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#13 - What If Debt Collectors Helped Rather Than Abused?
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Headlines run every day with advice on "How to Win at Retirement Savings" and "10 Tips to Save Money." What most people don't know is that 89 million Americans have debt in collections.
Collections is industry built on abusing consumers. Over 870,000 complaints are filed every year. But it doesn't have to be that way. Startups are proving that treating people well can be good business. They're 40%+ more effective at collections that the legacy dial-for-dollars. Not only is it more revenue, it's bigger profits and happier consumers.
We explore the state of consumer delinquent debt, the misaligned incentives in debt collections, and the startups that are helping millions of consumers. Shoutouts to startups InDebted, Prodigal, receeve, and TrueAccord!
Check out this week's letter for the full story. Follow @FatTailThoughts on Twitter and your co-hosts @KleeBeard and @StevenDickens3 for more content.
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