Telephone Collection Resource Center
Much of your collection will undoubtedly be over the phone and this section of our site is devoted to giving you resources to help you make the most of your telephone collection efforts.
- Practical strategies
- Learn to overcome any excuse
- Discover the secrets of the best collectors around
- Master ways to stay in control of your calls, even when customers want to send you in another direction
- Ways to stay fresh and energized, even in the face of difficult calls
"When collectors are talking with debtors, they need to pay attention not only to what the debtors are saying, but to how the debtors seem to feel about what they are saying. contends Leonard Sklar, a former collection agency owner and now a professional collections consultant based in Redwood City, Calif.). "Collectors who fail to deal with debtor emotions rarely ever reach the root of the problem. Key points covered:
. . .
- why most collectors stay too long with an account, and why this trait hurts productivity
- what the top goal (other than collecting the money, of course) should be in a collection call
- the surprising way he reccommends helping collectors be more effective in getting to the root cause of debtors' problems
Second Notice? Call Instead|
"If you're spending time preparing second notices only to have them end up in someone's circular file, it's time to consider other collection methods," suggests the manager for a Virginia dental consultant group. Her people advise clients to forget second notices and call instead. In her experience, collection problems are usually caused by any or all of the following reasons. This article details the five ways this office manages a first rate collection operation. . . .
Medical Collections by Phone|
While acknowledging that a series of letters can be useful in medical collections, Dorothy Sweeney, vice president of the Health Care Group, Inc. (Plymouth Meeting, Pa.) contends that the telephone is much more effective. Learn...
. . .
- The importance of preparation before making a collection call
- Five questions you should know the answer to before you make your collection call
- Other preparation you should make make prior to each call and why it's so important
- A very specific, seven-step process once the call is made
- The pros and cons of allowing the debtor to speak with the physician
- Specific strategies to use once you determine which category the debtor falls into (slow payers, hardships)
- Positive collections: Four specific ways to offer encouragement that may help bring payment in
- When to give up and turn the debt over to a third party
Six Guidelines for Improving Cash Flow With a Telephone Collections Program|
Remember when credit analysis was the primary focus of credit management? "That's all changed now," contends one New Jersey credit manager. "Today, credit professionals are under a lot of pressure from their companies to improve cash flow, and this is where their new focus is." And what's the best way to improve cash flow? His preference is the telephone. And he contends that anyone seeking to establish an effective telephone collections program should keep six major points in mind: . . .
Collection System Improves Productivity|
"We were handling delinquent accounts with a manual card system, and it was limiting our growth," says Joseph Higham II, assistant vice president of the National Penn Bank (Boyertown, Pennsylvania). " . . .
Telephone Collections: Nine Tips|
Here are nine guidelines of Receivable Management Services designed to help you with your telephone collection efforts: 1) Get or confirm the name of the person in charge of paying invoices. 2) Find out the best time to reach the person you are . . .
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