Nexa Collect
JULY 31, 2020
The number of delinquent accounts will rise sharply, forcing companies into a defensive debt recovery position. Recovering Credit Card Debt Nationwide. Higher Recovery Rates : Top-Notch Customer Service. And these figures are likely to worsen as the results of the pandemic mushroom out into the industry.
Nexa Collect
JANUARY 16, 2023
Impact of Rising Interest rates on Consumer Debt. Credit Card Debt: Higher monthly payments since they charge a higher interest rate. People have been losing jobs, the housing market has already slowed down, and we read news about job losses almost daily. Most economists believe that a recession is inevitable.
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Better Credit Blog
JANUARY 27, 2021
If you’re getting calls from a company called Debt Recovery Solutions, you probably have one or more unpaid bills to take care of. And this can range from credit card debt to hospital bills to utility fees. If you’re getting calls from them, this can mean trouble for your credit. Validate the Debt.
True Accord
MARCH 29, 2023
Delinquencies are Rising—And Call Centers Can’t Keep Up The first quarter of the year revealed that Americans have almost reached $1 trillion in credit card debt, breaking a record set in 2019. Let’s look at why today’s economic landscape makes omnichannel engagement critical for collections and how your business can get there.
True Accord
MARCH 5, 2024
Today, about 61% of American households have credit card debt and the average credit card debt balance sits at $5,875. So how can lenders and collectors effectively recover debts in 2024 given the rising delinquencies and rising financial stress for consumers?
True Accord
AUGUST 24, 2022
Debt types and payment preferences constantly change along with technology. The traditional credit card debt is being replaced by BNPL, specifically when we look at Gen Z. On average, BNPL debts see higher and faster repayment rates than similar-sized credit card debts.
True Accord
AUGUST 11, 2022
Providing consistent outreach—especially in early delinquency—will give customers more opportunities to engage, understand, and resolve debt. Debt levels are on the rise again: according to the? New York Federal Reserve , between the national student loan debt topping $1.6
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