COLLECTING PAST DUE ACCOUNTS: Silver Tounges
By Jim Finucan
© 2004 Tiare Publications
When a debtor tries to tell you he pays all of his bills on time,
just not the one you're concerned about – watch out! Smooth talking
debtors are experts at paying lip service to the idea of fiscal
responsibility. They'll talk about the bill, but not pay it. Doing
this eases the debtor's sense of guilt. Deep down debtors are
bothered by the idea of sticking others, but they are also selfish.
They've gotten what they wanted and now want to spend their money on
something else. At the same time they want to ease their conscience;
they want to feel good about themselves. Where others would get a
feeling of satisfaction from paying their bills, debtors just talk
about  paying.
It situations such as these you should get the facts immediately,
before the debtor realizes what you are doing. Systematically point
out the ways in which the debt could be paid. You can expect
resistance every step of the way. Meet it head on. Tell the debtor
that, without his cooperation, further action will have to be taken.
Suddenly confront the debtor with the fact that you've come to
believe he has no intention of paying you – you think he is just
stalling. Tell him exactly how it looks to you as someone who is
experienced in such matters. Let him know that you are going to
recommend legal action.
 The silence that's likely to follow can be dealt with in two ways:
While the debtor's guard is down, while he is perhaps even a bit
shocked, bring him back to reality with a solution that sounds
simple. With as much persuasion as you can muster lead him to
sending the balance in full. Or, wait to see what his response will
be. Often it will be quite revealing. The risk here is that if the
silence goes onto long the debtor may hang up and you'll be back at
square one.
Remember, your focus should always be in getting the balance paid –
in full!
About the Author
Let 15-year collections pro Jim Finucan show you how to double the
money you collect from your accounts receivable. Check out his
unique collections manual "Past Due." For more information visit: http://www.tiare.com/pastdue.htm
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