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An
experienced collection attorney will tell you that to successfully collect from
tardy customers requires time, effort and skill in negotiation. It is a dynamic that must be practiced to be
perfected and it requires both firmness and understanding. The following tips can help you collect debts
successfully.
Negotiation
Is Key
To be
able to collect debts, a thorough understanding of how negotiation works is
necessary. Negotiation is a process
between the debtor and the creditor, and as a debt collector, you have to
understand all of the processes involved to be able to recover debt. This includes understanding how the credit
approval process, billing and payments work.
Without a good understanding of all of the steps leading to the debt
that you are trying to recover, then you are not in a good position to collect.
Avoid
Persecuting
A
debt collector must also understand that no one wants to feel like they are
being persecuted, even though they are responsible for the debt. Offering a solution to the debtor’s problem
that can be viewed as a win for both parties will allow you more ease in
reaching an agreement. To do this, you
must be clear on what the creditor will accept in terms of payment, and you
must be firm with the debtor to ensure that you get at least that amount for
the creditor.
Be
Confident
It is
important for a debt collector to be confident when trying to reach an agreement
with a customer, but the debt collector must also be willing to listen. Patiently listening to what the debtor has to
say will go a long way in helping you to reach an agreement. If you interrupt a customer or make it clear
that you are unwilling to hear what the customer is saying, you are almost
guaranteed failure. After listening to
the customer, then you must be confident yet polite when offering a solution. For help collecting on unpaid debts, contact
Ross Gelfand at www.collectionfirm.net
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