Artem Varfolomey - Method of Debt Collection. English version

© Artem Varfolomey, 2017

© Sergey Golikov, 2017

ISBN 978-5-4483-6818-9

Created with intellectual publishing system Ridero

Introduction

Be kind to those, who depend on you.

Attar

Dear reader, in this book we will introduce you the basics of collecting arrears, we will also describe the basic things that every novice must know and it may be useful for experienced collector, who wish to refresh his knowledge and skills. It’s not the fact that any experienced collector is a good professional, and he’s doing the right thing, even if he achieves some success. Unfortunately, there is no education in Russia as “the collector” or something like this, but now it would be very popular. That’s why we take the responsibility to educate or just direct people on the right way in this difficult business. And the answer to the question “Who are you to teach us?” is: we’ve been doing this business since 2009, we used to work in several “strong recovery” banks. And in this case we’ve tried everything: from useless persuasion to direct threats and requests from the prosecutor’s office for these threats. None of this gave the desired result, and we soon realized that it was necessary to change the approach to the work fundamentally. Now under our leadership the Department of remote collection and all questions, appearing in its work became brighter, because now we are watching at the conversations with debtors as outside observers. This material started to be created in the conditions of necessity for mass education of new professionals and with each new addition it have been getting into a ready, universal manual for employees of the Department of collection.

In this edition you will find out the following information: what you can’t do, and what you should do to return back money into your company, as well as the terms and laws that the caller should know, when he‘s calling the debtor, not to look stupid before the debtor, and the variety of answers, which will eliminate most of the client’s objections. Our method allows to experience less stress when dealing with the debt, because negative and stress appears only in absence of necessary knowledge and the desire to “knock out” the money from the debtor by any means. Proper use of tools that we offer below, will greatly improve efficiency and achieve the desired success in this difficult work, avoiding claims and complaints about your work. We are sure – this book can help you, the only question is whether you want it.

So, let’s begin.

Do not start anything when you’re angry! A fool is the one, who sits down on ship in a storm.

I.Gaug

Structure of the conversation

Before the study of what to say to the client, you need to understand when and in what order to say it.

Greeting. If we don’t want to get the negative from the client for no reason, it is better to say “hello”.

Informing the purpose of the call. It’s necessary to determine the subject of conversation (calling the product, time of delay, the amount of delay). The debtor must understand clearly, why we are making a call.

Finding out the reasons for non-payment. If you don’t find out the reasons, you will not eliminate the objections. Don’t confuse with bringing consequences of non-payment – they are different things; at this point we don’t motivate to pay, we explain to the client that he hasn’t got any reasons for non-payment,

Informing about requirements. It’s necessary to set a clear deadline for payment: a long payment period is not recommended (it is better not to give more than 3 days). You should never agree the timing dictated by the client – at least for a day, but set a shorter period.

Motivation. No matter if we have informed about the claim or have received a promise from the client, it’s necessarily to pronounce the arguments to pay, in every conversation we recommend using at least one of the articles of the Criminal Code or the Civil Code. You should find out customer’s new contact numbers (parents’, colleagues’, family members’): it’s necessary for the client’s motivation to continue to answer calls, to fulfill his promises of payment.

Conclusions. Once again, we speak about the amount and the time of payment, better under the customer’s signature, and refine the methods of payment, if the debtor can’t tell where he is going to pay; most likely, he’s not going to do it.

Ending the call. Make sure whether all the information is clear, say “goodbye”.

So:

Greeting

Informing Reason for Calling

Finding out the reasons for non-payment

Informing requirements

Motivation

Conclusions

Ending the call

Even experienced staff needs this structure before eyes during conversations with customers – it will organize the conversation and avoid missing important points of discussion.

We’ve determined the order of construction of the conversation, but what do you need to say, why? We have one goal: to receive payment of the debt; but how force a person do it, if he doesn’t want? Threats? No, it’s fraught with criminal prosecution, you must not break the law in any case, and it is not worth it. You must enter the client’s comfort zone, his personal space, but how to do it by the phone call? It’s easy.

Personal space: client, family, colleagues, neighbors, friends, top-brass.

All people have the same values: family, friends, colleagues, etc. The weight of each is different, of course. Somebody doesn’t want your calls to disturb his old mother, somebody is afraid of your call to his boss. In the conversation with the client it’s important to understand what kind of “circle” is important for him? We must act carefully, from some distance, for example:

– Tell me, who lives at the address of your registration? Parents? Would you like me to ask them to help you? Not necessary? Well, you should solve a question of payment by yourself, time – 2 days.

– You don’t have money, do you? Perhaps, if I call your boss and ask him to pay in advance, is this going to solve your problem? Your task is to get into the space, where no one wants to let in the outsiders; it will make our client think about debt much more.

Etiquette of business conversation by a bank employee with clients and related people

Acceptable boundaries of speech of interaction with the interlocutor

Proper construction of conversation

If you want to be honest, take into account and trust only the public interest. Personal interest often results in mistake.

K. Helvetius

Business conversation can be built strictly in the Information key: interlocutor is informed of certain facts, dates, numbers, and procedures in accordance with regulation documents.

Business conversation can be built in a key of conviction of your client to make this or that action. Conviction as a method, which consists in exposing on mind of the interlocutor to create a new or change an old position / attitude about a certain question. Means of convictions are facts, numbers, and solutions of any problem, examples, precedents and forecast events. All of them must be provided in a particular form, in comparison with the discussion of advantages and disadvantages of each choice. Conviction will be effective when the interlocutor understands yours arguments.

That’s why speech of an employee should be simple, clear, colorful, imaginative, and memorable. You can use figurative comparisons, metaphors, synonyms, idioms, if they don’t insult or threat. Conviction as a process is constructed like dialogue with the interlocutor, where an opinion of each part is equally significant and has the right to review, evaluate and verify. Conviction suggests unconditional respect for the personality of the interlocutor.