Repossion Directory
Repossession Information - Repo Tips
HOME SKIP TRACERS REPOSSESSORS COLLECTORS BAIL BONDSMEN TOWING FREE LINK EXCHANGE AD RATES CONTACT
This Space For Rent!

Repossession Service directory

Repossession Information - Repo Tips
Collection Tip

"Questions"

When you are questioning your debtor, don't ask questions like, "Are you going to pay this bill?" It's too open ended, you have made it too easy for him to say no. Instead ask, "How much of your bill do you intend to pay today Mr. Debtor?"

If you don't like the answer a debtor gives you, then think it through, and next time try to phrase the question so that they have to give you a more favorable answer.

More Tips

Repossession Information - Repo Tips
Sponsors


Nationwide Repossession Service

Help Find Missing Children

Fast Repossession Service

Debt Collection Agency

Utah Repossession Service

Atlanta Georgia Repossession Service

Nationwide Auto Transport

Nationwide Repo Man

Contingent Repossession Service

Free Collections Tips and Links
Repossion Directory
Debt Collection Information, Tips & Tricks

Here is some basic information on debt collections and skip tracing for debt collections. Please e-mail us if you have a skip tracing link or tip that you would like to see added to this page.

Take a minute and bookmark this page as we are regularly updating it with even more debt collection tips and tricks.

Repossession Information - Repo Tips
Fair Debt Collection Practices Act
Here is a link to the Fair Debt Collection Practices Act. If you are going to work in the collections industry, you should read it, learn it, and adhere to it.

Fair Debt Collection Practices Act

Many collection agencies teach you that it is illegal to call a debtor outside the times of 9:00 AM through 9:00 PM. The law actually says that you can't call a debtor at a time known to be inconvenient to the debtor. So if you know that your debtor works third shift and that he is sleeping at noon, it is illegal to call him at noon. Please take the time to read the law, not someone else's interpretations of it.

Repossession Information - Repo Tips
Ten Tips to Successful Debt Collecting
Tips on how to collect debt:

PREPARE: Review the paperwork on the debtor before making the call. Know the history of the account, credit record, the promises kept/broken. Have all records in front of you, ready for reference.

ATTITUDE: Adopt a straight, professional business-like attitude. You have a contract, you delivered the goods, money is owed, and you have a right to expect payment. Never let it become personal. DonŽt yell or raise your voice; and NEVER swear. DonŽt threaten; legal action is your recourse.

CONTACT: Make sure youŽre talking to the right person. DonŽt let the individual brush you off with "YouŽll have to talk to the bookkeeper." Identify the person who will pay the bill. If you canŽt get through after several calls, tell the secretary that you know your calls are being screened. Indicate the purpose of your call and if necessary give deadlines.

CONTROL: Control the conversation. Keep it focused on the debt and on the repayment schedule. DonŽt let the customer sidetrack you with personal history, excuses, etc. Remember, the object of your call is to collect money, or get a commitment, not to become buddies with the customer or win arguments.

FLEXIBLE: Be ready to adjust to the situation. Think about the kind of customer youŽre dealing with and adapt to meet the circumstances. Be prepared to accept a reasonable payment schedule, and a willingness to deal with a customerŽs circumstances.

NOTES: Keep detailed, accurate notes of every contact with the customer. Probe for further information on the customer. Notes of these contacts will help you in subsequent phone calls, and may be invaluable in litigation. Good notes will also help in further credit decisions, or in cases where skip tracing may be needed.

PRODUCTIVE: Keep contact brief and to the point. This is a business call, not a social one. View your efforts on a ratio of time expended to results achieved. Long conversations probably mean the customer is stalling you, or trapping you in the buddy syndrome.

PRECISE: Never leave a contact open ended, such as "WeŽll talk next week," or "IŽll send what I can." Every contact should result in a commitment to payment, of a specific amount, by a specific date, even the check number the customer is using to pay the pledge.

TIME: The longer an account is held, the less likely it is that it will be recovered. If payment or a payout is not arranged within 90 days, place the claim with a collection agency or start legal proceedings.

PLACEMENT: Use only an agency that is a national debt collection agency. This will insure that youŽre dealing with ethical professionals who are fully bonded to guarantee your remittance.
Repossion Directory
Sponsors


Repossession Information - Repo Tips
Collection Tip
"Top 5 Collection Tips"

Assume that most people are honest and want to pay you. Treat customers with respect during the collection process.

Try to find out why a customer is not paying. Has he fallen on hard times—a lost job or ill health? Or, is he withholding payment because your product was faulty or your service was poor?

Keep a customer’s total payment history in mind. If she has paid on time over the years, don’t jump on her with a collection call the first time she’s late.

Be a good listener. When you understand the situation, you can come up with solutions that will help the customer get you paid.

Remember that friendliness will help a customer want to pay you first.

More Tips

Repossession Information - Repo Tips
Free Link Exchange | Ad Rates | Privacy | Terms of Use Agreement
Copyright (c) 2006 - Repo-Links.com - All Rights Reserved