When you are planning to work on the unpaid invoices, it is necessary that you think of differentiating between the debtors. How that can be possible? Well, when you are looking for ways to deal with your debts, you will find the debtors who are deliberately avoiding to pay you back. And then there will be those who are willing to pay you but can’t do that at that moment due to some genuine reason. In such a situation, it is needless to say that you have to think of dealing with both of these two types of debtors differently.
When one debtor is constantly dodging to pay you back deliberately, it is easier to handle. You can be assertive in your approach and you won’t feel any remorse while taking any legal step against them. But when it happens to be that the debtor is a long term associate, a willing payer who is finding it difficult to pay for some serious crisis, the dealing becomes tricky. Here, we have put together a few tips for you to deal with this from the experts of the reputed collection service agency. Take a look.
Generally, the initiation of payment starts with a phone call. So, when you are making that important phone call to initiate the payment, it is necessary that you think of the other person on the other end of the phone as a willing debtor. You also need to consider that he or she is willing you to pay but for some serious financial crisis, accident, arson, or a sudden demise, the payment has been stalled. That is why you must listen to that person before you react. Most importantly, be sensible. This is not just applicable if you are a business owner. If you are an executive of a commercial collection agency, representing the best interest of your client, you still have to think of it sensibly.
When you are working on the debt and talking to a debtor who is willing to pay, it is necessary that you weigh all the options. You need to know their situation while considering your own need for money. Now, keeping these all in mind, you need to propose a settlement. Listen to what terms the debtor is offering. Try to find out if that is acceptable or not. If not, even after being sensible towards their issues or crisis, you offer your term. Keep an open mind and be very patient while you are doing this. If you can’t come to a settlement, then you can involve a debt collection agency in the whole matter as a third party to help you both to come to a settlement.
End in a Good Note:
When you are cutting the phone call or closing your argument and coming to the terms where there is a hope of future settlement as you are thinking of getting our money back. Make sure you are talking sensibly and ending the phone call on a good note. This will keep the road open for future dealings with this associate.
So, now as you know about these ways to deal with a willing debtor, use them in your strategy. Don’t worry. If you need any assistance, professionals are always there.