Debt Collection Articles

7 Tips On Managing Your Money – Effective money management is an essential life skill that we should all learn. If you can manage money well then you will have more savings, fewer debts, and a good credit rating. Being able to manage your money well will give you a greater sense of control over your life. The more you know about your money, the better you will be able to manage it. Below are 7 tips on managing your money in an effective way. Create A Budget The first thing you should do to approach better money management is […]

Things to Take Note When Hiring A Debt Collector Service – No one should take debt collection taken for granted. Several businesses have debt collection every day, it could be unpaid service or unpaid bill and so on. There may be people who are postponing it forever and do not want to pay money. This is where hiring debt collector service is best to get deserving results or get your business going essentially. This is because you have to proactive in debt collection. Debt collection agencies or debt collectors are great resources to collect outstanding debt. Why hiring a debt collection service […]

What is Counted as Illegal Debt Collection? Debt collectors in Singapore are generally associated with being obnoxious, sometimes also scary while getting borrowers to pay. However, there are certain rules to which debt collectors need to adhere to while pursuing payment. The tactics used by debt collection agents must comply with the Fair Debt Collection Practices Act. The Fair Debt Collection Practices Act (FDCPA) was initiated for curbing abusive behaviors, but many debt collectors flout laws. Here are a few tactics that are illegal to use by debt collectors. Knowing what is counted as illegal debt collection helps you in fighting for […]

What Happens If A Company Cannot Pay Its Debts? Sometimes it becomes difficult for companies to pay their debts due to financial distress. Such a situation occurred in 2020 due to the outbreak of Covid-19 when companies all over the world were struggling to pay off company debts but failed. In this situation, it is crucial to know the options your company can avail of when your company can be insolvent. When a company becomes insolvent? When a company fails to pay its debts on the due date then it can become insolvent. In such a situation, the director of the company […]

How Can A Business Avoid Debts? To a certain extent, business debt is unavoidable, as it may be the only way you can expand purchase stock, or even finance your business. However, there’s a dark side to taking on too much debt that should be avoided. Avoiding debts, especially ones that are difficult to handle and can easily overwhelm, should be one of the primary concerns of any new or existing business. Avoid debts that can get out of control, especially if your business cannot meet sales targets. These texts can ultimately destroy any business. Here seven tips to help […]

What Is The Smartest Way To Pay Off Debts? Many people find themselves swimming in avoidable debt and as a result, they’re looking for the smartest ways to pay it off. Whether the debt is because of a car loan, mortgage, student loans, or even credit card debt. The first thing you need to do is to determine exactly how much debt you have and then plan to pay it off. So. what is the smartest way to pay off debts? Here are 10 smart steps! #1 Start with a budget Before you could ever consider paying off debts, he […]

Is Debt Collection Legal in Singapore? With the growing need for money among people in Singapore, there has been an increased uptake of both personal and business loans. Repeated delays in making payments have resulted in debt collection agencies standing up for the same for recovery. Some years back, debt collectors in Singapore could bang gates, cut off water and electricity supply for loan defaulters. Due to these cases, there were calls to impose legislation to start regulating the debt collection process. The regulations put in place provided a good foundation on how debt collectors should conduct themselves while not […]

What Happens if I ignore a Debt Collector? Ignore the debt collector at your own peril, as the truth is they will always be a step ahead of you. Debt collection is a business, and once you are in their hands, they will pursue you until they get an outcome, and it probably won’t be a good outcome for you. What is a Debt Collector? A debt collector is a professional Recovery Agent who usually gets paid based on results. If someone owes you money, and you are not getting any results when sending bills, and phoning them it is […]

What are the 7 qualities of a good debt collector? Hiring the right debt collection agency will increase your odds of recovering defaulting debts. Investing in an experienced and reputable debt collection firm will give you peace of mind, thus improving your concentration on other fruitful projects. The primary objective of a debt collecting agency is to recover debt whereas your main goal is to maximize profit. Therefore, avoid the do it yourself approach because you lack relevant skills and experience. Delinquent debts can reduce your rate of production in the long run. Choosing the right debt collection company is […]

Wondering what is the role of a debt collector? Business owners should consider hiring a reputable debt collection agency. Recently, due to stiff competition in this industry, it’s essential to hire a debt collector with a valid license and insurance cover. In addition, consider hiring a debt collection firm with more than five years of experience and reputation. The right debt collector will ensure you recover bad debts on time. This is essential because you’ obtain enough capital to expand your business. Avoid the do it yourself approach because there are essential guidelines to adhere to in the debt collection […]