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Would You Like to Be a Debt Collector?

Recruitment Video For Debt Collectors

This recruiting video for a major banks debt collection department is very interesting if you listen closely to the words. I’d suggest that you even consider watching it with your eyes closed.

I think you’ll find the video a very interesting approach to try to put a positive spin on what can be a very difficult profession.

Some highlights:

  • “Go home feeling like you made a difference”
  • “Setting up payment schedules to help them get back on track and protect their credit rating.”
  • “For noting purposes do you mind if I ask how you fell a little behind?” Noting purposes?
  • “You’ll be tracking and documenting everything you do.”
  • “Training will be fast paced and intense.”
  • “If you enjoy interacting with people this may be the job for you.”
  • “Constantly on the phone taking calls.”
  • “You should contact consumer credit counseling.”
  • “You can give me not just bank related information but also give them personal advice.” Really!!

I don’t harbor any ill will against most debt collectors. They are just people trying to earn an income and care for themselves and their families. The tragedy of the debt collection representatives for the major credit card companies and banks is that they are simply implementing the policies and procedures of the bank and don’t have the tools to treat people as individuals.

In this video you will actually hear a collector say to a customer that is offering a 50% debt settlement that he can’t help and when the caller says that he might just as well go bankrupt, the debt collector really doesn’t care.

[flash http://getoutofdebt.org/wp-content/uploads/collections.flv]

If you can’t see the video online, click here.

Would You Like to Be a Debt Collector? by

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • What an idiot.

    Yes, because people who are thousands and hundreds of thousands of dollars in debt with no intention on paying should be treated like family. We should care so much for these people who can’t balance their own income and so instead they take money and never return it to whom it is owed. Please, recommend that people feel more sympathy for those that are helping to ruin our economy by stealing from the government and other people. And while you’re at it, can I borrow $100 from you? I promise I’ll pay it back…. never.

  • rick

    YES!!!!!!! “What bothers me the most is that what a lot of people do not understand is that they legitimately owe these debts”……My favorite , when debtor say ” I don’t have these fund, what do you want me to do?…..rob a bank ? Some time i feel like saying you already did that once by taking out a loan and had no intention on paying it back!

  • Michael

    As with any profession there are those that are better suited for the position then others. That being said I am a Debt Collector. What bothers me the most is that what a lot of people do not understand is that they legitimately owe these debts. If you sign a contract that states that upon default of your minimal monthly payments then balance is due in full, along with any applicable fees and interest. Everyone will always say, well they are over charging interest, but they never say that when they read the contract at the time that the client extends them the credit. Most things you hear are ” I didn’t read the contract”, and well, as the old adage goes, buyer beware. The other thing that is heard now a days is “the bank got their bail out, let them pay”. Well lets say you owe ABC Bank, a small bank that had nothing to do with a bail out, do you think that you do not owe them? I just think that if more people took responsibility for their own debt we would not be in the position we are in now in this economy, which, ironically is another excuse.

    • rick

      YES!!!!!!! “What bothers me the most is that what a lot of people do not understand is that they legitimately owe these debts”……My favorite , when debtor say ” I don’t have these fund, what do you want me to do?…..rob a bank ? Some time i feel like saying you already did that once by taking out a loan and had no intention on paying it back!

  • Michael

    As with any profession there are those that are better suited for the position then others. That being said I am a Debt Collector. What bothers me the most is that what a lot of people do not understand is that they legitimately owe these debts. If you sign a contract that states that upon default of your minimal monthly payments then balance is due in full, along with any applicable fees and interest. Everyone will always say, well they are over charging interest, but they never say that when they read the contract at the time that the client extends them the credit. Most things you hear are ” I didn’t read the contract”, and well, as the old adage goes, buyer beware. The other thing that is heard now a days is “the bank got their bail out, let them pay”. Well lets say you owe ABC Bank, a small bank that had nothing to do with a bail out, do you think that you do not owe them? I just think that if more people took responsibility for their own debt we would not be in the position we are in now in this economy, which, ironically is another excuse.

  • MRROCK

    A.C.E. COLLECTING IS WHAT I LIKE TO CALL IT.. ATTITUDE/COMPETENCE/EMPATHY(NOT SYMPATHY.
    1) TEMPARMENT AND ABILITY TO DIGEST FAILURES (NO INNOVATION IS POSSICE UNLESS A PERSON IS WILLING TO ACCEPT MISTAKES)
    2) NEVER WORRY ABOUT THE THINGS YOU CANT DO ANYTHING ABOUT. CONCENTRATE ON THE POSSIBILITIES.
    3) BE HONEST WITH YOURSELF AND LEARN FROM YOUR SELF.

  • http://blackpearlthebook.com Alvin Grimes

    Dear Steve:
    I was recently hired as a debt collector. My company purchases charged off debt and some of these accounts can be over 20 years old. I’ve been working in phone rooms for over 15 yrs, doing everything from sales, fund raising, customer service and inbound collections.

    I understand the concept of “smilin and dialin” but I seem to be taking a beating. I believe that my problem is relating to the debtor too much. I’ve had my problmes in the past and was very serious when I would tell collectors that I didn’t have the money to pay at that time. Now that the shoe is on the other foot, what do I do to alter my way of thinking? Any books, tips, techniques that you could suggest would be greatly appreciated.

    • http://GetOutOfDebt.org Steve Rhode

      Alvin,

      I’m probably not the right guy to answer this for you but the collectors that impress me the most are those that approach it as a profession and act professionally. You raise an interesting question and one that I will investigate further in a future article.

      Steve

    • MRROCK

      A.C.E. COLLECTING IS WHAT I LIKE TO CALL IT.. ATTITUDE/COMPETENCE/EMPATHY(NOT SYMPATHY.
      1) TEMPARMENT AND ABILITY TO DIGEST FAILURES (NO INNOVATION IS POSSICE UNLESS A PERSON IS WILLING TO ACCEPT MISTAKES)
      2) NEVER WORRY ABOUT THE THINGS YOU CANT DO ANYTHING ABOUT. CONCENTRATE ON THE POSSIBILITIES.
      3) BE HONEST WITH YOURSELF AND LEARN FROM YOUR SELF.

  • Darin

    I have recently done alot of reading since coming into my newly found profession.

    “THe underlying problem here is that good debt collectors don’t make bad debt collectors look good. Bad debt collectors make good debt collectors look bad.” I could’nt have said it better myself.

    I have only been in collections for roughly 4 months, and have to admit when I first started, my heart would race with ever ring of the phone in fear of how I was going to tell this person they needed to make this debt a top priority on there to do list. But after some time I have come to learn alot of things.

    1. Not all collectors are bad collectors.

    2. Most debt collectors are willing to assist debtors in resolving current debts in any way possible. Be up front when collectors call you, avoidence only makes a bad situation worst.

    3. Debtors are ashamed and embarrassed of there debts and current situation. Therefore makeing it extremely difficult to have a decent, honest conversation with a debtor

    4. There are alot of under trained collectors in the profession, making it difficult for collectors to even make contact with a live debtor and make them aware of several options available to resolve their debt.

    5. Last but not least, on a daily basis I hear the bill wasnt that high when this matter charged off!!!! But my problem with that response is this, you applied for a line of credit and in that contract you signed it clearly states the consequences of an account going delinquent. Plus you were aware of the intrest rates you were willing to pay if you borrowed more than you could pay.

    • http://GetOutOfDebt.org Steve Rhode

      Darin,

      Thank you for your remarks.

      Your 5 is a bit of a slippery slope. Believe me, I get the point and have made it many times myself. But the fact is this is a two sided problem. Credit companies are forever selling credit as easy, painless, and so simple to get and leaving all the other stuff in the very fine print. We can’t simply say that because someone bought into the marketing message like that of the Bank of America CleanSweep offer for example that they were not unfairly encouraged to take out credit.

      There exists an incorrect belief that if someone could not afford the credit the offer would not have been made to them. And people still think their local banker or business is looking out for their best interests, not selling financial products to reach a quota.

      It sounds like you’ve got your heart in the right place and getting a call from you would be helpful.

      Steve

  • http://liverealnow.net Jason

    Absolutely true. I think lawyers and politicians have better reputations than debt collectors, as a profession.

    Part of the problem is that collectors only deal with people when they are at their worst, financially. That creates negative associations, no matter how good the collector may be.
    .-= Jason´s last blog ..10 Things to do on a Cheap Vacation. =-.

    • http://GetOutOfDebt.org Steve Rhode

      Jason,

      I have known nice debt collectors. When I went through my troubles one of the debt collectors trying to collect from me and I became close. He actually helped me latter when I started helping people in trouble. Even though he was a nice guy, I have no idea what is collection performance was. For all I know he was written up for spending too much time on the phone with individual consumers. Something I’ve seen before.

      In a way you were lucky. With student loan debt you had a huge club to wield if someone did not want to play nice. And I rarely hear complaints about student loan debt collectors. It’s the ones without the big stick that try to elicit compliance with fear and intimation. I’ve still never met a debt collector that encouraged someone to pay by taking them out to dinner. :-)

      And on your point about screaming and cursing at the collector, I agree that’s neither necessary or productive. I would much rather see people channel their rage into action that addresses the situation than just yell at the messenger.

      Steve

  • Eric

    RE: Jason,

    Your last statement about how debt collectors didn’t cause the debt is fine, but in some cases, neither did the debtor. Sometimes “life” happens. Sometimes there’s nothing that can be done about it. Why doesn’t anyone blame the credit card companies who offer kids just out of high school five thousand dollar credit lines when they’re still stocking bottles for minimum wage? This is what happened to me back in 2000. I’m 28 and still dealing with my mistake. It may be beyond the statute of limitations, but the calls still come, regardless of the fact that I’m in a different state, have different phone number and so forth.

    But it doesn’t matter, because it’s all about maximizing profits, regardless of who it hurts.

    • http://GetOutOfDebt.org Steve Rhode

      Eric,

      Just in case you did not realize it, a debt can be attempted to be collected until the end of time, the statute of limitations does not prevent that.

      Steve

  • http://liverealnow.net Jason

    I worked my way through college collecting on defaulted student loans. It’s not that bad of a job.

    A couple of things you learn as a debt collector: Debtors lie. Professional debtors lie constantly.

    If you’re in collections, swearing and hanging up won’t make the collector go away. If you’ve defaulted on a federally guaranteed student loan, NOTHING will make it go away and the lender will refer you to the collection agency.

    Debt is a lousy situation to be in. I know this from a few different angles. Debt collectors may not always be nice, but they didn’t cause the debt, either.
    .-= Jason´s last blog ..10 Things to do on a Cheap Vacation. =-.

    • http://GetOutOfDebt.org Steve Rhode

      Jason,

      All good points.

      THe underlying problem here is that good debt collectors don’t make bad debt collectors look good. Bad debt collectors make good debt collectors look bad.

      Steve

  • Eric

    This explains a lot. I was interested in seeing this because of a scam the company CRA is running on me. Luckily they haven’t gotten any money. They’re corrupt. Interested to see how Citibank has to manipulate the fact to get people to apply for such a dishonest position.

    And Tommy is right, that collector could have cared less about the guy being forced to declare bankruptcy and their insinuation that the client is “lying” really angered me.

  • Tommy

    “In this video you will actually hear a collector say to a customer that is offering a 50% debt settlement that he can’t help and when the caller says that he might just as well go bankrupt, the debt collector really doesn’t care.”

    Your a idiot…he told him he couldnt do anything at the time and offered Credit Counseling. Were you paying attention

  • http://www.conomize.com Conomize Community

    I think I would rather be a dentist. Or a physical therapist. Or any other job than a debt collector.

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