Bogus Debtor Disputes
Information is a wonderful thing, and thanks to the internet we all have access to more and more of it. In our industry this often times means dealing with more educated debtors. If you google debt collection on the internet you will find hundreds of hits on how to avoid paying your debts. It is important that any collection agency that you select have a clear program in place on how to deal with these disputes.
The first step is to determine wether or not the dispute is bogus. There are several ways in which this can be done effectively. Rule number one, any form letter, printed off the internet (they are quite obvious) is a red flag. We can easily tell that at this point the debtor is going through the motions based on internet searches or advice and hoping the collection agency will not respond. Greentree does respond to each and every one of these letters, providing verification of the debt and requesting that the debtor provide proof of payment or validilty of the dispute.
If the dispute is deemed valid, agents should work diligently with clients and the customer to try to come up with an amicalble settlement. This is key in helping client's maintain integrity and reputation.
If the dispute is bogus, collection efforts should continue, it is true that bogus disputes waste time, and cost agencies more money to resolve, but with a comprehensive program in place these disputes can be overcome and the debts can be liquidated.
