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Collections (Early Stage Delinquency)

In: The Management of Consumer Credit

Author

Listed:
  • Steven Finlay

Abstract

One of the biggest costs of running a consumer credit business is the loss generated from debts that are written-off because customers fail to repay what they owe. For a typical credit card business, for example, write-off accounts for about one-third of all costs (Evans and Schemese 2005 p. 224). In 2006, American lenders wrote-off 3.9 percent of their outstanding credit card balances and 1.4 percent of their personal loans (The Federal Reserve Board 2007). In the UK the situation was worse. 6.3 percent of credit card debts and 4.2 percent of unsecured personal loans were written-off (Bank of England 2007 p. 28).

Suggested Citation

  • Steven Finlay, 2008. "Collections (Early Stage Delinquency)," Palgrave Macmillan Books, in: The Management of Consumer Credit, chapter 7, pages 118-130, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-58250-7_7
    DOI: 10.1057/9780230582507_7
    as

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