News Flash: Reporters Could Learn from Collectors

The collection industry has been surprised by two recent stories in The New York Times that presented a relatively positive portrait of the industry. The articles discussed the money returned to the economy and the jobs created, while noting the difficult job that agents do.

A recent piece in a journalism trade publication had considerably less exposure to the public but it spelled out some of the talents that a good agent needs. For example, the collector needs to know how to find a debtor, how to listen to the person to gain his confidence, how to communicate the creditor’s requirements, and how to gather a payment, or a commitment to a payment.

The story explained that a good reporter should develop these same skills as she tracks down a story. For reporters, the idea is to use those skills to gather information, according to the article “Collector offers insight to getting info you need,” in the March issue of Quill, the publication of the Society of Professional Journalists.

Reporter Susan Schwartz interviewed Dwayne Heisler, vice president and co-owner of Remit Corp., an agency in Bloomsburg, Pa., that “in October (2007) alone was “tracking down 45,700 people with bad debts.”

Heisler told Schwatrz that the most important skill for a debt collector was “the ability to communicate.”

He also offered some interesting techniques for working with people, including asking for help. “People help people who are lost. People help people they can relate to,” Heisler said.

Another idea – ask reflective questions, where you repeat something a contact said but in the form of a question.

A collector/reporter can also develop rapport by using the “feel, felt, found” approach. For instance, said Heisler, you might say to a debtor, “I understand you feel this way. I spoke to someone else who felt that way. We found this is a solution.”

Two other ideas – offer the debtor options, not just a take it or leave it approach. And be yourself, said Heisler, because, “people are people. … These are negotiating skills. They’re something you’ll always be able to use.”