eBook

6 Financial Factors Impacting Debt Repayment

Understanding the Financial Factors That Impact Consumers’ Ability to Make Debt Payments.

About the eBook

Every business faces challenges with collecting payments from delinquent customers. But did you know that many of the most challenging ones are financial impacts outside your or your customers’ control?

From current debts to inflation, financial scams on the rise and more, consumers are juggling a lot of outside factors that directly influence their ability to pay off debt. The experts at Retain by TrueML Products want to give your business insight into these financial factors to help optimize your debt collection strategy.

About the eBook

As the financial challenges faced by consumers continue to evolve, debt collection strategies that don’t account for these trends are leaving money on the table. By knowing the major financial hurdles, businesses will be able to better engage their customers to build trust and optimize their debt collection strategy.

In this eBook, you’ll get a detailed look at six of the biggest financial factors that affect consumers' ability to make debt payments and collection strategies that address each challenge. By downloading this eBook, you’ll learn:

  • How the rise of student loan debt can impact your debt collection strategy.
  • The importance of honoring your customers’ preferred communication channels.
  • Why leading with empathy is expected by consumers.

About Retain by TrueML Products

Retain is a white-label digital delivery and engagement platform that helps lenders, collectors and law firms intelligently automate their customer communications and spend less to recover more. Retain offers features and functionality including validation notices for law firms to reach effective engagement no matter where the consumer may be in the collection process. From pre-suit to post-judgement and all the stepping stones in between, using Retain for digital communication and engagement helps law firms achieve repayment faster and can scale to any portfolio size compliantly. Visit www.GetRetain.com to learn more.

TrueML Products is a fintech software company developing machine learning-driven products that enable intelligent, digital communication and prioritize customer experience for consumers seeking financial health.