Ask a Bill Collector

[i_wanna_les_paul]

What's the biggest problem you see people get into (as in, why you can stay in business)?

What area constitutes the biggest part of your collections (auto payments, mortgages, credit card, utility, etc.)

These may be dumb questions, but I really know nothing about it.

[Les Izzmor]

What's the most creative excuse you ever heard as to why somebody couldn't pay their bills?

[Grant Sharkey]

What regulations or regulators are you answerable to? Is there a 'bill collector's oath' for example.

[Jugghaid]

What's the biggest problem you see people get into (as in, why you can stay in business)?


Fiscal irresponsibility. Most of the people I deal with are in the situation due to poor planning. they have zero savings and live right up to (and in many cases beyond) their income. They don't understand that if something happens (like getting laid off) they still have bills to pay. Poor planning = poor results. Also just plain overspending. having to keep up with the Joneses.



What area constitutes the biggest part of your collections (auto payments, mortgages, credit card, utility, etc.)[quote]

Currently, retail credit and credit cards. Visa Mastercard, Retail cards like nordstroms, best buy, and quite a few recreational accounts like Yamaha Polaris, suzuki, etc. ATV's Motorcycles, etc. In the past though, I've collected on everything from medical bills to credit cards to mortgages, auto loans, cell phone bills, commercial loans, trash bills, even mortuary accounts :right:

[quote]
These may be dumb questions, but I really know nothing about it.

No such thing.

[Jugghaid]

What's the most creative excuse you ever heard as to why somebody couldn't pay their bills?

This is a long one. Had a lady in Detroit that owed my client about $12k on her credit card. First she tried to tell me she couldn't pay the bill because her father died. I asked her how that affected her. she said she inherited money from him but had to split it with her soblings. I pointed out that this would constitute an INCREASE in how much money she had so why didn't she pay her bill for the last 8 months? Then she changed her story.

She told me that she couldn't pay because her next door neighbor was kidnapped. I asked her if she paid the ransom.....obviously the answer was no, so after sorting that out for 10 minutes or so we went on to yet another excuse.

She told me that she had put a check in the mail several times but every time she did so the gangs in her neighborhood bloew up her mailbox with home made explosives. she told me she was even on the cover of USA today because of this. :smack:

First rule of collections....debtors lie. :D

[Les Izzmor]

She told me that she had put a check in the mail several times but every time she did so the gangs in her neighborhood bloew up her mailbox with home made explosives. she told me she was even on the cover of USA today because of this. :smack:



That's awesome. She sould write for CSI. :D

[Jugghaid]

What regulations or regulators are you answerable to? Is there a 'bill collector's oath' for example.

All 3rd party debt collector in the US are governed by the Federal Trade Commission. They are also subject to and have to remain in compliance with the Fair Debt Collection Practices Act passed under the Carter Aministration. We also have to answer to various state agencies, particularly the Attorney general's office in each state. Some states require licensing of collectors, some registration, and some are "open border" states that don't require and of these. Also each state has their own version of the Fair Debt Collection Practices Act. We have to follow whichever law is more restrictive, the state or Federal Law. For example, in Massachussetts, it is the only state where it is illegal to discuss a bill with the spouse unless their name is also on the account. Otherwise it constitutes 3rd party disclosure....a big no-no. Kind of like calling your employer and telling them you owe $5000 on your Visa bill. Very illegal.

[Jugghaid]

That's awesome. She sould write for CSI. :D

I actually had to hang up on her because I was laughing so hard :D

[Grant Sharkey]

All 3rd party debt collector in the US are governed by the Federal Trade Commission. They are also subject to and have to remain in compliance with the Fair Debt Collection Practices Act passed under the Carter Aministration. We also have to answer to various state agencies, particularly the Attorney general's office in each state. Some states require licensing of collectors, some registration, and some are "open border" states that don't require and of these. Also each state has their own version of the Fair Debt Collection Practices Act. We have to follow whichever law is more restrictive, the state or Federal Law. For example, in Massachussetts, it is the only state where it is illegal to discuss a bill with the spouse unless their name is also on the account. Otherwise it constitutes 3rd party disclosure....a big no-no. Kind of like calling your employer and telling them you owe $5000 on your Visa bill. Very illegal.

Thanks. That leads to another question:

When collecting from someone who has changed states from where the initial credit agreement (for example) was made, which state's laws are in effect on you or them?

[Jugghaid]

Thanks. That leads to another question:

When collecting from someone who has changed states from where the initial credit agreement (for example) was made, which state's laws are in effect on you or them?

The state they currently reside in and that you are contacting them in. However, if I have them sued on the account I can do what is known as a "Longarm" lawsuit. I can request that the case be venued by contract which means that if someone signed a contract in Los Angeles and moved to Huntsville, Alabama, I can serve them to apprear in court in Los Angeles County and sue them there. If they don't show up I win by default. Then I can domesticcate the Judgment to Alabama and attach their assets there (wages, property, bank accounts, etc). I generally just sued them where they currently resided unless there was a problem with the venue.

[Grant Sharkey]

The state they currently reside in and that you are contacting them in. However, if I have them sued on the account I can do what is known as a "Longarm" lawsuit. I can request that the case be venued by contract which means that if someone signed a contract in Los Angeles and moved to Huntsville, Alabama, I can serve them to apprear in court in Los Angeles County and sue them there. If they don't show up I win by default. Then I can domesticcate the Judgment to Alabama and attach their assets there (wages, property, bank accounts, etc). I generally just sued them where they currently resided unless there was a problem with the venue.

Thanks again. Interesting job you have! :)

[Jugghaid]

Thanks again. Interesting job you have! :)

Keeps me busy. :D

[Low Tone]

This is a long one. Had a lady in Detroit that owed my client about $12k on her credit card. First she tried to tell me she couldn't pay the bill because her father died. I asked her how that affected her. she said she inherited money from him but had to split it with her soblings. I pointed out that this would constitute an INCREASE in how much money she had so why didn't she pay her bill for the last 8 months? Then she changed her story.

She told me that she couldn't pay because her next door neighbor was kidnapped. I asked her if she paid the ransom.....obviously the answer was no, so after sorting that out for 10 minutes or so we went on to yet another excuse.

She told me that she had put a check in the mail several times but every time she did so the gangs in her neighborhood bloew up her mailbox with home made explosives. she told me she was even on the cover of USA today because of this. :smack:

First rule of collections....debtors lie. :D

Sounds to me like there's either some mental instability going on there or she's a really lousy liar. Perhaps a bit of both.

[Jugghaid]

Sounds to me like there's either some mental instability going on there or she's a really lousy liar. Perhaps a bit of both.

I've heard it all bro. Seriously. I've called people at work and had them tell me they are unemployed. :D

[Low Tone]

I've heard it all bro. Seriously. I've called people at work and had them tell me they are unemployed. :D

:rofl:

We have one girl at work who gets so many calls from bill collectors that our phone wouldn't quit ringing for awhile. She transfered departments so I started telling them that she no longer works there. I haven't gotten a call for her in over two months now.

Of course if her deadbeat husband would get a job, they might not have so many bill collectors after her......

[basshunter]

she said she inherited money from him but had to split it with her soblings.

I don't know if this was a typo or not, but seriously, water just shot out my nose and all over the keyboard! :D

[Les Izzmor]

Here's another one.

Hypothetically speaking. Let's say somebody has their bass stolen. For this example we'll pick a brand at random. Let's just say it was a Zon.

And. Let's say a couple of weeks later they see their hypothetical stolen Zon on ebay.

What could you do?


:D

[Jugghaid]

I don't know if this was a typo or not, but seriously, water just shot out my nose and all over the keyboard! :D

Oops. :D

[Jugghaid]

Here's another one.

Hypothetically speaking. Let's say somebody has their bass stolen. For this example we'll pick a brand at random. Let's just say it was a Zon.

And. Let's say a couple of weeks later they see their hypothetical stolen Zon on ebay.

What could you do?


:D

:D


Get it back of course. :D

[ironfist]

Have you ever felt sorry for a debtor, or are they all pretty much douchebags?

What do you tell a creditor when you can't collect on a debt? Let's say the debtor filed bankruptcy, died, or already has his/her wages garnished to the max with no assets? Do you just say "sorry man, you're screwed"?

[tim the enchanter]

does Bill know about this?

[lug]

Why do you keep calling my house yet never want to talk shop about basses and such? :confused:

[Jugghaid]

Have you ever felt sorry for a debtor, or are they all pretty much douchebags?

Yup. Especially when I was working medical debt. That's not something that they did willingly or stupidly (at least in most cases). And people who ha ve experienced a realy hardship, I will work with them to get it resolved. The guy who's watching the 73" big screen that he hasn't paid for - fuck him. And I get in a lot of confrontations, but as you guys know, that's really not a problem for me. People simply don't like having some guy they don't know tell them what they need to do. It's a naturally adversarial position that we are in. And I tell people this:

It's nothing personal, but you owe my client a substantial amount of money and they are done asking you to pay. They are demanding payment or demanding that I handle it for you and have you served to appear in court where, after securing a judgment, they can simply take the money without your cooperation nor your consent. They can attach your wages, lien your property, levy your bank accounts etc.

I tell them I understand that it's a difficult position to have some guy I don't know on the other end of the phone making financial decisions for me that will affect my finances for the next 7-10 years. That's why I give them the opportunity to do the right thing. I treat it as more of a courtesy call than anything. I'm allowing them the opportunity to have some input into the decision I am going to make.



What do you tell a creditor when you can't collect on a debt? Let's say the debtor filed bankruptcy, died, or already has his/her wages garnished to the max with no assets? Do you just say "sorry man, you're screwed"?

Happens all the time. In fact a very large percentage of the time they expect it. Generally if you are doing really well, you will collect about 10-15% of a portfolio over 6 months. My guys do about double that, but they are exceptional. So therefore, 80% of the time you aren't going to collect the debt roughly speaking. Thhng is, buyers of debt and creditors know this.

For example. Let's say Chase has a 3% deliquency rate. All they do is raise the average interest rates on their products by 3% to cover that. We, the consumer, end up paying for it. Actually a lot of what bill collectors do results in keeping credit card interest rates down. If we get 20% of that 3% collected, then after fees etc the credit card company recovers and additional 0.5% That will directly affect the rates they offer to their customers. Accounts closed due to bankruptcy also get them a tax break to write off as a loss. they will also sell of large debt portfolios to cover losses as well. Selling $100 million a month is peanuts to these guys at 10%. of the portfolio's receivable worth. most major banks sell of billions of dollars a moonth in bad debt.

Now if someone is purchasing debt, what happens is this. They buy a portfolio of debt from the banks (which they have charged off as bad debt) for let's say $.10 on the dollar. As a typical example let's say they purchase $20 million in debt. So they have spent $2 million buying the portfolio. They place the debt with us at a 25% contingency rate.

Now let's say my guys have their typical performance and collect 20% of the portfolio over 6 months. That equates to $4 million. Our fee is $1 million. That's 3 million remitted back to the debt purchaser. They then pull the portfolio (all non paying accounts) and sell the protfolio as a second placement for somewhere in the neighborhood of $0.05 on the dollar. Taking out roughtly 30% of the accounts (to account for paid and paying accounts and bankruptcies, deceased, etc) they have 70% of the inventory left to sell. That would be $14 million in debt at $.05 or $700,000.

Now as you can see, they have grossed $3,700,000 off a $2 million investment. That's a gross profit of $1,700,000. After you account for all of their overhead and the cost of money to purchase the debt (interest, paying off investors etc) they generally make a pretty damn nice profit. On something like this I would estimate roughly a $800,000 profit when all is said and done.

Now if I only pulled a 10% liquidation rate for them instead of the typical 20% my guys do, then their revenue drops by over 1 million ($2.25 million gross profit) and instead of making a huge profit, they have now probably taken a loss after their overhead or close to it depending on how lean they run. At 15% their gross profit is roughly $3 million and they are on easy street. A 1% swing in liquidation rates can mean the difference between making a ton of cash and going out of business for the debt buyer.

That's why my performance is so important. Also keep in mind #s like this are typical for MONTHLY placements. Sometimes even weekly depending on the client.

[Jugghaid]

Why do you keep calling my house yet never want to talk shop about basses and such? :confused:

I'm calling for Mrs. Lug. :D

[King Kashue]

Is there ever any way to get Student Loan companies to reduce your debt in exchange for a more immediate payment/some other arrangement beneficial to them?

I've done this with other creditors, but everyone I've ever talked to says Student loans are the one thing that just stays where it is...

[brake]

Is there ever any way to get Student Loan companies to reduce your debt in exchange for a more immediate payment/some other arrangement beneficial to them?

I've done this with other creditors, but everyone I've ever talked to says Student loans are the one thing that just stays where it is...


I've been wondering that as well.. ie: if I were to raise the money I owe the vultures, could I just write them a check and tell them to fuck off?

[lug]

I'm calling for Mrs. Lug. :D

It's a package deal, you get the kids too!





NO TAKEY BACKY'S!







.....flees country

[Jugghaid]

Is there ever any way to get Student Loan companies to reduce your debt in exchange for a more immediate payment/some other arrangement beneficial to them?

I've done this with other creditors, but everyone I've ever talked to says Student loans are the one thing that just stays where it is...

I have done that before, for a friend of mine. they aren't nearly as likely to want to settle for a lesser amount for a number of reasons.

1. On a government guaranteed student loan, there is no statute of limitations. They can come after you 25 years later if they want.

2. They can garnishee your wages without suing you at the rate of 10% of your wages. They don't have to ask and they don't have to even tell you if you are delinquent.

3. Got an income tax refund coming....not any more if they decide to attach it.

4. They are not dischargeable through bankruptcy.


Now having said that, I have had some success with doing this. Generally these are on older loans where they just want it close dout. Or they are on loans that have been sold, much like credit card debt is sold. Sallie Mae and others do this as well. If a different party purchases the loan, then you have a lot better shot at settlling it out. However, this isn't gonna happen if you are current with your loans. You would have to be seriously delinquent.

It's very rare that they will accept any offer in compromise. You have to have some leverage. i used my friends plans to "permanently move out of the country" to get it done.

[Jugghaid]

It's a package deal, you get the kids too!





NO TAKEY BACKY'S!







.....flees country

I need more workers.

[i_wanna_les_paul]

Wow. I'm very glad I only have government direct student loans. :eek:

[lug]

I need more workers.

http://landolove.com/random/cletus.jpg

Yeah, good luck with that.

[Jugghaid]

http://landolove.com/random/cletus.jpg

Yeah, good luck with that.

http://www.sigsauer.com/images/catalog/product/556-swat-detail-right.jpg
;)

[lug]

http://www.sigsauer.com/images/catalog/product/556-swat-detail-right.jpg
;)


No child support.....COOL!

[Low Tone]

Here's one.

How many threats have been made on your life/physical well being because of your job? Has anyone actually attempted to carry one out?

[bassment zombie]

(Does best Studs Terkel (http://www.amazon.com/Working-People-Talk-About-What/dp/1565843428/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1205342226&sr=1-1) impression)

Can you describe your typical day?
I'll hang up so I can finish my lunch and read later. :coffee:

[ironfist]

Have you or any one of your employees ever been offered a sexual favor in exchange for debt forgiveness?

[Jugghaid]

Here's one.

How many threats have been made on your life/physical well being because of your job? Has anyone actually attempted to carry one out?

Threats? More than I can count. Probably an average of at least 2 a week for the last 15-20 years.

Actual attempts....I've had a handful (maybe a dozen) people come into my offices over the years with the intent to cause bodily harm. They have all left either beaten bloody or in handcuffs. Mostly both. no one who has ever come in with a gun or anything though. They would leave in even worse shape. For some reason my industry attracts veterans. ;)

[Jugghaid]

Have you or any one of your employees ever been offered a sexual favor in exchange for debt forgiveness?

Many times. Never took anyone up on it personally, but I do know a few people who have. Their debts didn't really go away either. :badidea:

[Jugghaid]

(Does best Studs Terkel (http://www.amazon.com/Working-People-Talk-About-What/dp/1565843428/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1205342226&sr=1-1) impression)

Can you describe your typical day?
I'll hang up so I can finish my lunch and read later. :coffee:

Wow, this could take a bit. Let me get back to you, I just got out of a meeting.

also, my day as an agency owner/manager or a collectors day?

[ironfist]

Many times. Never took anyone up on it personally, but I do know a few people who have. Their debts didn't really go away either. :badidea:

Can you elaborate? :D

[bassment zombie]

Wow, this could take a bit. Let me get back to you, I just got out of a meeting.

also, my day as an agency owner/manager or a collectors day?
It'd be great to hear/read both; when you have the time, of course. :)

[Drippin' Robin]

Many times. Never took anyone up on it personally, but I do know a few people who have. Their debts didn't really go away either. :badidea:

Can you elaborate? :D

(imagines a conversation)

*debt collector lights a cigarette after getting jiggy with a debtor*

"Sooo.... How come you're broke if you're such a whore?"

[mlwarriner]

Has anyone actually attempted to carry one out?

none that are still able to talk about it.


or talk at all for that matter :D:D

[Jugghaid]

(imagines a conversation)

*debt collector lights a cigarette after getting jiggy with a debtor*

"Sooo.... How come you're broke if you're such a whore?"

Actually, your'e right on the money with one instance. First let me say this applies to none of my CURRENT employees. former people I have worked with. They didn't work for me or I would have fired them.

Debtor worked for an escort agency. Working her way through college on her back. Owed $500 for a small bill. Offered to trade "services" to a colleauge of mine at the time to make the bill go away. He took her up on it. Her and her "friend" to be more precise. Then he cancelled the account with a fake bakruptcy filing case #.

Had several other instances that I have seen like this. Keep in mind this is not only wrong, it's illegal as fuck.

[bassmanatlarge]

so let's say a guy's 60 years old...5 years ago he lost everything due to health reasons and a messy divorce...struggled for 5 years trying to get the creditor to work with him to no avail...then he has a stroke and can't brush his own teeth much less create an income...he's sick and tired of the whole fucking thing and can't be bothered talking to you...won't give you the time of day and won't send you any paperworkto prove his situation...hypothetically of course

[Jugghaid]

(Does best Studs Terkel (http://www.amazon.com/Working-People-Talk-About-What/dp/1565843428/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1205342226&sr=1-1) impression)

Can you describe your typical day?
I'll hang up so I can finish my lunch and read later. :coffee:

My day is a typical day in upper management. Meeetings, reports, Analyzing data to pinpoint where we need to improve performance on specific portfolios, etc. Processing legal accounts. Handling everything and putting out fires where needed. I start at 6am or earlier and leave usually after 6pm. I also talk to debtors all day long. one of my strongest beliefs in business is that your eomployees should see that their boss is as good or better than them at their job. I am. Been doing it a long time, and I still enjoy doing it too. So I'll take over talk-offs for my collectors. I'll follow up on people to give them second voices etc.

A collectors day goes pretty much like this: (dpending on the hours they are working that day)

8am: clock in get coffee fuck around for 30 minutes before they actually log in and do any work (j/k :D) Start callin accounts with good phone #s. Between 7am and 10am and between 4pm and 7pm are considered "Prime Time" so collecors want to be doing nothin but calling good phone #s. Not skiptracing. This is the best contact time to reach consumers. They should be able to crank out anywhere from 20-30 accounts per hour, depending on how much contact they have and how long their talk off is when they talk to a consumer.

10am: start skiptracing. This includes asset investigations as well as obtaining location informatio (home address ph# and place of employment0 for consumers. This also includes calling relatives and neighbors to probe for information, landlords, etc leaving messages, verifying assets such as property, employent, what have you. Take a lunch somewhere in the middle there and tihs will go to about 4pm.

4pm; see 8am. same thing prime collections time. hammer the phone.

[Jugghaid]

so let's say a guy's 60 years old...5 years ago he lost everything due to health reasons and a messy divorce...struggled for 5 years trying to get the creditor to work with him to no avail...then he has a stroke and can't brush his own teeth much less create an income...he's sick and tired of the whole fucking thing and can't be bothered talking to you...won't give you the time of day and won't send you any paperworkto prove his situation...hypothetically of course

He should, hypothetically of course, file a chapter 7 bankruptcy and be done with it. He doesn't need the stress.

[82Daion]

Will you still have a song to sing when the razor boy comes and takes your fancy things away?

;)

[bassmanatlarge]

he probably wonders when you'll finally just forget about it and likely laughs in you ear every time he decides to answer your call...hypothetically speaking of course

[Jugghaid]

he probably wonders when you'll finally just forget about it and likely laughs in you ear every time he decides to answer your call...hypothetically speaking of course

:D

See, if they keep calling they are idiots. In m office, the account would be sued (if there was anything to sue for of course) or simply cancelled. Not worth the time to continue calling if someone isn't going to pay you. Of course, I would also know if I did that, some other schmuck down the road will be calling him and getting the same response. :D

[bassmanatlarge]

yeah there's a never ending supply of schmucks out there..he figures your industry would have come out ahead if you just paid the bill yourselves

[Jugghaid]

yeah there's a never ending supply of schmucks out there..he figures your industry would have come out ahead if you just paid the bill yourselves

On stuff under $500 I won't even have the collector call more than twice on it. more money spent in time and energy and phone calls than the bill will generate if it's paid.

[basshunter]

How come I keep getting bills in the mail? Phone, electric, oil, satellite, mortgage. I thought this was the land of the free, why do they want me to pay for this stuff???? :confused:

[Zamfir]

I've heard it all bro. Seriously. I've called people at work and had them tell me they are unemployed. :D

Now *that* is sigworthy... :D:D



I don't know if this was a typo or not, but seriously, water just shot out my nose and all over the keyboard! :D

Ebassist continues to convince me that basshunter has the grossest computer out there, bar none...



Questions:

1. Wouldn't credit card companies get you to collect and still jack their rates up a bit or hold them steady for profit, as best their financial estimates indicate? I mean, Joe Cardholder has little to no idea how you help credit card companies eliminate costs, and I've rarely if ever seen my credit card rates go down. :D

2. More importantly, how exactly could you and your staff affect credit ratings, if at all? That is, how exactly do you interact with Experian (or TransUnion, etc.), and how does that affect the credit rating numbers they or the other rating agencies publish on individuals?

Do you have a sliding scale of credit rating punishment depending on the circumstances of the debtor, or is just a matter of reporting the amount and nature of the debt?


3. Do you collect from firms/enterprises as well as individuals?

Seriously, I'm way curious about this.

[basshunter]

Ebassist continues to convince me that basshunter has the grossest computer out there, bar none...

Nah, we have a cleaning service. ;)

[Zamfir]

GeniusVeep got something right today. He showed me the final version of our new video...

...that was scheduled to be finished in the fall of 2005. :smack:

:rofl: :rofl:



...why do you still talk to him? Doesn't this just encourage him?

[Jugghaid]

Questions:

1. Wouldn't credit card companies get you to collect and still jack their rates up a bit or hold them steady for profit, as best their financial estimates indicate? I mean, Joe Cardholder has little to no idea how you help credit card companies eliminate costs, and I've rarely if ever seen my credit card rates go down. :D

It more affects offers that they put out there. If a credit card company has a bad run of delinquent accounts, then you wil not see them offering 0% for 1 year promotional stuff. it also affects the rate you can get when you apply for the card. Instead of a 2.9% rate it very well by 5.9%. most people won't blink at it because 5.9% is still pretty good. Also remember that most credit card companies have several different products. What they will offer you is based on a sliding scale of your credit history. They just move that slide a little bit so less people qualify for the 1.9% and a few more (we're talking thousands BTW) qualify for the 4.9% instead. They also intentionally offer high interest (21%) credit cards to high risk borrowers. Even with the higher delinquency rate, they still make money. And they also have more debt to "write off" at the end of the year for tax purposes.


2. More importantly, how exactly could you and your staff affect credit ratings, if at all? That is, how exactly do you interact with Experian (or TransUnion, etc.), and how does that affect the credit rating numbers they or the other rating agencies publish on individuals?

Depends. Many agencies report to credit bureaus. If they report it as a collection item, it will lower your credit score significantly. If they report it as a paid collection item, it will still lower it, but not as much. If they sue you and get a judgment, that will og on there under public records and REALLY fuck up your credit for a lot of years. Worse than a bankruptcy actually. The major credit reporting agencies control all of this and the formulas they use are up to them and they don't tell you exactly what the net effect on your FICO score will be for any reported item. The agencies/creditors just report the status of the account to them monthly.



Do you have a sliding scale of credit rating punishment depending on the circumstances of the debtor, or is just a matter of reporting the amount and nature of the debt?


As stated above, the damage done or benefit given for a particular credit reporting item is up to the credit reporting agencies. It's a strange system they have. One of the best things you can do to boost your credit score is to get a gas card. don't ask me why, but it really kicks it up if you stay current. You can have $250k (or $30k....doesn't matter) in credit limits on your cards and have never made a late payment, but if you are carrying a large portion of that limit in debt (say 80%) and are closer to your limits, your credit rating will drop like a stone and cards will start dropping your limit and cutting you off. Even though you have never been late. Your score will probably be lower than a guy with $100k in available credit that is onl carrying $20k and is 30-60 days late on his bills. They look at the risk. If you pay everything off every month and do not have any revolving balances, your score will not be as high as someone who carries a samll amount of debt. the primary reason for this is that the credit card aompanies don't make any money off the guy who pays his bill off entirely every month. They lose money on him.


3. Do you collect from firms/enterprises as well as individuals?

Seriously, I'm way curious about this.

I have, and still do at times. I actually started with commercial accounts. for Sprint. Business high balance accounts. there is no FDCPA regulating debt collectors on commercial business as you are collecting from an entity, not a consumer. I can basically call ll their customers and tell them they don't pay their bills. I can post it online if I wanted to.

Totally different ballgame, and one I really enjoyed. I can jack up anyone from the janitor to the CEO. I actually called Nacchio at home once because Qwest owed my client a few hundred grand for trucks that they built cherry pickers for. Accounts payable kept giving me the run around. Got tired of it, the CFO wouldn't return my calls, nor would the department manager or the comptroller so I had to go a different direction.

I got paid in full within 48 hours.

Did the same thing to the Mayor of Denver at the time for a bill the city owed another of my clients. :D

[Zamfir]

If you pay everything off every month and do not have any revolving balances, your score will not be as high as someone who carries a samll amount of debt. the primary reason for this is that the credit card aompanies don't make any money off the guy who pays his bill off entirely every month. They lose money on him.



That'd be me, albeit with 1-2 payments missed by 1-2 days per card per year. :mad: ;)

I hate debt...


Anyway, thank you for the very, very informative answer! :thumbsup:

[Jugghaid]

That'd be me, albeit with 1-2 payments missed by 1-2 days per card per year. :mad: ;)

I hate debt...


Anyway, thank you for the very, very informative answer! :thumbsup:

Until you are 30 days late, it will not reflect on your credit report.

you are quite welcome.

[mlwarriner]

can you tell me my credit scores?

[Jugghaid]

can you tell me my credit scores?

Legally, no.


However you can request your credit reports with scores for free in most states once a year. you should eally do this anyway to make sure they are accurate.

[Thunderbroom]

I'm sticking it to a former band members with an assist from Juggs.
:thumbsup:

[Low Tone]

Legally, no.

However you can request your credit reports with scores for free in most states once a year. you should eally do this anyway to make sure they are accurate.

Who do we contact to get this?
I've always heard you could do that once a year free of charge but never found anyone who could tell me where to get it done.


Also....
I'll let you have sex with Basshunter if you can eliminate all my medical bills forever.

*gets ready to cancel health insurance*

:D

[JustDave]

Who do we contact to get this?
I've always heard you could do that once a year free of charge but never found anyone who could tell me where to get it done.


Also....
I'll let you have sex with Basshunter if you can eliminate all my medical bills forever.

*gets ready to cancel health insurance*

:D


Just Google "free credit report"

[Low Tone]

Just Google "free credit report"

Every one of those I've done ends up wanting money somehow.
Usually they only give you one credit company's report and then want to charge you to get the other two.

[bill]

Did caller ID hurt your business?

Ever collect from someone you personally know?

[JustDave]

Every one of those I've done ends up wanting money somehow.
Usually they only give you one credit company's report and then want to charge you to get the other two.


This is the one I use. https://www.annualcreditreport.com/cra/index.jsp you get all three reports free once a year. They will charge you $8 for your score though.

[Low Tone]

This is the one I use. https://www.annualcreditreport.com/cra/index.jsp you get all three reports free once a year. They will charge you $8 for your score though.

See?
Free should be free.

[Jugghaid]

I'm sticking it to a former band members with an assist from Juggs.
:thumbsup:

I'm there for ya buddy. :D

[Jugghaid]

Did caller ID hurt your business?

Ever collect from someone you personally know?

Caller ID....yes and no. It hurt a little just due to the fact that between that and privacy manager, calls get screened but we have ways around that and to put the pressure on. It also helped us when someone calls because we don't have good contact #s for them. so we call a relative or neighbor to leave a message for tem. this is completely legal but tends to piss people off. they call in to yell and scream and we trap THEIR phone #. many times their work#. 2 sides to that story. ;)

Collecting from someone I personally know? Many many times. also professional atheletes, actors/actresses and other celebrities. Ton of them. Politicians too. :D

[Jugghaid]

See?
Free should be free.

The report is free. the score is not. They are not required to give you your credit score by law, so of course they will charge you for it. ;)

[Super Bass]

Interesting reading about this. I work at the opposite end of the spectrum to you Juggs. I work in billing. :D So I don't really have to deal with the customer directly most of the time, if I do it's not to talk about paying bills. Our AR dept. deals with that. Unfortunately I have to deal with them.... *mumbles unmentionable words*

Funny you should mention the fact that for only one state you can't speak to the spouse unless mentioned. The way it works here is nationwide under the "Data Protection Act 1988". Basically you can only speak to anyone on the bill, or if they give permission for you to speak to another person you can do that either. But you must have permission to do so. Also they must pass some verification before you can talk openly of the account, outstanding debt. I got to know this when I worked for the state natural gas co. I got soooo much abuse because I couldn't speak to people due to permissions.

Funniest thing was when you got someone ringing up, I'd ask for their cell number. Little did they know that we could search the system using it and find any previous addresses it had been entered in. Found a good few people with huge debt that they had left at previous addresses and had been untrackable to a new address.
Passed 'em straight on to the credit control dept. :D

[Jugghaid]

Awesome. I get a lot of mommy and/or daddy calling to deal with their kids account. I love telling them I can't talk to them without recording getting the debtors permission. they get sooooooooooo pissed.

them: "But she's only 20!!!"

me: "Legally that's an adult ma'am"

them: "I'm her mother I have permission to handle this!!!!"

me: "that may be so, but I don't ma'am.....per federal law I can not disclose any information without your daughters permission."

them: "but I'm her MOTHER!!!!!!"

me; "tell your congressman ma'am, they make the laws, I just have to follow them."

them: This is just NOT RIGHT!!!!!!

me: "Tell you what ma'am, call your daughter at work, let her know to just give me a quick call to give me permission to talk to you about this and I'll be happy to".

them: You're God Damned right I will do exactly that right now!!!!!!!!!!!"



Then they do that, the daughter calls me and I trap the work # and now know where she works for wage garnishment purposes. :D

When mommy does call back to talk to me I already have employment verified and that's one less lie I have to deal with:

them: "she's unemployed" :"she doesn't make any money" "yada yada yada" "she can only afford $50 a month"

me: uhhh....no ma'am, she works for the post office and makes $42,354 per year not counting overtime and night differential and has been there since 2005. If I have my client sue her I can get $882 a month without asking. Tell her to go find my $6000 she owes my client for her Helzberg jewelers account.. :evil2:

[Super Bass]

Awesome. I get a lot of mommy and/or daddy calling to deal with their kids account. I love telling them I can't talk to them without recording getting the debtors permission. they get sooooooooooo pissed.

them: "But she's only 20!!!"

me: "Legally that's an adult ma'am"

them: "I'm her mother I have permission to handle this!!!!"

me: "that may be so, but I don't ma'am.....per federal law I can not disclose any information without your daughters permission."

them: "but I'm her MOTHER!!!!!!"

me; "tell your congressman ma'am, they make the laws, I just have to follow them."

them: This is just NOT RIGHT!!!!!!

me: "Tell you what ma'am, call your daughter at work, let her know to just give me a quick call to give me permission to talk to you about this and I'll be happy to".

them: You're God Damned right I will do exactly that right now!!!!!!!!!!!"



Then they do that, the daughter calls me and I trap the work # and now know where she works for wage garnishment purposes. :D

When mommy does call back to talk to me I already have employment verified and that's one less lie I have to deal with:

them: "she's unemployed" :"she doesn't make any money" "yada yada yada" "she can only afford $50 a month"

me: uhhh....no ma'am, she works for the post office and makes $42,354 per year not counting overtime and night differential and has been there since 2005. If I have my client sue her I can get $882 a month without asking. Tell her to go find my $6000 she owes my client for her Helzberg jewelers account.. :evil2:


:evil2:

Sneaky. :cool:

I used to get family members or friends or even neighbours calling and pretending to be the account holder. It was funny when you caught them out, I used to mess with their heads before I told them I knew they weren't the account holder. :P

[Bogster]

Awesome. I get a lot of mommy and/or daddy calling to deal with their kids account. I love telling them I can't talk to them without recording getting the debtors permission. they get sooooooooooo pissed.

them: "But she's only 20!!!"

me: "Legally that's an adult ma'am"

them: "I'm her mother I have permission to handle this!!!!"

me: "that may be so, but I don't ma'am.....per federal law I can not disclose any information without your daughters permission."

them: "but I'm her MOTHER!!!!!!"

me; "tell your congressman ma'am, they make the laws, I just have to follow them."

them: This is just NOT RIGHT!!!!!!

me: "Tell you what ma'am, call your daughter at work, let her know to just give me a quick call to give me permission to talk to you about this and I'll be happy to".

them: You're God Damned right I will do exactly that right now!!!!!!!!!!!"



Then they do that, the daughter calls me and I trap the work # and now know where she works for wage garnishment purposes. :D

When mommy does call back to talk to me I already have employment verified and that's one less lie I have to deal with:

them: "she's unemployed" :"she doesn't make any money" "yada yada yada" "she can only afford $50 a month"

me: uhhh....no ma'am, she works for the post office and makes $42,354 per year not counting overtime and night differential and has been there since 2005. If I have my client sue her I can get $882 a month without asking. Tell her to go find my $6000 she owes my client for her Helzberg jewelers account.. :evil2:

You, sir, are an evil genius.

[Low Tone]

Doesn't it wear on you after awhile?
I mean, I could take only so much of listening to stupid abusive people like that before I'd snap and crawl into a bottle of Jack Daniels.

On the other hand, I get really sick of collectors calling and harassing me when I'm already sending payments on an account as well.

Or that little escipade with Mrs Tone's former school trying to collect that $2,700 they had orignally refunded back to the loan company. :rolleyes:

[Bogster]

Oh, I have a question...

Due to the uncertain nature of my employment situation....got any openings? :shrug: :(

[MrJoshua]

Oh, I have a question...

Due to the uncertain nature of my employment situation....got any openings? :shrug: :(

I don't think you're mean enough. :(

[Zamfir]

I don't think you're mean enough. :(

I dunno, if Boggy showed up on someone's doorstep and they saw a tall, seemingly grumpy long-haired metalhead wielding a Samick, he'd be pretty intimidating as long as he kept his mouth shut. :confused:

:D:D

[Croissant Seven]

The only question I have is, what is the physical address of the Iowa Student Loan Program offices?

They keep fucking with me and fucking with me over a debt that's not mine, I've "cleared it up" with them a dozen times, but their people keep calling me, sending people to serve subpoenas at 11pm, and sending me notices, sometimes 2 or 3 a DAY.

I just want to pay them a little visit, especially if I can find the guy who has my same name with the middle initial "S" instead of "R". I'll hand deliver that stupid motherfucker.:mad:

:D
C7

[Low Tone]

The only question I have is, what is the physical address of the Iowa Student Loan Program offices?

They keep fucking with me and fucking with me over a debt that's not mine, I've "cleared it up" with them a dozen times, but their people keep calling me, sending people to serve subpoenas at 11pm, and sending me notices, sometimes 2 or 3 a DAY.

I just want to pay them a little visit, especially if I can find the guy who has my same name with the middle initial "S" instead of "R". I'll hand deliver that stupid motherfucker.:mad:

:D
C7

ISLP are evil, evil bastards.
And stupid.

I hope you're keeping a log like we told you to do.
If they're still fucking with you, it's time to get a lawyer.
Also, if they're still fucking with you in person, chances are they are giving your credit rating a good screwing as well.

[King Kashue]

Have you ever found out someone pulled a Gauguin? Got so much in debt they just sold what little they had left and went off to live on some South pacific island or in the Cambodian highlands or something? :D

[ironfist]

Well, Jugghaid did tell the story of the guy got a judgment against him for medical bills and moved to Texas. That's like a different country.

[brake]

Awesome. I get a lot of mommy and/or daddy calling to deal with their kids account. I love telling them I can't talk to them without recording getting the debtors permission. they get sooooooooooo pissed.

them: "But she's only 20!!!"

me: "Legally that's an adult ma'am"

them: "I'm her mother I have permission to handle this!!!!"

me: "that may be so, but I don't ma'am.....per federal law I can not disclose any information without your daughters permission."

them: "but I'm her MOTHER!!!!!!"

me; "tell your congressman ma'am, they make the laws, I just have to follow them."

them: This is just NOT RIGHT!!!!!!

me: "Tell you what ma'am, call your daughter at work, let her know to just give me a quick call to give me permission to talk to you about this and I'll be happy to".

them: You're God Damned right I will do exactly that right now!!!!!!!!!!!"



Then they do that, the daughter calls me and I trap the work # and now know where she works for wage garnishment purposes. :D

When mommy does call back to talk to me I already have employment verified and that's one less lie I have to deal with:

them: "she's unemployed" :"she doesn't make any money" "yada yada yada" "she can only afford $50 a month"

me: uhhh....no ma'am, she works for the post office and makes $42,354 per year not counting overtime and night differential and has been there since 2005. If I have my client sue her I can get $882 a month without asking. Tell her to go find my $6000 she owes my client for her Helzberg jewelers account.. :evil2:



Holy fuck. You have the best job I've ever heard of. How can I get a job like this?

[Jugghaid]

You, sir, are an evil genius.

There's a reason I'm well paid. :D

[Jugghaid]

Doesn't it wear on you after awhile?
I mean, I could take only so much of listening to stupid abusive people like that before I'd snap and crawl into a bottle of Jack Daniels.

Nah. I enjoy the verbal sparring. And the more abusive they get, the calmer and more reasonable I get. :) Don't get me wrong, I can light someone up with the best of them, but that's maybe 1% of the time when I think it's actually going to generate money. My favorite is jacking up attorneys who think they are one step above god because they have a J.D. behind their name. I simply inform them that I have over 200 attorneys directly under my control at all times and they do what I instruct them to do, how I instruct them to do it. And that they are no different.


On the other hand, I get really sick of collectors calling and harassing me when I'm already sending payments on an account as well.


Well, if you set up the arrangement with the agency and they are still calling you they are stupid. That's counter productive. But if they are calling because you are just sending in whatever you want and don't have an agreement with them, then they are simply doing their job. They are under no obligation to accept anything less than the full balance today. If they have made an arrangement with you, always make sure you get it in writing. Cover your ass.


Or that little escipade with Mrs Tone's former school trying to collect that $2,700 they had orignally refunded back to the loan company. :rolleyes:

Yeah....that was just stupid.

[Jugghaid]

Oh, I have a question...

Due to the uncertain nature of my employment situation....got any openings? :shrug: :(

If you had experience, I'd hire you in a heartbeat. I don't know if you have the right personality for the job though. It's definitely not for everyone, that's for sure. When I used to hire rookies, I would put them through a week of training.....laws, talkoffs, skiptracing, etc etc. Generally, once they got out on the floor and started actually doing the job, I would lose 20% by lunch, 50% by the end of the first week and maybe 10% would stick. Out of the ones that stuck maybe 1 in 25 or 30 would get really really good at it. It's a tough gig. If you are in the top 1% in your field, you are still failing 80%+ of the time. Most people can't really deal with that much rejection on a day to day basis, and the ones that can, only a few are REALLY good at the job. You gotta be a cold-hearted prick sometimes.

[Jugghaid]

I don't think you're mean enough. :(

Exactly. The best collectors though aren't really "mean", they are pragmatic, excellent negotiators and world class ametuer psychologists. Gotta be able to read people and get them to do what no one else has been able to.

[Jugghaid]

Have you ever found out someone pulled a Gauguin? Got so much in debt they just sold what little they had left and went off to live on some South pacific island or in the Cambodian highlands or something? :D


Oh yeah. Several. Mostly college kids here on student visas. Run up 6 figure debt them go home.

One that really stands out though:

Had a New York city cop that had A+++++ credit plan his retirement that way. Got a 125% equity loan on his property, paid of all his debt. The credit card companies were so pleased they increased his limits. He proceeded to run up over $400K in credit card debt on about 20 different cards buying loose diamonds. Investment grade. Wrote checks to the credit card companies to pay those balances off. As soon as he had a zero balance he maxed them out again, running up another $400k. The checks bounced obviously, but that took a week or so to hit his bank and by that time he already had done the damage. Sold all the stones and set himself up with almost a million bucks in cash plus whatever he cashed out of his retirement, bailed to Costa Rica. Bought a fishing boat and a nice beach house for about $100k. Told the world to kiss his ass. Told me the same thing when he called me from Costa Rica and told me what he did. I had to laugh. The guy had balls.

[Jugghaid]

Well, Jugghaid did tell the story of the guy got a judgment against him for medical bills and moved to Texas. That's like a different country.

Yes. Yes it is.

[Jugghaid]

Holy fuck. You have the best job I've ever heard of. How can I get a job like this?

Well, Canada is a little different and the laws are as well, but my advice to anyone who really wants to get in the business is to just do it. Most places don't pay that much to start, but once you get into it, if you're really good at it, the money will come. So will the better offers.

My first year in the biz I think I made about $50k. No experience. My base salary was only $1600 a month though. $10 an hour. The rest was bonus/commisiion.

My best year working a file on the phone, no management, I made about $140k. Probably averaged in the $90k range for most of my career. Management, sometimes it was a lot more than that, sometimes actually less but I took the promotions for the experience and knowledge.

Plus the job security is nice. I can move to any city in the country and have a job in 5 minutes making really good cash. Collections isn't going anywhere.

[Jugghaid]

I dunno, if Boggy showed up on someone's doorstep and they saw a tall, seemingly grumpy long-haired metalhead wielding a Samick, he'd be pretty intimidating as long as he kept his mouth shut. :confused:

:D:D

No going to peoples houses and knocking on doors. At least for non-commercial debt. That's been against the law for a long time. There are a few exceptions, like rent-to-own places, but they don't have to play by the same rules we do.

[King Kashue]

Had a New York city cop that had A+++++ credit plan his retirement that way. Got a 125% equity loan on his property, paid of all his debt. The credit card companies were so pleased they increased his limits. He proceeded to run up over $400K in credit card debt on about 20 different cards buying loose diamonds. Investment grade. Wrote checks to the credit card companies to pay those balances off. As soon as he had a zero balance he maxed them out again, running up another $400k. The checks bounced obviously, but that took a week or so to hit his bank and by that time he already had done the damage. Sold all the stones and set himself up with almost a million bucks in cash plus whatever he cashed out of his retirement, bailed to Costa Rica. Bought a fishing boat and a nice beach house for about $100k. Told the world to kiss his ass. Told me the same thing when he called me from Costa Rica and told me what he did. I had to laugh. The guy had balls.

I'm obviously not a fan of criminal activity, but that's not a bad plan :D

[Zamfir]

No going to peoples houses and knocking on doors. At least for non-commercial debt. That's been against the law for a long time. There are a few exceptions, like rent-to-own places, but they don't have to play by the same rules we do.


...why do you hate giving Bogster a chance? :(

[ezstep]

... "tell your congressman ma'am, they make the laws...."


My new catch-phrase.

On stuff under $500 I won't even have the collector call more than twice on it.


Mike, there's a lefty bass on ebay....I mean I have had some ... err ... unexpected medical problems...yeah, that's the ticket. Could you spot me, say $495?

Seriously, very cool. Thanks for a good read.

[Les Izzmor]

If you know how much somebody makes, is there a limit to how much you can garnish their wages?

If there is a limit is it based on a percentage, does each person get a standard amount to keep and the rest goes to the bill collector.

Does that make sense?

[ironfist]

Do you work with repo men/women? Those people have some serious balls. I saw a special about repo men on the Discover Channel a few years ago that was pretty eye-opening. One guy had half of his face blown off from a close-range shotgun blast. It still didn't persuade him to change jobs.

[lug]

. If you are in the top 1% in your field, you are still failing 80%+ of the time. Most people can't really deal with that much rejection on a day to day basis, and the ones that can, only a few are REALLY good at the job. You gotta be a cold-hearted prick sometimes.

Rejection 80% of the time? Fuck that, I'm married. I can handle rejection 99.27% of the time, sign me up!





........................does the "I'm gonna be rich" dance

[MrJoshua]

Rejection 80% of the time? Fuck that, I'm married. I can handle rejection 99.27% of the time, sign me up!





........................does the "I'm gonna be rich" dance

*sends Lug a gentle reminder that he'll still have his wife and Legion of Doom draining his bank account, then runs for the hills*

[lug]

*sends Lug a gentle reminder that he'll still have his wife and Legion of Doom draining his bank account, then runs for the hills*

:mad: Run for the hills...run for your life! :mad:

[Jugghaid]

If you know how much somebody makes, is there a limit to how much you can garnish their wages?

If there is a limit is it based on a percentage, does each person get a standard amount to keep and the rest goes to the bill collector.

Does that make sense?

Federal law stipulates 25% of wages.

Some states have more restrictive laws, such as Pennsylvania, Florida, Texas, South Carolina etc.

[Jugghaid]

Do you work with repo men/women? Those people have some serious balls. I saw a special about repo men on the Discover Channel a few years ago that was pretty eye-opening. One guy had half of his face blown off from a close-range shotgun blast. It still didn't persuade him to change jobs.

I used to. And I just started a new repo program at work, but it's all voluntary repos. But I used to own a repo company many years ago. Rough work for sure, but a good repo guy can make over $1000 a day.

[Zamfir]

I wonder what the actuarial tables for repo guys look like. :D

[Jugghaid]

I wonder what the actuarial tables for repo guys look like. :D

Not good. :D

But boy, do they enjoy the time they are here.:)

[Low Tone]

Well, Canada is a little different and the laws are as well, but my advice to anyone who really wants to get in the business is to just do it. Most places don't pay that much to start, but once you get into it, if you're really good at it, the money will come. So will the better offers.

My first year in the biz I think I made about $50k. No experience. My base salary was only $1600 a month though. $10 an hour. The rest was bonus/commisiion.

My best year working a file on the phone, no management, I made about $140k. Probably averaged in the $90k range for most of my career. Management, sometimes it was a lot more than that, sometimes actually less but I took the promotions for the experience and knowledge.

Plus the job security is nice. I can move to any city in the country and have a job in 5 minutes making really good cash. Collections isn't going anywhere.

He would still be busted if he ever set foot in the States again though, right?
Or is there a statute of limitations?

[Low Tone]

Well, Canada is a little different and the laws are as well, but my advice to anyone who really wants to get in the business is to just do it. Most places don't pay that much to start, but once you get into it, if you're really good at it, the money will come. So will the better offers.

My first year in the biz I think I made about $50k. No experience. My base salary was only $1600 a month though. $10 an hour. The rest was bonus/commisiion.

My best year working a file on the phone, no management, I made about $140k. Probably averaged in the $90k range for most of my career. Management, sometimes it was a lot more than that, sometimes actually less but I took the promotions for the experience and knowledge.

Plus the job security is nice. I can move to any city in the country and have a job in 5 minutes making really good cash. Collections isn't going anywhere.
$50K a year with commissions?
Suddenly those abusive dickweeds I was refering to earlier got a little easier to take..... :badidea:

[Jugghaid]

He would still be busted if he ever set foot in the States again though, right?
Or is there a statute of limitations?

7 years I believe,

[Jugghaid]

$50K a year with commissions?
Suddenly those abusive dickweeds I was refering to earlier got a little easier to take..... :badidea:

If they're good, yes. If they're not they'll probably top out at $30k or so. If they're really good $100k a year is very realistic.

[ironfist]

Have you ever advised someone in a way that may not have been in the best interests of the creditor? For example, let's say you're collecting on medical bills and it's obvious the person doesn't have the ability to pay, assets to seize, or wages to garnish. Have you ever told someone "you should probably just file bankruptcy" even though you knew you could probably still squeeze a few drops out of them if you had to?

[Les Izzmor]

If my band plays at BH's wedding and he doesn't pay us.

Will you track him down for me? :evil2:

[Jugghaid]

Have you ever advised someone in a way that may not have been in the best interests of the creditor? For example, let's say you're collecting on medical bills and it's obvious the person doesn't have the ability to pay, assets to seize, or wages to garnish. Have you ever told someone "you should probably just file bankruptcy" even though you knew you could probably still squeeze a few drops out of them if you had to?

More times than I can count bro.

[Jugghaid]

If my band plays at BH's wedding and he doesn't pay us.

Will you track him down for me? :evil2:

I already know where he is. :D

[ironfist]

More times than I can count bro.

You don't sound like a very heartless bill collector! :mad:

Has anyone ever said anything that really ticked you off? I know you have an amazing ability to let whatever the loudmouth debtors say roll of your back (it's probably a survival skill in your business), but has a boneheaded debtor ever said something that struck a nerve?

[Croissant Seven]

You don't sound like a very heartless bill collector! :mad:

Has anyone ever said anything that really ticked you off? I know you have an amazing ability to let whatever the loudmouth debtors say roll of your back (it's probably a survival skill in your business), but has a boneheaded debtor ever said something that struck a nerve?

This one time Juggs and I were chillin' at Gunther Toody's, and he bought my cheese fries and milkshake because I forgot my money, but I told him I'd pay him back.
Later that day, we went back to my place to grab my wallet, and he asked for his money, and I was all "as if, cock holster, go fuck yourself. Thanks for the cheese fries, sucker!"

That pissed him off a little bit. He didn't say SHIT on the way back to his place.
C7

[Jugghaid]

You don't sound like a very heartless bill collector! :mad:

Has anyone ever said anything that really ticked you off? I know you have an amazing ability to let whatever the loudmouth debtors say roll of your back (it's probably a survival skill in your business), but has a boneheaded debtor ever said something that struck a nerve?

I've gotten a little pissed here and there over the years, but about the only time I REALLY got nuclear on someone is when they had the KID lying to cover for them and told me that the debtor died in the WTC on 9/11. I've had lots of kids lie to cover for their parents, which is pathetic in and of itself. If you have to hide behind a 10 year old then you're a piece of shit. But to use that particular lie, about 2 months after it happened, and after I had had several people that were really affected by it and got bills for several people that WERE killed that day.........

I called his work # to verify employment just to cover my bases and found out he was still there and employed and working. Got him on the phone and let him have it.

I ruined that fuckers life for years. :mad:

[Jugghaid]

This one time Juggs and I were chillin' at Gunther Toody's, and he bought my cheese fries and milkshake because I forgot my money, but I told him I'd pay him back.
Later that day, we went back to my place to grab my wallet, and he asked for his money, and I was all "as if, cock holster, go fuck yourself. Thanks for the cheese fries, sucker!"

That pissed him off a little bit. He didn't say SHIT on the way back to his place.
C7

That's cuz I boosted your wife's jewelry while you were taking a piss.

[Low Tone]

With your tracking abilities and whatnot, have you ever thought of giving up bill collecting and being a private investigator or bounty hunter?

[Jugghaid]

With your tracking abilities and whatnot, have you ever thought of giving up bill collecting and being a private investigator or bounty hunter?

I actually took a break from collecting for about a year and did investigations. It was a lot of fun, but I really like what I do. I think I'm hitting the end of the road for it htough. After I sell this company I'm gonna move on to somethinng completely different.

[Jugghaid]

Here ya go BH.

[basshunter]

Here ya go BH.

Thanks, all moved. :)

[VikingWarlord]

This seems like it'd be a great job if you could just go door to door with a bat.

I want to be like you, Juggs.

[Jugghaid]

This seems like it'd be a great job if you could just go door to door with a bat.

I want to be like you, Juggs.

You could before Carter fucked everything up and passed the FDCPA. :mad::D

[VikingWarlord]

He's a bastard.

I've been thinking a little about this though. Practically speaking, how much of a pain in the ass is it to actually get a start in this business?

[kaiser_sosea]

[QUOTE=i_wanna_les_paul;239798]What's the biggest problem you see people get into (as in, why you can stay in business)?

What area constitutes the biggest part of your collections (auto payments, mortgages, credit card, utility, etc.)

These may be dumb questions, but I really know nothing about it.[/QUOTES]
Sorry, late to the party, in my experience as a debt collector I dealt mostly with Medical debt which is terribly difficult to convince people they owe when insurance companies our involved. It is also heartbreaking a lot of the time to talk to people who have lost everything due to medical bills. It seems many people are not up to pace on how the Medical and Insurance system works and it ruins lives, very sad.

[kaiser_sosea]

You could before Carter fucked everything up and passed the FDCPA. :mad::D

rofl, the FDCPA isn't so bad though, it's the state laws that can get you into a mess as they differ from state to state. If you happen to owe medical bills, move to Texas or Mass., they are very protective of their "debtors"

[Jugghaid]

He's a bastard.

I've been thinking a little about this though. Practically speaking, how much of a pain in the ass is it to actually get a start in this business?

Not hard.

You just probably won't get paid that much of a base wage whn you start initially. There are tons of large collection agencies out there that hire like crazy.

[Jugghaid]

Sorry, late to the party, in my experience as a debt collector I dealt mostly with Medical debt which is terribly difficult to convince people they owe when insurance companies our involved. It is also heartbreaking a lot of the time to talk to people who have lost everything due to medical bills. It seems many people are not up to pace on how the Medical and Insurance system works and it ruins lives, very sad.

Yup. Medical is though. Done that before as well. most people really don't know that if their insurance doesn't pay the are liable,. even if they have a valid dispute with their insurance company. Most states are patient libaility states and regardless of why your insurance doesn't pay, you owe it.

[kaiser_sosea]

Caller ID....yes and no. It hurt a little just due to the fact that between that and privacy manager, calls get screened but we have ways around that and to put the pressure on. It also helped us when someone calls because we don't have good contact #s for them. so we call a relative or neighbor to leave a message for tem. this is completely legal but tends to piss people off. they call in to yell and scream and we trap THEIR phone #. many times their work#. 2 sides to that story. ;)

Collecting from someone I personally know? Many many times. also professional atheletes, actors/actresses and other celebrities. Ton of them. Politicians too. :D

My favorite thing to do when someone was really rude was to call their neighbors and leave a message. It usually at least generated a callback if nothing else. Many people don't understand that bill collectors actually provide a service whether you like it or not, and many are very helpful and not just blood sucking bastards. I've actually helped quite a few people set up budgets to follow and I believe helped out in the long run, even if i didn't get them to pay their bill....

[Jugghaid]

My favorite thing to do when someone was really rude was to call their neighbors and leave a message. It usually at least generated a callback if nothing else. Many people don't understand that bill collectors actually provide a service whether you like it or not, and many are very helpful and not just blood sucking bastards. I've actually helped quite a few people set up budgets to follow and I believe helped out in the long run, even if i didn't get them to pay their bill....

Yup. I love nearby messages.

And you're absolutely correct. I can't tell you how many thank you letter I have received over the years for helping them get their finances straight.

[VikingWarlord]

Not hard.

You just probably won't get paid that much of a base wage whn you start initially. There are tons of large collection agencies out there that hire like crazy.

I found one here in Indy (Premiere Credit) that always seems to be hiring. I thought about giving it a shot.

[Jugghaid]

I found one here in Indy (Premiere Credit) that always seems to be hiring. I thought about giving it a shot.

They're a pretty good sized shop. You could definitely learn the basics there and see if you dig it or not. Then move on to some place where you can make real money.

[VikingWarlord]

It really hit me when you mentioned that it's a business that isn't going away anytime soon. I never really thought about it but it makes perfect sense. The only business that seems to be growing in the current economic climate. :D

[Jugghaid]

It really hit me when you mentioned that it's a business that isn't going away anytime soon. I never really thought about it but it makes perfect sense. The only business that seems to be growing in the current economic climate. :D

It's recession proof. :D

and when the economy is kicking ass, it's good too as everyone is paying off their bills.

[King Kashue]

and when the economy is kicking ass, it's good too as everyone is paying off their bills.

Naw, when times are good, that's when people are running up their bills, because hey, "We can just pay it off later" :D

[Jugghaid]

Naw, when times are good, that's when people are running up their bills, because hey, "We can just pay it off later" :D

That too. which means I will continue to have a job for many more years. :D

[Zamfir]

Got any good stories about what happens when deadbeats leave the country?

I assume you garnish everything in reach inside a U.S. jurisdiction...but have you convinced anyone to come back? Ever had to reach / contact the perpetrators overseas (and were they shitting bricks from you finding them there, too :D )?

[Jugghaid]

Got any good stories about what happens when deadbeats leave the country?

I assume you garnish everything in reach inside a U.S. jurisdiction...but have you convinced anyone to come back? Ever had to reach / contact the perpetrators overseas (and were they shitting bricks from you finding them there, too :D )?

All the time. Especially military stationed overseas. I've even had embassies pay off bills for foreign students. had a debtor that was the son of some Saudi Prince or other. Came over here to go to Cornell. Left with over $200k in credit card debt. he owed us about $25k. I called the embassy to see if they knew how to reach him, they got in contact with the family and a check for the balance showed up in my office a week later. :D

The problem with sueing peole overseas is getting them served. If you "longarm" then (venueing the suit via where the contract was written as opposed to where they currently reside) then you can make it work, but it's pretty expensive to get someone served when they are outside the country.