The Debtor Personas — Chapter 5: Goldfishes

Short-Term memory loss is not always a medical condition

For the past few weeks we have been going on about different types of debtor personas. By now, one might start questioning himself… ”are there any more of these guys?” Unfortunately, the answer is obvious: yes, there are. 
Plus, the next type will come as no surprise, as we can all say we have met a few in the past.

Who are we talking about? The goldfish. Have you ever heard of the expression “goldfish memory”? It does ring a bell, right? If not, Disney has a made a great movie about this illness…Today, we present you the ones who forget (and may keep on forgetting).

First, you need to understand if it is a “real” forgetfulness or an “excuse” forgetfulness. The real one is easy to deal with and usually a few notifications will do the trick. You’ll trigger payment and with future interactions you’re likely to correct his/her behavior. 
Also, do not worry, with Invisible Collector the notifications are automatic and will be sent by the best channel possible. The problem remains when this is not the case and there are several aspects that must be dealt with… keep in mind this is by far one of the most heterogeneous group.

First, there is a chance that they may become Wally’s. It may be on purpose, it may not be, but either way you should be cautious and act accordingly. Remember, the Wally’s always end up being found. Secondly, you can also find in here the ones who get astonished when confronted: “Me? I would never forget to pay a debt, you must be mistaking the person!”. Probably you’re not, if you did your homework right. Choose your words wisely, show them the proof that there actually something pending on their end.

Accuracy will make these guys divert their fraudulent attempts.

Wrapping up, this is not the most difficult group to collect from, however it can be the most difficult one to deal with due to the different drivers that can be behind their behavior. Find that reason and you will find yourself in a much easier situation to deal with. Never forget to properly adjust your channels. Covering all alternatives may be a great driver and also, make use of pre-emptive notifications.