Tips & Tricks: When making a call on a past due account, always ask for the full amount, and always ask for it today. It's basic sales 101, and you are selling something. You're selling your client the ability to keep their vehicle. If you were selling them a car, you would start at MSRP and work your way down. It's the same with collections. They're past due, to get caught up they need to come in today and make the full payment.

- Chuck Bonanno, Leedom Group, Twenty Group moderator and Collections Trainer. chuck@twentygroups.com

Tips & Tricks: At the end of every collections call repeat back to the customer exactly what was discussed and the promise to pay. Like this, "Yes Mr. Smith, today you agreed to bring in a payment of $126.50 on Monday morning June 24th, before 10 a.m., is that correct?" When the customer agrees to what was discussed, ALWAYS thank him or her for the business and wish them a good day.

- Alex Price, MasterFiles, nationally recognized skip tracing and collections expert. alex.price@masterfiles.com

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