Gone are the days when debt recovery services were often looked down upon due to the industry mindset as well as the behavior of recovery agents towards the parties they call. Today, recovery services have earned their place in the business world. But that did not just happen overnight. It took a lot of hard work to change the industry mindset and to train the agents on how to behave with the parties they call.

Previous scenario

If you look carefully, agent behavior has long been a vital factor in the success of debt recovery services. In earlier days, when it was the industry norm to see the parties that fell behind on payment as deadbeats, the agent used to treat the parties they call with utter disrespect. They were often accused of behaving rudely with the parties. They were mean and impatient at times too.

None of these are acceptable ways to behave with a client of your client. But what made their behavior totally unacceptable is their ample use of scare tactics in the conversation. In order to recover the money, they often used to intimidate and threaten people. Naturally, that did not go well with parties and many of them chose not to pay their dues.

Some others decided not to work with the company that hired the recovery services ever again. These resulted in major client attrition and a huge financial loss for the company. For the recovery services, it was a loss of effectiveness.

Once a service loses its effectiveness, they either go extinct or they have to change their strategies.  Debt recovery services decided to go with the latter option and changed its strategies. And the new-age debt recovery service was born.

New-age scenario

Today, the behavior of debt recovery agents has undergone a sea change. They now treat the parties they call with the respect they deserve. After all, the parties still are the clients of the company that hired them. Misbehaving with them may damage the relationship between these parties and the company. As a result, it can cost the company it clients and earn the debt recovery service a bad reputation.

Another vital change that took place in agent behavior is that they have become more willing to listen what the party has to say about the due amount. Sometimes it is found that all of it was due to misunderstanding or miscommunication. There might have been a wrong entry in the journal or the party was under impression that payment has been issued.

In some cases, the parties do not have adequate money in hand to pay the dues right now. In such cases, paying in installments can be arranged. The company may even give the party a discount. But if the agents refuse to listen to the parties like they used to, such smooth operation could never take

The new-age recovery agents also did away with threats and intimidation. They have learned the hard way that scare tactics never pay off.

Overall, these changes in agent behavior have transformed new-age debt recovery services and made it more effective than ever.