Debt collection shouldn't be an unpleasant experience for Businesses
Sunday, 8th of October, 2017
There seems to be a common feeling of distrust when the public deal with the debt collection industry - and if we're honest, there's a fairly logical reason for the negative feelings that people often express about the industry.
Historically, debt collection companies have a questionable track record when it comes to dealing with debtors. Whether these agencies have bullied their way into having a debt repaid, or taken unnecessary heavily-handed action completely destroying a relationship, many collection companies operate on a "get paid at all costs" model. It is also extremely disconcerting to have someone chase you for money when you may be in a precarious financial position that requires some empathy to maintain a business relationship.
But does debt collection really have to be such a negative experience for debtors?
Since our launch, the Ezi Debt Collection team has intentionally operated differently and looked to distance itself from the debt collection stereotypes. We believe that creating a positive result for both our customer and the debtor is a far better outcome than a heavily handed one-sided approach.
We utilise strategies to make paying a debt more feasible and less unpleasant for a debtor. For debtors with cash flow limitations, initiatives such as our interest-free payment schedules are available, giving debtors flexibility to pay debts that they might otherwise choose to ignore. We also offer mediation services for debtors who question the validity of their debts for a multitude of reasons.
We're not naive about this - we realise that some debtors attempt to get away with non-payment. With this being said, there are often complex issues surrounding unpaid debts which most debt collection companies are either unable or unwilling to navigate - we don't feel like this should be the industry norm.
One such issue around non-payment is dissatisfaction with services rendered, which unfortunately may never be raised by a debtor until it comes time to pay the bill. Our experience tells us that generally, the majority of business people would have just as much interest in resolving this dissatisfaction as they would recovering the debt. This approach helps to creates a more positive outcome for both the customer and debtor, as well as helps to mitigate any potential damage to their business reputation that might have otherwise arisen.
Ezi Debt Collection specialises in mediating these issues raised by debtors, helping to maintain relationships, rather than destroy them to help the bottom line. We believe the correct line to tread is one of firm understanding - flexibility around issues, without compromising the customer's reputation - and with our "no collect, no fee" model we're putting our money where our mouth is.