• Collector: My name is…. And I am a debt collector with Armstrong and Associates. Under federal law I must advise you that this communication is from a debt collector, and this is an attempt to collect a debt. Any information obtained will be used for that purpose and this call is being recorded. We have an account in our office from….. with a total balance due of $1,524.30. We accept checks and cards over the phone, how would you like to take care of this balance in full today?
• Guarantor: I don’t have the money to pay all of that.
• Collector: Okay, we can look into some different options for you.

At this point you will proceed to ask probing questions

1. Are you currently working?
2. How often do you get paid?
3. Are you the only source of income?
4. How much disposable income do you have after monthly expenses?

Based on answers to probing questions you will present Guarantor with the best options

• Collector: Looking over your account I see that you qualify for a settlement offer. I can save you $457.29, bringing that total balance due down to $1,067.01. We accept checks and cards over the phone. How would you like to process that settlement today?
• Guarantor: That is still too much for me to pay all at once. Is there something else we can do?
• Collector: Absolutely! We can set you up on a payment plan based on your pay schedule and disposable income. Give me just a moment to get that together for you.

Utilize the information gathered from probing questions to calculate the best payment plan options.

• Collector: Absolutely! We can set you up on a payment plan based on your pay schedule and disposable income. So I will set you up for $200.00 every two weeks. This gives you roughly four months and the balance will be paid in full. When would you like for that first payment to come out?
• Guarantor: Sounds good. I can make the first payment on 00/00/00.
• Collector: Awesome! Give me just a moment to set that up for you.