The Lending Dilemma: High Street Banks vs. Credit Unions

In the clip, Andrew Rabbitt discusses the importance of effectively collecting debts to prevent long-term negative consequences for individuals.

He argues that not addressing debt issues promptly can impact individuals when future lenders or service providers assess their financial history.

Acknowledging that the credit sector needs improvements in data reporting and accessibility, emphasizing the importance of quick and convenient interactions with borrowers, however he suggest that delaying notifications about missed payments is counterproductive and can lead to worse recovery rates.

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