The takeaway from Convention sessions Tuesday: Err on the side of caution while leveraging modern communication to reach consumers.
7/17/2019 9:00
Communicating with consumers takes many forms in the accounts receivable management industry; email text messages and phone calls. Instructors in Tuesday afternoon’s sessions at the 2019 Convention & Expo focused on communication trends and strategies.
Don’t Take the Bait
In the first interactive communication session of the day, Greg Rufino, director of training at Williams & Fudge Inc., presented helpful examples of calls from consumers or attorneys attempting to “bait” collectors into lawsuit violations. Front-end training and practicing strategies to prevent the harms of call baiting are critical and helpful tools at your agency. Play examples of calls for your collection agents to note red flags they can listen for; such as a consumer stating they disagree with the amount of their debt or asking about paying the debt so it doesn’t impact their credit report. Remember, present the facts, provide yes or no answers to consumers’ questions, or when in doubt don’t answer and end the call, Rufino explains. Using call notes and taking a detailed record if you suspect call baiting is another helpful tool to protect your agency. Last, ensure you have clear company policies on call baiting and when in doubt, “when the bait is shown, hang up the phone.”
It’s a Fin Tech World After All: Consumer Communications in a FinTech World
While frivolous lawsuits occur as a result of call baiting, other legal precedents result from bad actors using modern technology to dupe consumers.
No one picks up the phone anymore, much less uses a landline, so agencies are turning to email and text messages to reach consumers if they opt in, said June Coleman, shareholder at Carson & Messer LLP. How does an agency effectively communicate—and remain compliant using communication methods preferred by consumers in this modern era? One option is to take strategies used for calling a consumer on their landline or sending a letter and apply them to communication by email or text message. Ensure the communication doesn’t risk disclosure of the debt to a third party. The good news, while it is still in progress, is the Consumer Financial Protection Bureau’s Notice of Proposed Rulemaking on the Fair Debt Collection Practices Act addresses the prevalence of modern communication preferences and methods, Coleman and co-presenters Rachel Ross Friedman, attorney Burr & Forman LLP, and Matthew Stromquist, associate, Pilgrim Christakis LLP, explained. The final rule will outline how collectors can use these technologies while remaining compliant.
The question remains: How will a regulation stand up to legal precedent in cases on text messaging and legislation such as the E-Sign Act that also influence debt collectors’ compliance? Until there are some answers in the final rule from the CFPB, err on the side of caution while leveraging modern communication to reach consumers. Hear more on legal precedent in modern communication in a recording available of the detailed, informative session. To purchase, you can order many recordings from the 2019 Convention & Expo online at www.playbackaca.com .
Compassionate Phone Skills for the 2019 Agent
To balance challenges in communication methods for consumers, one technique stands the test of time: compassionate phone skills. Speaker Susan Donham, marketing director for Merchants Credit Association, reviewed her first-hand experience to help you balance communicating the necessary information to the consumer, but doing so with care. A series of difficult calls for a collection agent might impact their energy on the phone; but Donham recommends taking a step back to review your strategy all the way down to the words shared with a consumer.
Answer consumers’ questions promptly, but don’t interrupt and use power words like results and guarantee, not “uh-huh” and “ok” when talking with a consumer. Collection managers can incorporate these tools into their training and challenge agents to set goals for their interactions and success with consumers, Donham said. And, she notes, remind agents to always think about how they would like to improve their skills and not get stuck in the same pattern. At the end of the call, make sure the consumer understands their payment or the next steps in working on their account.
Overall, the 2019 Convention & Expo featured over 35 educational sessions by Certified Instructors, speakers and ACA staff as well as an Expo Hall with vendors and representatives of ACA focused on products to Help Members Succeed.
Check your email for ACA Daily this week and the coming days for more highlights from #ACAConv19 and visit acainternational.org. If you’re interested in more learning opportunities through ACA visit the events calendar to see all upcoming seminars and view the All Access Training Zone for online education at one low price.
Thank you to all attendees, speakers, sponsors and vendors for a successful 2019 Convention & Expo for ACA’s 80th Anniversary. Share your experience on social media @ACAIntl using #ACAConv19.