There is another point worth considering. Debtors expect to be chased by the creditor. One business phoning another for payment of an overdue account, or sending one statement after the other is part and parcel of business life. Human nature being what it is, however, they respond much quicker once a third party becomes involved. Somehow the debt then is seen as being much more ‘serious’, and the requirement to pay more ‘urgent’.
Far from indicating ‘failure’, the market for debt collection has grown by 70% because businesses are increasingly recognising how DCAs should be utilised as an integral part of a credit management strategy.
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