10 Tips To Help Collect Past Due Accounts

10 Tips to help you collect debt:

PREPARE: Go over the paperwork on the debtor before making a call. Knowing the history of the account is key. Have all the records in front of you, ready for reference if needed.

ATTITUDE: Adopting a straight, professional, business-like attitude is important. You have a contract or you delivered the goods, money is now owed and you have the right to expect payment. Do not let it become personal. Don't yell or raise your voice; and NEVER curse. Don't make idol threats; legal action is your recourse.

CONTACT: Make sure you're talking to the right person. Don't let the individual brush you off with "You'll have to talk to the bookkeeper." Identify the person who will pay the bill. If you cant get through after several calls, tell the secretary that you know your calls are being screened. Indicate the purpose of your call and if necessary give deadlines.

CONTROL: Always control the conversation. Keep it focused on the debt and on the repayment schedule. Do not let the debtor sidetrack you with personal history, excuses, etc. Remember, the objective of your call is to collect money, or get a commitment to pay not to become friends with the debtor or win arguments.

FLEXIBLE: Always be prepared to adapt to any situation. Try to think about the kind of customer you are dealing with and work to overcome the obstacle. Be prepared to accept a reasonable payment plan or settlement, and a willingness to deal with a customers circumstances.

NOTES: Try to Keep detailed, accurate notes of every single contact with the debtor. Always probe for additional information on the debtor. Notes of these contacts will help you in later phone calls, and may be invaluable if litigation is needed. Great notes will also help in credit decisions in the future or in cases where skip tracing may be needed.

PRODUCTIVE: Keep calls brief and to the point. This is a business call only, not a social one. Try to view your efforts on a ratio of time expended to results achieved. Long conversations usually mean the customer is stalling for time or trapping you in the buddy syndrome.

PRECISE: Never leave a call open ended, such as "Well talk next week," or "Ill send what I can." Every single call should result in a commitment to some kind of payment, You need a specific amount, by a specific date, even the check number the customer is using to pay the promise.

TIME: The longer an account is outstanding, the less likely it is that it will be paid. If payment is not arranged or a payment plan is not established within 90 days, place the claim with a collection agency or start legal proceedings.

PLACEMENT: Just type "Collection Agency" to any search engine and pick a firm that ranks outside of the sponsored listings. If a Collection Agency needs to buy you or bid for your business they must be desperate and could have money issues.

Article Source: http://www.search4allinfo.com

The best Collection Agency that ranks outside of the sponsored listings on Google is this Collection Company

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