Page 126 - Microsoft Word - NEW 2017 Standard Program.docx

large part, on timely status reports from the recovery agent. The importance of status
reports cannot be overstated, and the agent who does not realize this will soon be
looking for another client.
Communicate to your prospective clients that you realize the importance of status reports
and ask for a copy of their procedures on status reports so that you can make this a part of
your regular office meetings. You should also communicate what your standard procedures
are for status reports. In some instances, the prospective clients will accept those in lieu
of their own.

One of the most important objectives in your meetings with prospective clients is their
commitment that, should a problem or complaint arise during the business relationship,
they will communicate that problem to you and allow you the opportunity to resolve
the matter rather than simply hiring another Recovery Agency with no notice to
you. Communicate to your prospects that such an understanding and agreement can only
lead to a more effective and long-lasting relationship.

Communication with Debtors
With the significant increase in secured apartment complexes and homes with protective
devices such as fences and double car garages, etc., personal contact with the debtor has
become more necessary, requiring the successful Recovery Agent to become better skilled
in communicating with the debtor. The most critical step in the successful recovery of
collateral where personal contact occurs is the ability of the Recovery Agent to
communicate the necessity of the repossession convincingly, with tact and
professionalism. Proper dress and demeanor and communication skills are as
important in these situations as when meeting with clients or prospective clients.

The ability to detect whether the debtor may be under the influence of drugs or alcohol,
or whether other situations exist which might cause the debtor to be unduly combative,
either verbally or physically, is a very important skill to perfect. Personal problems such
as the loss of employment, illness, etc., can quickly create a situation for an unsuccessful
repossession if the Recovery Agent is insensitive or lacking in communication skills.

There are no substitutes for knowledge, experience and the ability to communicate
effectively. Having knowledge of federal, state and local laws applicable to the recovery
process, and dealing with debtors on a personal level, will go a long way to ensuring
proper communication.

And remember, when a Breach of the Peace is imminent, the Recovery Agent always
has the duty to retreat. As your communication skills increase, you will experience an
increase in your ability to successfully recover collateral directly from the debtor, and a
significant decrease in the potential for a Breach of the Peace or a refusal by the debtor to
turn over the collateral. Many attempted repossessions are unsuccessful when the
Recovery Agent must make personal contact. This is often attributed to a lack of
communication skills or because the Recovery Agent is unfamiliar with the law and does
not know how to respond to a debtor’s refusal to relinquish the defaulted collateral.