Overcoming Objections

I recently had an inquiry from a new student about overcoming common objections and I thought I would share my thoughts here.

Perhaps surprisingly, you will find that many debtor business owners are simply in denial about their past due debts. If they do not have the resources available to pay, they often ignore the demands for payment. Unfortunately, there is not much we can do about that kind of attitude apart from explaining we intend to save them as much as possible and they will have full control over whether they accept or reject the final settlement terms. Usually these folks just ignore all correspondence and phone calls regarding their debts.

Other business owners will have a "come and get me" attitude and just don't care if a judgment is issued against them for a debt. Their rationale is "there are no assets so who cares about judgments or liens". Plus, if the business is incorporated and the owner is not named as a defendant, they can shut the doors and walk away without any personal liability. Again, offering to negotiate a settlement on a no results / no charge basis could land a paying client in this situation... they have nothing to lose and potentially a great deal to gain.

Sometimes a prospective client will indicate they plan to use their attorney. You can suggest these folks allow you to attempt a settlement first and, if you can't reach acceptable terms, they can always use their attorney (nothing to lose).

On rare occasions you might have an objection to your fee. Explaining you plan so save them substantially more than your fee can usually land these clients.

My complete commercial debt resolution Business Plan System provides a powerful sample prospect letter that often results in new clients calling you for assistance. Also included is a sample prospect script to use for your follow-up calls which is usually enough to garner business. Although objections are rare, using the above suggestions to overcome them should help you quickly build a profitable practice.

Scott F. Soape