September 2000 Newsletter

How To Handle Collection Agency Complaints

This subject always conjures up an old Leon Russell song, "Tightrope." In the song, Leon laments, "I'm up on a tightrope, one side's hate and one is hope."

No complaints can mean your agency is too soft. Too many can mean the agency is too aggressive. So what does one do? Here is the key: identify and measure the legitimate complaints and communicate with the agency what you feel is an acceptable level.

Follow these simple steps when you get an agency complaint:

1. Take the call, listen and make notes. Paraphrase the debtor's main issues to be certain you clearly understand them.
2. Review your own file. Determine if the debtor demonstrated trustworthy behavior in dealing with your office or have they been a little less than up front.
3. Contact the agency manager to relay the complaint and ask them what their file notes reflect. Was the manager able to overhear what the agency personnel said? Get both sides prior to making a decision.

Make a determination as quickly as you are able, if the complaint has validity. Advise the agency manager of your finding as soon as possible. Should you feel that too many legitimate complaints are being lodged, notify the agency in writing. As with many things, clear communication is essential to having a good understanding.

Our offices try to accommodate each client's individual desire for level of assertiveness. When dealing with hundreds of clients, it becomes more difficult to balance good results and a reasonable complaint level. Let us know if we are "in balance."

You will receive complaints that have the sole purpose of getting the collector/agency in hot water. If you closely follow the preceding steps, you will recognize these attempts and take them at face value.

For us, the high wire act continues. So, next time you get a complaint, think of us and a little Leon, "I'm up on the high wire, one side's ice and one is fire."

Bob Barden
President

Put Off Procrastination

Get your overdue accounts receivable out of your office and into ours.

For success ASAP, you need to stop procrastinating - today!

• Break it down - Big projects are less intimidating when you tackle them in manageable pieces.
• Set a deadline - Hold yourself to a deadline to increase your sense of urgency, and stick to it.
• Be sure to allow for interruptions or unexpected tasks and set a deadline you have a good chance of actually meeting.
• Look at the silver lining - If you dread a task, think about how great you'll feel when you finish it.
• Give yourself a pat on the back - You deserve a reward for finishing a bothersome job, so think of an incentive that will inspire you to get it done quickly.

New Technology

The Credit Bureau is continuing to add new technology. We are now able to accept checks by phone. What does this mean for you? More money and faster! This creates a sense of urgency for the debtor that the account must be paid today. If the individual has multiple accounts, we have now gained asset information: bank account information, a current address, and phone number with no hassle.

The check information is taken by phone, processed, printed, and then deposited in the bank. There's no need for the original check to be sent, it is voided and the amount is deducted from the debtor's checking account. This makes for an excellent tool in the recovery process.

We began testing Check By Phone in the middle of March. It proved to be a glorious success within the first month. While utilizing Check By Phone, we have received hundreds of payments, totaling thousands of dollars. In addition to immediate payments from debtors, our clients can take advantage of this new tool by pre-registering for seminars or making payments for any reason.

Kim McGhee
Legal Collector

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Ann Arbor Credit Bureau, Inc.
311 N. Main   Ann Arbor, Michigan   48104
800.710.4821     734.665.6173
info@a2cb.com