Attend this exciting program and receive valuable information to get the money in the door for you and your clients, while maintaining client relationships. Learn to identify the debtors you should maintain your customer relationship with and those you should avoid. Also, use proven techniques to help your debtor/customer with their cash flow so they stay in business and want to pay off their debts.
- Have you finished your job?
- Learn to dominate the telephone
- Setting up a collection life cycle
- When to get the collection agency involved and what to expect from them
- The attendee will be able to discuss e-mail/voicemail and its place in collections.
- The attendee will be able to identify when to move the debt from a slow pay to a difficult debt.
- The attendee will be able to review legal issues.
8:30 a.m. - 12:00 p.m.
(Break 10:30 a.m. - 10:40 a.m.)
I. Have You Finished Your Job?
A. Is The Client Right Or Are You Right? Steps To Make Sure You Are Right
1. Steps To Keep Accounts From Being Flagged As Bad Debt When They Are Not
2. Follow-Up And Follow Through
3. Dispute Resolution: Tact And Diplomacy
4. Billing Errors: Effectively Correcting Errors To Satisfy Your Clients
5. Dotting Your I's And Crossing Your T's
B. Review Your Credit Policy: Help Or Hindrance
1. Who Owes You? Companies vs. Private Owners And Individual Debt
2. Personal Guarantees And Promissory Notes, Do These Help?
3. Credit Applications Before And After The Sale
a. Getting As Much Info Upfront As Possible Cell Phone, E-Mail Addresses, Owners Names
4. Credit Reports, Dunn And Brad Reports Knowing The Indicators
5. Keeping A Tight Reign
II. When To Move The Debt From A Slow
Pay To Difficult Debt
A. Client Or Debtor? Identifying Who Wants To Be A Customer/Client/Patient And Who Is A Deadbeat
B. Identifying The Client's Personalities
1. 'I Know Your Boss' Personality
2. 'Pity Me' Personality
3. 'The Deny Everything' Personality
4. 'The Check Is In The Mail' Personality
5. 'I'm Calling My Attorney' Personality
6. 'I'm So Embarrassed' Personality (Open To Floor To Get Feedback From Participants)
III. Learn To Dominate The Telephone
A. Overcoming The Objections For Paying While Maintaining The Relationship
1. Phrases To Use
2. How To Establish A Rapport With A Debtor Make Them Pay
3. Art Of Negotiation Getting To 'Yes'
4. Preventing The Gatekeepers From Keeping You From The Debtor
5. Getting A Payment Plan In Writing
6. Good Faith Payments
7. Cod's New Sales And Paying Down Old Debt
IV. Technology: E-Mail/Voicemail And Its
Place In Collections
A. How To Present A Professional E-Mail
B. Leaving Professional Voicemails
V. Setting Up A Collection Life Cycle
A. Watching Your Aging Days Outstanding
1. Knowing The Collectibility (We Will Provide A Chart)
B. Sending Statements And Letters
C. Verifying File Information
D. Do What You Say You Are Going To Do!
VI. When To Get The Collection Agency
Involved And What To Expect From
A. Are You Wanting To Keep The Client? Communicating With The Agency
1. Easy Does It
2. Go For It
3. Know If You'll Go Legal
4. Credit Reporting
B. Age And Balance What To Expect From The Agency You Select
C. Adding Interest And Collection Charges In The State Of North Carolina
D. Working As A Team With The Agency When The Customer Calls You
12:00 p.m. - 1:00 p.m.
Lunch (On Your Own)
1:00 p.m. - 4:30 p.m.
(Break 3:00 p.m. - 3:10 p.m.)
VII. Legal Issues Do You Always Have To
A. Understand The Law Of Collections From The Fair Debt Collection Practices Act To Fair Credit Reporting Act, And More
B. When To Get The Collection Agency Involved
C. When To Get The Lawyers Involved
1. When To Sue And Whether To Be The First To Sue
2. Negotiation Of A Structured Settlement
3. Foreclosure And Other Collection Methods Of Secured Assets
4. Forcing The Customer Into Bankruptcy Tough Love