Opinions and Ideas

how to build a strong incentive plan for collectors

How To Build A Strong Incentive Plan For Collectors

If you own a debt collection agency, one tool you must DEFINITELY have in your arsenal is incentives. It’s what successful businesses use to keep their workforce fired-up and committed. So, if you come across any collection agency where the phones are buzzing, the energy is electric, and collectors are closing deals left and right, a strong incentive plan is most likely the secret sauce! Col... »

legal collection vs non legal collections

Legal Collections vs. Non-Legal Collections

We’ve all been there. The unsavory feeling when we’re owed some money but the debtor is not very keen to do what’s necessary. It’s annoying, it’s tiring, and it can drain multiple wallets. Unpaid debts are somewhat like those small pebbles in your shoe; they may be small, but they sure can cause a whole lot of trouble! Therefore, what do you do when friendly nudges and professional ema... »

negotiation strategies debt collection

10 Must-Know Debt Collection Negotiation Strategies

Debt collection is similar to tug of war. Here you are at one end, straining your every fiber to pull those dollars closer to you. Meanwhile, the debtor is at the other end, striving to ensure the money doesn’t end up in your hands. It’s a task that’s full of challenges, frustration, and at times, looks like it’s a waste of time. But do not fret, because there are strategies that can be used to ev... »

Collectors Have All The Fun

Collectors Have All The Fun

Collectors Have All The Fun As a Collection Manager you are constantly juggling your responsibilities, making sure that you are meeting your goals, but also making sure that your staff is happy. CMs can do this by using contests for collectors, or implementing a generous bonus structure to keep the hard workers motivated. Something that happens a lot is the way the rest of the company feels about ... »

Negotiation Strategy - Don't Leave Money On the Table

Negotiation Strategy – Don’t Leave Money On the Table

Happy Monday everyone! We decided to start this week off with a post that is true to any good negotiator’s heart, the problem with leaving money ON THE TABLE! Before we dive into the post, take a half of a minute to watch the below video. This is something that is a perfect visual display of collectors’ reactions when they find themselves leaving money on the table. Don’t let thi... »

DBA International 18th Annual Conference

DBA International 18th Annual Conference: Passport to the Future

DBA International 18th Annual Conference: Passport to the Future Well, as you all know, we’re really big on education for industry professionals. I mean, it’s in our company values for crying out loud. So it’s only natural that we let you know about a conference that’s coming up this February. It includes a whole lot of educating and networking opportunities. If you aren... »

Why Consumers Should Thank Debt Collectors

Company Spotlight: Select Resource Group & Why Consumers Should Thank Debt Collectors!

Why Consumers Should Thank Debt Collectors Yep, we said it. It’s not written incorrectly, but popular to contrary belief, debt collectors actually help consumers. And not just the consumers they speak to on the phones, but ALL consumers. What debt collectors and debt collection companies do, adds tremendous value to our United States’ economy. And that’s exactly why consumers sho... »

Setting Effective Goals For Collectors

Setting Effective Goals For Collectors

“What’s my goal this month?” is a common question you’ll hear from collectors. But then again, it depends on where they work and how their managers put their goal together. Setting effective goals for your collectors is one of, if not the most important piece of developing an effective collection strategy. Goals are the standard, the benchmark, the target. If you don’t have a good method for creat... »

What Every Collector Should Know About Brand Awareness

What Every Collector Should Know About Brand Awareness

One of our favorite sites for good business definitions, Investopedia.com, defines “Brand Awareness” as; “The likelihood that consumers recognize the existence and availability of a company’s product or service. Creating brand awareness is one of the key steps in promoting a product.” We want to talk to you about a different kind of brand awareness, because in the deb... »

Be A Team Lead That Can Lead A Team

Be A Team Lead That Can Lead A Team

Getting a promotion at work is a great accomplishment, anyone who has been entrusted with more responsibility and pushed further up the ranks of a company where they can truly make a difference to the organization, should be very proud. However, it’s important to know the immediate side effects of your new role. It’s not always easy to celebrate a promotion when maybe you weren’t the only one in t... »

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