Perfection

Why not strive for perfection? Certain things you can control and one of those items is how you work your accounts. Everything can be defined and worked exactly to your specifications. The one thing you do not have total control over is the effort your collector puts forth and the interaction between the collector and the debtor.
Your workflows will determine when letters are sent and what actions will occur and when. Once the account goes into a collector queue, the human element comes into play. You can script the talk off and provide guidance on how to handle objections. Scripts are important as a crutch and as a training tool, and sometimes will be enough to get the appropriate result. After all, how many possible scenarios can there be. The reasons for not paying have been heard and chronicled. “I don’t have any money.” The collector responds, “Can you borrow the money? or Do you have a credit card?”
Record your best collector’s negotiations with the debtor. Then make those recordings part of your training program. Reward good performance early and often. Set your collection targets for new collectors so that you bring them along slowly. If they make some big commissions early, then everyone wins!


 

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