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To address these issues, our latest blog explores the QCR Accelerator, a state-of-the-art , plug-and-play collection software specifically designed to streamline and automate debtrecovery processes. HURDLES IN DEBTRECOVERY Financial institutions are encountering considerable difficulties in collecti ons concerning unsecured loans.
State tax agencies, however, might still need to obtain a Writ of Garnishment and have a bank levy placed on the debtor. While there might be property debt situations that warrant garnishment, it’s more often used for unsecureddebt, or debt that isn’t backed by any collateral.
Businesses restructuring debt typically do so because they’re having trouble meeting obligations, and it goes both ways. Many businesses are both debtors and creditors. That’s why it behooves everyone to understand debt restructuring.
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