Trying to find a satisfying outcome for both the business and the consumer is how much debt recovery takes place. And with that, it’s important to ensure you have more than one solution ready when the consumer may ask for it.
We wanted to talk more about some of the approaches we use in working with customers to show that debt collection needs to be approached in a varied ways to find success. A lot comes down to building relationships and making a resolution that is best for everyone involved.
Varied methods for collecting debt
One way our agents are trained to resolve debt is to ensure our customers know that there are different ways to pay.
The fastest method is a direct deposit to us, and it’s also a way for us to ensure that we send the customer a release letter concerning the debt at soon as possible. The letter shows that the customer has paid or settled in full, and can be an important part of re-establishing credit.
We also accept payment via mail with cheques or money orders. There are also many other online methods for payment, including:
- Online banking
- Bank wire
- E-transfer
- Telephone banking
- Via credit card, which is available 24/7 through our phone system
We can also discuss options if a person can’t pay in full. We work with several trusted lenders who can help pay the debt or provide consolidation loans. Settlement options and well-negotiated short-term payments have also been used in the past.
Our goal is to clear the debt, while also showing empathy for the customer and their situation. With the training we provide in active listening, our agents can genuinely understand every situation and adjust suggestions for payment accordingly.
The right solutions for debt collection
It’s at the stage when MJR works with you to assess your needs directly that we learn the best approach for collecting debt. We can find those solutions together by using innovative programs and proven methods that we know inside and out.
We can analyze your KPIs to understand them better and put strategies for collection in place that meet and exceed your business goals. We then work together to reach those goals through targeted programs with clear measurements.
To learn more about what we can provide businesses, visit our website.
