Selecting A Collections Partner

Key considerations and insights...

- Gareth Levinsohn

Levels of consumer and business financial distress have significantly deepened, and the number of once diligently paying debtors who now find themselves in an untenable bind, is growing exponentially.

“Credit providers are very much alive to the fact that these are not ordinary times, and that a more collaborative and an increased data-driven approach is needed to help indebted consumers find their way through their constraints. However, there is also a fine balance to strike, as unpaid debt will undoubtedly limit the ability of a business to recover, grow and remain sustainable. When assessing a potential collections partner to help recover such debts, there are critical considerations that credit providers need to weigh up,” says Gareth Levinsohn of Shapiro Shaik Defries and Associates (SSDA). He provides some of the key considerations and insights into selecting the right collections partner.

Find a collections partner, not a debt collector.