Study: Communication and Payment Preferences of Consumers with Past Due Debt

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What’s in this study

We asked 1000 consumers how they would prefer a business to contact, or remind them about a past due debt, and how they would settle a balance that was more than they could afford.

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Does consumer preference really matter?

When it comes to collecting a past due balance, does the communication channel matter? How do consumers want a business to reach out when attempting to get payment?

would consumers rather be contacted electronically instead of by mail or phone?

For some consumers, a phone call from an unknown number in the middle of the day feels like fingernails on a chalkboard. Could a more passive channel like email or SMS actually be more effective?

Do convenience-based payment options increase a consumer's likelihood to pay?

Is it possible that some consumers don’t pay overdue due bills because it requires more effort than they’re willing to spend? How can self-service technology drive faster payments?
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How do consumers prefer to negotiate a payment plan or settlement?

Negotiation is a different experience for all consumers—some relish the opportunity while others do everything possible to avoid it. There might be a way to satisfy both.
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