In this clip Blair DeMarco-Wettlaufer discusses the different approaches to debt collection and their outcomes.
He compares a hard-core agency that aggressively demands immediate payment with a more patient and reasonable approach. Whilst he hard-core agency may initially collect a higher amount within the first 60 days due to intensified pressure, their collection efforts plateau afterwards.
In contrast, a patient approach leads to a slower but steady increase in collections, resulting in a longer tail end of successful recoveries.
Blair emphasizes the importance of building positive relationships with debtors, as acts of kindness and understanding can lead to higher payment rates and increased overall liquidation compared to more aggressive methods.
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