The global economic landscape is shifting rapidly, and rising debt calls for a new, fairer approach to addressing difficult debt. And by that, we mean more effective yet empathetic debt management strategies. Simply writing-off debt just isn’t good enough, because when you think about it, everyone loses and it is
When you can’t do what you know is right because something’s stopping you, it’s very different from flatly refusing to do it.
Einstein’s famous insight that doing the same thing over again and expecting a different result is tantamount to insanity, rings true on so many things. Including recovering bad debt.
If you want to put a fire out, you don’t throw gasoline on it. It’s pretty obvious it’ll make the fire bigger and burn out of control. So when people are already struggling with paying off debts, layering significant fees and penalties on those who actually choose to pay isn’t fair.
