What’s the point of coding payment intent when someone is in arrears?
Knowing whom to call first is a crucial element of any collections activity. A late payment may be the result of a simple oversight rather than any deliberate attempt to avoid payment. Identifying those customers who have the intent to pay is therefore extremely valuable in planning your approach. The appropriate treatment strategies can be used to support valuable customers through temporary crises. Equally, knowing who has little, or no, intent to pay is also important. You can take tougher, earlier action, and, if necessary, free up resources by accelerating recoveries activity earlier in the process.
Related Questions
- What is the trigger point for invoking the Explanation? Is it construction of building which is intended for sale or payment received from the buyer for the same?
- Should the payment be changed so that the landlord receives it direct once the tenant is over 8 weeks in arrears?
- Does the Order of Assignment stop automatically upon emancipation or full payment of arrears/judgment?
