The Best Practical Tips on Debt Collection

Do you need to collect debts? Find out how investigative measures are appropriate. After all, it will take time to search, from several days to a week, but in the end you just learn about the insolvency of the debtor. When conducting PR activities, it is necessary to collect and evaluate feedback: the reaction of the public, opponents, representatives of law enforcement agencies. Be persuasive. Influence the debtor regularly. Establish meticulous control from the moment the debt arises to its settlement. Debunk the myths about impunity of non-payment. The client needs to clearly understand what the consequences will be in case of non-payment. Use interest as a lever of influence. Form the conditions when the client is interested in debt repayment. For example, remove fines for late payment of debt in the near future.

A Practical Guide to Working with Debtors

Check the situations you may find yourself in:

  • Situation 1: "Yes, I promise to pay your bill soon." Your actions: Ask for confirmation of the fact of the existing debt, state the amount of the delay to confirm that it is known to the client. If the debtor reports a specific date of payment, you need to thank him for his firm promise, so that he would believe that he himself had sworn, gave the word to perform this task, for which he must take responsibility. When communicating with a responsible person, who asserts that he does not know when he will be possible to pay, we can talk about an alarming sign.
  • Situation 2: "We cannot pay, we have no money." Your actions: The simplest option you can recommend the debtor to take a loan. It is necessary to find out if the debtor organization ceases its activities; if it really stops, you need to urgently file a claim to the court. In case of a short-term liquidity problem, which should soon get better, and you work with a bona fide payer, then offer to pay part of the amount at once, and for the following payments an approximate plan is drawn up jointly - refer to the procedures of the credit policy of your organization.
  • Situation 3: "Documents are already in the accounting". Your actions: Such an answer is usually a way to de-personalize the problem with the removal of personal responsibility - ask to connect you with an accountant, call him/her your full name; it is necessary to determine the reason for the delay, if necessary, sending the necessary copy of the document again - perhaps, the accounting department simply did not receive the documents;
  • Situation 4: "We should receive payment from our customers soon. Then your bill will be paid. " Your actions: You should confirm that you perfectly understand how unpleasant it is to work with unpaid bills, you need to add at the same time «You are also in a similar situation, you cannot pay the bills of another company».

Follow these effective tips and you will definitely achieve your goal faster.