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India Debt Collection Business – Scenario and Potential
The debt collection business is a relatively new concept in India. Like many modern tools, this business was also introduced to India by foreign businesses who came to India in horde in early 90’s and brought with them myriad modern tools, practices and systems. Like other sectors, banking also witnessed a large scale foreign firms setting up their operations in India. Retail consumer loans became an important product in the portfolio of the banking industry. Easy availability of credit also bought with it the problem of payment defaults, which eventually led to the emergence of debt collection agencies.

Other debt collection agencies Related Articles

India Debt Collection Business – Scenario and Potential
The debt collection business is a relatively new concept in India. Like many modern tools, this business was also introduced to India by foreign businesses who came to India in horde in early 90’s and brought with them myriad modern tools, practices and systems. Like other sectors, banking also witnessed a large scale foreign firms setting up their operations in India. Retail consumer loans became an important product in the portfolio of the banking industry. Easy availability of credit also bought with it the problem of payment defaults, which eventually led to the emergence of debt collection agencies.

Credit Alliance Group reports an increase in complaints to the FTC about creditor harrassment calls
According to the AP report, almost 39 percent of Federal Trade Commission complaints cited demands to pay debts that weren’t owed or payments that were more than legally allowed. Credit Alliance Group instructs their clients on how to file complaints against creditors who are in violations of the Fair Debt Collection Practices Act. Credit Alliance Group is striving to set itself apart from the debt settlement industry in customer service.
FDCPA Assures Rights of the Consumer
The Federal Debt Collection Practices Act (FDCPA) enforced by the Federal Trade Commission (FTC) regulates debt collection practices. The guidelines laid down by the FDCPA prohibit any kind of harassment of consumers by the debt collectors.
Collecting debt from your clients
Not being paid on time for your products or services can do serious harm to your cash flow, and your business. So here are some pointers to help you implement an effective debt collection process.
Know your Rights in the FDCPA
The Federal Debt Collection Practices Act (FDCPA) has laid down guidelines for fair debt collection. It has clearly listed the regulations and violations of fair debt collection. As a consumer you have rights for fair debt collection even if you owe.
FDCPA Laws
The Fair Debt Collection Practices Act (FDCPA) was passed by the Congress and is enforced by the Fair Trade Commission (FTC) to ensure fair debt collection by debt collectors. The Act has laid down laws to regulate the debt collection practices.
What is Debt Collection Harassment?
The Fair Debt Collection Practices Act (FDCPA) has a set of rules that determine what can be termed as harassment by the debt collector. Harassment can be either written or verbal.
Debt Collectors should follow the FDCPA Laws
The Fair Debt Collection Practices Act (FDCPA) was shaped by the Federal Trade Commission (FTC) and passed by the Congress to ensure fair and lawful debt collections.
True/False Quiz On Debt Collection
There are many common misunderstandings about what a business can and cannot do to collect a legitimate debt. Part of that is caused by believing that the FDCPA, or Federal Fair Debt Collection Practices Act, applies to the business attempting collection, but the act applies only to collection agencies or attorneys collecting a debt for a client. Other potential misunderstandings are incorporated into the quiz that follows.
Email Marketing Made Easy #14 - Does Following Up Really Get Results?
While most people understand the concept that using an email autoresponder saves a lot of time by putting one's business on autopilot, one question I'm often asked is this "But can it really make an improvement to my sales?" You won't know until you actually try it yourself. BUT, I can surely tell you that it has for many others! Here are some examples. Were you ever late in paying your bills? If so, you may have received at some point those nice reminders collection agencies love to send. For example, at first you get a letter in the mail with a typical request to pay your bill (or debt) immediately, and to "govern yourself accordingly."
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