FAQ’s- Who doesn’t love FAQ’s! Answers to questions you know you want to ask and probably should find out, but someone already has and all the hard work is done! Now you can just read the answers and become informed! Knowledge is power after all. When I tell people I am a debt collector, the common FAQ’s are as expected: “Do you use a baseball bat?” “Why don’t you have tattoos?” “Please take my name off the list if you ever see it”- although that last one isn’t really a question, I still hear it all the time! Maybe I need to change my circle of friends! Here are our actual FAQ’s though and the answers may surprise you:
1. “Can I add your commission to the debt?” Answer: Yes, but only if the customer has agreed in writing to pay additional fees. Simply having a clause on an invoice is not enough.
2. “How long does debt collection take?” Answer: How long is a piece of string. Could be a day, could be a week, could be never. It all depends on the debtor. If you haven’t seen some money within a month though, there is something wrong.
3. “Do you get abused heaps?” Answer: Nope, never. We are just the messenger, and we treat everyone with respect and dignity. Tone of voice is vital here and it is important to have a very calm and passive tone, remembering that often angry debtors are only being angry because they are frustrated they can’t pay.
4. “Do you knock on people’s doors?” Answer: Never. Not to collect a debt anyway. It is all done on the phone and via email and text. I would only see someone in person when serving them with a summons, and there is no chit chat in that situation.
5. “What’s the biggest debt you have collected?” Answer: $148,242.99. Yes, the lazy hundred and forty thousand. That was a good day!
6. “What is your recovery rate?” Answer: 72%. 3 times better than the industry average.
7. “How long do I have to collect my debt?” Answer: 6 years. However, if the customer makes any sort of payment, it resets it for another 6 years.
Cheers guys!