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Approach the debt collection process systematically.
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Set goals for yourself each day.
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Set specific goals for each call.
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Review your previous collection notes before placing a call
to a delinquent customer because doing so can often provide valuable
insights about what you can expect.
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Know who you want to or need to speak with in order to get a
payment commitment.
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Keep your message simple....We expect immediate payment in full
of the past due balance.
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Don't use a speakerphone on collection calls. It is discourteous.
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Don't allow yourself to be distracted during your discussion
with the customer...collection is hard work and requires your undivided
attention.
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Don't waste the customer's time. Get to the reason for your
call quickly and stick to the point.
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Expect a reasonable and specific commitment for payment before
the end of each call.
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Don't argue. Stick to the facts. Keep personalities and previous
problems out of the current discussion.
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Take brief notes during the call of their comments and commitments.
Confirm payment commitments verbally before ending the call.
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If necessary, reconfirm the commitment in writing, preferably
by fax or email the same day you receive the commitment.
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Follow up on every broken payment commitment. Ask: Why it happened?
Why you were not notified? When payment will arrive, and if this
is a firm commitment or their 'best guess.'
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Shorten the collection cycle by faxing rather than mailing supporting
documents requested by a customer - even when there are a large
number of pages to send.
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If your customer is not communicative, ask for their comments
and feedback.
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Recognize that some customers respond to routine collection
calls with anger in an effort to get you to back off. Don't back
off...do your job professionally and thoroughly.
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It is OK to be assertive; it is not OK to be aggressive when
dealing with delinquent customers.
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Don't lose your temper or argue with customers. By acting professionally,
no one can ever successfully challenge your actions.
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Don't agree to any extended payment plan proposed by a delinquent
customer without the approval of your manager.