DebtManagers says about 900,000 New Zealanders are currently struggling with debt. Photo: 123RF
A debt management firm says an ongoing failure to deal with bad debt is costing the economy more than $2 billion a year.
DebtManagers buys non-performing debts from businesses and works directly with debtors to recover the debt, by stopping fees and freezing interest rates, with a repayment plan tailored to each customer.
“We urgently need to lift the standard of debt collection in this country,” DebtManagers chief executive Charles Whiting said.
“There are around 900,000 Kiwis struggling with debt today, both to private companies and to the government.
“Bad debt left unchecked and poorly managed can become debilitating debt, and this has an…
Read the full article at: https://www.rnz.co.nz/news/business/503969/bad-debt-costing-economy-more-than-2-billion-a-year-debt-management-firm-says