The bonus and how to swing it

Alright - the changes I feared weren't so bad. We have a new senior collector who seems pretty cool, our old senior collector just moved over one row, and those of us who are front-end collectors on the team were just informed that we had to hit bonus this month, no questions asked. Had to happen. That's it.

In order to hit bonus, you have to make enough money for the company that in their eyes, you are making a profit for them. I came very close to hitting that margin this month, but fell just short. So a quick pep talk for the upcoming month, and all is well.

There's several factors that go into hitting that profit margin. Most they are "rehabilitating" loans, and preferably at the highest rate listed. Then there is making sure people keep paying on their loans after they've been signed up. You can also earn toward that profit through "hardship" programs, but those don't offer nearly as good a return as a rehabilitation. And there is also the one area of collecting that I still have qualms about - garnishments. (THAT will be a separate post all on its own.)

So at this point, it is hunt, hunt, hunt and get people on the phone to pay. Christmas is always a rough time, since no one has any money, as they are trying to buy all their Christmas gifts. We'll see how all that works out this month.