What to Expect When Your Debt Goes to Collection

debt goes for collection

Knowing your debt is sent to collections can be stressful. However, there is nothing to be stressed about. Many people miss out on payments every once in a while due to financial struggles. In such cases, the creditor can send your debt to a collection agency for faster recovery. When that happens, panicking or not…

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5 Things Debt Collectors Are Forbidden to Do

Debt Collectors

We know debt collectors for being rude, annoying, and sometimes downright scary when talking to debtors. They can use any technique or even threaten the debtor into paying up. To protect consumers against such atrocities, the government created several federal laws. These laws forbid debt collectors from using certain methods on debtors to make them…

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6 Resources Debt Collectors Can Use To Find You

Debt Collectors

In the digital age, it is certainly impossible to hide your whereabouts from debt collectors. Even if you don’t provide the agency with your number or other contact information, they can still find you. Debt collection agencies use several legal modes to gather information on you. If you are late on your EMIs, the best…

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Handling Debt Collection Calls: Do’s and Don’ts

Handling Debt Collection Calls

Receiving a debt collection call can easily derail and overwhelm you. However, if you get frightened or emotional on the call, you may say the wrong things, leading to trouble later. Knowing the dos and don’ts of handling a debt collection call is essential to prevent such a situation. Here’s what you need to know…

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How to Protect Against Phoney Debt Collectors and Scams

Debt Collectors

After the pandemic, the number of scams that siphon money off people have increased significantly in the UK. According to Lloyds Bank, the advanced fee scam has doubled over the year, and victims lost an average of 200 pounds. Debt collection fraud is becoming very common and can happen to anyone. Knowing how to protect…

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Advantages of Using A Debt Collection Agency

Why to use a debt collection agency

A steady cash inflow is critical to running a business. A stable influx of cash is only possible when your invoices are paid on time. But that rarely happens in the real world. In reality, customers often delay their invoices or end up not paying at all. That’s when a debt collection agency can swoop…

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Top 6 Debt Collection Tips for Small Business Owners

DebtCo Finance debt

An unpaid invoice is probably the worst nightmare for any business. It hampers cash inflow, productivity, and eventually, the growth of your business. However, unpaid invoices are far more common than you know in business. It is challenging for small businesses to deal with debt with minimal resources and tight budgets. If you are worried…

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Debt Collection FAQs

DebtCo FAQ

One call ‌no one wishes to attend is often from a debt collector. However, it is more common than you know for people not to pay their debts on time and receive a call from collections. If you are in such a situation, there is nothing to worry about. Knowing more about debt collection and…

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How Can Digital Debt Collection Spur Fintech Success?

debt collection software

Digital transformation is changing how multiple industries function today. Finance is one of the industries that has significantly transformed in the past few years due to digitization. Debt collection, a big part of the financial industry, is also overthrowing traditional methods and moving towards digital debt collection. AI debt collection and insight-based collection methods are…

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