What professional debt collectors want you to know about how they handle your accounts

Debt collectors have an enormous responsibility to every business they represent.

On the one hand, a business hires a collection agency to collect from customers that have not paid them. And on the other hand, it’s important to understand that keeping your customers is of equal importance.

Hiring a third-party collection agency is a big step for many businesses.

You want to be comfortable knowing that you’ll see the results you need, and you’ll also want to make sure that the agency you hire does not alienate your customers.

Collection agencies understand that they can play a critical role in the success of your business including managing difficult conversations with your customers.

Here’s what professional debt collectors want you to know about how they will handle your accounts and your customers professionally.

Debt collectors represent your business with professionalism

A professional debt collector is an extension of your business. They will employ tact with your customers and they will treat them with the dignity and respect they deserve. Treating your customers poorly is not the way to achieve results. And it is certainly not going to help you retain customers after the collection process.

Professional debt collectors use a strategic approach

Professionally trained debt collectors don’t just ask your customers for money. They employ a strategy to resolve the debt. They use active listening to engage the consumer and to understand why they have not paid your bill. This sets the tone for both the consumer and the collector to work together to resolve the outstanding debt. That can include making them aware of an oversight and a bill, or it can involve creating a payment plan that helps consumers meet their financial obligations.

Debt collection professionals help consumers

Of course, a collection agency’s main goal is to help a business collect overdue payments. But a collection agency is also in a unique position to help a consumer navigate a difficult financial situation. A collector can mediate a tough situation and, in the process, assist both the business and its customers. Oftentimes, consumers avoid communicating with a debt collector. But when they do, they found out that the process was helpful. And it got them on a path out of their financial difficulties.

Ongoing training and professional development

Collection professionals as well as other areas of the agency including customer service and account management professionals are constantly experiencing new training and professional development opportunities. It’s important for anyone in the collection industry to stay on top of trends, new ideas and compliance. It’s also critical for anyone working in this industry to experience mentorship and how they can do their job better.

They will follow all legal guidelines

Professionally trained debt collectors will follow the laws when it comes to collections. Next to being respectful with your customers, it’s mission critical. You may know there are federal guidelines for debt collectors in the form of the FDCPA. Each state can also have their own individual laws and regulations about debt collections. That’s why here, we place a high value on compliance.

Debt collectors focus on the details

From the conversations with consumers to the results obtained from our efforts, debt collection professionals focus on details. For example, focusing on the details of a phone conversation with a consumer can help a collector offer solutions to that consumer. Details also come in documenting efforts so a business understands how debt collection efforts are paying off. Debt collectors don’t just call consumers. They document efforts.

Debt collections is an important part of our economic engine

Many people, over time, have had a negative perception of debt collections. But the fact is, without the debt collection industry, our economy would suffer, and countless businesses of all sizes would lose out on much-needed cash flow. Many businesses would shut down if it were not for the debt collection profession. And that’s not an overstatement. Debt collections is a necessary extension of the accounts receivable program and as a result, helps the overall economy.

If you’re hesitating about using a collection agency, talk with us

Many businesses hesitate to use a collection agency because they feel they may lose their customers after the collection process. We do our best here to help you preserve your customer relationships. We do that by treating every one of your customers with the dignity and respect they deserve.

It’s important for everyone in the collection industry to understand that you have worked hard to attract and retain customers. And sometimes those customers have difficulty paying.

Sometimes, a business needs more information and peace of mind, and hiring a debt collection agency is the right move. That’s why it’s important to have a conversation and ask the right questions.