Many businesses rely on consumer credit to boost sales and help their business growth, but when the process goes awry, that’s when collectors can make a serious impact.
Third-party collectors recover about $2 billion a year in Missouri and Kansas — money that probably would otherwise be completely written off as bad debt.
But the recovery rate for debt sent to collectors is only about 24 percent.
“That seems really low, but you need to keep in mind there is every kind of situation involved…
Many businesses rely on consumer credit to boost sales and help their business growth, but when the process goes awry, that’s when collectors can make a serious impact.
Third-party collectors recover about $2 billion a year in Missouri and Kansas — money that probably would otherwise be completely written off as bad debt.
But the recovery rate for debt sent to collectors is only about 24 percent.
“That seems really low, but you need to keep in mind there is every kind of situation involved…