The repayment of loans has not improved, according to the head of a leading debt collections agency, who reported that efforts are ongoing to recover millions of dollars from delinquent clients. President of APEX Management Services Rory Higgs told Guardian Business yesterday that he has seen an increased number of requests from businesses to recoup outstanding funds from Bahamians, with no indications of a turnaround in the near future.<\/p>\n
\u201cThere\u2019s been a fall-off in repayments during the holiday period, which is expected. It hasn\u2019t improved in January and it\u2019s unlikely that it will pick up in February,\u201d Higgs said. \u201c[A] fairly large client contacted us and has a large portfolio of accounts they will send to us with outstanding accounts. It isn\u2019t getting any better; most people we collect from have limited budgets.\u201d<\/p>\n
Higgs said that even though some Bahamians may be unable to make payments due to limited finances or other related reasons, the amount of effort being made to repay debts is more concerning.<\/p>\n
He pointed out that individuals who owe financial institutions have a grace period to make a payment before it is turned over to APEX Management Services for the agency to start its collection process.<\/p>\n
\u201cWe know that the creditors make significant efforts to collect their money owed to them and they have ample opportunities to repay before they are turned over to us,\u201d he said. \u201cIf they still won\u2019t comply, those persons will be subject to legal action and could have warrants out for their arrest. We have our own legal team.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The repayment of loans has not improved, according to the head of a leading debt collections agency, who reported that efforts are ongoing to recover millions of dollars from delinquent clients.<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[83,98],"class_list":["post-6110","post","type-post","status-publish","format-standard","hentry","category-business","tag-banks","tag-financial"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/6110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=6110"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/6110\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=6110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=6110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=6110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}