Released every month our debt collection blog contains news, stories and tips to keep you informed.
In this article we look at the potential debt collection benefits of describing the security on a Default Notice.
The point was raised internally of the differing practices amongst our clients. Some clients when issuing a secured Section 88 Default Notice do not describe the security. Other clients do.
The possible debt collection benefits as we perceive them are;
Slightly off topic, we have also noticed some notices do not include the issue of a shortfall after sale, and the possible consequences to the debtor.
Note that this article is not discussing any compliance requirements of the National Credit Code and is not legal advice.