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Tips for Successful Fee Collection

Fee collection can be hard work! Making that call can be nerve wracking at times and not knowing what response you will receive can make you hesitant to pick up the phone. 

We have identified the following tips to assist:

Be prepared – Make sure you have familiarised yourself with the matter.  Read notes of previous contact, the familial circumstances, any sensitive issues to be aware of, payment plans (if there has been compliance or not) and be clear on the debt outstanding.

Keep notes – Jot key points down during any conversations (even if it seems irrelevant at the time) as the debtor is likely mentioning it for a reason. They may use this down the track as a reason of non-payment. Once the conversation has ended, make more substantial notes in your software system.

Be pleasant and in control – Try to maintain the same tone throughout the call, a friendly approach can start the conversation on the right foot. If the debtor is aggrieved, acknowledge their feelings, but be firm with your expectations. However, remember that if the debtor becomes aggressive or abusive you should put a stop to this. Be calm, but firm in requesting they stop this behaviour – if not, make them aware you will terminate the call.

Give option – Be flexible with payment terms if the situation warrants this, and give short term options to be reviewed if necessary. Communicate all various payment method options available. 

Summarise – Before ending the call, summarise what was discussed, including any payment terms, when you will call back etc.  In most circumstances, an email summarising the call is important.

Follow up – Make sure you follow through with what was discussed. Call them back when you say you will, email them if you said you will. Be proactive.  

Take a deep breath and make that call, a positive approach can go a long way!

 

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Platinum Collection Agency is Australia’s sole “Schools and Education Specialist” collection agency.

We welcome all enquiries in relation to enrolments and fee collection.

Please phone us on 1300 600 181 or email office@platinumcollection.com.au 

platinumcollection.com.au