Collection Communication Checklist: 10 Elements to Include
Find this checklist to know the top 10 elements that are compulsory in a collection communication process. Follow them and avoid the differences in collection communication
Have you reviewed your collection letter series lately?
Usually, that's the type of thing you put on auto-pilot and then rarely - if ever - pay attention to it again. But it's important to periodically take a look at what you're doing. After all, there's always room for improvement and things change over time. Here's a handy checklist you can use to make sure you're covering all your bases. When crafting any collection communication, make sure you follow these "tried and true" principles in order to maximize your results.
Use this checklist to make sure your collection communication is the best it can be!
PASS
FAIL
Does Your Collection Communication Meet These Tests?
Reference: Collection letters should always include debtor's name, address, invoice date, description of merchandise or service, and amount due.
Personal attention: Avoid form letters. Tailor the letter to the individual situation. Try to address the letter to a particular individual at the debtor firm.
Assign responsibility: Note the fact that your customer signed an order or accepted the merchandise or service.
Motivation: Appeal to honesty, fair play, valued reputation, desire to avoid disputes, goodwill and maintaining vendor relationships.
Face saving: Consider phrases such as "inadvertently overlooked," "earlier letters not referred to you," etc. Do not imply that an invoice was deliberately bypassed.
Urgency: The tone should indicate that the matter should be settled quickly but avoid an indication of panic. Sometimes letters mailed about a week apart can create a sense of urgency.
Attention formats: Use different types of letters, shapes, sizes, colors, etc.; interspersed with mailgrams, telegrams and telephone calls. Similarity of communications can counter the sense of urgency. Routine letters defeat any motivation to settle the matter.
Heightened impact: Sending a document by registered letter with return receipt requested will assure that the debtor receives the letter and indicates urgency. Collecting more quickly and with less follow-up can easily offset the added cost of mailing such letters.
Promises: Remind debtors that they agreed to pay within certain credit terms.
Time element: Set a limit as to when a response is desired.
instructor
name
title
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description
Ins
Editor
Highako Academy
Highako.com is a video-first micro-learning platform trusted by over 10,000+ Credit and Collections professionals. Leverage Highako to drive skill growth with role-specific expert video lessons, and hands-on assessments. Connect and collaborate with the largest credit community and get access to ready-to-use templates.
Highako.com is a video-first micro-learning platform trusted by over 10,000+ Credit and Collections professionals. Leverage Highako to drive skill growth with role-specific expert video lessons, and hands-on assessments. Connect and collaborate with the largest credit community and get access to ready-to-use templates.
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Have you reviewed your collection letter series lately?
Usually, that's the type of thing you put on auto-pilot and then rarely - if ever - pay attention to it again. But it's important to periodically take a look at what you're doing. After all, there's always room for improvement and things change over time. Here's a handy checklist you can use to make sure you're covering all your bases. When crafting any collection communication, make sure you follow these "tried and true" principles in order to maximize your results.
Use this checklist to make sure your collection communication is the best it can be!
PASS
FAIL
Does Your Collection Communication Meet These Tests?
Reference: Collection letters should always include debtor's name, address, invoice date, description of merchandise or service, and amount due.
Personal attention: Avoid form letters. Tailor the letter to the individual situation. Try to address the letter to a particular individual at the debtor firm.
Assign responsibility: Note the fact that your customer signed an order or accepted the merchandise or service.
Motivation: Appeal to honesty, fair play, valued reputation, desire to avoid disputes, goodwill and maintaining vendor relationships.
Face saving: Consider phrases such as "inadvertently overlooked," "earlier letters not referred to you," etc. Do not imply that an invoice was deliberately bypassed.
Urgency: The tone should indicate that the matter should be settled quickly but avoid an indication of panic. Sometimes letters mailed about a week apart can create a sense of urgency.
Attention formats: Use different types of letters, shapes, sizes, colors, etc.; interspersed with mailgrams, telegrams and telephone calls. Similarity of communications can counter the sense of urgency. Routine letters defeat any motivation to settle the matter.
Heightened impact: Sending a document by registered letter with return receipt requested will assure that the debtor receives the letter and indicates urgency. Collecting more quickly and with less follow-up can easily offset the added cost of mailing such letters.
Promises: Remind debtors that they agreed to pay within certain credit terms.
Time element: Set a limit as to when a response is desired.
instructor
name
title
image
description
Ins
Editor
Highako Academy
Highako.com is a video-first micro-learning platform trusted by over 10,000+ Credit and Collections professionals. Leverage Highako to drive skill growth with role-specific expert video lessons, and hands-on assessments. Connect and collaborate with the largest credit community and get access to ready-to-use templates.
Highako.com is a video-first micro-learning platform trusted by over 10,000+ Credit and Collections professionals. Leverage Highako to drive skill growth with role-specific expert video lessons, and hands-on assessments. Connect and collaborate with the largest credit community and get access to ready-to-use templates.
related
image
tag
title
description
link
contentType
KPIs and Reporting
Blog Sample 2 in Free Plan 1
Sample blog inside Free Plan 1. Lorem ipsum lorem ipsum lorem ipsum.
