1. Collection Skills “The Good, The Bad & The Ugly”
Cary Geil- Director of Collections
John Rhine-VP Client Relations
National Credit Management

2. Active Listening Skills
Most Important Skill for Collections
Helps to Identify Reason for delinquency
Ability to determine borrowers motivations
Shows the borrower respect and dignity
Do not interrupt or try to talk over the borrower
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3. Identify Borrower Type
By identifying the borrower you will be able handle the call more consistently
Type 1- Pays Account
Type 2- Refuses Payment
Type 3- Requests Monthly Payments
Type 4- Disputes the Debt
Do Not Assume all debtors are the same before listening to them
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4. Tone of Voice
Your tone of voice is just as important as what you are saying to the borrower. You must sound: Confident, Friendly, Helpful, Professional and Positive
Do not develop a negative attitude with borrowers
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5. Control of Conversation
Follow a consistent progression of conversation
Allow borrower to participate, but keep call moving forward in a productive manner
Do Not try to talk over or dominate the conversation
Avoid going on the defensive, learn to pivot and redirect conversation
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6. Overcome Objections Be creative and positive to find a solution
Try to find common ground with the borrower
Anticipate common objections and stalling
Avoid making the conversation about the person, keep it about the bill
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7. Effective Rebuttals Be prepared to avoid potential disputes
Read notes of Previous calls
Be able to explain common questions, such a Title IV funds being returned, additional collection fees, and Perkins Loan specifics
Avoid allowing borrower to stall
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8. Use of Open Ended Questions
Use questions the prompt the borrower to respond with detailed explanations
Avoid straight Yes/No Questions
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9. Update Information
Always try to update all contact information for the borrower on every contact
address, Place of employment, Home address, all phone numbers
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10. Negotiating
Don’t just take whatever they offer because “Something is better than Nothing”
Don’t tell them “No, That payment is unacceptable!”
Instead redirect with more reasonable arrangements
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11. Sense of Urgency Always try to get a payment while on the phone.
Be willing to take less payment in exchange for the immediate payment
Avoid “The checks in the mail” type arrangements
Avoid “I’ll pay you next month” type long range promises
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12. Time Management Try to spend as little time as possible on phone calls
Avoid long “wrap time” between calls. Try to type and talk as you go as much as possible to get on to the next account
Avoid prolonged skip tracing sessions during peak contact hours
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13. Organization Make sure to always document specific follow-up times
Be aware of how many accounts are scheduled for a specific day
Always take detailed notes
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14. Timely Effective Follow Up
Set specific call back times with the borrower
Have them call you back, hold them accountable with a follow up call if they fail to keep the promise
Have the borrower repeat payment instructions back to you, to ensure that they have actually taken down the information
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15. Communication With 3rd Parties
Always try to maximize opportunity to get information from 3rd parties
Try to leave messages with 3rd parties
Avoid disclosing information that violates FDCPA or FERPA
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16. Be Analytical
Pay attention to details, be aware of previous discussions, payment history, credit attributes, delinquency date and other contributing factors
Be creative to find solutions that motivate the borrower and address their concerns
Avoid trying to follow a 1 size fits all script
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17. Bridging With The Borrower
Be Prepared to recognize borrowers past payments. Make positive statements encouraging them to resume
Avoid negative comments that will put a wall between you and the borrower
Try to find common ground, let the borrower know that you understand and can relate to their situation
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18. Use Judgment
Pay attention to the balance of the account when allocating time and resources
Be aware of the age of the debt, know when to write off your losses
Be aware of any special circumstances and be flexible with your policies
Always try to avoid complaints
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19. Questions?? Cary Geil cgeil@ncmstl.com (314) 809-1599 John Rhine
(314)
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