Back in the stone age (the 80’s?), when we wrote on index
cards collectors had to keep concise collection notes, and shorthand and
acronyms developed. And later, when we
migrated to the first primitive collection databases, space and monitor screen
was still at a premium, so that shorthand code remained – today with modern
databases, we can write a virtual novel for collection notes, but it’s far more
efficient to continue to use shorthand.
Why? Because a brief note can be
quickly read later, when the file comes up again, and we don’t need to spend 5
minutes between each collection file typing out a report.
Sometimes, a short note is all that’s needed:
TEL 905-555-1212 LMOM – URGENT
You can see we have the important information (what number we called), an acronym (LMOM for “Left Message On Machine”, which clearly shows my age here), and a one word note to convey the kind of message left.
Sometimes the note should be a combination of shorthand and
longhand:
DB C/B FROM 905-555-1212 WANTS TO MAKE PMT NEXT
FRI 3/24 PAYDAY AT ACME CO IN BURLINGTON GAVE PAD INFO
So you have some acronyms (DB for “debtor”, C/B for “called back”, and you have full descriptions of things that don’t fit easily into shorthand, but the note is still fundamentally short.
And in some cases, a short note simply won’t do.
LWYR FRANK JONES C/B FROM 905-555-1313 IS
REPRESENTING DB DISPUTES DEBT CLAIMS PRODUCT NEVER RECEIVED WILL FAX NOTICE OF
REPRESENTATION AND SEND BY REGISTERED MAIL, ADVISED NO FURTHER CALLS TO DB
DIRECT ALL CORRESPONDANCE TO HIM -- ADV
LWYR THAT WE HAVE SIGNED DELIVERY SLIP WE WILL HAPPILY PROVIDE, LWYR WILL
REVIEW WITH CLT & C/M/B
I believe there are a few cardinal rules when making a collection note, to help everyone down the road:
* Whenever you make a call, note the phone number! If there are multiple numbers on file, it
keeps it clear what number you dialed.
* When you receive an inbound call, always note the phone
number on the inbound call display, you may gain useful information such as a
place of employment number or cell phone.
* If your call involves a date, deadline or consequence note
it! And don’t just put ‘next Friday’,
put the date
* keep your shortforms simple so your notes can be
understood by your co-workers and clients
* when you talk to anyone who isn’t noted on the file, make
a note of their name (ie. LM W/SPOUSE SUSAN)
Every collection agency is different, and is going to have a
different set of shorthand codes, but here is a short list of useful ones that
we typically use. It doesn’t need to be
a long list, and can be flexible by common sense (ie CHQ for cheque, etc).
Shorthand
|
Meaning
|
Example
|
BK
|
Bankrupt
|
TEL 905-555-1212 DB SK BK 9/15 W/BDO 416-555-1313
|
DB
|
Debtor
|
TEL 905-555-1212 DB SZ W/PAY 3/15
|
DB2
|
Second debtor/guarantor
|
TEL 905-555-1212 DB SZ TT DB2 LM TO HAVE C/B
|
C/B
|
Called back
|
WOMAN C/B FROM 905-555-1212 SZ WRG#
|
C/M/B
|
Call me back
|
TEL 905-555-1212 LMOM – 4TH MSG C/M/B!
|
CLT
|
Client
|
DAVE @CLT C/B SZ ACCT PD 3/2
|
CRBU
|
Credit bureau
|
PULLED CRBU SHOWS POE ACME CO 905-555-1313
|
DDLN
|
Deadline
|
TEL 905-555-1212 DB ADV DDLN TOMORROW
|
DKD
|
Don’t know debtor
|
TEL 905-555-1212 WOMAN SZ WRG# DKD
|
EOM
|
End of month
|
TEL 905-555-1212 DB GIVEN DDLN EOM
|
EOW
|
End of week
|
TEL 905-555-1212 DB PAYDAY IS EOW W/C/B
|
INB
|
Inbound Call
|
INB 905-555-1212 DB SZ GOT LTTR, WILL TT BANK & C/B
|
LM
|
Left message
|
TEL 905-555-1212 LM W/SPOUSE SUSAN FOR DB
|
LMOM
|
Left message on machine
|
TEL 905-555-1212 LMOM – 5TH MSG, C/B!
|
MR
|
Mail returned
|
MR SZ DB MOVED NO FWDG ADDRESS
|
NA
|
No answer
|
TEL 905-555-1212 NA (15:13)
|
NIS
|
Not in service
|
TEL 905-555-1212 NIS
|
NLWT
|
No longer works there
|
TEL POE 905-555-1313 SPOKE TO HR FRANK SZ DB NLWT
|
PAD
|
Pre authorized debit
|
TEL 905-555-1212 DB SET UP PAD EVERY 7TH
|
PIF
|
Paid in full
|
TEL 905-555-1212 DB W/PIF TOMORROW BY PAD
|
PPA
|
Partial payment arrangement
|
TEL 905-555-1313 DB OFFERS PPA $50/MO EVERY 15TH
|
PRP
|
Promise Payment
|
TEL 905-555-1313 DB PRP FRI 3/15 BY MAIL
|
POE
|
Place of employment
|
TEL POE 905-555-1313 LM W/COWORKER FRED
|
SIF
|
Settlement in full
|
TEL 905-555-1212 DB OFFERS SIF $3000 BY EOM
|
TEL
|
Telephoned
|
TEL 905-555-1414 DB SZ W/PAY NEXT WEEK
|
W/C/B
|
Will call back
|
TEL 905-555-1313 DB HORRIFIED IN COLLECTIONS W/C/B W/PPA
|
As always, if anyone has any questions about good collection techniques, or has some excellent shortforms to pass on to add to this list, I’m always happy to chat. Feel free to drop me an email or give me a call.
Thanks kindly,
Blair DeMarco-Wettlaufer
KINGSTON Data & Credit
Cambridge, Ontario
226-946-1730
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