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Chalestra sees debt collection agency back to profits with happy customers

There is a bad habit with debt collection agencies. It is that they are looking for a fast buck (though who could blame them?). There isn't an honest fast buck to be had these days.

And there's a reason why there's so much bad debt. It is that there's precious little money moving around. So marrying the two looked like a challenge at first.

Debt collection agencies work by taking bad debts off financial institutions and spending time recovering the debts. For the financial institutions, it means the loss of a customer, because that customer was creditworthy once. And it is not economically sound for the financial institution to keep long-term debts on its books.

So how can a debt collection agency make a meaningful profit if it can't earn a fast buck, and get the cash in quickly? Chalestra spent some time looking at the problem and found a variety of solutions that could work for the agency and the debtees. You do have to work with both.

The debtees are now paying, and the agency is back to profit, though there are no fast bucks.

Chalestra has found workable models that can work for any business that has a lot of debt on there books.

Contact us if you need help finding strategic solutions to business problems.

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