Checklist on How to Do Debt Collection Well



  • When a debt is overdue send a courtesy letter first.

  • When making the first phone call, ask if there is a problem.

  • Never make heavy demands.

  • Don’t lose your cool. You will get further if you keep anger or aggressive behaviour under control.

  • Try and avoid passing the matter over to your solicitors because of the legal costs involved.

  • As a last resort, use a debt-collecting agency.

  • Keep constant communication with your customer and try to work out an arrangement.

  • Keep negotiating. There are not many situations where a negotiated agreement cannot be arrived at. Negotiate with the customer. Try and come to a mutual agreement, in order to  resolve the situation.

  • Never argue. Arguing will only create more stress and put you offside with your customer.

  • Don’t procrastinate. The faster try to solve the problem, the better.

  • Do not be aggressive or threatening. Threats generally do not work. They may result in a payment, but you will have someone who totally dislikes you and your business, who may do a lot of damage.

  • Try not to...

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Checklist

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