Rick Vaughn, Categories: No, in case you’re wondering it’s not a goal to harass, embarrass or irritate your relatives. These goals are the foundation of all collection efforts. It is an impossible to collect if all 3 of these goals are not obtained. Today we will explore these goals and give you some insight into how these may benefit you.
1. Get an acknowledgment from you that you owe the debt.
Rick’s Take: This sounds obvious but for some this is their 1st time hearing about the debt. This is prevalent in older cardholder’s and fraud victims. There is no telling how many times I have personally called someone and got the “what the hell are you talking about” phrase. If you get a call from a collector and you have no idea what he/she is talking about get a “Validation Letter” or a way of proving the debt. Remember, you only have 30 days to dispute the debt in many cases.
2. Get a promise to pay the debt.
Rick’s Take: This is pretty self-explanatory this is really what determines a great collector from good ones. At this point a collector is going to create a sense of urgency to pay this debt ASAP. We have all heard of the Golden Rule (Do unto others as they would do unto you). My point is this if you have no intention in paying the debt do not play games. As for as the sense of urgency well for the most part it’s probably a lie but if you are looking for a settlement its pay to do them quickly which also gives you leverage in negotiations.
3. Get a payment - partial or full.
Rick’s Take: The “Granddaddy” of them all. Both parties are happy your one step closer to getting out of debt and the collector has a chance to bring home some bacon. Partial or Full well that’s a subject for another time
The TRUTH is this is collections in its simplest form. However, by no means is it ever this easy and more than likely (if your good) 10% of your accounts will go this way. As a debtor you now see the goals of the person on the other side of the phone. If they delineate from this course then you might want to talk to some else (i.e. a manager).
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3 Comments until now.
What do you do if you have made an arrangement with a lendor and they continue to harrass you because they have archaic computer systems that will not allow them to change it in the system, only make a note in the file? (I’m asking for an elderly person who cannot use the computer :P)
Kelly,
Best bet is to talk to a manager. Make sure you make them aware of your arrangement and that should do the trick. If it continues file a complaint with BBB or FTC both are as simple as a phone call.
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