How will the new law on the protection of defaulting consumers change receivables management in companies and the face of the debt collection industry? Markt und Mittelstand (MuM) addresses these questions in the current edition.

According to MuM, more and more companies are in trouble because payment morale has suffered greatly in recent years, regardless of Corona. Experts therefore feared a wave of insolvencies delayed by the Corona aid. At the same time, MuM points out that the debt collection industry is still not very digitised and many debt collection companies, even industry leaders, work with outdated, threatening customer communication. The new law for the protection of defaulting consumers should bring an improvement for consumers, which will, among other things, bring about a reduction in collection fees.

MuM uses the example of troy to show how debt collection can be more modern and customer-friendly: with friendly, individual omnichannel communication and extensive services in the online customer centre. In an interview with Jochen Schüßler, CCO of troy, MuM concludes that, in contrast to established debt collection giants, troy can realise receivables more successfully and maintain customer relationships with modern technology and contemporary thinking. Schüßler: “Our recovery rate is 25 to 80 per cent higher, customers stay with the company and our own recommendation rate is excellent.”