Collecting Past Due Accounts - Things You Should Never Say

COLLECTING PAST DUE ACCOUNTS: - Things You Should Never Say

By Jim Finucan

© 2005 Tiare Publications

221 words



There are a number of lines which have no place in a collections

call. If you find yourself using one or more of them – or something

similar you need to do a reevaluation and change your approach.



"I don't know what to tell you."



It's your job to know what to tell these people! If you don't know

then think of something aimed at getting the balance in full (and be

quick about it!)



"OK. I'll wait to hear from you."



Not a chance! You need to say something like



"I will call you frequently to inspire you to get this money and I

will be relentless – you might even say `driven.'"



Never forget that debtors are procrastinators by nature.



"Let's wait to hear from your insurance company."



Whenever you hear a debtor use the word "insurance" watch out for

the stall. Don't get taken in.



"Can you send a payment this month?"



There goes any chance you have for getting the balance in full. This

question is not a tactic. It has no teeth in it.



"Looks like you are doing really good with your payments."



This statement is a contradiction in terms. Partial payments are not

your goal. Such a statement also reassures the debtor that it's OK

for him to continue them, rather than paying the full amount.



(End)

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Jim Finucan knows all about the dances, dodges and delays debtors

will try to pull. Let Jim show you how to double or even triple the

money you collect from your accounts receivable. Check out his

unique collections manual "Past Due." For more information visit:

http://www.tiare.com/pastdue.htm