How to Improve Results of Collection Calls?

Collection calls are not easy. Often people give various excuses or try to trick the agents calling for collection. Of course, collection agencies, invest in training agents to handle collection calls more effectively and get the most advanced call center solution.

But, is this it?

Getting a call center solution and giving the training is sufficient to increase collection and debt payments?

Well, the answer is no.

There is something more a collection agency and all collection agents need to do to increase debt payments. In this blog, we will share the top 3 tips for collection agents to improve results.

1. Furnish your agent with the required information

Collection calls are not just to give a reminder to pay the upcoming EMI. They are to compel debtors to pay EMIs at the earliest possible. Just putting what a debtor said in the disposition message cannot help the collection agency to go far. They are put into action to collect the debts. For this, collection agencies need to furnish agents with concrete facts and information as well as more advanced tools.

• Call center collection integration is necessary. This integration adds more features, which help agents performing better and take over the control. For example, it filters all leads, which already paid the EMI. Therefore, if a debtor argues that he has already paid the EMI, then your agent can have a counter-argument to handle that customer and all that kind of client.
• Call center CRM integration is also necessary. During live calls, agents need to have all information about the customer to lead the calls in the right direction. Minimum information, which has to be shown:
  • Exact amount to be paid
  • Payment due date
  • Number of reminders given
  • Number of pending EMIs
  • Product purchased
  • Other terms related to the debt.

2. Your agent should know how to handle excuses

Excuses are common. To increase the results of collection calls, agents need not have knowledge of giving a counter-response based on facts. Call center CRM integration will definitely show the required information to the agent. On the other hand, the collection agency should also make a list of common excuses and arguments along with effective rebuttals. The call center solution has a feature, called call script. This feature can be used to add excuses and rebuttals to help agents take control of the calls.

3. Keep the conversation under control

One of the most tips for agents to improve collection call results is to keep the conversation under control. To do so, here are some tips:

• Be attentive to what the customer says
• Take a pause about five seconds after listening to the customer. This will encourage the customer to fill the void.
• If a customer asks for a callback or promises to pay, ask the exact date and time.
• Keep tone low
• Do not be rude

We have been helping collection agencies by offering technology advancements and solutions. Our call center solution with integrated collection modules and CRM solution can help collection companies. We offer it in different models. Contact us for more information.