A question that is frequently asked is “What type of training do collectors go through?”
A reputable collection agency will have a training program that covers a wide range of issues, knowledge and skills that are required and will continually reinforce that training. Below are some of the subjects covered in the training of debt collectors.
Most reputable agencies hire people who can communicate well and then train them even further. The goal of an agency is to get payments secured for a client, so a collector needs to have superior skills in communicating with others. Debt resolutions come from a respectable dialogue and communication with consumers.
A collection agency with a good reputation will also hold regular meetings and trainings to review the quality of calls made to consumers. They will also use this time to review best practices in the industry, maximize the effectiveness of their communications and limit potential complaints made from those calls.
Local, State and Federal Laws
Since laws can change frequently training sessions on local, state and federal laws should be held on a regular basis to ensure compliance with these regulations. At American Profit Recovery there are meetings at least monthly and we incorporate other issues such as compliance with these laws as well as possible new laws and regulations that are being proposed.
One thing that sets apart the good from the great are trainings about the impact our industry has on the economy. At APR we make it a point to reinforce just how important our efforts are to our clients as well as to the economy.
Billions of dollars each year are put back into businesses and the economy by the collection industry, and it’s important for those trying to collect payments to understand the importance of their work. Quality training makes any business better and makes them different from others.
Hear what our own Matt Moskowitz has to say about reputable collectors in the video below: