How to Negotiate with a Difficult Debtor

By vertikaluser In News On January 30, 2014

Debt Collections Thailand

Negotiating with a difficult debtor can be a daunting ordeal for any creditor. If they have full intentions of running away from you, you might have to do some running after – and that can take so much of your time, resources and energy. Negotiating is an intricate art that must be handled with utmost care and expertise. We suggest that creditors make sure they remain professional and objective no matter how difficult the situation may seem.

Below are some tips to help creditors deal with difficult debtors. These are some of the tips our seasoned debt collection specialists implore for cases that appear almost impossible. We hope the tips below can help you reclaim that is rightfully yours the easiest way possible.

Be professional.

As mentioned earlier, negotiating must be done with utmost professionalism. Keeping a professional attitude sends a message towards your debtor that you take your agreement seriously. Not letting your emotion get in the way is the best way to go any type of negotiation.

While it perfectly understandable for your frustration to manifest while negotiating with an especially difficult debtor, it will not get your money back at the soonest amount of time. Aggression and imploring intimidation tactics can only hurt your reputation and in the end, it won’t get you your money back.

Be objective.

This is another point discussed earlier and we want to expound on it further here. Being objective even when the situation is difficult is the only way you can get your money back. Your debtor is running away because they do not have the capacity to pay you so be sure to be objective and learn to adapt with the current situation.

Know that negotiating with a rogue debtor means agreeing whole new terms of payment based on their current capacity. Be objective and focus on settling with a payment plans that are beneficial and plausible for you and your debtor, both.

Put everything to writing.

This is probably one of the most overlooked tip by creditors everywhere. Putting everything to writing can help solidify your claims should you need to take legal actions to reclaim what is rightfully yours. Every time you are in contact with your debtor, be sure to have a sort of documentation to record what you talked about – write down everything concerning your agreement and have it notarized so it can be validated in court, should a need to file a lawsuit arise.

Talk to an expert.

If negotiating is not your strongest suit, find an agent who is. There are debt collection agencies staffed by seasoned legal experts and intensively trained negotiators who can address all areas of concern regarding your case.

Debt Collections Thailand has some of the best negotiators in the country. We also have an in-house legal team that can help you manage your transactions according to limitations prescribed by the law. You no longer have to deal with endless amounts of paperwork because our team will handle everything for you.

If you need expert advice regarding your case, do not hesitate to get in touch with us today. Our seasoned debt collection agents will be more than happy to help come up with a strategy that can help you get your money back in the soonest time possible.