Practical Telephone Collections ExecutionCollections Training Resource
December 10, 2012 — 1,244 views
Practical Telephone Collections Execution
When a customer or account refuses to pay their invoice, companies rely on telephone collections to help them recover the money that is owed. Many times, a person falls behind on their payments out of a financial downfall. However, other times, a person may need to be reminded of their obligation to repay their debt. It is also common for people to have varying reactions to a telephone debt collector. While some may react in anger, others will be embarrassed and willing to correct their financial mistake. The following information is prepared to help telephone collectors to properly execute their recalls so they can maximize their debt recovery.
Choose Timing Carefully
Telephone collections are more likely to be effective when a person reaches their target at the right time of the day. During the day, most people are working or busy. For this reason, the evening hours and weekends are the times when a person is most likely to answer the phone. If a person claims that they are too busy to take the call, then always ask when a better time will be to call back. This will put the responsibility on them to respond to the call.
Know the Facts
Before calling an account, it is important to have all of the correct information. This way, it will be possible to identify the person that is responsible for the account. A telephone collector should also be able to provide the company that the account is owed to as well as the amount. This will help to keep the conversation focused on collecting the amount that is owed on the account. It will also enable a collector to offset any argument that might be presented by the person they are calling.
Stay in Compliance
In most states, telephone collections are bound by specific laws that must be followed. These laws are often designed to protect a person’s financial privacy. Therefore, it is important to make sure that you are speaking with the account holder. Additionally, it is essential to remain calm no matter what happens on the other end of the line. Telephone collectors should always use polite and respectful language in order to ensure that they will not be accused of harassment.
Be Sure to Follow-Up
When first receiving a phone call from a debt collector, a person might be surprised or angry. They may also be unaware of how they will manage their payment. However, many people may become more receptive to negotiation after they have had some time to think about their debt. For this reason, it is always important to make sure that the initial conversation is followed by another within a few days or weeks. If the prior tips have been followed, then it is likely that a person will be ready to begin the process of settling their account.