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We all know the old collection call trope. You call trying to reach the consumer. They answer, indicating that it is the right person. You then ask them to confirm their identity by sharing their SSN, DOB or other private information. They understandably aren’t a fan of this invasion of privacy, and a standoff ensues. There’s nothing like starting a conversation with an argument! 

There is a better way of doing this. And no, I don’t mean being “progressive” by only asking to confirm the last four digits of the consumer’s SSN. 

What if - and hear me out before you make any snap judgments - you just … didn’t do any of this. 

Think about it. If you’re a creditor/provider, the consumer directly provided you with the number that you called. If you’re a collection agency, you can likely establish that the consumer directly provided your client with the number you dialed. If you’re trying to reach Nate Kalnins, what is the likelihood that the Nate Kalnins that answered is not the person you are trying to reach?

My agency adopted this approach (while still maintaining some complimentary controls) a while back and saw an immediate 40% increase in right party contact rate. It didn’t lead to a linear increase in payments by 40% but it was quite impactful nonetheless. 

We’re not the only ones thinking this way either. I recently worked with multiple credit union clients that are taking this same approach as well, but for a different reason. Scammers demanding personal information from their members were so rampant that they decided to differentiate themselves by treating their members like old friends. Guess what, it worked! Right party contact rates are up across the board. 

Now, I’m not suggesting that you throw caution to the wind and start completely neglecting controls designed to prevent improper 3rd-party disclosure.

But I am suggesting that you challenge your preconceived notions about how you believe things must be done. Listen to the feedback you hear from your team and your consumers. Complaints and friction are opportunities in disguise!

In my fourteen years (no, I can’t believe that number is real either) in the industry, I’ve been incredibly fortunate. I’ve worked with great teams, met wonderful clients and had impactful mentors. But hands down, the most impactful relationships I’ve forged have been those in my professional network. 

I’ve seen firsthand how powerful a professional network can be. Having a network of peers that faces the same challenges that I do but approaches them with their own unique perspective is invaluable. I truly believe that all problems I face have already been solved by someone else. I just need to find that person! And thanks to my network, I often can. 

I want the same for you. And I want you to reach this point without spending fourteen years working on it. 

This is why I created Engage ARM. It’s a network of doers eager to grow, try new things, and create modern best practices to improve recovery departments. It also houses a growing library of resources you can use to put theory into practice and propel your operations forward. 

Best of all: it’s free to join. I just ask that you pay it forward - give back just as much as you receive.