Hello December

As we draw closer to December, we are aware of the festivities that come along with it.  Within our industry, consumers should be counselled to spend their money wisely and not to overindulge.

There is a risk that consumers might not honour their debt review repayments.  This could leave the consumer in a worse off position than before the start of the festive season.

Missed debit orders not only negatively impacts a consumer’s debt review program, as missed payments to creditors could lead to unnecessary terminations, repossessions or interest accrued, but also impacts your cash flow.

‘Salaries and bonuses tend to be paid out earlier in December’

Salaries and bonuses tend to be paid out earlier in December.  In an attempt to increase the collections percentage & ensure that consumers don’t miss their debt review payments, consumer engagement during the festive season is critical.

As we approach the last of what’s left of 2022, we would like to encourage you and your teams to join us in pressing through the final few weeks and ending the year triumphant.

Season’s Greetings from the iPDA Team

Article courtesy DebtFree Digi Magazine: https://debtfreedigi.co.za/category/debtfree-magazine-issue-11-2022/.