A debt collection company that works on a no recovery, no fee collecting basis has the highest possible motivation to collect on a business’ delinquent accounts. This is because they only receive compensation if they successfully achieve their objective. Other collection agencies will be paid for performing their services regardless of the [Read Full Story]
The Office of Fair Trading (OFT) is drawing up new debt collection guidance, making it clear that its rules apply to all businesses involved in debt recovery, ranging from lenders to debt collection firms and debt buyers, as well as law firms and tracing agents. It also stressed the responsibility creditors had to ensure that [Read Full Story]
As a payday lender, I found out the hard way that being a Debt Collector yourself in Arkansas is time consuming, exasperating and often ineffectual. As the owner of 4 loan stores, I wished I had outsourced my loans to a Collection Agency sooner rather than later. My employees and I had done our level [Read Full Story]
