VERY RECENT CASE STUDY – Wednesday, 18 September 2019 – 1.45pm
1 The debt had been factored. About $35,000. (Factoring is where a third party pays the creditor on behalf of the debtor. The debtor can then ‘pay off’ the debt monthly to the Factoring Company. BUT, if a debtor stops paying, the Factoring Company can claim the remaining balance back from the creditor.)
2 The debtor, yesterday, owed two payments of $7,200.
3 He had NOT replied to many very firm follow up emails and phone calls from the Factoring Company.
4 My client is the creditor. I phoned the debtors mobile and left a message to call back. I then sent this text message …
Use text messages – they work. This debtor responded to the text message where all other contact attempts by the Factoring Company had failed.
The rules are simple. Be polite. State the facts. Use plain English. Use CAPS. Explain consequences. Be approachable.
You’ve got a mobile. You can easily ignore a phone message and may not even open VoiceMail (a bother) but you WOULD open a text message if one arrived at your phone right now … wouldn’t you?