debt collection

Improving Debt Collection Performance with Metrics

U.S. consumer debt hit $12.84 trillion in Q2 of 2017, with delinquent debt reaching $612 billion and seriously delinquent debt — at least 90 days late — rising to $411 billion, according to the Federal Reserve Bank of New York’s quarterly report. In response, many businesses are contracting with debt collection agencies. To produce favorable results, best-in-class agencies monitor, quantify and evaluate three key metrics — performance, scorecards and reports.