Commercial Collection

Person to Person

If all else fails and if it is practical, the final step is to arrange a personal interview with the customer.  Personal interviews are the strongest demand for payment.  The interviewer must show authority and positive ability to negotiate the claim, if necessary. At this time, the customer must pay, show valid proof of a dispute or be completely honest in stating their financial position.  A commercial collection interview requires business-like persistence,
firmness, tact and an impersonal attitude.

Aids Needed on Collection Visits

Try to get the customer to come to your office. If it is necessary for you to go to see them, you may need these
items:

  • A copy of the customer’s ledger.
  • Copies of invoices involved.
  • An envelope addressed to you.
  • Copies of correspondence.

Basic steps in a personal interview are the same as on the telephone. You should confirm all information on your
application form and make sure it is up to date.  Then, you should determine the problem. Once again, it will be one of three things: a lack of funds or a belief that there is lack of funds, a dispute or a refusal to pay.

If it is a refusal, you have no choice but to place the account with your collection service. If it is a dispute, once again you can immediately decide whether it is a bona fide dispute or an imaginary one and take the necessary steps to
resolve it. Disputes, valid or invalid, are handled in the same manner as in the telephone interview.

Finally, when you have found a solution, if it is not a payment in full, put the arrangement in writing.

 

Acknowledgments.

This series of articles come from a fantastic publication published by the IACC  (International Association of Credit Collectors).   It is well grounded and fundamental advise that should be ready by any professional involved in credit collections.

 

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