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Tag Archives: debts

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Mexico Fines Debt Collectors $12 Million for Harassment

The Mexican agency for protecting bank customers has fined debt collectors for harassment.

Debt collection agencies have been fined approximately $12 million.

Most of the complaints to the Mexican regulator was due to people getting calls for debts they were not aware of.

Read More..

Source: ABC news

August 9, 2015Debt Collection, NewsBy GCS Blog Admin

Data insights optimises debt collection in South Africa

South Africa has a spending culture with low savings levels, which is evident in many segments of the population. With a low growth rate and a tough economic environment in South Africa, consumers have turned to accessible unsecured credit facilities. Data analytics can be used to predict the best possible date to collect debts from…

February 9, 2015Debt Collection, NewsBy GCS Blog Admin

Russian lawmaker proposes curbing foreign currency mortgages

A State Duma lawmaker and member of the ruling party in Russia has submitted a bill in parliament to introduce a temporary ban on the collection of mortgage debts in foreign currency. This bill has been drafted to prevent mass default of individual clients and public tension, protection of consumer rights and prevent the real…

February 2, 2015Debt Collection, NewsBy GCS Blog Admin

New debt collection law in Thailand aims to reel in loan sharks – Bangkok Post

It is a common trait for creditors eg.financial instituions to hire third parties to collect debts. The rapid growth of the debt collection industry has caused several issues due to lack of guidelines on the procedures and ethics. The Financial Consumer Protection Centre in Thailand has received numerous complaints of unethical and illegal debt collection…

November 2, 2014Debt Collection, NewsBy GCS Blog Admin

Greece Interior ministry says no to debt collection agencies

Unpaid social security contributions has been mounting to the tune of millions of euros in Greece. The International Monetary Fund has called upon the Greek government to have a private debt collection agency chase these unpaid contributions. But the Greek Interior Ministry has refused to cooperate with IMF despite the debts spiraling out of control. Read…

August 15, 2014Debt CollectionBy GCS Blog Admin

Queensland Government intends to handover debt collection to the private sector

The Queensland Government has offered the management of debts held by the State Penalties Enforcement Registry to a private broker. This broker will engage private debt collectors in a tender that closes on Friday. The Treasurer has said there would be legislative changes to accommodate this. Unpaid fines have been steadily rising over the last…

August 7, 2014Debt Collection, NewsBy GCS Blog Admin

How to recover debts using litigation

Money

 

Chasing debts through courts is a nightmare for many small business owners. It means taking away time and money from the business and does not guarantee results.

But for anyone who runs a small business it is essential to understand how it works.

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February 14, 2014Debt CollectionBy GCS Blog Admin
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