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Debt Collection Industry Events: UK

The UK has a rich set of events held for the Arrears management and debt Collections industries. Some of these are for specific sectors, processes or general areas with Collections related content. Listed below are public events, which offer sponsorship opportunities or are available to attend as a delegate. In addition, many companies also hold individual events, in person or webinars, which are usually promoted on LinkedIn or by direct invite. Industry Media Credit Strategy events link Credit Strategy hold… Read more

Consumer Proposals – Canada – A Debt Support Solution Explainer

Download as pdf Overview of Debt Advice Solutions in Canada The debt solutions landscape in Canada is diverse. With rising living costs and economic uncertainties, many Canadians are seeking effective ways to manage and alleviate their debt burdens. Key Debt Relief Options Debt Consolidation: Combine multiple debts into a single loan with a lower interest rate, simplifying repayment. Various institutions offer debt consolidation loans to assist individuals and businesses in managing their debt more effectively. Debt Settlement: A negotiation with… Read more

INSIGHTS+ ¦ Reciprocity Principle – in Collections [Behavioural Series]

The reciprocity principle is a fundamental social rule that suggests individuals are more likely to return favours when they receive kindness. In the context of collections, this principle can be leveraged to improve debtor engagement and recovery rates. By demonstrating understanding and offering flexible solutions, creditors can foster goodwill, which may encourage debtors to meet their obligations more readily. This article explores the application of the reciprocity principle within a collections function, examining its importance, key considerations, and the anticipated… Read more

INSIGHTS+ ¦ Social Norms Theory – in Collections [Behavioural Series]

Implementing Social Norms Theory within a collections function can significantly enhance the effectiveness of debt recovery strategies for creditors. Social Norms Theory, is grounded in the idea that individuals' behaviours are influenced by their perceptions of how others in their social group behave and can be strategically employed to improve debt collection outcomes. This article explores the key elements needed to implement Social Norms Theory in collections, why it is important, key considerations, potential benefits, and examples of its successful… Read more

INSIGHTS+ ¦ What is Loss Aversion theory – for Collections [Behavioural Series]

Loss aversion theory, rooted in behavioural economics, posits that individuals prefer avoiding losses rather than acquiring equivalent gains. This principle has significant implications for the collections function within a creditor's operations. Understanding and leveraging loss aversion can enhance the effectiveness of collection strategies, leading to improved recovery rates and customer relationships. Why Loss Aversion Theory? Loss aversion theory is vital in collections due to its psychological impact on customer behaviour. People are typically twice as motivated to avoid losses as… Read more

INSIGHTS+ ¦ What is Nudge theory and how does this relate to Collections [Behavioural Series]

Nudge theory, a concept derived from behavioural economics, posits that subtle changes in the way choices are presented to people can significantly influence their decision-making. Within the collections function for a creditor, applying nudge theory can lead to improved customer interactions, higher repayment rates, and a reduction in delinquent accounts. This article explores the importance of nudge theory in collections, key considerations, the top ten elements needed for its implementation, and the potential benefits for businesses. Why Nudge Theory Nudge… Read more