Re: Companies are Greedy and Predatory, not people (SKB)

Posted by Drew (24.59.27.46) on January 04, 2004 at 23:20:59:

In Reply to: Re: Companies are Greedy and Predatory, not people (SKB) posted by SunkissedBeach on January 04, 2004 at 19:06:00:

Maybe you should. I will ask them the question that I asked over at the collection board about you, that obviously got to you. LOL. I would also like to ask another series of questions from them if you don't mind.

You see I do read and research and these are the few facts that I have discovered about the collection agencies and how they work.

They are a business. If they are assigned by original creditor, they are on an assignment basis and they have to be able to produce a certain percentage of accounts in a certain period of time...example, they got to be able to collect on % accounts in one month. They may be only given a couple of months to work an account because of the fact that each month after chargeoff, the value of the account goes down. In other words, the chances of them collecting go down and the relative resale of the value of the account. If the original creditor can't collect on first or second placement, the resale value drops dramatically.

Second thing that I learned is that new collectors for the purpose of this board safe to say having less than one year experience (you claimed you have only been working collections three months, therefore you are a newbie), have very little authority to make any kind of decisions about the fate of the account without the authority of the supervisor.

Does your supervisor know that you have a habit of falling for sobstories from elderly people, disabled people, etc, or extreme hardship luck stories, and tucking them neatly away in your accounts to be worked when they are not producing so you can protect them from some of the more harsher collectors in your office. DIdn't you say that?

From what I have read on this board and on the many other finance boards I go to, if an account does not produce with the inexperienced collector, it is supposed to go back in the pool for the more experienced collectors and the efforts are speeded up. That is when you start getting the numerous calls. They don't care. They are not charity groups and they don't cut you any slack. But you said you wanted to spare certain debtors some pain. What empirical and objective evidence do you have for deciding who goes in your "I will give you a break today" box? Have you seen any outside corroborating evidence to back up the debtors claims? Or does your gut instinct tell you he is a good candidate for your pool?

You see, many of the collectors (experienced ones) really do believe debtors are really good liars and conmen. That they will tell you what they want you to hear. How would it look to them that you think so little of your peers that you would protect opportunities for the company to realize its financial goals. You are actually aiding and abetting and sheltering a debtor who told you that they could not pay because you beleived their story.

Yes bring your bosses over here. I would be very interested to hear what they think about charity cases in the debt business.

That will be a new concept for me.

Bring them over.

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