Debt collection efforts can be stressful. One of the biggest mistakes individuals make when collecting on outstanding debts is not communicating properly; none more so than while attempting to collect on a debt via the phone. Deploying the best practices in accordance with national, state and local laws is essential to avoiding debt collection missteps and having successful debt collection efforts.
Successful Debt Collection Tips:
Effective Phone Conversations
Though generally seen as the most efficient and effective method for successful debt collection, there needs to be a level of competence and skill to your methods. In other words, Professionalism is key.
Most people are familiar with the horror stories of debt collection efforts by less-than-scrupulous collection efforts. One thing that is common with individuals engaging in these tactics is a lack of professionalism. Here are a few tips you can use ion yourtelephone decorum arsenal to help you in your successful debt collection efforts:
- Be polite–“Please”and “Thank You” go a long way. Be cordial while still conveying the importance of the matter and the need for a timely resolution.
- Remember to smile–Yes, the debt collections process is less than desirable and a bit stressful from your end, even more so on the debtor. Your smile will come across and will more often than not put the other party at ease.
- Avoid anything in your mouth during your call: food, candy, gun, etc.
- Call during the appropriate hours–Not everyone works a 9 to 5 job, determine the best hours to reach the debtor by phone. You can do so
- Avoid laying blame–Having debt can be stressful enough without someone making accusations or laying blame. As noted above, be polite. Be cordial. Discuss with the debtor the reason for failure to pay, they may not be what you think.
For instance, perhaps the other party has a complaint of product or service. By digging deeper you can discover what the complaint is and work to resolve the situation while simultaneously providing a solution to recoup monies owed.
- Keep a record– Be sure to keep a record of your conversation by taking notes while you talk. In doing so you are able to keep on ongoing log or record of your conversations that you can summarize later and send to the debtor via email or letter post. This will help prevent any miscommunications or arguments over what was and wasn’t said and should include any repayment plans if mentioned.
Recording your conversation
If you plan on recording the conversation, be sure to get the other party’s permission before you do so. You can check your state’s requirements for recording conversations at the following website https://www.rcfp.org/reporters-recording-guide/state-state-guide
It is a good practice to assume that any messages left for the debtor will be heard by other parties. Be careful not to disclose any personal information related to the debt to anyone other than the debtor.
On the other hand, if this is a business-related debt, full details regarding the debt can be left on any phone number related to the business or any personal number belonging to the directly related party.
Effective communication is one of many often difficult hurdles you can encounter when attempting your debt collection efforts. Employing a commercial collection agency like Stevens-Lloyd Group, Inc to handle things can help eliminate the learning curve when it comes to successful debt collection efforts.
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