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(From BusinessWorld (Philippines))
Byline: Antonio R. Samson
Many organizations are experiencing collection problems and a routine check of payment behavior shows why. An as yet unpublished study on the Filipino's paying habits is entitled "Paying in the Neck: Dysfunctional Credit Traits of Filipinos."
The study shows that, except for utilities where no alternative service provider is available like water and electricity, 38% avoid settling their bills and instead switch and start a clean slate with a new provider. Another 25% negotiate with the existing provider and after the approved extension period elapses switch too. This behavior ensures maximum discounts, …