Customer retention is essential for every business in every industry. And yet, many businesses are quick to terminate relationships with customers who default on their loans. Could this delicate situation actually be an opportunity in disguise? When customers fall on hard times, implementing a suitable debt collection process might be all it takes to help them get back on track. Here, Volker...
As regular readers of this blog will know, the last thing we want is for your customers to go to debt collection. That may sound strange coming from a company working with debt collection, but in our experience an ounce of prevention is better than a pound of cure.
After all, debt collection is a last resort: most people want to pay and given the chance they will pay. But from time to time and...
Everyone makes mistakes sometimes. Most of us have at some time in our lives come late to pick up the kids from pre-school, or been late for a meeting. Or missed the due date on a bill.
There can be all sorts of reasons. The car might have broken down, or there might have been the wrong sort of snow on the train tracks. Or, if you missed a payment, you might have been moving house, or moving...
Some people don’t like talking about debt collection. They might think it is nasty or mean, embarrassing maybe. I actually see debt collection as a vital pillar of society’s economic system. The ultimate truth is that somebody always pays. And if one customer doesn’t pay, then all the other customers have to pay more. Otherwise your company will suffer. So debt collection is actually a basic...