FTC reports are old news. We see numbers all the time. But, let's pause and just think for a minute.
140,000 FDCPA complaints.
How mad does a consumer have to get to complain to the FTC? Would you? What would it take?
The FTC gets so many complaints against agencies and creditors they set up an easy to fill in website for consumers.
Yes, yes. I agree that there are millions of debtor consumers and we make millions upon millions of contacts. So, let's debate this a bit. The #7 category for most FTC complaints is Internet sales at 56,000. Seems to me that WAY more people shop on the internet than refuse to pay their bills. So, apples to apples, wouldn't internet sales be higher than FDCPA complaints?
I'm advocating using collection tactics that work. Direct, to the point communication. A good firm demand for payment. Listening to the consumer and solving problems. Hitting your numbers without bludgeoning the consumer into defending themselves the only way they know how.
We've created a cottage industry of lawyers suing collectors, we supply 22% of the FTC's business. This collateral work and expense defending ourselves could be better spent collecting more money.
I owned a collection agency for 17 years. I was sued three times. When we were wrong, we settled. When we were right we defended ourselves.
I'm championing strong collection efforts balanced with compassion for consumers in the ever worsening economy. We did it for years. It's very profitable. I can show you how.My website
How about we take a payment plan today rather than threaten somebody with arrest?
Tell me I'm wrong!
Tuesday, October 25, 2011
Monday, October 17, 2011
Reader's Digest... READER'S DIGEST!
Yes, that's right. Reader's Digest just had an article called "13 Things a Debt Collector Won't Tell You".
How much more into the sunlight can you get? A magazine my grandmother used to read. The last place to find a clean, non political joke. Consumers overwhelmed debt collectors are so mainstream Readers's Digest does a piece on us. Now that everybody is late paying somebody, now that bragging about your "free rent" during foreclosure is common place; its time to straighten up and fly right.
Consumer abuses are out for anyone to hear. If the public is getting advice on FDCPA violations, maybe its time we stop creating them!
Can you do this job straight and by the book? You bet! I collected a lot of money over the years treating consumers with respect and dignity. Not to say we didn't go R&R (an argument that went nowhere) or heard one too many "HLS" (hard luck story). Not to say I'm not a little cynical after 30 years in the trenches.
But what I am saying is the law is the MINIMUM requirement. Good business practices go far beyond adhering to the law. The components of an excellent collection agency are superior training, hiring the smartest people you can find, paying fairly, and treating employees like gold.
Smart, happy, motivated, trained collectors simply know what is truthful and legal. They also earn you the most revenue. If you want some "secret sauce" or to tell me I'm wrong, just post your comments!
Readers's Digest? REALLY?
http://www.rd.com/slideshows/13-things-a-debt-collector-wont-tell-you/
How much more into the sunlight can you get? A magazine my grandmother used to read. The last place to find a clean, non political joke. Consumers overwhelmed debt collectors are so mainstream Readers's Digest does a piece on us. Now that everybody is late paying somebody, now that bragging about your "free rent" during foreclosure is common place; its time to straighten up and fly right.
Consumer abuses are out for anyone to hear. If the public is getting advice on FDCPA violations, maybe its time we stop creating them!
Can you do this job straight and by the book? You bet! I collected a lot of money over the years treating consumers with respect and dignity. Not to say we didn't go R&R (an argument that went nowhere) or heard one too many "HLS" (hard luck story). Not to say I'm not a little cynical after 30 years in the trenches.
But what I am saying is the law is the MINIMUM requirement. Good business practices go far beyond adhering to the law. The components of an excellent collection agency are superior training, hiring the smartest people you can find, paying fairly, and treating employees like gold.
Smart, happy, motivated, trained collectors simply know what is truthful and legal. They also earn you the most revenue. If you want some "secret sauce" or to tell me I'm wrong, just post your comments!
Readers's Digest? REALLY?
http://www.rd.com/slideshows/13-things-a-debt-collector-wont-tell-you/
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