Bad debt expense has risen to approximately 28% of sales due to inflationary pressures on consumers.
This report provides a comprehensive overview of a performance, focusing on collection efficiency, portfolio health, and operational benchmarks. 📊 Executive Summary: Portfolio Health buy here pay here payment center
To maintain an "audit-proof" operation, your payment center should generate these five reports monthly. Purpose: Tracks how long payments are overdue. Bad debt expense has risen to approximately 28%
The percentage of customers who made a "Promise to Pay" and actually followed through. Purpose: Tracks how long payments are overdue
Summarizes cash, credit, ACH, and checks while highlighting NSFs (Non-Sufficient Funds) and chargebacks. 5. Promise-to-Pay (PTP) Kept Rate Purpose: Measures collector effectiveness.
Identifies customers who are delinquent but have paid something recently.
Tracks a specific group of loans (e.g., all loans made in March 2024) over their lifetime.