Outsource Debt Collection Services to the Philippines
Difficult-to-collect debts can bring real pain to business owners. The more it drags, the greater the risk! Hence, it’s important to have dedicated specialists who can engage and negotiate settlements with consumers with outstanding balances. These specialists are trained to collect various debts from personal, business, and student loans, to utility bills and credit cards.
The Philippines is a trusted country to outsource debt collection to because of its big contribution to customer service and BPO industry. The landscape has evolved from simple billing tasks outsourcing, and the country is now more involved with a wider variety of financial and professional services.
If you are looking to solve the debt collection problem for your business, worry no more! Our team is here to help you out.
Chasing people who have fallen behind on their bills
The term debt collector is pretty self-expanatory. These are people who are in the business of reaching out to individuals who haven’t paid their bills, and ensuring that they make good on their debts as soon as possible.
If you’ve ever answered a phone call from a bank representative who came to remind you about that credit bill your forgot to settle, then that’s a debt collector! That’s just one example, because debt collectors are also present in various industries. They will call to remind you of the misses on payments for loans, mortgage, cellphone or utility bills, and more! Aside from calls, they will also contact you via mail to ensure that you don’t “run away” from your responsibility.
What does a debt collector do?
Debt collection is more than just calling someone to remind him or her of his unpaid balance, hanging up, and waiting for the payment. If you are looking to outsource debt collection services, then that team will be responsible for below activities:
- Verifying and monitoring business accounts and their outstanding debts
- Reaching out to consumers about their overdue payments
- Investigation of historical data for each unpaid balance
- Encouraging timely debt payments
- Verifying customer credit issues
- Monitoring business account records and updating status based on recent collection efforts
- Processing of payments and/or endorsement to other relevant departments for customer queries
- Providing a collection report or status to the company
Is a debt collector persistent?
A debt collector has to be persistent to get the job done. However, we also know that there is a difference between persistence and abusive. Our team will make sure that when you outsource debt collection services to the Philippines, you do not have to worry about individuals who are out to violate consumer protection laws and abuse their role as collectors.
There is a standard procedure to be followed when making a verification of the debt the consumer has been contacted about, including negotiation, and payment. Specialists in the Philippines will be trained to know your business inside out, so that they are also compliant with the company’s policies. They will still follow the process as they get on with their jobs.
How do I outsource debt collection services?
We are all about helping you achieve business success by making sure all customer debts are not just accounted for, but settled as well.
1. Talk to us
We know that every business is unique. Thus, we need to understand what and how the business works to ensure debt collection services are to your satisfaction. Before we onboard a team of debt collectors or specialists, we will allot a specific period to accumulate knowledge about the company through training or an extensive orientation. This is so we can have everything covered before we proceed to the next step!
2. Accounts Turnover
What are the existing loans and debts in your record? After data sharing agreements have been taken care of, then we can work on the accounts that our team needs to reach out to. Call scripts and email templates will be polished, and will be the reference of every debt collector who will speak to your customers.
3. Calling customers to help settle balance and encourage timely debt payments
Now that everything is available for the team, they can proceed with their main work to collect the debt for your business. We maintain a professional approach, with each specialist skilled in giving top customer service support. They also avoid annoying and aggressive collection tactics such as harassment. The debt collection services team know each consumer’s rights, and can apply just the right amount of pressure so they would make good on their debt/s.
What are the qualifications of a good debt collector?
There are no specific qualifications for debt collection specialists because there is no required course to be one. Usually, these people come from different backgrounds. They do have common denominators and strengths that are helpful for a collector.
Negotiation and conflict resolution skills
This is the top skill a debt collector should have because they will need to communicate with customers on a regular basis. These customers can also be hard-to-deal-with, so it’s necessary for them to be able to resolve conflicts well.
A debt collector is not out to harass those who are late on their payments. He or she is there to remind and encourage settlements while being compliant of all laws and policies about collection.
Avoid those overdue invoices for your business with competent and firm debt collection specialists dedicated to help you out!
Outsourcing to the Philippines for debt collection can ensure that your business is running smoothly. Here are some of the benefits you can get from outsourcing to the Philippines:
- When you outsource debt collection services to the Philippines, then you will enjoy reduced operation costs by up to 70%. We are all about giving you the most cost-effective solution, and a high-powered capable of encouraging timely debt payments
- Access to experienced specialists that also know how to provide top-notch customer support
All it takes is a simple email or message then we can set you up! What are you waiting for?
We’d love to hear about your project and get an awesome campaign started with you!