So, you just sat down to eat dinner and the telephone rings. It’s that bill collector again, wanting their payment as always. What do you do? Do you just keep letting the phone ring and let them get the answering machine again? Another message you can delete later, knowing that they will call again tomorrow and the next day and the next. They may even be calling you at work, or calling your relatives. Click here to read about starting a business in a recession.
How do you stop these phone calls? Well, the obvious way to stop them in their tracks is to pay your bill. But, in these hard times, you don’t always have their payment when they want it. So, what is your best option?
It’s my opinion as a 10 year veteran of the debt collection industry that you should pick up your phone. Face these people head-on. Try to come up with a payment plan. Most of the time, creditors are calling you just to update your situation. They want to know that they are not being ignored.
How would you feel if money was owed to you, and no one called you back, or avoided you completely? Let’s picture this scenario: It’s your payday. You check your bank account for your direct deposit, and are surprised to find that there is no paycheck in there. Your head starts spinning… what happened? You now have bills that you can’t pay, you are teetering on financial ruin if that money doesn’t appear… and quick! Now, you call your boss, and he’s not answering. You leave a message in hopes that this is just an oversight and will be quickly remedied. It’s hours later, and still no return phone call. You call again, still no answer and another message is left. You are beginning to wonder what’s going to happen now. Will you ever receive what’s owed to you? Now, imagine calling your boss for days and days on end, never receiving any communication. You are beginning to see my point.
As debt collectors, we depend on communication and payments from you for our paycheck. The companies that employ us depend on us and you for their paycheck. Most companies, even in this tough economy will accept payment arrangements versus nothing at all. It is a collector’s job to collect payments from clients, however, a collector knows that that isn’t always immediately possible.
So, the next time the phone rings, pick it up. Ask for a payment plan. If that is not possible, ask to speak with a supervisor. Communication is always better in these instances, even if it’s nothing more than, “I don’t have your payment at this time”.