Compassion Is The Best Debt Collection Technique
by Heather M
(Vermont)
I have learned that having a bit of compassion for my customers is the best debt collection technique I have. I try to put myself in their shoes while maintaining a firm position. The individual needs to pay the debt, and we both know that going into the conversation.
I always try to work out a plan for debt collection that works for both sides. In the current economic crisis money is tight, and if the current payments are 3 months late I ask why. Sometimes it’s as simple as I can’t afford $400 a month. My question is then, “What can you afford?”
If they say $250 a month is all they can afford, but they just couldn’t afford the $400, I set up a plan to pay $250. I’ve learned in this economy some money is better then no money. Sometimes people who think you feel for them are more likely to want to pay their debt, and pay addition money then the agreed on amount.
As I said in the beginning there is no reason one human being should not be compassionate towards another, and that is the best debt collection technique I have.
