If YOU had an overdue account you probably WOULDN’T want to talk to your creditor about it would you? So, a face-to-face discussion or phone call would be your least preferred options.
From the Creditors point of view though, there are several ways to follow up an overdue account. The graph here looks at the main ones.
They are …
Emails
Fastest, Cheapest. But easily ignored.
Letters
Too slow – too expensive but still VERY “attention getting”.
Text Messages
Cheap, easy to send and DO get attention.
Personal visits (House Calls)
* VERY time consuming to do one, and
* VERY confrontational, making them an impractical option in most instances.
Telephone calls
Reasonably cheap, certainly DO get attention BUT take time and effort, require a certain skill set so not normally the best way until absolutely necessary.
But there’s another option
Not often used, that
1 is EXTREMELY effective
2 cost effective (uses an email or a text message)
3 plays on that fact that debtors do NOT want to receive a phone call about an unpaid account, and that is …
* VERY confrontational, making them an impractical option in most instances.
1 is EXTREMELY effective
2 cost effective (uses an email or a text message)
3 plays on that fact that debtors do NOT want to receive a phone call about an unpaid account, and that is …
Tell them you’re going to call – IN ADVANCE.
To explain further, see these similar blog posts …
http://creditflowsolutions.com.au/people-do-not-like-to-be-phoned-so/
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