It wasn't until today that I realized, you had anticipated that our funds would balloon quickly, so you had us prepare for where these funds would go early on.

Otherwise, with so much money flooding in all of a sudden, we'd have trouble digesting it all at once!

Since the interest is not high, quite a bit lower than the mainstream platforms on the market, our funds were loaned out easily.

Although it seems we've earned less, the turnover rate has clearly increased, and we've seized more market clients. In the long run, it's definitely not a loss!"

"Uh..."

I can be blamed for this too?!

"Is... is that so? Then with debt collection... you must have faced quite a lot of difficulties, right?"

Don't worry, being able to loan out is nothing; being able to collect back is the real skill!

I refuse to believe it, with our friendly collection method, how much can we really recover!

"This is truly a masterstroke, Mr. Cheng, how did you know the country was going to crack down on violent debt collection recently?"

"What?!"

Ah Xing, who had been holding back laughter on the side, finally couldn't restrain himself, broke in with a laugh.

"Brother Biao, you don't know, several of our peers were wiped out recently, either ordered to rectify or suspended for rectification, the worst were sent directly to sew on sewing machines.

Goodness, now even our debt collection business has exploded with growth, and we've expanded quite a lot of manpower.

The guys under me now are almost a company..."

Manager Jin said this is called, oh right! A market vacuum!"

Cheng Biao was dumbfounded.

Is this for real!

"Something's not right, even if we didn't get into trouble, are debts really that easy to collect back?"

"That's why they say Mr. Cheng never fights battles he isn't sure to win!" Manager Jin praised with admiration.

"I've worked so many years, and I've never seen a company with such an impressive big data intelligence system.

Not just credit records, loan records, litigation records, criminal records...

All credit-related information that can be made public, listed clearly for you.

Though it can't guarantee 100% that the selected ones won't default, they are indeed the best among debtors, greatly reducing our bad debt rate!

Mr. Cheng, you've mastered high technology so well!"

Facing Manager Jin's thumbs up, Cheng Biao was speechless.

Mastered what, I've hated high tech the most all my life.

Used to, now even more!

Darn it, that company ERP is truly a disaster, but I can't change it...

He waved his hand dejectedly, "Forget it, forget it, any other bad news, just tell me all at once, I can handle it."

"Oh! There really is, your friendly collection plan, while humane, indeed has a lot of stubborn debtors refusing to repay, which frustrates us.

You know, it's fine if it's just one or two, but we are afraid that our company's good reputation will spread, and everyone will follow suit.

That could potentially cause big trouble for our future collection work."

Cheng Biao's eyes lit up.

I was just saying, how can such a ridiculous collection method make money?

"Even with troubles, we can't change! We are a financial service company, what's financial service? It's about service, got it!

Friendly, non-violent, reasonable and legal, embodying humanitarianism, this is our company's service philosophy, to be adhered to for a hundred years without change!

Ah Xing, go immediately, change our company slogan, make sure every employee sees it the moment they walk in!

Anyone who dares not to comply, fire them immediately!"

Damn, finally, a few bad debts can reduce my risk of getting too rich too fast, and you still want to change it?

I'll nail it right on the company's background wall for you!

Unexpectedly, Manager Jin nodded in complete agreement.

"Mr. Cheng, great minds think alike, I was thinking the same thing!"

"What?" Cheng Biao was taken aback.

"You know, I'm from a legal background, before becoming a professional manager, I spent a long time in legal affairs.

So I see more clearly that violent debt collection is ultimately skirting the edge of the law, the policy risk is too high, it's never a long-term solution.

The most secure method is to find a reasonable and legal collection path within the framework of the law, making those old dodgers cough up the money obediently."

"Uh... what do you mean?"

"Mr. Cheng, you've surely noticed, our brother company Baiyeji developed a tool called 'Chief of the Disciplinary Court,' said to be foolproof to operate.

It just requires submitting debtor information, transaction records, and related evidence, and they can automatically generate legal documents for us, even complete the entire litigation process.

This greatly simplifies our litigation process and reduces litigation costs.

I've already contacted their team, for any debtor we can't handle, we'll directly pass over to them.

Take risk litigation, let professionals do what they're good at.

I've specially researched this product's effectiveness, it's not an exaggeration to say we have at least a 60-70% chance of recovering quite a portion of our losses, reducing our bad debt rate.

Recovering the arrears is secondary, the main goal is to increase the costs of defaulting, so the debtors dare not easily renege.

Moreover, this lawyer's fee will also go into the brother company's pocket, and you've said to maintain good internal group relations.

Investing a bit of cost to build a good relationship with a promising company like Baiyeji is definitely a win-win, you could say it's killing several birds with one stone!

Mr. Cheng, do you think this plan is feasible?"

"I..."

Cheng Biao looked constipated.

You've listed so many benefits, killing N birds with one stone, can I still say no in this situation?

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