More Self-Improvement Ideas

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The following ideas were submitted by readers in response to a question on self-improvement:

"A good college course for a credit manager to take is Psychology, although in this business perhaps Abnormal Psychology would be more appropriate at times.

"Another good course is Business Law, which gives you the ability to read and comprehend contract language and the Uniform Commercial Code.

Editor's Note: This article originally appeared in the Credit & Collection Manager's Letter which Credit Today purchased in 2006. This was a Reader Forum Column.

"Dun & Bradstreet has excellent courses directed at training the credit personnel. Seminars in law and communication are also available and directed toward credit personnel.

"One very fine way to pick up techniques is to attend meetings held by credit organizations such as the NACM where credit people interact to exchange ideas, problems, and resolutions, thereby offering the hands-on experience of others."

Russell L. Heller
Credit Manager
Mitsui Machine Technology, Inc.
Glendale Heights, Illinois

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"I find self-improvement courses the greatest help in keeping highly motivated for this demanding job. Seminars such as "Conflict and Confrontation" pave the way in dealing with customers, co-workers, as well as personal relationships. Every six months or so I get rejuvenated by attending a seminar or reading a book, or listening to a tape while on a drive. The aim is to keep a positive mental outlook. I highly recommend this type of study for the collector. Too easily we can become bogged down listening to problems. Often we feel like we are being chewed out, day after day, as we are expected to problem solve to produce a happy customer who will ultimately pay.

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"Our organization is service related, where high quality is foremost in sales and service representatives, and technicians. Therefore, my approach to collections must be sensitive to the resolution of the customer's needs rather than to create a no-win situation which means a no-pay situation. After all, the majority of our customers do repeat business. This is true of many types of service organizations.

"Being in the know of your business' policies and procedures is as important as the facts listed on the bill. Comlink Incorporated is a major network integrator for both voice and data that has constantly changing technology and products. Understanding our contract format and the knowledge of warranty and service contracts are a must in order to collect. I feel very fortunate that all employees have the opportunity to learn what we sell and how it works by in-house seminars offered to all employees.

"Anyone starting out in this field who plans to do medical collections needs a background in insurance law and billing procedures for both commercial and workman's compensation, as well as awareness of Medicare and Medicaid regulations. It's clearly not just a case of calling a patient and collecting the bill.

"The best tip is to have all the facts on collecting and the right frame of mind to stay on top of the situation. This, by all means, does not mean to monopolize the conversation. Listening for clues often tells you the collection avenue to take, which is another seminar--'Being a Good Listener!'"

Jean Joubert
Credit & Collections
Comlink Inc.
Marlborough, Massachusetts

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"With due respect to the normal credit and collection/business courses taken, the most unique outside course I attended not only improved networking with other credit professionals and attorneys, but it also provided up-to-date information on a vast array of collection problems involving the collection of consumer accounts.

"New ideas and collection techniques, bankruptcy, statutes, judgments, offsets, repossessions, and updates on laws and regulations were among the many topics discussed in this three-day conference held by The National Association of Retail Collection Attorneys. One primary purpose of the conference was to socialize informally for the exchange of ideas and contacts between attorneys and creditors. The knowledge, contacts, and materials derived from the conference wax well worth the time, effort, and money spent.

"The National Association of Retail Collection Attorneys is a not-for-profit corporation servicing the credit community. The address is: NARCA, 1515 N Warson, Suite 109, St. Louis, MO 63132."

Stephen I. Pribila
Assistant vice president, collections
First Commonwealth Federal Credit Union
Lehigh Valley, Pennsylvania

Editor's Note: The above article originally appeared in the Credit & Collection Manager's Letter, a newsletter purchased by Credit Today in 2006. This article originally appeared prior to 2000.