I recently had someone ask me how to make the perfect debt collection call. That was a new one for me, and made me wonder if there is a perfect collection call.
I didn’t have a perfect answer for this and so shared what I knew from my experience. Each collection call should have some basic principals. One is to be prepared for the call, knowing everything about the account history, payment history, order history, average order amount, average amount of time to pay, etc. Then the opening of your call, making sure you have the right person on the phone and introducing yourself and your company and stating why you are calling. Then the body of your call – working with the debtor, listening so you can offer a realistic solution and agreeing upon a solution. The final step in the call is closing the call – thank them, and reiterate your payment agreement before you hang up. Once you hang up send a confirmation letter outlining everything you agreed upon in the call.