Collections (Early Stage Delinquency)

Steven Finlay

Chapter 7 in The Management of Consumer Credit, 2008, pp 118-130 from Palgrave Macmillan

Abstract: Abstract One of the biggest costs of running a consumer credit business is the loss generated from debts that are written-off because customers fail to repay what they owe. For a typical credit card business, for example, write-off accounts for about one-third of all costs (Evans and Schemese 2005 p. 224). In 2006, American lenders wrote-off 3.9 percent of their outstanding credit card balances and 1.4 percent of their personal loans (The Federal Reserve Board 2007). In the UK the situation was worse. 6.3 percent of credit card debts and 4.2 percent of unsecured personal loans were written-off (Bank of England 2007 p. 28).

Keywords: Phone Call; Credit Card; Decision Point; Collection Strategy; Customer Behaviour (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-58250-7_7

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DOI: 10.1057/9780230582507_7

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