Debt Collection Stages: How Collectors Think?
Effective debt collection is crucial for the financial health of businesses. It involves systematically navigating through various debt collection stages to recover outstanding debts. The significance lies in maintaining cash flow, minimizing financial risks, and
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Tips to align your collection and recovery strategies
Effective debt collection and recovery strategies are essential for businesses to maintain financial stability and ensure sustained growth. In the Indian business diverse economic factors and cultural nuances play a significant role and here aligning
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What is DRA certification?
The Debt Recovery Agent (DRA) Exam, conducted by the Indian Institute of Banking & Finance (IIBF), stands as a crucial step for individuals aspiring to work as Debt Recovery Agents in India. This comprehensive certification
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Legal Insights for Head of Collections: Navigating Financial Debt Recovery
The role of a Head of Collections has gained paramount importance in facilitating efficient debt recovery processes. With non-performing assets (NPAs) posing significant challenges to the banking sector, the need for adept debt recovery strategies
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SaaS-ification for faster debt recovery
Debt recovery is a critical process for any business that extends credit to its customers. However, the traditional debt collection process can be time-consuming and resource-intensive, often resulting in delayed payments and lost revenue. As
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Tips to manage multi-channel debt collection
What is Multi-Channel Debt Collection? Multi-channel debt collection refers to the use of various communication channels to contact debtors and collect overdue payments. These communication channels may include phone calls, letters, emails, text messages, and
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A Guide to Bad Debt Recovery Process
What is Bad Debt Recovery? When the payment received for a loan cannot be collected, it can be called a bad debt. Every organization or business goes through unpaid customer accounts, where they cannot collect
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Laws that govern debt recovery in India
Debt recovery is a crucial aspect of the financial sector and is governed by a set of laws in India. These laws aim to provide a structured process for creditors to recover their outstanding debts
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