Customers are the vital spark of business, providing the revenue that supports sustained success and growth. When customers fail to make full or partial payments on goods or services, it can adversely affect cash flow and hinder progress. Businesses that respond to unpaid charges with in-house receivable efforts often lose crucial time and profits because they lack one or more of the following: a well-trained staff, compliance, certification, collections technology and data security. To maximize resources, businesses would be best served by an experienced debt collector working at a best-in-class agency.
Just as businesses rely on customers for success, a debt collection agency’s performance is largely based on its collections staff. Companies in search of a best-in-class collection agency should first review the quality of the front-line debt collectors to make a proper evaluation. The Optio editorial team has gathered a shortlist of top collector qualities.
Policy Comprehension and Retention
It is critical for collectors to obtain missing client payments in a legal and professional manner. With proper training, an effective collector possesses an in-depth understanding of the federal and state laws that govern debt collection practices. Federal laws include the Fair Debt Collection Practices Act (FDCPA), Federal Fair Credit Reporting Act (FCRA), Telephone Consumer Protection Act (TCPA) and Servicemembers Civil Relief Act (SCRA). A collector’s ability to implement all laws along with individual agency policies into their performance is a must.
Fundamentally, accounts receivable collection is a conversation between a debt collector and debtor. For each call to run smoothly and ultimately end in payment, it is optimal for individuals to have experience in communicating directly with the public. Former positions in customer service and or telemarketing provide collectors with a background in working and finding solutions with a variety of personality types. The ability to effortlessly talk back and forth is essential for positive outcomes.
Debt Collector with a Rebound Personality
Tough conversations are inevitable. Companies need collectors that can continue through each call with a business-like attitude, despite pushback from the other end of the phone, to find a resolution for the outstanding debt. Ideally, successful collectors will bounce back between calls without allowing debtor reactions to impede their service.
While the heavy lifting is conducted on the supervisory level, it is imperative for collectors to master all agency-specific computer programs and other technical equipment used daily in collections. Debt collectors with technological literacy can maintain a steady workflow and provide adequate support to individuals on the phone, increasing collection success.
With a performance-based position, a debt collector must be goal-orientated with the drive to progress and achieve personal and agency goals. Driven collectors are motivated to collect payments for businesses, making them the top choice to handle delinquent accounts.
The Right Agency
Well-qualified debt collectors are essential to an agency’s success rate. For businesses interested in hiring a debt collection agency, it is important to entrust all accounts to a company with exceptional collectors.
At Optio Solutions, our team of top debt collectors possess the interpersonal communications skills, professional demeanor, compliance knowledge, technical skills, agency policy comprehension and drive to manage your businesses accounts receivable. Contact us today to learn how an Optio debt collector can contribute to your company’s progress.