When to start collecting debts?
As soon as possible. The chance of successfully recovering a debt decreases with each day.
Originally, I wanted to write a lot about how important it is dealing with a debt as soon as possible. But then I decided that a chart created based on more than 400,000 evaluated pieces of data on debtors from the last 10 years will say more than a thousand words. This is data from various segments and the amounts of debts vary as well. It’s not important whether we’re able to collect 95% or 94% of debts within 30 days. The trend shown by this chart is important, stating: THE OLDER THE DEBT, THE MORE DIFFICULT IT IS TO RECOVER IT