Having a script for your collection calls is one of the best ways to improve your odds of success. Once you have a script in place, the next step is to work on tweaking it in order to improve your results even more.
Using your existing script, you will be able to see which parts of it are working and which parts could use a little improvement. It is important to remember that not all collection scripts are created equal, and even the slightest detail can make or break any given call.
With that in mind, here are 9 ways to improve your collection call script:
1. Identify & Confirm
The very first portion of your script should require you to properly identify yourself and the reason for you call. It should also have you confirm that you are indeed talking to the specific debtor you are attempting to contact.
There are debt collection regulations that require you to properly identify yourself and prevent you from sharing any confidential information with anyone besides the debtor. This will insure that you are abiding by those laws.
2. Keep It Positive & Professional
The next step in revising your collection call script is to make sure that all of your phrasing comes across in a positive and professional manner. You will want to practice saying the scripted lines so that you can determine if they come across the way you intended them to. You will be surprised by how many lines that look harmless on paper actually sound antagonistic over the phone.
3. Have Answers for Common Excuses
Many of the debtors you attempt to collect from are going to give you a handful of common excuses. You should find out what many of these excuses are with a quick Google search and then have answers already prepared for them. This will give you the upper hand when those common excuses, like the dog ate the statement, come up.
4. Script Pauses to Allow for Answers
If you are simply reading a script word-for-word, there is a good chance that you will forget to allow pauses for the debtor to answer you. Make it easier on yourself and note the places in the script that are good times to pause and wait for an answer.
5. Cover the Details
Towards the middle of your script, you will want to include a section that contains all of the information about the account you are attempting to collect. It is a good idea to remind the debtor how much is owed and when the last payment was made.
6. Ask for Payment
As soon as you cover the details of the account, make sure you ask the debtor to make a payment. If you don’t have this clearly written out in your script, it can be easy to dance around the topic of formally asking for the amount that is owed. Don’t take that risk!
7. Allow Yourself Room to be Flexible
Make sure that your script isn’t an all or nothing deal. You will want to leave yourself some room to entertain a possible offer from the debtor that might be mutually beneficial.
8. Make Them Commit to Something
Regardless of how the call goes, you want your script to insist that the debtor commits to something. Even if you can’t get them to make any payment at all, make them commit to calling you back on a certain date to check-in.
9. Confirm the Deal
If you are able to strike a deal with the debtor, make sure that your script includes a section where you confirm that deal. This will make sure that there are no misunderstandings or foggy memories down the road.
Each of these small details might seem insignificant on the surface, but when you combine all of them together, they can make a difference between collecting what is owed to you and continuing to chase after accounts receivable not paid. Which sounds better to you?
