Essential Debt Collecting Skills – Negotiating

Observing a Master Negotiator at work … is an ‘Art Form’.   But, did you realise YOU could EASILY become one yourself? 

NEGOTIATION is an essential skill in our everyday interactions. We daily use it in all areas of our life without even realising it.  Some people are naturally better negotiators than most.  But negotiation is a skill that all of us can learn to master if we put an effort into it.

Becoming a master negotiator will help everyone generally in life, but especially in business.

The role of effective negotiation cannot be underestimated in the debt collection. Debt collecting requires you to become a master negotiator and master the skill of finding a win-win situation that would make your client happy to pay you, and to pay you as soon as possible. Continue reading

6 Ways to Get An Angry Customer to Back Down

Dealing with customers on the phone is arguably more difficult than dealing with customers in “face to face” situations. This short training telephone skill video will provide practical tips and techniques to support your staff in dealing with some of the demanding and awkward situations they must face in dealing with angry customers.

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Debt Collections – How To Get Customers To Pay up (Part 2)

“Customer service is not a department, it’s an attitude!” – Unknown

This is the 2nd part of the article, read our first blog post as an introduction…

A good debt collector knows that the “Carrot and Stick” approach also works with customers.  So, how does this technique work in debt collecting?

The previous post was about the “Carrot”.

Now, the “Stick”: Continue reading

Debt Collection – How to Get Customers to Pay Up (Part 1)

“Being on par in terms of price and quality only gets you into the game.  Service wins the game.’ – Tony  Alessandra 

If you want to make things happen the ability to motivate yourself and others is a crucial skill. Smart businesses use motivation to get results in their debt collecting. Motivation requires a delicate balance of communication, policy and incentives.

At the same time, if you want your customers to pay up consistently and on time, you have to have the ability and techniques to make them want to avoid the negative consequences if they do not pay debt on time. Continue reading

How To Not Collect a Debt (Part 2)

“I like to do all the talking myself. It saves time, and prevents arguments.” – Oscar Wilde

” A foolish man tells a woman to stop talking, but a wise man tells her that her mouth is extremely beautiful when her lips are closed” – unknown 

The video in the previous post is funny, as it teaches a crash course on How not to talk in a debt collecting call. 

When making a call, do you make note of the following;

  • The tone of your voice?
  • The  knowledge of the actual debt?
  • The answers given following the client’s comments? Continue reading

How to collect debt and keep the client for years to come

‘As I go through all kinds of feelings and experiences in my journey through life — delight, surprise, chagrin, dismay — I hold this question as a guiding light: “What do I really need right now to be happy?” What I come to over and over again is that only qualities as vast and deep as love, connection and kindness will really make me happy in any sort of enduring way.’ Salzberg

‘If you’re a debt collector, it’s like getting struck by lightning every now and then. You’re having a great day and then BLAM! Your debtor who you chase for payment starts being really unpleasant and yelling at you over the phone. Something is terribly wrong and you are in the hot seat.

What do you do? Continue reading