Taking on a collection agency doesn’t have to be a worst-case scenario situation. Overcoming the myths that run rampant with the collection agency industry is something that holds many companies back from getting great value on an excellent service.
The collection experience today is different than it was decades ago when a few companies practiced hard tactics that tarnished an entire industry. The collection experience that agencies offer today is one that keeps clients in good standing with their customers.
Collection agencies use a variety of techniques based on respect and understanding to bring value to those who partner with them. For instance, when a customer becomes delinquent, collection professionals will attempt to call them and talk about why they are late. The goal here is to get the delinquent account to make a payment, so there must be a sense of urgency on the part of the collector. When a sense of immediacy is put into the call, the delinquent account is more apt to schedule a payment for sooner rather than later.
Delinquent accounts always come with an excuse, some more valid than others. The best response is understanding, but also questions. Each rebuttal will be in the form of a question. Arguing is not the standard, but simple questions are. The customer might say they never got the invoice. The collector makes it a practice to ask for the address and make sure that the agency indeed has the correct address to send the invoice to the client.
While excuses should be followed up with questions, it’s important to always listen first. Caring goes a long way in customer satisfaction surveys. If you take the time to listen to the reasons for the payment being late, a possible solution can be found. Listening doesn’t mean the collector becomes part of the customer’s family and takes his/her side. The relationship stays professional and the collector stays on task and maintains a serious and urgent but understanding tone.
Taking a personal touch is only a natural response when the customer begins pouring his/her heart out about why they can’t make payments, but at no time should the personal touch on the part of the collector be mistaken for something that can be taken advantage of. Persistence is the key, because if any extra time to make a payment is given, the customer will likely take the collector up on it and the account remains unsettled.
Professionals like those at Omega RMS, llc., know how to address all types of customers, from the ones that need just a little nudging to stay on top of their payments to the delinquent accounts that are months past due. Not only does Omega have the technology to find the old debtors, they are equipped with professionals that know how to address every situation and produce results.