What happened collection call script

THE ONE QUESTION COLLECTORS WONT ASK AND WHY IT WORKSSteve HodgdonModern Asset [email protected]

Why Listen to This Webinar

Become happier and more effective in your dealings with customers and in every day life.Learn tools for successful collections and keep customers happy at the same timeTake some stress out of your jobCollect more $$

WHAT HAPPENED 2014 - All Rights Reserved - [email protected]/7/2014

Why Listen at all?To learnTo connect and relate to anotherBecause we have 2 ears and only 1 mouthTo get what we wantBecause reading a joke is never as funny as hearing one


Lets make some MONEY!


What kind of Collector are You?Old School

New School


Attributes of a Great CollectorBrave, unafraid of conflictWants to WINGreat communicatorHard workingStrong sense of right and wrongGreat detective

Good attention to detailGenuinely likes peopleKnows a lie when she hears itNo nonsenseTakes themselves seriously


Now The Secret Sauce!Changes the game.Changes your POVTakes the customer off defenseOpens the door to solutionsMakes your job easier80% effective


WHAT HAPPENED?What happened? Ask this like you MEAN IT.Allow the customer to tell you what unforeseen problem, whatever reason they had to not pay. Truly hear them, whether you believe the excuse or not, whether its valid to you or just a stall. Oh, so you didnt pay because the car broke down and you couldnt get to work. Is the car fixed? (or whatever the reason for not paying was). If they tell you What Happened, then theyre half way to paying.WHAT HAPPENED 2014 - All Rights Reserved - [email protected]/7/2014

Ask Again What Happened?Take a moment to let the customer know you actually heard them. Oh, that must be difficultThats a lot to shoulder all at onceIt sounds like it was temporary, thats good

This ONE action separates you from all the other collectors landlords and utilities that they owe money. This isnt their only bill. We ALL owe somebody something. Dont judge. Engage!WHAT HAPPENED 2014 - All Rights Reserved - [email protected]/7/2014

Going from Us vs. Them to WEDid we help you by lending you this money? What did you use it for? (overcomes the objection that the loan wasnt of value to them)

Would you have paid this back on time if you could have? (who would say no?)

Do you think of yourself as an honest person? (A challenge for them to state their values)


Going for the Close -Problem solve and Find a WIN/WIN solutionYou promised to pay this when you borrowed the money. Do you remember that?Do you have a solution? How do you want to make this right?Can we deposit your payment today? No? When will your check clear?Why isnt this important to you?WHAT HAPPENED 2014 - All Rights Reserved - [email protected]/7/2014

Suggested ResponsesThe cat, dog, uncle died. Oh, that must have been hard. But I dont understand how that connects to your agreement to pay this back? Straight Refusal No? You wont pay? Now hang on a minute! Didnt you say (repeat back when they accepted responsibility)No MoneyThat must be tough. You understood the terms when you borrowed the money, right? I want to help you avoid more interest. What CAN you do?Next paydayWhat happened to this paycheck? Why will it be different in 2 weeks? How about an ACH for $xx.xx today and we will (offer incentive).


What works for you?You are a professional bill collector. You know what life issues your customers have.What works? Share with your coworkers.How quickly do you know theres no hope? Move on to the next account. Take the next steps.How do you keep good will and still generate revenue?

Oh, how to tell if you might be breaking a law?The Giggle TestIf you tell your buddy about your talk off and they giggle then maybe you went too far.


Give What Happened a Try!Try it! You might like it!Engage. Listen. Relate. Be human.Be a problem solver.Enjoy your work. Youre stuck here for 8 hours. Have some fun! Set some personal goals. Contact [email protected] or visit www.modernassetmanagement.com for more collection views and solutions for A/R improvement.WHAT HAPPENED 2014 - All Rights Reserved - [email protected]/7/2014

What happened collection call script

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