Experienced commercial collections services and law firms can help your company collect on outstanding debt—it’s what we do. However, the success of those collections services depends greatly on several factors, the most important of which is clear communication.

The Role of Communication in Commercial Collections Cases

In my experience, clear communication between creditors and collectors leads to strong relationships between the two. It also helps to build the strongest file possible when pursuing commercial debts.

This means the opposite is also true. A failure in communication—especially early on— leads to more issues throughout the case. It means critical information is lost or doesn’t get into the hands of those who need to see it. Too often this means me (that is, the attorney), which puts me at a distinct disadvantage when filing a collection suit. And, in the end, this leads to lower success rates.

I’m here to help you avoid those issues so you can collect what’s owed to you. So let’s talk bottom line about the top things you’ll need in place to create a culture of clear communication in your company and with your collections professional.

What Clear Communication Looks Like in Commercial Debt Recovery

To ensure a successful commercial debt collections process, both you and your collector must commit to exhibiting several factors that create the setting for clear communication. Those include being:

• Honest: The adage, “honesty is always the best policy,” certainly applies here. If you misconstrue facts or hold back all relevant information you will prevent your collector from doing their job well. Remember, your debt collector (whether an agency or law firm) is here to help you. Knowing what’s happened in the case from Day 1 is imperative.
• Forthcoming: This goes hand-in-hand with honesty. Share as much as possible at the outset and be open about everything that happens involving the claim as things progress. And, if possible, please avoid last-minute surprises—they will never hurt the debtor, only the claim.
• Accessible: Speak in a way that allows others to best understand you. Choose words that convey clear meaning and keep things as simple as possible. The less you make others work to understand you, the easier everything will be.
• Personable: Remember that we’re all human. Treat everyone involved in the case, from your debt collection specialist to the debtor, with respect and humanity. Most debtors did not intend to fail to repay the debt; usually, circumstances shift and they are no longer able to pay.
• Responsive: Return phone calls and emails promptly. Deliver requested information as quickly as possible. And ensure your team is on board with what’s happening so they can support your collector as needed.

Effective Communication Is Key to Successful Collections Cases

Collections success depends on clear communication and strong relationships between lenders and their collectors. Talk more. Share more. Be upfront about what you know. Be available to your team. The more open you are and the more we communicate, the better results you’ll see.

If you need help collecting on a commercial debt, reach out to my firm to learn how we can support you.