April 8, 2013

Debt Collection – Commencing a Debt Collection Phone Call

Filed under: business debt,Collections Advice — Peter Pinette @ 2:08 pm

Have you heard the saying, “You never get a second chance to make a first impression?” This saying is very accurate when speaking of a debt collection phone call. A debt collection phone can go incredibly right from the beginning or it can horribly wrong. The first few words you say will either make or break the chances of collection. We will cover the best way to make your introduction in a debt collection phone call and greatly increase your chances in collecting the bad debt.

The predictable and normally used approach cuts straight to the chase. You introduce yourself and bring up the unpaid debt. There is nothing wrong with this approach; however it is plain and does not create any interest in the debtor to pay. The debtor is caught up their own world and it will take a more captivating approach to pique the debtor’s interest.

The more appealing approach is to preface the call and use the debtor’s name as often as you can. Everyone enjoys hearing their name and debtors are no different. It is also important to bring up the debtor’s reputation or something that is at stake if they do not pay the debt. Also show your understanding stating that you understand there may be many reasons why the debt has not been paid, but you are here to help him restore his credit and reputation. This approach is much more effective when making a debt collection phone call.
Remember to stress the importance and urgency in regards to your phone call with the debtor. The more incentive you can get across to the debtor, the more likely they will be to pay. Remember the importance of your initial approach to a collection call, this first impression can make all of the difference in whether you are able to collect the bad debt or not.

Flathmann & Stern, LLC, specializes in business debt collection. They have over 30 years of experience in the industry and are the right choice for your needs. To find out more visit http://www.fsbizcollect.com/ and get your business debt collected. We guarantee your collection or its free! Come and check us out today Business Debt Collection

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  1. The best shot you have is the first call. It is where credibility is won or lost. Great info and very true.

    Comment by henry — May 3, 2010 @ 6:29 am

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