Average Joe
Senior Member
Posts: 335
Joined: Apr 2004
Tuesday 09/07/04 1:16 PM (NEW!)
ACA's commentary was crap. Collectors still use fear as a motivator, like it or not.
And consumers continue to respond, favorably, to that approach. An old wise man once told me that everything we do is driven by fear, to some degree, and in my experience dealing with debtors, I have to agree.
Ultimately, a large percentage of payers become payers because they're fearing the consequences of them not paying. If you completely remove the negative consequences that usually follow non-payment, you will see a sharp decline in delinquent recoveries.
That does not mean that good, wise collectors are unable to apply other strategies. The best of the best know that you must be able to change your approach to collecting a debt like a chameleon changes colors, or you'll leave a lot of money on the table.
FEAR is a powerful motivator, and is used by folks all the time, in many different professions and scenarios. Ironically, it is one of the main focuses of the AofC crew in how they approach CAs when they want deletions, small settlements, or for the CAs to just go away.
Parents use it to motivate their kids, teacher use it to keep students in line, drill sergents use it to build rapport and develop respect.
What are your thoughts Bill?
-------------------------
Let's skip the rent this month.
Edited: Tuesday 09/07/04 at 1:17 PM by Average Joe
Senior Member
Posts: 335
Joined: Apr 2004
Tuesday 09/07/04 1:16 PM (NEW!)
ACA's commentary was crap. Collectors still use fear as a motivator, like it or not.
And consumers continue to respond, favorably, to that approach. An old wise man once told me that everything we do is driven by fear, to some degree, and in my experience dealing with debtors, I have to agree.
Ultimately, a large percentage of payers become payers because they're fearing the consequences of them not paying. If you completely remove the negative consequences that usually follow non-payment, you will see a sharp decline in delinquent recoveries.
That does not mean that good, wise collectors are unable to apply other strategies. The best of the best know that you must be able to change your approach to collecting a debt like a chameleon changes colors, or you'll leave a lot of money on the table.
FEAR is a powerful motivator, and is used by folks all the time, in many different professions and scenarios. Ironically, it is one of the main focuses of the AofC crew in how they approach CAs when they want deletions, small settlements, or for the CAs to just go away.
Parents use it to motivate their kids, teacher use it to keep students in line, drill sergents use it to build rapport and develop respect.
What are your thoughts Bill?
-------------------------
Let's skip the rent this month.
Edited: Tuesday 09/07/04 at 1:17 PM by Average Joe
posted by Creditwrench at 6:10 PM
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