No type of debt collection is one-style-fits-all. Successful collection often means working with consumers directly to resolve that debt in ways that make the most sense for everyone involved.
We thought we’d share some of our approaches to working with customers to show that debt collection needs to be approached in varied ways. At the end of the day, a lot of it comes down to relationships, how to continue building them and how to make a resolution that’s a best-case scenario for all parties.
Different methods for collecting debt
One way that our agents are trained to resolve debt is to make sure 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
- Telephone banking
- Via credit card, which is available 24/7 through our phone system
- Bank wire
- E-transfer
If a person can’t pay in full, we can also discuss options with them. We work with several trusted lenders who can help with paying off the debt or providing consolidation loans. Settlement options and well-negotiated short-term payments have also been used in the past.
The goal for us 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 arcanely understand every situation and adjust suggestions for payment accordingly.
The right solutions for debt collection
A big key to making this type of close customer service and options work is for MJR to assess needs directly with our clients, learning what is most important to them. By using innovative programs and proven methods that we know inside and out, we can find those solutions together.
We can analyze your KPIs to better understand them 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 find out more about what we can provide businesses, go to our website.
