Part One | The Lifecycle of a Debtor: Pre-delinquency
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Synopsis
Strategies and tactics for reducing bad debt before people miss a single payment
With the strategic spotlight increasingly focusing on back-end retention and efficiencies, collections specialists will be at the heart of commercial success for many businesses this year.
In this paper, the first in a series of three, Helen McNab of ScorePlus gives an independent view on the key strategies and tactics that consumer-facing businesses should put into place to reduce bad debt before people miss even a single payment.
Drawing on experience in telecoms, retail and financial services, Helen details a recommended framework for a pre-delinquency programme:
- Setting clear pre-delinquency objectives
- Using data and analytics, including segmentation and the use of external data sources
- Designing a pre-delinquency strategy
- Designing the pre-collections operation, including scripting and database integration
- Delivering the pre-collections strategy, including piloting and incremental improvements
- Evaluation of your pre-delinquency programme, including control group and cohort reports
Building on this. Peter Taylor, Credit & Collections Director at Fraudscreen, details the key activities to put into place this week, this quarter and this year for positive bottom-line impacts within twelve months.
About the authors
An industry specialist with over 20 years experience, Helen has worked as an independent consultant developing and advising on lending and collections strategies for numerous clients, including HBoS, JD Williams and Orange. ScorePlus provides consultancy and training services to the credit industry.
For more information on ScorePlus, please visit www.scoreplus.com
Peter joined Fraudscreen in 2007, following an extensive career in credit and collections. Roles have included Head of Banking Credit Operations for HBoS, 17 years with Barclays, latterly with full responsibility for over 3m credit card and loan accounts. More »
Who should read this paper?
The series is suitable for collections and recoveries specialists looking for ways to increase the wider understanding, and strategic importance, of their roles within their companies. People outside the discipline will also find it useful in demonstrating how they can work effectively and proactively with their colleagues in these areas to deliver significant and vital bottom-line results for their businesses in the toughest of economic climates.
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