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Bad debts can quickly snowball into an unmanageable situation wherein the bottom-lines of a financial services firm can go southwards. As chasing defaulting customers is highly regulated, banks and financial institutions prefer to charge-off the debts rather than pursuing defaulters. HCL’s Next Gen BPO services can help organizations in implementing compliant solutions to reduce bad debts.
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How HCL Can Provide End-to-End Solutions in Recovering Last Stage Bad Debts
Intelligent Solutions for
Recovering Charged-Off Debts
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Bad Debts a Global Pandemic
Australian Subsidiary of Largest Financial Services FirmUnder Severe Strain
Increase in Write-Offs
Reduced Collection of Debts
Cash Flows Affected Badly
Stringent Regulations Make Recovery Difficult
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Pinpointing the Problem Areas
Skip Tracing orLocating the Defaulter
Lettering
Debt RecoveryPractices
Collating Data andAnalyzing it
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Targeted Solutions for Effective Debt Collection
Meeting LicensingRequirements
for Compliant DebtCollection Processes
Collaborating withThird Party Debt
Recovery Agencies
Following PrescribedLettering Procedures
Enhanced Skiptracing
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Key Differentiator of Services Provided by HCL
Blended CallingStrategies
Engaging SpecializedSkills for DebtRecovery
Categorizing andFollowing DebtorDepending onDebt Size
Proper Accountingand SettlementProcedures
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Questions to Ask
How rising bad debts can effect businesses?
Can bed debts be prevented?
What are the regulations for debt collection?
Can debt collection be outsourced?
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