In our first newsletter we explained ways to improve your chances of collecting on a customer account.
This short article will focus more on the types of information or data you should obtain from your customer.
Today, data is extremely sensitive and protecting that data from outside sources is critical. So if you receive social security numbers, bank account information, credit card numbers or other personal information from a customer that could be used to collect on a debt, be sure that you have a way to protect that data from disclosure to a third party. We will talk about some of those ways in this article.
*Always encrypt data that you receive to protect it from being mined and retrieved.
*Always get Information about your Customer. Information is key to collecting a debt;
*Always get a copy of your customer’s Driver’s License- A driver’s license tells you a lot about your customer. It tells you, the customer’s name, address, state of residence, license number, and date of birth;
*Always get the last four digits of the customer’s social security number. This helps in searching for assets and customer identification.
*Always get a bank reference and keep copies any checks that you receive from the customer. If possible, have the customer pay the first invoice with a check.
*Always save copies of checks used to pay any bills that you send. Customer’s change banks so your information must change.
*Always get a signed agreement that spells out exactly the terms of what you are doing and how much it will cost.