More than Half of Debtors Contacted by Collection Agency are Under 32

Published on:
8 December 2006 at 06:33 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00011270-more-than-half-of-debtors-contacted-by-co/

by Mike Bevel, CollectionIndustry.com

New Zealand?s Dun & Bradstreet has some bad news for the under-40 crowd Down Under: more than half the folks referred to the collection agency are under the age of 32 ? generally with debts under $400.

According to General Manager John Scott, many younger people change jobs or addresses regularly and leave bills behind. He says many don’t understand the importance of maintaining a good credit rating.

D&B in New Zealand did find that about 40 per cent of these young debtors did repay debts once a collection agency was involved.