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Government is Making Debt Recovery a lot Harder

Nexa Collect

The US government has thrown a slew of laws on collection agencies, making bad-debt recovery harder and costlier. Lower recoveries mean, low recoveries and extensive loss for businesses and doctors. As per FTC, starting June 9, 2023, all collection agencies will be treated as financial institutions.

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ImpactAI Solutions, a Division of CSS IMPACT, Unveils Groundbreaking Interactive Voice AI Smart Collectors to Transform Debt Collection

Account Recovery

Ivan can be easily added to your website or portal with a Call Me button, capturing all communication consentsprior Ivan calls the debtor. With Ava and Ivan, we deliver a fully autonomous yet remarkably human-like experience that scales up your workforce, enhances compliance, and boosts customer satisfaction.

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Can Debtors Be Legally Forced To Pay Debt With Their Cryptocurrency

Nexa Collect

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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Continuing the fight to get paid with post-judgment asset discovery

Collections Law

Securing a judgment against a debtor is a significant victory, but the battle doesnt end there. Collecting on that judgment requires finding the money, sometimes by uncovering the debtors assets. Asset discovery helps locate the debtors assets, ensuring you can take appropriate legal action to satisfy the debt.

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Impact of The GLBA on Collection Agencies

Nexa Collect

As per FTC, starting June 9, 2023 all collection agencies will be treated as financial institutions. The GLB Privacy Rule only applies to nonpublic personal information (NPI), including (Debtor) Name, Address, Income, Social Security number. None of us want our information shared with companies we do not approve of.

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Reshaping Debt Collections with the QCR Accelerator

Qualco

THE NEW ERA OF CONSUMER LENDING In today ’ s rapidly evolving financial landscape, the significant increase in consumer lending presents new challenges for financial institutions, particularly in managing collections. INTRODUCING QCR ACCELERATOR The QCR Accelerator is a collections solution developed by QUALCO.

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Integrating Judicial and Extrajudicial Strategies in Portfolio Management

Qualco

Managing loan portfolios becomes a labyrinth for financial institutions in a financial ecosystem marked by unrelenting complexity and constant change. Consequently, financial institutions operate within an economy marked by contraction and sustained inflationary pressures.