What Happens When Credit Card Debt Goes to Collections?
Nobody likes calling customers daily to tell them how much credit card
July 17, 2024
Explore Latest Trends in Debt Collection
Nobody likes calling customers daily to tell them how much credit card
Advancements in AI have taken the world by storm, with reports suggesting
Introduction When it comes to debt collection, there is always uncertainty present
While global debt reached a peak of $315 trillion by 2024, there’s a specific type of debt that isn’t everyone’s cup of tea. The chances of retrieving such a debt have been concluded to be nearly impossible.
While collection agencies worldwide are taken aback by the staggering debt rates in the US alone, the need to continue fostering positive customer relations has also become prominent among debt recovery solutions.
While collection agencies worldwide are taken aback by the staggering debt rates in the US alone, the need to continue fostering positive customer relations has also become prominent among debt recovery solutions.
Applies to All Consumers (B2C) Accounts
| International (Cross-border) | 35% |
| Legal (Pre-authorized) | 50% |
| Out of Business | 50% |
| Judgements | 50% |
| Claim Value | Rates |
|---|---|
| $50,000+ | 20% |
| $5,000 - $49,999 | 25% |
| $1,000 - $4,999 | 35% |
| Under $1,000 | 50% |
| International (Cross-border) | 35% |
| Legal (Pre-authorized) | 50% |
| Out of Business | 50% |
| Judgements | 50% |
| Over 1 Year Old* | 50% |
Applies to All Consumers (B2C) Accounts
| International (Cross-border) | 30% |
| Legal (Pre-authorized) | 40% |
| Out of Business | 40% |
| Judgements | 40% |
| Claim Value | Rates |
|---|---|
| $50,000+ | 15% |
| $5,000 - $49,999 | 20% |
| $1,000 - $4,999 | 25% |
| Under $1,000 | 30% |
| International (Cross-border) | 30% |
| Legal (Pre-authorized) | 40% |
| Out of Business | 40% |
| Judgements | 40% |
| Over 1 Year Old* | 40% |