Although it IS your money, you sometimes still have to negotiate or work to get it back.
The Nation Newspaper reported that retired banker Basil Graham gave a group of financial professionals this advice during a seminar on debt collection.
The responsibility of you or your collector is to motivate the customer or debtor to pay… you have to let them understand that you are not adversaries and your intentions should not be to fight, bully or break the law trying to get your money back.
Business owners as well as their customers become aggravated when the economy is in crisis, this can lead to short tempers, frustration and feelings of helplessness. Don’t let those feelings cause you to abandon your professionalism and treat your customers poorly.
When making collection calls during this credit crisis remember to always have respect, be professional and help the customer to come up with a reasonable payment plan, otherwise you may not get paid at all.
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