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To assist in ensuring quality and integrity within the debt collection industry, the Institute of Mercantile Agents was formed. Established in 1961, the Institute of Mercantile Agents Limited (IMA) represents collectors, investigators, process servers and repossession agents throughout Australia. Email: email@debtrecoveries.com.au.
A widespread fear of destroying client connections, a reliance on “handshake” agreements, and the perception that bad debts are inevitable are some other causes of poor credit management. Your best line of defence against debt is knowledge. appeared first on DebtRecoveries Australia. Keep your promise.
These often involve initiating legal proceedings against debtors intending to repossess, auction, and sell collaterals or executing payment orders to seize the debtor’s assets or income. Regardless of the outcome and the ultimate objective of recovery, multiple implications could potentially jeopardise the entire strategy.
Debt can also be secured using intellectual property, equity, and other soft debt. Missing payments on secured debt causes the creditor to repossess the property as recourse. The 2020s are sure to be filled with even more debt restructuring as businesses try to stay lean and compete. Indenture Agreement Violations.
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