Do you ever wonder what makes one debt collector more
successful than another? Ever consider
what they do to get receivables cleared and money coming in? What does a successful company do differently
than one that isn't? Is it something
they have a natural talent for or did they go to school for it? With several discussions and interviews it
seems to be a combination of natural personality traits as well as techniques
people can use. When you’re hiring an
agency or an individual there are a few things you can look out for that will
help insure you work with the right people.
It is true that there are some natural tendencies people are
born with that will help them be more successful at collecting on debts. Some of the personality traits that lend themselves
to debt collection are:
- Self-motivated and able to work independently
- Diligent
- Can separate business from personal affairs
- Organized
- Doesn't anger easily
- Can see through situations that are complex
Some of the skills that are taught that help with debt
collection are:
- Good skills with customers
- Understanding of company policies
- Sales and marketing
- Basic accounting understanding, especially receivables
- Ability to research claims
- Techniques for skip-tracing
Generally speaking the two largest assets that are going to
help a debt collector get accounts receivable in order are patience and
perseverance. Making the calls and
sending out the letters consistently until items are checked of your list and
money is being deposited. When hiring
debt collectors it’s important to know that perseverance and self-motivation aren't skills that can easily be taught.
In addition to having some of these natural tendencies there
are certainly skills that will need to be learned. A solid understanding of the legalities of
both the state they are working in as well as federal law will go a long way
with helping insure the debt collection is done well and properly.
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