In the dynamic arena of debt collection, the ability to secure early settlements is a game-changer for agencies and their clients alike. Early settlements not only expedite the recovery process, enhancing cash flow, but also significantly reduce the costs and complexities associated with drawn-out legal disputes. Moreover, they play a crucial role in maintaining positive […]
The rising tide of the cost-of-living crisis is creating a perfect storm for debt recovery professionals. On one hand, the financial strain on individuals and businesses is leading to an increase in debt defaults and insolvencies. On the other hand, ethical considerations and the need for sustainable recovery practices are more important than ever. So, […]
In the meticulous process of debt recovery, the accuracy of the information provided at the outset of a claim is paramount. Recent experiences have highlighted a common pitfall encountered by clients using the Debt-Claims Solicitors portal: the submission of claims with incorrect details for either the claimant or the defendant. This seemingly minor oversight can […]
Imagine a world where debt collection is faster, more accurate, and less invasive. A world where secure access to a debtor’s financial data allows for personalised payment plans, improved communication, and lower costs. This is the promise of Open Banking, a technological revolution poised to transform the debt recovery landscape. Open Banking grants consumers control […]
As the spectre of a potential recession looms, whispers of unease echo through finance departments. Debt recovery, the lifeblood of many businesses, faces increased challenges in a climate of economic uncertainty. Rising inflation, tightening belts, and shrinking budgets are the ominous clouds gathering on the horizon. For finance managers, the question burns bright: how do […]
The landscape of debt recovery is shifting underfoot, driven by the ever-evolving gears of artificial intelligence (AI). Finance teams find themselves at a crossroads: embrace AI’s efficiency and cost-cutting potential or resist machines’ encroachment into a traditionally human-centric domain. But the question remains: is AI friend or foe in the world of collecting outstanding debts? […]
Have you ever considered how your approach to due diligence could be the key factor in handling set aside applications in debt recovery? Understanding and preparing for set aside applications is essential in the intricate world of debt recovery. These applications, which can reopen previously settled cases, often hinge on the level of due diligence […]
Within the complex world of debt recovery, settlements frequently stand out as a symbol of practicality and effectiveness. We have observed a significant trend towards settlements, particularly in their ability to reduce costs and streamline the resolution process. This blog delves into the importance of settlements in debt recovery and why they are frequently the […]
A recent success story from one of our clients at Debt-Claims Solicitors highlights the remarkable effectiveness of using our online portal to send out an LBA. This case underscores the value of prompt and professional debt recovery actions and demonstrates the power of leveraging the right tools in the process. The Power of a Well-Executed […]
