Working in the industry of debt recovery can be regarded as a real challenge. But, large or small, every business needs to get its money back from bad payers and the best solution in this case is appealing to companies which are specialised in this domain. For example, in Australia, a leading authority in this domain of debt collection is the company called ACM Group which comes with long years of experience. Its good position on the market, has allowed the company members to create some unwritten rules which are usually applied when it comes to this particular domain.
Therefore, if you want to become part of this industry, you should follow these rules. Some of them are revealed in this article, but also, the corporate site should be considered a good inspiration for you.
Politeness – the secret of recovering the money on time!
Do you know that companies from this domain are regarded as being violent? Well, they should not be so, due to the fact that there are some companies, such as ACM which are able to recover client’s money, by using polite techniques. This means that their agents are not allowed to use offensive words or other types of violence.
Do not exaggerate!
Believe it or not, harassing the bad payers is another form of violence which can have consequences. This means that the debt collectors should start by sending only one e-mail where they ask the bad payers to give the money back. If this e-mail does not have any result, they can send the second one or use a more direct method, such as calling the debtors. And if you wonder, how money can be recovered without violence, you should know that this is possible by choosing some persuasive methods. Some small details such as the tone of the voice or the gestures (when it comes to a face-to-face meeting) are the ones which make the difference.
Keep it discrete!
Debt collectors have the duty to keep the information secret about their clients, but also about bad payers. This happens especially because, in many cases, your customers will have to work with the bad payers again.
Communicate with you clients!
Communication is another key point that you have to take into consideration when you become part of this industry. You will have to talk to your customers about the methods that you use and to let them know how things are going. Moreover, you have a deadline for recovering the money, you should make sure that you can respect it. Making promises and not respecting them is a thing that can affect not only your reputation, but also the reputation of your company.
Love your job!
If the job in such industry does not appeal to you, this means that you cannot find it the right ways of doing it right. Therefore, maybe a good solution is looking for something else which is more suitable. On the other hand, experts say that you should not give up immediately. You can ask for a longer training period and you should try to learn more from the others.