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What Factors Can Impact Debt Collection?

Debt collection agencies typically move quickly. Based on their experience, the investigative tools they’ve developed and the skills their team has acquired over countless cases, it is in their best interest to resolve matters rapidly and efficiently. However, there are certain elements that might impact their ability to collect debts for creditors.

Debt collection cases can run the gamut from large to small, from complex to straightforward. All cases are unique, centering on numerous factors specific to the creditor, debtor or combination of both. No matter the complexity of the debt collection, there are certain factors that might hurt an agency’s ability to recover.

  • Debt age: While it is not a given, newer debt can typically be collected faster. Older debt, especially if it has already been pursued in the past, is generally harder to collect.
  • Collection history: As noted above, debt that has been pursued in the past without success is an indication that the debtor may simply be unwilling or unable to pay.
  • Complexity: While debt collection agencies are typically equipped to handle complex cases through the use of experienced investigators and data mining specialists, a complex case can significantly prolong collections efforts.
  • Financial hardship: Unfortunately, it is not uncommon for a collection agency to locate a debtor who is simply unable to pay.

Debt collection agencies provide an essential service to both creditors and creditors’ rights attorneys. They can, unfortunately, be met with resistance through numerous factors and elements exclusive to a particular case. Facing a complex collection effort, they must identify countless factors that can either prevent or prolong collection.

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