Are You Wasting Resources In Your Debt Management Programmes?

Analysis published last week by the TUC suggests that the official growth forecasts based on George Osborne’s economic plans are dependent on household debt growing 2.7 times faster than wages over the period 2015-2019. As well as this, unsecured debt is forecast to grow even faster, averaging £29,000 of unsecured debt per household by 2019.

If interest rates rise in this period this could see a lot more individuals turning to Debt Management Companies for help when they can no longer manage the repayments.

Individuals are increasingly turning to the internet to search for solutions to their debt problems. This creates a number of issues for debt management companies, not least of which is securing all of the contact details needed to best support their client. Often these are keyed in incorrectly, whether deliberately or not, which can lead to wasted time for people on the telephone or problems with blacklisting when emailing.

So, what are the options available? The first option is to continue trying to call the numbers you have, running the risk of wasting your resource time with incorrect or invalid telephone numbers. The second option is to implement telephone validation and telephone appending into your database. This option allows you to check whether the telephone numbers in the database are correct and, if they’re not, to add the correct numbers. By utilising solutions like these you could ensure that you are not wasting your resource time, but also making sure that you are getting in contact with the right people.

Want to see how many valid telephone numbers are in your existing database? Why not try this free Data Quality Report.

 

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