Bad Debt Collection Success: Country Wise Look by Debt Nirvana

Bad debt is the amount/payment that a company fails to collect from the debtor. Debtors are the customers of a company who buy goods on credit. When they fail to make the payments or when payments are meant to be uncollectible then that payment is considered as Bad debts. Bad Debts can arise due to various reasons.

Factors leading to Bad Debts

1. Customer Insolvency

2. Credit Assessment 

3. Economic Crisis

4. Poor Debt Collection Process

Top 6 Bad Debt Collection Methods

1. Skip Tracing

2. Friendly Reminder 

3. Negotiation

4. Hire the Bad Debt Collection Agency

5. Legal Action

6. Credit Insurance

Debt Nirvana, A Bad Debt Collection Agency

Debt Nirvana Provides services like Debt Collection, Credit Reports, Credit Risk management, etc. Debt Nirvana can be a good option for any company to recover their Debts smoothly.

Companies try their best to collect the bad debt from the debtors. But the success ratio is not the same every time. Let’s see the country-wise success rate of the outstanding Bad Debt Collection.

According to data collected by Debt Nirvana, New Zealand stands first in successfully collecting Bad Debt by 58%, followed by Australia exactly after it with a 57% success rate.

Moreover, the success rate of Malaysia, Hong Kong, South Korea, Singapore, and Twain is more than 50%.

Fiji and India are nearer to 50% but the success rate of Indonesia, Philippines, Thailand & Vietnam is less than 40%.

This shows that every company struggles to recover bad debts. Here, Debt Nirvana can help to recover your debt most effectively. Debt Nirvana works systematically with a prior strategic plan which can predetermine the potential risks and help you recover your debts along with the risks. Contact Debt Nirvana today by calling +91-9810010294 or reach us through email at rvm@debtnirvana.com.

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