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Debt collector's strategy for getting paid: kindness

Debt collector's strategy for getting paid: kindness

(3:05) Treat your customers with dignity and respect. That was the mantra Bill and Kathy Bartmann followed when they started their debt collection agency CFS2. Having found themselves deeply in debt during the 1980s, the couple vowed to find a better way to deal with predatory debt collectors.

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juliacampbell juliacampbell (1303 days ago)
Latest comment:

This might work on the minority but with the majority this could be another story.

The one market a number of individuals have been waiting for the CFPB to start watching is debt collection companies. The CFPB does have the mandate to do so, as they are non-bank financial agencies. The bureau has also informed a number of companies in the debt collection business that they will be under Consumer Financial Protection Bureau supervision starting in January. Source: LINK

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Latest comment:

This might work on the minority but with the majority this could be another story.

The one market a number of individuals have been waiting for the CFPB to start watching is debt collection companies. The CFPB does have the mandate to do so, as they are non-bank financial agencies. The bureau has also informed a number of companies in the debt collection business that they will be under Consumer Financial Protection Bureau supervision starting in January. Source: LINK

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glortman glortman (1489 days ago)
That was an encouraging story.
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That was an encouraging story.
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guest123456789 guest123456789 (1491 days ago)
Helped her renegotiate all her debts. Oh my god, that deserves a nobel prize for sure. Its a normal collection practice to sending people to a credit counseling service. Some companies will even reduce payments and/or interest rates while they are participating in the counseling. Pretending like you're there to help is a standard collection technique. They all say they are trying to prevent your debt from going to a third party collection agency or from being reported in a different bucket at the credit bureau and trying to save your FICO score, etc. Whatever. Their whole goal is to collect on the debt. I'd like to see how this company collects on debts when they don't have any leverage such as it being illegal to garnish wages or being illegal to repo something like an alarm system. Its not much help to create a resume when the debtor has a job already. I've heard collectors recommend donating blood for money to pay their bills. That's also helping the customer.
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Helped her renegotiate all her debts. Oh my god, that deserves a nobel prize for sure. Its a normal collection practice to sending people to a credit counseling service. Some companies will even reduce payments and/or interest rates while they are participating in the counseling. Pretending like you're there to help is a standard collection technique. They all say they are trying to prevent your debt from going to a third party collection agency or from being reported in a different bucket at the credit bureau and trying to save your FICO score, etc. Whatever. Their whole goal is to collect on the debt. I'd like to see how this company collects on debts when they don't have any leverage such as it being illegal to garnish wages or being illegal to repo something like an alarm system. Its not much help to create a resume when the debtor has a job already. I've heard collectors recommend donating blood for money to pay their bills. That's also helping the customer.
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Guest: Tony Corleone (1490 days ago)
Breaking their legs is quicker and more fun.
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Breaking their legs is quicker and more fun.
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