David Sher, Nate Thomas, Martin Sher
(written by Martin Sher)
Well I’m sitting in my den making some notes for my blog, and I write down the word Compassionate. My topic was there staring me in the face! NATE! The last four letters of compassionate spell NATE. Unbelievable! Definitely a sign of some sort.
Continue reading
David Sher, Nate Thomas, Martin Sher
(written by Martin Sher)
Well I’m sitting in my den making some notes for my blog, and I write down the word Compassionate. My topic was there staring me in the face! NATE! The last four letters of compassionate spell NATE. Unbelievable! Definitely a sign of some sort. Continue reading
By Martin Sher, AmSher Co-CEO
Over the next few months, I want to use this blog to help get people out of debt. I grew up in a family business that helped thousands of people get their first credit account and helped people reestablish credit after a bankruptcy. I am also a founder and a partner of a collection agency that helps customers get their debts taken care of. I have taken thousands of credit applications, made thousands of credit decisions, trained thousands of credit and collection professionals, developed one of the first credit scoring systems in my credit furniture business, and also built a custom and proprietary collection system.
I have been on the credit side, and I fully understand the collection side. I have been immersed in the credit and collection world for my entire life. Ever since I was 10 years old when I took my first credit application and made my first collection call. Continue reading
By Martin Sher, AmSher Co-CEO
What does it take to be a likeable bill collector? Many would say it’s an impossible task.
But not Karlene. In her 10 years as an AmSher collector, Karlene has called literally thousands of people who have past-due debts – that’s a lot of conversations. In fact, she’s collected more than $5 million in delinquent debt over the last decade.
And I doubt there were many people who answered the phone and thought, “Oh good! It’s the bill collector!”
But people talk to Karlene, because she is likeable and has a special, fun personality. She listens, laughs, and even cries with the people she’s talking to. She makes it her mission to help people think, consider, find money and pay their bills. We find time and time again that people appreciate her attitude and her help getting their bills paid. Continue reading
By Martin Sher, AmSher Co-CEO
Most people in the United States are honest and intend to pay their bills. It has been that way for about 237 years – that is why our credit system has thrived and our standard of living has soared.
But even the most honest, well-intentioned people run into situations in their lives when they cannot always meet their financial obligations. Even Abraham Lincoln, also known as “Honest Abe,” encountered this situation.
When Honest Abe was a child, his family was evicted from their home for non-payment of rent.
Lincoln also founded two businesses that were financial failures and ended in bankruptcy. He may have been one of the greatest presidents of the United States and one of the most significant leaders of the free world in history, but he probably would have had a lower credit score than Bonnie or Clyde. Continue reading
If you want to be successful when it comes to making collection calls and actually collecting debt, just remember these things: Continue reading
Most people would prefer not to confront their debtors face-to-face. However, as the following story demonstrates, it is the most effective method of collection. (As told by Martin Sher.)
I received a frantic call from a business friend of mine. One of her customers was several weeks past due on a bill for $80,000, and she didn’t know what to do. Her debtor was located nearby, so I suggested that she go see him in person. She reported back to me a couple of days later.
The customer was surprised to see her, but was very nice. He bragged about how his business had grown and took her on a tour of his factory. He explained that his fast growth had caused him to be short of cash, but promised to mail her a check within a week or two.
I recommended she make a follow-up note for two weeks later, and if he didn’t pay as promised, she should go back and see him again. She groaned, but said she would.
She called me a few weeks later and was as excited as if she had won the lottery. In a sense she had. He didn’t pay as he had agreed, but she followed my advice and went back to see him. He wrote her a check for the full amount on the spot.
Was it worth $80,000 to personally visit the man?
You bet it was.
Sometimes it’s best to surprise your debtor. Other times you might want to call in advance. If you are unable to contact your debtor ahead of time, you might consider leaving a message specifying the date and time you will visit. Make sure you bring all the proper documentation with you so you can prove exactly how much is owed.
