recovery-Rate. Recovery Rate. Government.

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Burt and Associates

APRIL 1, 2024

Tackling Business Debt Collection in 2024: Hurdles and Game Plans for Entrepreneurs One constant challenge remains for business owners – getting paid on time. As we head into 2024, let’s look at the major debt collection roadblocks entrepreneurs will face, along with some essential tips for navigating this tricky territory.

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Debt Recoveries

OCTOBER 18, 2020

Many accounting software packages offer a full range of features, such as financial reporting, payroll management, and billing and even debt collection. You can also read Proactive Debt Collection to Improve Cash Flow. It’s also important to outsource your debts quickly. Avoid Loans for your Business.

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UK debt collections

JUNE 3, 2024

Companies are expected to pay most invoices within 30 days to their small suppliers, according to the Prompt Payment Code set by a government body representing small businesses. It comes as a growing number of small businesses called on the Government to provide urgent support to prevent them buckling under the energy crisis.

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