Tuesday, September 25, 2012

Debt Collection Tips

Are you new to the collections industry? Are you not exactly sure what to say or to do? The collection industry can be both exciting and frightening. There is a lot to learn. From the laws that pertain to the debt collection industry, to using the proper technique and the whole abiding by company policy thing. Don't Worry. Below we have listed some of thoughts, the ideas and the memories of experiences' past. Hope you find the useful.
Confirm the debtor's information
Document everything in your notes
Sound like a friend not a collector
Always ask with confidence
Make the debtor aware the responsibility is on them
Keep the debtor honest
Always be professional
Always control the conversation
Sound assertive
Help with budgeting
Ask for the money
Keep it immediate
Encourage timely payments
Develop multiple ways to contact debtor
Be confident
Create convenience
Keep disconnected telephone numbers
Keep references up to date
Handle the objection during the call
What are the nick names
Never under estimate silence
Loosing control - put them on hold
Establish and maintain good debtor relationship
Feel where the debtor is coming from
Be consistent
Be patient
Keep it simple
Be ready to write notes
Now you have got the foundation. The seed has been planted. The baton has been passed. You are now in charge. It is up to you to make it grow. Make it happen.