Diplomatic AI Reveals Shocking Reasons Why Collection Agencies Are Disappearing Leaving Companies Stranded Without The Revenue They Need – QNT Press Release

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SHERIDAN, WY, USA, Feb. 11, 2022 (GLOBE NEWSWIRE) — Another weird twist hits the business world as companies are suddenly facing a new, unexpected problem: their collection agency going out of business.

As the global pandemic continues to wreak havoc in the corporate world, transforming the way business is conducted, companies depend on their collection agency to do their dirty work of chasing down everyone who doesn’t pay for their products and services.

One may imagine this to be a lucrative industry, one that may even thrive in hard economic times.

Much to the contrary, collection agencies are shutting their doors and leaving their clients hanging at an alarming rate.

After years of breaking laws, deceptive accounting practices, and all-around operating with the moral compass of a tyrant, collection agencies are simply closing up shop.

In the golden era of collections, many of them thrived by undercutting their competitors with insanely low rates just to win new business only to do the unthinkable: collect money and not even pay their own clients.

Although this is totally illegal, it is common practice in the dirty world of collections, and now it’s catching up to them.

Fast forward to today, collection agencies are struggling to stay afloat because many have no real track record of operating ethically. With crackdowns by the FDCPA and other regulatory bodies, they are…

Full story available on Benzinga.com

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