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Author: Darryl D'Souza Publisher: AuthorHouse ISBN: 1728323916 Category : Business & Economics Languages : en Pages : 114
Book Description
In many respects, collecting debt is a negative job—a fact that all credit risk professionals must be sensitive to. The typical collector may attempt 120 calls a day and speak to 36 customers, and then gain a kept promise from just half of those 36 customers he speaks to. This means the collector has just 18 kept promises and 102 negative results. An 85 per cent negative response rate translates to seven hours of negative feedback in an eight-hour day. This book offers the epiphany that great customer service in debt collections yields far greater kept promises than the above number. Consistent reiteration and coaching of the collections team about the importance of quality has always delivered a 25 to 35 per cent higher performance than the average. There are tips in this book that help you improve collection performance by embracing quality service. This is tried and tested in my career, and this is what this book reiterates.
Author: Darryl D'Souza Publisher: AuthorHouse ISBN: 1728323916 Category : Business & Economics Languages : en Pages : 114
Book Description
In many respects, collecting debt is a negative job—a fact that all credit risk professionals must be sensitive to. The typical collector may attempt 120 calls a day and speak to 36 customers, and then gain a kept promise from just half of those 36 customers he speaks to. This means the collector has just 18 kept promises and 102 negative results. An 85 per cent negative response rate translates to seven hours of negative feedback in an eight-hour day. This book offers the epiphany that great customer service in debt collections yields far greater kept promises than the above number. Consistent reiteration and coaching of the collections team about the importance of quality has always delivered a 25 to 35 per cent higher performance than the average. There are tips in this book that help you improve collection performance by embracing quality service. This is tried and tested in my career, and this is what this book reiterates.
Author: Michael Miranda Publisher: Lulu.com ISBN: 0578011972 Category : Business & Economics Languages : en Pages : 126
Book Description
The Art of Debt Collections is for any one doing debt recovery using the telephone, be it 1st party, a collection agency, a collection attorney it provides a training system directed towards a successful debt recovery solution. Though attorney collection practices, 1st party, agency collection practices and techniques might differ, this book still applies. A useful training tool for every debt collection agency, debt collection attorney, 1st party creditor and any one involved in debt recovery services or debt collection services. The book doesn't offer an all encompassing debt elimination strategy, debt collection solution or debt collection strategy. Instead it is geared towards the individual collector, the one who is actually on the phone in direct contact with the debtor. The book covers the physiological aspect of debt collection, and a step by step method for the collection debt phone call. The Art of Debt Collections is a must read for every debt collector.
Author: Darryl D'Souza Publisher: AuthorHouse ISBN: Category : Education Languages : en Pages : 205
Book Description
"Diving deep into the realm of debt collections, this comprehensive guide, titled (The Art of Maximizing Debt Collections - Digitization, Analytics, AI, Machine Learning, Performance Management), serves as an authoritative handbook on the evolving landscape of collections analytics, automation, and strategic performance measurement. From its compelling introduction, uncovering five processes revolutionizing debt collections, to its culmination in exploring cutting edge applications of AI, machine learning, and robotic assistance in collections, this book is a definitive road map for professionals navigating the intricate world of debt recovery. Spanning fifteen meticulously crafted chapters, each segment is a treasure trove of insights. It begins by elucidating the critical role of collections analytics, unraveling how data management, reporting, and workflow analysis amplify collections strategies. In subsequent chapters, it explores the arsenal of software, tools, and operational reporting mechanisms employed in this domain, enhancing operational efficiencies and agent performance. The book delves into the dynamic realm of collections automation, highlighting the transformative impact of automated systems on debt recovery, while meticulously detailing the top-tier software and tips for selecting optimal automation tools. Moreover, it offers an in-depth exploration of collections performance measurement, unveiling key performance indicators (KPIs) crucial for gauging efficiency. Chapters dedicated to recovery performance, strategy analysis, digitization, and the integration of AI and Machine Learning offer strategic insights into bolstering collections strategies and leveraging technological advancements for enhanced outcomes. Intriguingly it addresses the ethical and legal aspects surrounding the use of robots in basic calling and automated payment promises, providing guidance to navigate these complex territories. The Art of Maximizing Debt Collections - Digitization, Analytics, AI, Machine Learning and Performance Management is an indispensable guide for professionals, analyst and decision makers seeking a comprehensive understanding of collections analytics, automation, and leveraging cutting edge technologies for optimizing Debt Recovery strategies in todays dynamic financial landscape."
Author: A. Michael Coleman Publisher: John Wiley & Sons ISBN: 047148394X Category : Business & Economics Languages : en Pages : 306
Book Description
You don’t have to be gifted to be a great credit collector. All you need is a desire to learn from the best.. . . and that’s the level of expertise this exhaustively researched volume puts right at your fingertips. The Collection Management Handbook puts you on the fast track to becoming a debt recovery dynamo. Drawing on actual cases from the collection industry’s top achievers, this expanded edition redefines collection methodology. Focusing on multiple avenues of strategic creditor recourse, it goes beyond yesterday’s dunning notices, showing you how to extract money from the most hard-to-reach nonpaying customers. Order your copy today!
Author: Timothy J. Daye Publisher: iUniverse ISBN: 146203330X Category : Business & Economics Languages : en Pages : 70
Book Description
The 5 Elements of the Highly Effective Debt Collector is the first How to collect a debt book of its kind, in that it breaks the debt collecting process down into five core fundamental areas. After years of training in the collection industry, I have found that these five fundamental areas are at the center of revealing the mystery behind why only a small percentage of debt collectors produce at a high level and more importantly explains why the larger percentage of low to mediocre performers never reach a top producing level. Not only does this book establish fundamental concepts every debt collector must understand to maximize personal or agencys earning potential, it also teaches: sound principles of engagement, valuable communication concepts, effective sales rebuttal techniques, as well as a system of file management that if followed and executed properly will more than double a collectors efficiency and effectiveness in less than 30 days The 5 Elements principles and concepts were designs to ensure that no matter an individuals talent level, years in the industry, or position held within an agency, the end user will understand clearly and be enriched by the experience.
Author: Jake Halpern Publisher: Macmillan + ORM ISBN: 0374711240 Category : True Crime Languages : en Pages : 193
Book Description
The Federal Trade Commission receives more complaints about rogue debt collecting than about any activity besides identity theft. Dramatically and entertainingly, Bad Paper reveals why. It tells the story of Aaron Siegel, a former banking executive, and Brandon Wilson, a former armed robber, who become partners and go in quest of "paper"—the uncollected debts that are sold off by banks for pennies on the dollar. As Aaron and Brandon learn, the world of consumer debt collection is an unregulated shadowland where operators often make unwarranted threats and even collect debts that are not theirs. Introducing an unforgettable cast of strivers and rogues, Jake Halpern chronicles their lives as they manage high-pressure call centers, hunt for paper in Las Vegas casinos, and meet in parked cars to sell the social security numbers and account information of unsuspecting consumers. He also tracks a "package" of debt that is stolen by unscrupulous collectors, leading to a dramatic showdown with guns in a Buffalo corner store. Along the way, he reveals the human cost of a system that compounds the troubles of hardworking Americans and permits banks to ignore their former customers. The result is a vital exposé that is also a bravura feat of storytelling.
Author: Steven F. Coyle Publisher: ServiceWinners International Publishing ISBN: 9834262124 Category : Business & Economics Languages : en Pages : 273
Book Description
A book for business people who want to reduce bad debts while maintaining customers’ goodwill. The book shows how you can put in place processes and systems to better manage your accounts receivables and reduce bad debts. The author believes that debtors won’t pay because you want them to pay; they pay because they want to pay and it’s the debt collector’s job to advise them ‘why’ they need to pay. The book tackles poor paymasters, how to lead a collection team, and new technologies for managing receivables. The book’s sections are geared for both managerial and non-managerial staff such as collectors. The techniques and models used are easy and practical to collect you more money. The author is an American living in Malaysia since 1995. He was a collection manager at Maxis Mobile and other companies in the U.S. He shares his experience and tips in order for you to collect more money, reduce bad debts, and keep more customers. His website: www.servicewinners.com
Author: Michelle Dunn Publisher: Entrepreneur Press ISBN: 9781599180250 Category : Business & Economics Languages : en Pages : 0
Book Description
Entrepreneur’s experts show you how to boost your bottom line with credit and collections Proper credit and collections policies are essential for a small business. They allow a business to make more money--even without making more sales--by more efficiently collecting from customers. Ultimate Credit and Collection Handbook teaches you how to create or improve a credit department, maintain a credit policy, and avoid bad debt. It includes up-to-date information on relevant state and federal laws.
Author: Darryl D'Souza
Author: Darryl D'Souza
Author: Michael Miranda
Author: Darryl D'Souza
Author: A. Michael Coleman
Author: Bill Arnold
Author: Timothy J. Daye
Author: Jake Halpern
Author: Steven F. Coyle
Author: Michelle Dunn
Author: Carol S. Frischer