Helping Debtors find Dollars to pay your bills
Train your Collectors to know all the places where and conditions under which debtors can obtain money to pay your bills. Debtors do not always know of these places and conditions. Collectors don't either... but they should.
Remind consumer debtors that money can sometimes be obtained from credit union... friends and relatives... banks... ordinary (not term) life insurance policies... city, county, state and federal sources... many others. Collectors must know specific names, addresses and details.
Remind commercial debtors that money can sometimes be obtained from receivables... inventory... improved own collection techniques, factoring... banks... many others. Collectors must know how to explain in detail.
List these places and conditions. Distribute lists to all Collectors. Follow up, too... to be sure the knowledge is absorbed and applied.
This project will take deep research and a good hunk of time. Once done, though... you'll have a leg up on keeping past-due dollars at a minimum.
Or you can spend money on outside consultants to do this for you. Don't. This project is much better performed as an in-house matter. Costs a lot less, too.
