What's the difference between an aged and staged dunning method?

Aged dunning sends dunning letters based on the age of the oldest transaction. Managers identify the dunning letter to be sent for each aging bucket.

Staged dunning sends dunning letters based on the age of the oldest transaction and the number of days since the last letter was sent. Managers specify how long to wait before executing the next stage.

For both methods, managers decide whether or not to manually schedule a follow-up call if the delinquency isn't resolved.