It's a numbers game, dontcha see.
dixiesokol
Member
Posts: 38
Joined: Dec 2003
Thursday 07/22/04 9:57 AM (NEW!)
we keep track of a variety of stats; calls, contacts, # of promises, $ promised, etc. But actually, we learned a long time ago that if collectors think you're measuring their promise to pay ratio, they will just set up bogus promises. Everyone has promises that break, right? It's hard to prove that a colletor is just pumping up their stats and not really working the account effectively. So, we found that a better measurement is how much actually pays against how much is set up as a promise...This sort of gives you a picture of a collector's skill. If they get $100,000 promised in a month and then collect $20,000 in a month, you can begin to draw some conclusions. Comparing that to your most successful collectors gives you a benchmark for folks to aspire to. Keep in mind, some promises don't pay in the month they are made, so it is not an exact science, but it is a starting point.
Yep, debt collection is just a numbers game and the trick is to keep from becoming a positive number in their little game.
Creditwrench teaches you how to do just that.
Member
Posts: 38
Joined: Dec 2003
Thursday 07/22/04 9:57 AM (NEW!)
we keep track of a variety of stats; calls, contacts, # of promises, $ promised, etc. But actually, we learned a long time ago that if collectors think you're measuring their promise to pay ratio, they will just set up bogus promises. Everyone has promises that break, right? It's hard to prove that a colletor is just pumping up their stats and not really working the account effectively. So, we found that a better measurement is how much actually pays against how much is set up as a promise...This sort of gives you a picture of a collector's skill. If they get $100,000 promised in a month and then collect $20,000 in a month, you can begin to draw some conclusions. Comparing that to your most successful collectors gives you a benchmark for folks to aspire to. Keep in mind, some promises don't pay in the month they are made, so it is not an exact science, but it is a starting point.
Yep, debt collection is just a numbers game and the trick is to keep from becoming a positive number in their little game.
Creditwrench teaches you how to do just that.
posted by Creditwrench at 2:57 PM
