Debt Collection Practices
“The Marshall Plan” is J.J. Marshall’s specific blend of tactics used to effectively assist our clients’ and collect their debt.
The Marshall Plan – Our Debt Collection Practices
1. The “Marshall” Approach- Our collectors employ a consultative approach when trying to collect a debt, as we believe that many people do want to pay their debts, and simply need coaching to find the appropriate payment terms. While this style of debt collection is at odds with the industry stereotype, and certainly is not the norm, a recent study has shown that this approach can be very effective in both increasing collection success rates and combating the negative public relations associated with the industry. In addition, it helps retain the reputation of our client’s businesses that we represent.
2. Free Consultation- We want to do the best job possible for our clients’ and one way for us to start off on the right foot with a new client is to audit, or preview, their uncollectible debt prior to us starting the collection process. This will help us get a better understanding of the debt and help us plan the best strategy for collecting it.
3. Extensive Research Methods- We believe that our ability to effectively research each file, using our meticulous research methodology, is directly related to our collection success rate. Any debt collection company can pick up the phone and call a debtor but the research done prior to contacting a debtor can be the difference between collecting a debt or not.
4. A Focus on Education- Educating our clients about how to combat debt before it starts and what to do when a debtor starts to become a problem helps our clients’ not only avoid some potential debt issues but puts them in a better position to retrieve their debt when in needs to go to collections. Our competition might say that we’re not very smart for teaching our clients’ how to avoid sending us work. We say it’s just good business.
5. Experience in a Broad Range of Industries- Fortunately for us we’ve have been in the debt collection business since 1975. So we have over 38 years of experience in a variety of industries to draw from. Whatever industry you are in we’ve most likely done collection work in it. And since each industry and its customers can be unique it is nice to work with a company that has “been there and done that”.