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Debt Collection Case Study: Great Communication Gets Great Results

There is no doubt that in order to get the very best results in bad debt recovery, it is important to partner with your debt collection agency and keep in contact with them. These days, people move around and change jobs often. If you get a new piece of information on a customer in collections, contact your collection agency and let them know immediately. Here are two examples of how proactive customers helped the collection process succeed.

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Customer #1 was a plumber who did work for a homeowner. The debt was approaching 90 days old, and they want to put a mechanics lien on the property, but had not yet done so. They heard through the grapevine that the house was on the market. We researched and found out that it was actually under contract and was set to close the following week. We contacted the agent, who advised the name of the closing attorney. We contacted the name of the closing attorney, sent her the bill. The house closed the following week, and our client was paid in full. They did not even have to go through the trouble and expense of filing a lien.

Customer #2 was a dentist whose patient owed a very large sum of money. The patient had been out of work for almost a year and had no means to pay the bill. Our client learned that he had recently landed a very good new job. We made immediate contact with the patient, and worked out a payment plan. The patient made his payments diligently and paid off the debt in six months. He asked to be taken back as a patient, and the doctor agreed.

No matter how insignificant you may feel the information is, pass it on! You never know where it may lead, and it will often lead to success!

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