5 Common Excuses Every Collector Encounters and How to Handle Them


An insightful summary of how top-performing collectors deal with the most common defaulter excuses and scenarios every day

Contents

Chapter 01

Executive Summary

Chapter 02

5 Most Common Defaulter Excuses: How to Handle Them

Chapter 03

Sample Scripts

Chapter 04

Role of Technology: To Improve Collection Calls

Chapter 05

About HighRadius
Chapter 01

Executive Summary


In spite of rapid evolution in the collections process, one thing that has not changed over the decades is – dunning via collection calls. Sure, you might have one-click automated correspondence today, but as collectors, you would still have your share of collection calls as a part of your workload every day.
It is one of the most effective dunning strategies, that adds a personal touch to customer collaboration, thereby enhancing customer relationships. But as they say, there is no free lunch! Collection call – although a very effective dunning tool – requires more than just asking the customer to pay.
Making collection calls can be awkward, uncomfortable, time-consuming and unproductive. As a collector, you must have had the experience of listening to never-ending excuses given by the defaulters as to why they were unable to pay. In this scenario, what can you do to ensure successful collection calls? Simple, be prepared. Since most of these excuses are common, be ready with prompt responses and multiple options to tactfully deal with typical excuses and scenarios while maintaining healthy customer relationships.
This e-book explains how top-performing collectors deal with the most common excuses and scenarios encountered by them every day at work.