Telephone Collection Techniques
Capable, effective telephone collections personnel are a critical part of the collection process.
Let’s be honest. Few people get excited about the thought of picking up the phone and asking a past due customer for money. The key to becoming a confident and productive collections professional is preparation, learning basic skills, and discovering a few tricks of the trade.
This workshop for Telephone Collection Personnel is the complete package:
- Collection’s Value Proposition: the cash flow cycle, sales, and DSO and cash flow; delinquency’s effect on probability of collection
- Knowing Your Customer: understanding how the relationship of businesses within an organization as well as the legal structure of the organization can effect collection efforts
- Knowing Yourself: your attitude, voice, approach, and listening habits
- Call Preparation: what you must have at your fingertips before you make the call; do’s and don’ts and important tips
- The 7 Step Collection Call
- Overcoming Objections: “won’t pay” vs “can’t pay”
- Working with 3rd Party Collection Agencies: standard OCA procedure
- Litigation: when to sue, types of litigation, court costs and suit fees
- Bankruptcy: an overview of Chapters 7, 11, 13