Debt-recovery or credit-collection agents are utilised by numerous organisations in order to redeem a variety of different payments from debtors, whether that be for trade debts, rent arrears, parking charges, or even utility bills.

Debt collection companies must obtain a consumer credit license from the Financial Conduct Authority, which is in place to regulate consumer credit activities, and monitor any unlawful tactics against consumers.

It is not unusual for debt to be disputed, although there must be substantial reasoning behind the dispute, and will ultimately cause conflict between the consumer and the debt collection agency.

The property management company Rushbrook & Rathbone have recently launched a new tenancy deposit replacement product aptly named Property Protect, which was authorised by the Financial Conduct Authority (FCA).

Property Protect has been launched in line with the tenant fee ban, making it unlawful to charge tenants for referencing, inventories, and admin fees; changes which are due to implemented next year.

The product is included as an element of the landlord’s insurance package, which consists of rent and legal protection, tenant referencing, protection of property damage, monitoring of tenant’s credit.