What is Days Past Due in Credit Report and Its Importance
What is DPD meaning in banking? Days Past Due(DPD) refers to the number of days that a borrower has missed making a scheduled payment on a loan or credit account. DPD is used by banks
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SaaS-ification for faster debt recovery
Debt recovery is a critical process for any business that extends credit to its customers. However, the traditional debt collection process can be time-consuming and resource-intensive, often resulting in delayed payments and lost revenue. As
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Replying to Legal Notice for Credit Card
Receiving a legal notice for credit card debt can be an intimidating experience. However, it’s essential to take a deep breath and approach the situation in a calm and measured way. Understanding the notice, reviewing
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Tips to manage multi-channel debt collection
What is Multi-Channel Debt Collection? Multi-channel debt collection refers to the use of various communication channels to contact debtors and collect overdue payments. These communication channels may include phone calls, letters, emails, text messages, and
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All about Credit Card Delinquency
Credit cards are a popular and convenient way to purchase and manage finances. From a lender’s perspective, credit card delinquency can result in financial losses and damage their reputation. From a user’s perspective, it can
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A Guide to Bad Debt Recovery Process
What is Bad Debt Recovery? When the payment received for a loan cannot be collected, it can be called a bad debt. Every organization or business goes through unpaid customer accounts, where they cannot collect
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Laws that govern debt recovery in India
Debt recovery is a crucial aspect of the financial sector and is governed by a set of laws in India. These laws aim to provide a structured process for creditors to recover their outstanding debts
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5 Transformational Debt Collection Technology
Debt collection is an essential aspect of the financial industry that has undergone a revolution through technology. In the past few years, banks and non-banking financial companies (NBFCs) have significantly shifted toward digitalization and automation.
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