10 Secrets of Debt Collectors

I'm a debt collector and enjoy my job. I treat everybody with respect and try and help people in anyway I can to help them pay down their debts. Most want to pay but can't, a lot lie and tend to blame others. I respect people when they own up to their actions, admit their problem(s) and try to work together with me to create a viable solution to their issue. We are here to help, remember if you are contacted by me don't blame me, blame yourself take ownership of your debt, admit your mistake and be rational so we can both move on. Let me ask this question- If you obtain an item without paying for it is it stealing? also, where is the place that pays 10k a month?? I want that job :)

Let’s figure this out. Say you keep a 5,000 balance on a card for say eight years. You pay $100 a month payment for those eight years. That’s $9600 you have paid and you still owe them $5k. Then you lose your job and can’t pay. The creditors will then hound you for money of which you have already paid double the amount. The bank has already doubled their money on the $5k yet they claim a loss. Legally you owe the money; morally you have more than paid it back.

What really annoys me are the collection calls week after week. I know from past work experience that collectors keep "electronic notes." I have explained over and over the medical catastrophe I endured. I suffered and survived a Massive Ruptured Abdominal Aortic Aneurysm. 60% die within minutes, 90-95% die befor getting to the table, of the 5% less than 1% walk away without brain damage, total kidney failure resulting in dialysis for life and lost of speach.This has left me disable and unable to work. I get so tired repeating this week after week to these rude, collectors who's grammer is atrocious!

For all those people who are saying, "Pay your f'ing bills," don't assume that everyone who has debt collectors calling them are the irresponsible idiots you make them out to be. Many times, debt builds up because of extreme healthcare costs (even with insurance!), the loss of a job (if you don't have money, you can't pay ANY bills, which means that any money you do scrap up has to go to food and rent for basic survival), and disability. Not everyone goes out and charges up credit cards to buy fancy things . . . My personal experience was that my husband lost his job and we were struggling just to buy food for a while. I don't mind the debt collectors calling; they have to, it's their job. However, they still need to be respectful. I had one guy call me and ask me, after I had explained that I had no money because my husband was out of a job, why I didn't have the money to pay the company and why I couldn't try to "find" it. That's rude. Don't get personal with me when I don't even know where the money for rent or groceries will come from! Of course, I've also had very pleasant debt collectors who had agents call me that weren't rude and were willing to be courteous. The thing is . . . if I have a debt, I'M the one creating the agent's job, so they should be nice to me. I'm not lying if I say I don't have the money; it's simply not there! I'd be an imbecile to pay a debt collector and then have no money for groceries or rent. And just because I don't have the money to pay the debt doesn't mean I'm not WILLING to pay; I simply don't have the ABILITY to satisfy the debt. Just remember . . . all debt is not because of credit cards!

As the old saying goes: You can't squeeze blood out of a turnip. I really don't like these people. When they used to start getting nasty - that was it. Don't work with me. It's over.

I won't talk to debt collectors, as soon as I find out they are det collectors I hang up. If I had the EFFING MONEY I"D ALREADY HAVE PAID YOU! Don't call me because I will NOT talk to you, you WILL get the dial tone!

Keep track of EVERY bit of correspondence with these parasites. They will try to collect over and above what you owe if you don't. Scan and keep a file of every thing or it's your word against THEIR ENTIRE AGENCY. They are creeps.

pay your bills and they wont try and collect its your own faults that your in collections dont put the blame on the people that are trying to get you back on the road to finacial success because you debtors are the problem for this country even our own government is in debt

Debt collectors get a bad rap. Anyone who hates them should look up the word debt and understand who the bad guy really is. I make exceptions only for those who have lost a job in this economy.

The information is half true. Much like the rest of the information posted by non-experts.

As debt colllectors we understand people go trough hard times as most if not all collectors have been or are in difficult times, but you still need to pay your bills. Yes there are rouge collectors who say off the wall things to debtors, but this is a two way street and I am not justifying what a collector says, but what other job do you have to put up with someone telling you they wish you had cancer, that your kid would be killed or that your would die a painful death; all things I have been told by a debtor. The deal is we have a job to do and our job is no different than yours, simply perform or get fired. The statute of limitation comment on this post is in accurate and the debt will stay on your credit for 7 years not matter if the statues have run out in your state. When the statues run out in your state that means you can not be sued but the debt still stays on your credit for the remaining part of the 7 years unless a judgment has been entered against you and then this will extend the length of time the debt is on your credit. Neither here nor ther if the debt is on your credit you should pay the debt back. Why? Because you borrowed the money. If you neighbor borrowed your tools wouldn't you want them back? Everyone hates bill collectors but if you hate bill collectors so much, the easiest thing you can do is pay all your bills and eliminate all debt so you don't have the debt collection industry. This will never happen, but it is not different than your friend stepping outside in one hundred degree weather and saying it is hot outside. Really? Stop complaing and deal with the situation at hand as bill collectors are there to help, but simply not paying is not the option. It is ridiculous to think that you think the outcome is acceptable for not paying your bill(s). The United States economy is in shambles partly due to not having strict enough laws regarding repaying your debt(s). If Congress would pass a law that states you can not have any bills that are presently late or defaulted prior to getting another loan, then guess what, the economy would be in a much better postion. America, stop carrying credit card balances in case something bad happens, put down the McDonald's cheesburger and get off the couch and get a job, any job as something is bettter than nothing. The bottom line here is that you would want your money back if you lent it to someone, so expect the same from a creditor. If you are complaining about the interest, late fees and over the limit fees, then suprise, dont' sign up for the card. It is that simple. Most debtors always want to point the finger somewhere else instead of in the mirror. If you start living below your means(income), save some money, don't buy the next great item and pay your bills on time then you should be in a realtively good situation. If you are in debt shoudl you go on vacation? Well all the responsible individuals say absoluetly not because it is not in the budget, but I can not tell you how many people go no matter their financial situation and black Friday, Christmas and other holidays doesnt' matter as they are buying the latest and greatest no matter. Is this everyone, no, but is it the majority absoluelty. The credit industry is so backwards as a whole that it needs complete revamping and I would love to change it from top to bottom and simply the entire industry. If you keep it simple stupid and make everything uniformed then this allows less errors, more understaning and essentially more bills paid which drives the cost of goods sold down.

I was a bill collector for many years and have since moved on but not because of anything more than me pursuing a professional degree and achieveing that goal. Debtors, the more you attempt and are willing to pay the more a collector is willing to work with you.

Out
The # 1 Dunner

Some people have genuine hard luck stories, but I bet the majority of debtors who don't pay are just irresponsible. Pay your bills and the debt collectors won't call!

There's this prevailing attitude that debt collectors are the jerks in this deal. Really, it's the debtors - the ones that broke the agreements they made with the lenders that are the real jerks.

Like them or not, this is a job that has to be done. If you don't want them bothering you - don't overextend yourself. Live below your means...don't try to keep up with the Smiths, the 'stuff' you want probably really isn't worth it...it's just stuff.

its a job just like yours.and if your any good at it it pays well too.

I have been in collections over 40 years, have been a collector on the floor and in the manager's chair, worked in litigation attorneys offices where we sued people and am still collecting at almost 60 years old. Let me clear a few points up from this "article". First of all, not all collectors are the nasty, mean, diabolical people we are made out to be. Most of us are willing to work with you to clear your debt. A large percentage of us DO NOT think you are all liars, but, yes, we do ask if there is a way you might be able to get the funds to clear the debt...that is what our CLIENT has hired us to do. Those of us who are truly professionals DO understand there are extenuating circumstances at times and don't just label it HLS...we try to help you figure out a way to clear the debt that keeps everyone happy. Yes, we get bonuses, but..at least where I am working...we are decently salaried/hourly and the bonus is incidental and not that much. Yes, we are negotiators-that is most of our talent and sometimes a second voice CAN help a situation resolve itself. "Good cop-Bad cop"? I guess there are some that use that, but most of us that have been at it for a long time don't need to do that. Yes, if the statute-of-limitations is expired-generally a MAXIMUM of 6 years & 9 months-(some states it is less)-you cannot be sued...BUT, and this is a big BUT, the debt is still owed and you CAN be asked to pay it and it will remain owed in perpetuity until you do. Most agencies don't bother with these accounts because they have no leverage, but they DO NOT just go away. Actually, a lot of us DON'T you call at work if we can help it, because we would not want the same thing done to us. PLEASE NOTE: You can verbally tell a collector NOT to call your job and they MUST CEASE-it doesn't have to be in writing. BUT, at home, you MUST put a cease-and -desist in writing. That does not mean the creditor has no further recourse, it just means they then must sue you for judgment and then see what is legally available in your state with regards to attachment of assets or income. Most states allow wages to be attached at a percentage-generally from 10-to-25% of gross or after-tax dollars. You have to check in your state to see what they allow. SETTLEMENTS are often allowed, up to 50% in a lot of cases...BUT, be aware the company you owe the money to can...and often does...send you a 1099 tax form, which means you MUST, by law, claim the amount of the discount as income AND it is reported on your credit as a settled account, not as paid-in-full. My specialty is now and has been, on and off, bad checks. PEOPLE PLEASE, PLEASE, PLEASE understand it is against the law to pass a bad check and you CAN be prosecuted on a bad check, regardless of the amount! Granted, most companies won't bother on anything less than about $100.00, but there are some that will do it for any amount! Also-do yourselves a great favor and STOP LEAVING YOUR WALLETS, PURSES AND CHECKBOOKS IN YOUR CARS!!! I can't tell you how many times we end up with fraudulent checks because of this..and YOU STILL HAVE TO PROVE YOU DIDN'T WRITE THEM! That means filing police reports, getting notarized affidavits of forgery-all time consuming activities! When you close an account, don't JUST THROW THE CHECKS OUT! Shred them or, better yet-BURN THEM! Thanks for listening!

Many of the things said here are true, and some apply to some companies more than others, however I will say that many of these items although they appear negative, are effective ways to contact customers, many of which have been graciously given a credit line from that company with no intention to pay their bill. So..the company could just go and sue them, but prefers to try to contact them first to work it out, sometimes settling for pennies on the dollar which is not fair to the company who took a chance with that customer. There are certainly many customers who simply can't afford to pay their bill and got in over their heads, and I can't speak for all companies but I work for Capital One and we invest a lot of time, money and energy into coming up with flexible solutions to try to help customers pay. Contacting them is difficult but when we get them on the phone,we try to have a great experience and help them versus harass them (although I know to a customer it can be interpreted as harassment). Bottom line - pay your bill and they won't bother you.

Debt collectors should be subject to rules and regulations that if violated will land them in jail for a minmum of 12-36 months. I don't have a problem with what they do but I do have a problem with how they do it.

Some people have legitimate reasons for not being able to pay their bill. My husband and I do not have any credit cards, but we do have a couple of student loans. We thought by getting a better education, we would be more successful, thereby able to pay them. Well, there are no jobs out there, and we are stuck with the loans. We have them on deferment currently, so they are just adding on interest. We will owe more than we did before the deferment. Does anyone know how to deal with student loan debt? I dont mind paying the actual amount of the loan, but by adding on tons of interest and fees, it is looking less promising that they will get the money.

So if this puts any perspective out for you guys that say pay your bills I went to college took some extra loans mistake yes. My wife worked a very good job and went to working 2 to help me go to school and needless to say we were denied additional money to help with school loans and money out of our pocket because we made too much. Little did I know had I worked no job and had a child I could have went for free. Well long story short my wife makes commission in the banking system and now makes much less then used to even when her commission was less. We could not predict what would have happened with the banking business and now have loan payments that are increasing interest wise to a bank that says they are suffering. I want to pay my bills yes but sometimes just sometimes crap health and life happens to give us a bad hand and credit companies calling 5 to 9 times a day to collect a debt is just stupid. How much are they spending in phone bills to call I wonder. Oh yeh we are also someone that had prime credit and had our interest rates jump by 4 times as much. So all this collection crap is just some story to them I would like them to see what I lost to pay them. Its not so much the rope that is hanging debtors but the ever tightning noose of the creditors. We never saw prime credit people rates going to over 20% on credit cards. Now instead of making extra payments we are just paying the minimum. Hows that for the tighter noose.

What these collectors don't know about me is if I found out where they live I would break into there homes and cut they're throats.