Where is the debt collection industry heading??
The last months are not easy for the entire debt collection industry - changes in legal regulations, spectacular problems of some debt companies and the specter of the financial crisis cause headaches. In such situation, proven best practices and schemes developed over the years by a group of experts work best. Adhering to the rules of professional ethics, especially in the area of debt collection, allows to keep the course for success.
Principles, Principles, Principles
Ethical debt collection affects the creation of cooperation between the debtor and debt collector, and helps improve communication between the original creditor and the debt collection company. If we have effective principles of cooperation, then we create ourselves and our partners comfort in making decisions to choose the best solution - both for the debtor and the contractor. A debtor who is treated as a partner will be more inclined to work out a satisfactory repayment offer with the debt collection company.
In turn, the contractor trusts us in choosing the company that serves its receivables portfolio.
More information about the principles of ethical debt collection can be found in the article:
Joanna Skawińska, analyst, Debt Collection Area