If you want to be successful when it comes to making collection calls and actually collecting debt, just remember these things:
1. Focus on the goal — Your goal should be to get payment in full on the first contact. This is critical. If you want to collect the most money as fast as you can, net of expenses, then there is no sense in having to call the debtor over and over again to get your money. Just make one call and do what it takes to get it over with once and for all. It’s faster and cheaper that way.
2. Having an assumptive attitude — It’s important to have an assumptive attitude when you collect. You must assume that you are going to be successful every time. In addition, before you make a collection call, you should always make two assumptions:
- The debtor owes the debt.
- The debtor will pay the debt.
Without an assumptive attitude, you are doomed to failure. If you’re not totally convinced that your debtor will pay, you don’t stand much of a chance making the collection.
3. Maintaining control of the conversation — When you make a collection call, you’re at risk that the debtor may react negatively. It’s easy to get upset and go down to the debtor’s level, but this response never works. If the debtor screams and you start screaming, you are finished. You will never win the debtor over to your side by raising your voice. And it’s very easy for the debtor to get rid of you. All she has to do is hang up.
But how do you handle the debtor who loses control and raises their voice? The louder your debtor talks, the softer you should talk. The worse your debtor acts, the nicer you should become. If you can stay on the line long enough, you will find that the debtor often will become embarrassed about their behavior and try to make up for it.
AmSher is an Inc 500, nationally recognized collection and receivables company licensed to conduct business in all 50 states for the banking, healthcare, telecom and commercial industries.