Tuesday, September 12, 2017

Don't Knock Door Knocks

In the field services world it's generally understood that loan-related delinquency interviews, also known as door knocks, are on the lower rungs of the ladder when it comes to assignments.

To put it quite bluntly, this is the type of inspection that doesn't require much if any training -- except for a knowledge of the Fair Debt Collection Practices Act, so you don't get into trouble by saying or doing the wrong thing.

More experienced field agents often sneer at these assignments because of the low pay and sometimes tedious work for the money earned. These people have forgotten that they themselves most likely entered the field services profession by performing delinquency interviews.

If you're a new field agent, don't be ashamed to accept door knocks. They won't pay much. However, they are usually easy to complete quickly.

Keep in mind the thought that door knocks are your entry point into a new world; an ideal training ground for better assignments in the future.

Delinquent debtors are not going to be happy to see you. They may become angry; use harsh language, or try to intimidate you. They will cry. They will lie to you. They will even insult your intelligence by pretending to not be home -- even though their car is parked out front, the porch light is on, and you can hear a television playing inside when you approach the residence.

If you can learn to deal with delinquent debtors then you'll have the fortitude to handle pretty much anything else that might come your way as you gain experience and sign up with more companies.

So, don't be afraid of delinquency interviews. Don't turn your nose up at them because you think they are beneath you. They are invaluable training for what lies ahead. But at the same time, be careful about which door knocks you accept.

You will soon learn which field services companies will compensate your fairly for door knocks. At this level of field work you can't expect much in the way of negotiation for more money, so best to stick with those companies who are paying more than the $5 or so I've seen offered by some cheapskate operations. If  they're not offering at least $10, forget about those companies.

Because of the low pay rate, the only way to make real money with door knocks is to have several on one route. Sign up with as many companies as you think you can handle. Look at the offers given you and then look at a map. Plan a route and estimate how much time you'll need and how much gas you'll use.

You may still be a rank amateur, but you're in this to make a profit, not to lose your shirt or break even... or to do favors for lowballers who might approach you with their hat in their hand.

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