Tag: debt collection
Timely payments key to SMME survival in challenging economy
Despite a legal requirement that invoices and claims be paid within 30 days or within the period contractually agreed upon, a Public Service Commission (PSC) report has revealed that South African small, medium and micro enterprises (SMMEs) are owed billions in unpaid invoices by government departments.
Debt collection faces a corona tsunami
The economies in many countries have not seen a recession for more than a decade. Low levels of unemployment and low loss rates in retail credit have allowed banks to lose focus on their collection and recovery departments.
Pandemic pointers for debt collectors
Across EMEA, most countries have moved past the peak of the current COVID-19 pandemic. Whilst the various stages of lockdown being reversed vary, what is almost certain is the harsh economic reality facing consumers and companies as government support lessens and even withdraws completely.
Understanding debt consolidation: benefits and pitfalls
With the lockdown period having significant ramifications on personal finances, many consumers are asking about available options to assist in better managing their money. One option is debt consolidation, which in the right circumstances can improve current cash flows and save costs.
