Getting Paid, An Ongoing Series

A continuation, how to optimize on-time payments & getting paid, from Florida Debt Collection Attorneys Marcadis Singer, PA.

6.  Some things are forgivable.

We are all human, and we all make mistakes.  Collecting Receivables is a balancing act between getting paid timely, and not upsetting the business relationship.  Some times, checks really do get lost, sometimes things are legitimately forgotten.  We aren’t too sure about “the Dog Ate It”  but the customers response to the situation, and how quickly they send payment after the event will be a major “tell” as the the veracity of the event.  The balance is to agree that the client gets a “pass” this time around, or that terms need to be modified.  Allow some leeway, especially if the client reacts appropriately.

7.  Be The Professional

There are times when you know you are being fed a line of “untruths”.   It is never easy to be lied to, and often tempers begin to rise during those occasions.  Effective debt collection requires that you, the creditor, remain in control.   If you allow emotions to run away with the money that has already run away, you will be making the collections effort geometrically more difficult.

8.  Empathize with your customer.

When dealing with a delinquent customer, put their shoes on for a moment.  What would motivate them to make payment to you before someone else?  How would you, if you were them, respond to the approach you are about to take?  Odds are high that there is some money to be sent to creditors, and that many creditors are waiting to get paid.  Your ability to empathize and put yourself in their shoes may be the determining factor on where you are on the list of who gets paid when.

9.  No Communication, No Payments

Get the conversation moving.  If the debtor isn’t responding to letters, try an email asking if they are getting your mail.   Try a phone call.  Be open, be empathetic, but get the conversation started.  Make sure that your client/customer knows this won’t go away through non-communication.  The degree of indebtedness will determine the appropriateness of the extra communication attempts.