« Common Telephone Collection Mistakes and How to Avoid them | Main | Critical steps when closing a Collection Call »

May19
Closing the Call Checklist

REPEAT - "You will mail $25 today and then $50 each Friday until your balance is paid in full."

CONFIRM - send a confirmation letter with a stamped addressed envelope.

FOLLOW UP - call the debtor the day before the check was promised to be mailed to verify they will be mailing the check tomorrow.

FOLLOW UP - call the debtor on the day the check is to be mailed if you have not heard from them, to verify the check is being mailed that day.

FOLLOW UP - call the debtor the day after the payment was promised to verify the check was mailed, you can even ask for a check number.

FOLLOW up - if you don't have the check 3 days after the promise date CALL and ask for the check number, date the check was mailed, ask where they mailed it from. This will force them to answer questions about a check they may not have mailed that they don't want to answer. This can help persuade them to mail the check immediately, and mail all future checks on time so they don't have you "grilling" them about their payments.

As you can see FOLLOW UP is one of your most important collection tools.

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