How to deal with hostile debtors when recovering collateral

Everybody in lending knows that collateral recovery and vehicle repossessions are unpleasant and unenjoyable for all parties involved. Unfortunately, it’s a part of business in auto lending. And as long as your financial institution and its staff are tracking collateral and assets, you’ll encounter angry, hostile borrowers who will make asset collection as difficult as possible. Here are some tips for how to deal with hostile debtors when your financial institution staff, field agents, and repossession agents are trying to recover collateral.

1. Stay completely professional

Staying calm, cool, and collected in the face of a debtor who’s screaming, crying, or threatening is difficult. However, your financial institution’s staff, field agents, and repossessors must remain professional at all times to uphold your financial institution’s reputation and portray your institution in a positive light.

• Your repossessor’s personal appearance is a reflection on your financial institution and its partners. Uniforms or a dress code plus clear identification help establish that your field agents, partners, and repossessors are professionals conducting official business.

 

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