Understanding debt: A fresh perspective on collection and management

Drawing from his own experiences of growing up in a single parent household struggling with debt, Mark Francis, the executive general manager of DebtManagers, has reimagined debt collection in a way that provides a breath of fresh air. He brings a refreshing perspective to the harsh reality of debt, prioritizing empathy and understanding in an industry often clouded by fear and pressure. Having been at the receiving end of the debt collection process, Mark has made it his mission to redefine the industry by treating customers as people, not just debtors. This is at times a sobering discussion highlighted by the alarming statistics that 55% of people are under financial strain and 51% are barely staying afloat. Mark also shares the shocking reality faced in the UK, where debt drives 100,000 people to attempt suicide each year. His approach to debt collection is shaped by these realities, emphatically underlining that the way we speak to people about debt can significantly influence their response. Mark's story shows how a respectful outlook and empathetic communication can revolutionize debt collection, and why treating customers as people, not just debtors, is our collective responsibility.