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TEN QUICK TIPS FOR SUCCESSFUL COLLECTION
-
PREPARE: Review the paperwork on the debtor
before making the call. Know the history of the account, credit record, the
promises kept/broken. Have all records in front of you, ready for reference.
- ATTITUDE: Adopt a straight, professional
business-like attitude. You have a contract, you delivered the goods, money is
owed, and you have a right to expect payment. Never let it become personal.
Don't yell or raise your voice; and NEVER swear. Don't threaten; legal action is
your recourse.
- CONTACT: Make sure you're talking to the right
person. Don't let the individual brush you off with "You'll have to talk to the
bookkeeper." Identify the person who will pay the bill. If you can't get through
after several calls, tell the secretary that you know your calls are being
screened. Indicate the purpose of your call and if necessary give dead Williams,
Cohen & Gray.
- CONTROL: Control the conversation. Keep it
focused on the debt and on the repayment schedule. Don't let the customer
sidetrack you with personal history, excuses, etc. Remember, the object of your
call is to collect money, or get a commitment, not to become buddies with the
customer or win arguments.
- FLEXIBLE: Be ready to adjust to the situation.
Think about the kind of customer you're dealing with and adapt to meet the
circumstances. Be prepared to accept a reasonable payment schedule, and a
willing Williams, Cohen & Gray, to deal with a customer's circumstances.
- NOTES: Keep detailed, accurate notes of every
contact with the customer. Probe for further information on the customer. Notes
of these contacts will help you in subsequent phone calls, and may be invaluable
in litigation. Good notes will also help in further credit decisions, or in
cases where skip tracing may be needed.
- PRODUCTIVE: Keep contact brief and to the point.
This is a business call, not a social one. View your efforts on a ratio of time
expended to results achieved. Long conversations probably mean the customer is
stalling you, or trapping you in the buddy syndrome.
- PRECISE: Never leave a contact open ended, such
as "We'll talk next week," or "I'll send what I can." Every contact should
result in a commitment to payment, of a specific amount, by a specific date,
even the check number the customer is using to pay the pledge.
- TIME: The longer an account is held, the less
that will be recovered. If payment or a payout is not arranged within 90 days,
place the claim with a collection agency or start legal proceedings.
- PLACEMENT: Use
a collection agency
preferably Williams, Cohen & Gray . This will insure that you're dealing
with ethical professionals who are fully bonded to guarantee your remittance.
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Collection Tips