Debt Collection: What You Need To Know – Soft Collections | EP494

Did someone say debt collection? It conjures up images of scary looking men busting down doors and taking stuff.
Debt is never a fun thing to talk about, unless you’re a creditor. Most of us will experience having some form of debt at some point. But what happens when you can’t keep up with the repayments? You’ll need a helping hand. The Private Property Podcast has got you covered with what you need to know about soft debt collection.
The collection of bad debts without taking legal action is referred to as a Soft Collection. Before resorting to legal action, the soft collection is used as a last resort to collect a debt. If soft collection is unsuccessful, best you strap in, the bad debt gets handed over to attorneys, which could result in being blacklisted.
We speak with attorneys Vincent Duys and Simone Soodyall on how to avoid debt in the first place and ways to make debt collections a bit less painful.

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