In any debt collection effort, a debt collector should be sure to take careful notes of anything discussed with a debtor. Even collectors with great memory and recall cannot be expected to remember everything they say when talking to a collector, and not keeping a record to refer back to leads to more wasted time calling clients or debtors to get information again. Furthermore, good collection software should have a field for collectors to make notes on a claim, and should also add a time stamp to any new entries. If the software doesn’t do this automatically, the debt collector should take the time to note the time and date in any notes. By creating a record of communications with a debtor, collectors can avoid repeating information or questions, and also avoid contradicting themselves or negating promises made in earlier communications. Another important reason to take notes on collection procedures is to allow another collector to make follow-up calls or to work on an account while the original collector is on vacation or out of the office. If a debtor calls when the collector isn’t available, without an easily-accessible set of notes explaining what’s been discussed with the debtor in the past, whoever answers the phone has little chance of making progress on the account.
These are only a few reasons taking good notes is a vital part of effective debt collection. Even making note of simple details, such as the names of people you speak to on the phone, can avoid wasted time or help build a stronger relationship with the debtor, which can lead to faster payment. Agencies like The Kaplan Group ensure their collectors take good notes during every communication with debtors to ensure the most efficient collections possible.
Be sure to check out our article on Tips For Successful Debt Collections for insight into successful debt collections.
