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Collection calls can make or break collection agents. They are the keys to success or the reason for ultimate failure. Emails and text message may be the most effective form of communication in some industries, but the telephone still rules the day in this business. The job description of a collections agent is to convince debtors to pay their past due debt. This simply cannot be accomplished through electronic forms of communication. It is far too easy for the debtors to ignore.
When people must face a live person on the other end of the phone line, it becomes significantly easier to convince them to make a payment. Agents will certainly face multiple excuses when speaking to a debtor. However, excuses lead to opportunities as long as the agent is armed with the correct answers and attitude. It takes a great deal of time and effort to pick up the phone and dial a list of debtors each day. That is why it is so important that each and every call is as effective as possible. The following tips will help collections agents close more deals and may even be helpful for training collection agents.
Tip #1: Be Confident
Confidence is key when it comes to making collections calls. Always keep in mind that the collections agent is providing a solution to the debtor. Settling past due accounts is a way out of the constant stress and frustration that the debtor is feeling. Once again, nobody actually enjoys owing money to another party. In addition, collections agents feel more confident when they can offer easy payment choices to the debtors. It is important for the business to have a collection agency credit card processing system in place. Payment processing specialists, like Payment Savvy, are able to set up a collection agency merchant account. This enables collections agencies to accept credit and debit card payments. Payment Savvy can even incorporate free payment processing.
Tip #2: Communicate In A Professional And Polite Manner
Collections agents need to keep in mind that the person they are speaking with is in a difficult situation. Nobody on this earth enjoys being in debt, especially past due debt. The debtors are under a great deal of stress, and typically will have very little patience. Collections agents need to show a high level of respect. They need to be professional and polite. Words like please and thank you certainly go a long way. It is important to pay full attention to the conversation. Always avoid distractions such as surfing the Internet. Do not eat or chew gum during the call. It comes across as being rude. Read more about creating a positive call experience here.
Tip #3: Call The Debtor At The Correct Time Of Day Or Night
There really is not such thing as the standard workday. People work various times and shifts throughout the day and evening. It is important for debt collectors to avoid hours of annoying and time wasting phone tag by knowing when the debtors are available to speak. The best way to figure this out is during the first contact with the debtor. Collections agents should always ask when the debtor is available for follow up calls.
Payment Savvy specializes in providing collections agencies with the ability to accept credit card payments from debtors. Please contact Payment Savvy today to review your options, apply for a merchants collection agency account, and to obtain answers to your questions. We look forward to hearing from you and working with your business.
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