1. Successful Collection Conversations
Greg Ruffino – Williams & Fudge, Inc.
FABSAA Annual Conference 2018
Daytona Beach, Florida

2. Objective
Let’s break down some key components to everyday conversation to help us increase our recovery success rates.
We will hear 6 real conversations and discuss how each contains effective techniques.

3. Elements of Great Conversations
Fact Finding (1)
Building a Rapport (1)
Professional Confrontation / Accountability (2)
Overcoming Stalls (3)
Financial Profile (4)
Setting Up the Follow Up (5)
Negotiations = Closing the Deal (6)

4. (1)Fact Finding / Building Rapport

5. (1)Fact Finding / Building Rapport
Questions will reveal the path to resolution
Find common ground to help gain trust
Take a break from talking money if you sense stress
Building Rapport demonstrates compassion and personality

6. (2)Professional Confrontation

7. (2)Professional Confrontation
Allow the student to speak and vent
Hold true in your convictions
Maintain control, but listen more than you speak
Ask the student what their
intentions are

8. (3)Overcoming the Stall

9. (3)Overcoming the Stall
Reference any relevant notes on file
State specific facts/laws and repeat them if necessary
Displaying confidence and knowledge = being business savvy

10. (4)Financial Profile

11. (4)Financial Profile
Get the student to talk and think about their financial situation
The goal is to paint a picture that they can pay
Or, define what payments make the most sense
If they cannot pay,
who can or will?

12. (5)Setting Up the Follow Up
ACA International annual statistics show about 25% of all debt placed in collections gets recovered.
The majority of this debt takes 2+ conversations to secure payment.

13. (5)Setting Up the Follow Up
If you are not getting paid in $$$, get paid with information
Discuss a detailed expectation for what is next
Use reminder tools and follow through on it

14. (6)Negotiations - Closing the Deal

15. (6)Negotiations - Closing the Deal
Expectation is Payment in Full (start high)
Do not say “No” to a student’s initial offer
Fact Finding questions determine the student’s capabilities
Counter offer within reason based on the facts

16. Greg Ruffino – Williams & Fudge, Inc.
Summary
Just Talk to People!
You are a problem solver
Ask yourself – “Am I someone I would want to do business with?”
Thank You !
Greg Ruffino – Williams & Fudge, Inc.