Despite increasing government debt, the Eurozone crisis and the looming threat of a recession, Britain, along with Canada and Germany are the only three countries of the top seven industrialised developed countries to keep its stellar AAA rating from all three credits rating agencies.
Tribunals and Enforcements Courts Reforms 2007 The TCE Act affects the enforcement industry to a great extent. Changes to it were made with consideration to private sector methods of improvement of debt management and recovery, combating fraud in local government bodies and meeting the challenges of debt recovery, especially during recession.
The Department of Work and Pensions (DWP) Technology in the last decade has leapt forward at an unprecedented rate. Improvement and expansion of the use of technology used to aid debt recovery becoming increasingly common and important as the challenges of the industry rise. Government debt recovery agencies have since begun to modernise their departments and contact centres. In a bid to enhance efficiency, they have also begun to enforce private sector customer management methods on a trial basis and are assessing the results it has on debt scoring with customers.
So far, so good. Unfortunately, while these results are encouraging on paper, but there are a lot of issues that might only show up as problems a few months later or might threaten the progress the Chancellor has been making in balancing the books.
There is the slow growth that will reduce tax revenue and increase benefits claims. Official reports show that Britain's economy shrank .01% in the beginning of the year and most economists expect it to shrink further over the next few months.
Debt recovery is a strategic business. It involves coming up with a suitable payment plans for debtors while keeping in mind the conditions imposed on them by the recession. An ideal policy would streamline the recovery process and keep the costs low.
Tribunals and Enforcements Courts Reforms 2007 The TCE Act affects the enforcement industry to a great extent. Changes to it were made with consideration to private sector methods of improvement of debt management and recovery, combating fraud in local government bodies and meeting the challenges of debt recovery, especially during recession.
The Department of Work and Pensions (DWP) Technology in the last decade has leapt forward at an unprecedented rate. Improvement and expansion of the use of technology used to aid debt recovery becoming increasingly common and important as the challenges of the industry rise. Government debt recovery agencies have since begun to modernise their departments and contact centres. In a bid to enhance efficiency, they have also begun to enforce private sector customer management methods on a trial basis and are assessing the results it has on debt scoring with customers.
So far, so good. Unfortunately, while these results are encouraging on paper, but there are a lot of issues that might only show up as problems a few months later or might threaten the progress the Chancellor has been making in balancing the books.
There is the slow growth that will reduce tax revenue and increase benefits claims. Official reports show that Britain's economy shrank .01% in the beginning of the year and most economists expect it to shrink further over the next few months.
Debt recovery is a strategic business. It involves coming up with a suitable payment plans for debtors while keeping in mind the conditions imposed on them by the recession. An ideal policy would streamline the recovery process and keep the costs low.
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