Debt Collection Realities – Top 10

So many of our clients around the state have beliefs about how best to collect debt on their own, that by the time the debtor ends up in our file, things have gone far afield.

We would like to set the record straight with some Debt Collection Realities.

  1. The more delinquent a debt, the harder it is to collect
  2. The telephone is still the best collection methodology
  3. The longer you wait to call to collect on a debt the less serious the debtor will take you.
  4. Slow payments hurt everyone.  They tie up the creditors cash flow, and extend the amount of time bad credit stays on the debtors credit record
  5. Strong arm tactics lose.  A firm, professional, and polite debt collection process garners debtor’s respect, and increases payment speed.
  6. Form Letters are ineffective.   Personalize your notices by merging with mail list so that every letter is personalized.  A form letter is really a milestone in the documentation requirements that lead from debt collection to court.
  7. Front Line Debt Collectors almost always wait too long before escalating a delinquent client up the chain of command, or referring to legal action.
  8. Most deductions to the amount paid are a direct result of errors made by the seller.  Use Debt Collection specialists as consultants to fix internal processes.
  9. Great Collectors ask for and expect payment for the entire amount due.  To expect otherwise compromises you from the beginning as you negotiate the debt.
  10. The only successful call, is the one that results in a payment commitment.  Always drive to reach someone that can make that commitment, or your call is a failure.


Marcadis Singer PA are Florida Debt Collection Attorneys.

Please review our services in major Florida Cities.

Tampa Debt Collection Attorney

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)