Buy Now, Pay Later, Consumer Preference & Collections

By on December 15th, 2021 in Industry Insights

Consumer adoption of Buy Now, Pay Later (BNPL) products skyrocketed in the past year, fueled in part by an increase in online shopping due to Covid-19. There are many payment and credit options available, but it really comes down to consumer preference and consumers are choosing to use BNPL. But why are consumers into BNPL and what happens when BNPL installment loans go unpaid?

The outlook for BNPL customers that default on payments and go to collection is different than for those who default on credit card debt. TrueAccord is a digital debt collection platform that works with the leading BNPL providers and compiled data on debt trends, repayment performance, and consumer preferences from millions of customer accounts to report on the BNPL phenomenon. The report explores the trends and why BNPL continues to be a preferred payment option with consumers, even after going to collection.

Key findings include:

  • Since the onset of the pandemic, younger consumers (18-34) are going into collection for lower amounts due to an uptick in BNPL usage
  • BNPL debts see higher and faster repayment rates than similar-sized credit card debts— BNPL repayment is 2x+ higher than credit card repayment at both 30 and 90 days.
  • Consumers like installment payment plans, whether at the time of purchase (by using a BNPL product) or after default (by setting up a repayment plan over a period of time) 

To learn more about BNPL and collections, click here to read the report “Buy Now, Pay Later, Consumer Preference and Collections Outlook” from TrueAccord.

Free eBook: The Basics of Compliance in Debt Collection

By on March 24th, 2015 in Industry Insights


Debt collections is a litigious market. Whether debt collectors sue debtors for payment, or the cottage industry of consumer advocates that evolved to sue for every technical violation, you’re bound to get your day in court. Couple that with a strong Federal regulator and public scrutiny, and it’s obvious why you need to learn more about regulation and how to adhere to it.

If you’re just starting to learn about debt collection, this free eBook will give you a first taste:

  • Learn who regulates debt collectors
  • Get an introduction to the relevant Federal rules
  • Learn about the top complaints debt collectors face, and how to prevent them

Ready to get an introduction? Download our eBook and learn more!

Free eBook: Automating Your Debt Collection Process

By on March 17th, 2015 in Industry Insights


TrueAccord was built as an automated system from day one. Customer care experts handle the cases that needed special care, and teach the machine how to improve. We learned how to do that through a lot of hard work and testing, and we’d like to share some of that with you. In this free eBook, you’ll:

  • Learn about the different types of automation
  • Read from TrueAccord’s experience about the benefits of automation
  • Read about the three keys to a successful automation project

Click through and download it!


Writing Better Collection Letters is a Science. Here’s an eBook to Help You.

By on June 30th, 2014 in Industry Insights
TrueAccord Blog


Why write collection letters at all? We believe that collection should be an integral part of your business practices. While we explain why you need a professional collection partner to help you, we also advocate talking to your customers as well as doing what you can to recover money that’s owed to you before sending late customer to collection. After all, increasing retention by 5% increases profits by 25-95%. How do you approach recovering money efficiently? Writing better collection letters is part of the equation.

Writing Better Collection Letters – What’s in the eBook?

In this eBook you’ll get a review of why and when to use letters instead of emails or calls, and a few free letter samples that you can edit and use. Further more, we’ll highlight a few key terms and phrases our behavioral economics use when writing our collection copy.

If You Plan To Write Collection Letters On Your Own – This eBook Is For You.

Good luck! Tell us how it works for you, and try us out if you need more help.