July 29, 2020 by Lisa Brammer
There is an art to being successful at collections. The process requires, at the very least, some finesse to calm the “fight-or-flight response” many consumers experience when dealing with debt and those who collect it. But, before you send out your first statement, there are some simple strategies you should be using that will make recovering money owed to you easier to do.
1. Accurate and detailed demographic information – This might sound like a no-brainer, but I can’t tell you how many accounts we’ve received for collections that are missing critical information. This type of information would include: name, address, home/cell phone numbers, date of birth, Social Security number, marital status, and place of employment. Don’t forget address and phone number of employer.
2. Have a financial agreement or contract in place – It’s important you communicate a clear understanding of your expectation of payment for services…
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