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> collection advice checklist
collection advice checklist
Preparation
Review the client's file and background information
Identify the debt amount and any payment history
Gather relevant documentation (contracts, invoices, etc.)
Determine the applicable laws and regulations
Communication
Prepare a clear message outlining the debt
Decide on the method of communication (email, phone, letter)
Establish a tone that is professional and firm
Schedule a time for communication if necessary
Negotiation
Determine the desired outcome (full payment, settlement, payment plan)
Prepare to discuss options with the debtor
Be open to counteroffers and alternative solutions
Document all agreements reached during negotiation
Follow-Up
Set reminders for follow-up communications
Confirm agreements in writing
Monitor payment schedules and compliance
Be prepared to escalate if payments are not received
Review
Assess the effectiveness of the collection strategy
Document lessons learned for future collections
Update client on the status and any actions taken
Evaluate any need for legal action if necessary
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