Credit Policy for businesses and how to extend credit and manage credit risk

When you pick up the phone to make a collection call, you will have already checked out the customers account, but do you have an opening line?

You will want to know what you are going to say before the customer answers the phone.  Your opening statement should be brief and to the point.  You need to identify yourself and your company, state why you are calling and what you want.

An example could be:

Hi, this is Michelle from KTM Auto calling about your past due balance of $500 on invoice #1234 dated 4/1/08.  I am calling today to take your payment over the phone to clear this balance from your account.  Would you like to pay with a check by phone, debit or credit card? STOP! 

WAIT for an answer and always assume the debtor will pay.