Do Debt Collection Calls Really Work?

Do Debt Collection Calls Really Work?

Sometimes material suppliers for the construction industry are unsure of which method works best when it comes to collecting their problem receivables. However, some are not sure of the right way to go. Should they send letters or conduct phone calls? Collection letters are not always enough. It’s essential to use phone calls in conjunction with other means of communication.

Boosting Collection Chances

When a customer receives your collection letter, they might throw it away. Or perhaps they stick it in a pile of papers on their desk, thinking “I’ll deal with this later.” A letter coordinated with a successful phone call can dramatically improve the chances of collection. A customer who has already received a mailed message is more likely to recognize the firm's name over the phone.

Collection Call as Sales Call

Think of a debt collection call as a type of sales call. You want to convert the debtor into a paying customer. The debtor may make a payment, offer a settlement, or request substantiation of the charges. The goal is to work with the customer to reach an amicable resolution.

Questions to Ask Debt Collection Firms

Sometimes collection issues are more than your internal collection team can handle. Material suppliers for the construction industry may choose to work with a debt collection firm with construction industry collections experience. Make sure phone calls are part of the package when contracting collection services. Ask the debt collection firm about their approach and whether or not they make calls. You want a skillful firm who knows the best practices to help you get paid.

At The Kaighn Company, we use industry best practices to contact debtors. Schedule a time to talk—call 908-319-5155 or email cmdevito@kaighnco.com.