Charging customers to cover administrative cost of processing letters?
In process of tightening control over pay day lenders the Financial conduct authority(FCA) has fined the much advertised wonga.com. Amongst other unfair collection processes Wonga has charged customers to cover administration fees associated with sending letters.
There are better ways to cover admin costs and DCS has helped various financial organisations reduce cost of their debt collection process by digitizing client letters and documents as they are received. This reduces the administrative burden and makes it easy and cost-effective to share documents between buyers, lenders and any other third parties involved.
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