Ten Tips on how to collect debt:
PREPARE: Reviewing the paperwork prior to calling is important. If you know the history of the account, the promises kept/broken and payment history you sound better on the phone. Have all records in front of you, ready for reference.
ATTITUDE: Adopting a straight, professional, business-like attitude is important. You have a contract or you delivered the goods, money is now owed and you have the right to expect payment. Do not let it become personal. Don't yell or raise your voice; and NEVER curse. Don't make idol threats; legal action is your recourse.
CONTACT: It is important that you are talking to the decision maker. Do not let any individuals brush you off with "You'll have to talk to the bookkeeper." Identify the person who can cut you a check. If you can not get through after several calls, let the secretary know that you know your calls are being screened. Tell her the purpose of your call and if necessary give a deadline.
CONTROL: Always control the conversation. Keep it focused on the debt and on the repayment schedule. Do not let the debtor sidetrack you with personal history, excuses, etc. Remember, the objective of your call is to collect money, or get a commitment to pay not to become friends with the debtor 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 willingness to deal with a customers 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 "Well talk next week," or "Ill send what I can." Every contact should result in a commitment to payment. A specific amount, by a specific date, even the check number the customer is using to pay the debt.
TIME: The longer an account is outstanding, the less likely it is that it will be paid. If payment is not arranged or a payment plan is not established within 90 days, place the claim with a collection agency or start legal proceedings.
PLACEMENT: Try to choose an agency that does not have to pay to get your information. Just type in "Collection Agency" to any search engine and pick a firm that ranks organically.
Article Source: http://www.orbitaloc.com/
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