Ask a FL Debt Collector anything
Date: Mon, 03/21/2011 - 19:32
By way of introduction, let me state that I am involved with a large debt collection (among other practice areas) law firm in Florida. Our firm does not engage in any of the disreputable practices I've seen reported on this forum, because we only accept legitimate, collectible debts.
That said, I thought it might be useful to wave the flag of truce and see if there is anything you would like to ask that might benefit from an insider's perspective.
For instance, you may not realize how many times we would like to accept a settlement that works for you, and our clients veto it. Our best clients give us a lot of leeway, but some give us little to none. If it seems crazy that the best payment plan I can offer on a $5k debt is two payments of $2500, rest assured that it isn't my idea.
I'd like nothing better than for you to make $50 monthly payments on a $2000 negotiated amount, but unfortunately I can only represent one party at a time, and it isn't you.
Anyway, feel free to ask me anything. (except where I work, who my clients are, etc.)
It is good to note that an experienced debt collector has joined
It is good to note that an experienced debt collector has joined the forums and wishes to share his/her opinion in the forums. I hope your suggestions will be helpful for the members participating here. :-)
Well, in reading your signature, you are pretty much stating the
Well, in reading your signature, you are pretty much stating the info you provide is unreliable with no real value. Just sayin!
Happy to know that the members can get useful advice from a pers
Happy to know that the members can get useful advice from a person who is involved in debt collection practices. Several members have loads of misconceptions about the collection agencies. I hope you'll be able to help them out. :)
Quote:Well, in reading your signature, you are pretty much stati
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Well, in reading your signature, you are pretty much stating the info you provide is unreliable with no real value. Just sayin! |
I'm just naturally cautious. If you find value in my posts, terrific. I will deny putting it there. :D
One more thing. Our firm will ask for financial information when we are negotiating with you in the litigation process. We will not ask for account numbers or even which bank, but we do want to know the balances you carry, your rent payments, who else you support, etc.
We do this so we can have more information to take to our client to get them to accept the offer you are making. If you are on disability, tell us up front, not after 3 years of litigation. Our better clients will help us work something out.
Quote:I'm just naturally cautious. If you find value in my post
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I'm just naturally cautious. If you find value in my posts, terrific. I will deny putting it there |
Why deny it??
I have never hidden I am an ex collector from a reputable company. I collected, I trained collectors and I managed collectors. I have never felt the need to put a disclaimer on my posts. I spent over 10 years collecting and I am not afraid to share exactly what happens and why it happens from my experience. Our agency handled not only federal and private student loan debt but also all the major credit card accounts.
this is the usual pablum from an employee of a bottomfeeder.why
this is the usual pablum from an employee of a bottomfeeder.why do i say this?simple.the stupid disclaimer and the fact they are so dead set against stating who they work for.sorry,but again just another idiot working for a bottomfeeder trying to state how"legitimate"they are.not buying this OP.either state who you work for,or get lost pal.
I can understand him not saying who he works for...hell I am not
I can understand him not saying who he works for...hell I am not in collections now but work in financial services and I wont say who I work for. He may well work for a legitimate law firm and not necessarily a bottomfeeder. Lets face it, he is fairly literate, not like most of the real bottom feeder collectors who post here.
i'll admit they are slick,but not impressed by the rhetoric.his
i'll admit they are slick,but not impressed by the rhetoric.his example of the 50.00 a month is okay,but the example of the 5000.00 debt is laughable.only AMEX or DISCOVER would not settle for 2500.00.they make it sound like they have a instant pipeline to the supposed creditor when i know that isn't true.settlements and agreements i writing don't just happen in an instant.that is the impression they are giving.
Quote:i'll admit they are slick,but not impressed by the rhetori
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i'll admit they are slick,but not impressed by the rhetoric.his example of the 50.00 a month is okay,but the example of the 5000.00 debt is laughable.only AMEX or DISCOVER would not settle for 2500.00.they make it sound like they have a instant pipeline to the supposed creditor when i know that isn't true.settlements and agreements i writing don't just happen in an instant.that is the impression they are giving. |
I'm not going to post who I work for because I still work for them and would like to keep it that way. I don't know how they would react to my participation in this forum and I am not in a hurry to find out.
I can get a response to an offer within 4 hours for 3 of my clients, and 15 minutes for 2 others. Granted, the offer make take an hour or two to get from the collection floor to my office, but the actual clients will respond in the above time-frame. Disbelieve it if you like, but it is the truth.
In response to your contention that my example is laughable, you clearly have little experience with the top end of debt collection.
The absolute worst offender of unreasonable settlements is the credit union (CU).
My CU clients are easily the most aggressive and unreasonable when it comes to payment plans, about 80% of the time. The other 20% of the time, they will inexplicably allow us to take 5 cents on the dollar and let us close the file. Their decisions have a loose association with your assets, but they still surprise me from time to time.
The reason they behave like this is because I generally have signed contracts, detailed payment logs and contact notes, and client contacts who are members of the union themselves, and view the loss as "their" money.
If you've got a CU after you for a decent amount of money within the appropriate statute, good luck.
EDIT: I hate doing garnishments, and so do most of my clients. The CUs make up 90% of our garnishments, and are only limited by how many our firm can actually handle.
Quote:this is the usual pablum from an employee of a bottomfeede
Quote:
this is the usual pablum from an employee of a bottomfeeder.why do i say this?simple.the stupid disclaimer and the fact they are so dead set against stating who they work for.sorry,but again just another idiot working for a bottomfeeder trying to state how"legitimate"they are.not buying this OP.either state who you work for,or get lost pal. |
Based on our command of either the English language, or more frighteningly, our fingers, I would suggest you swing the "idiot" stick with care.
the problem with this forum is you will never get a fair shake b
the problem with this forum is you will never get a fair shake buddy. it seems like youre knowledgeable and well intending. but it doesnt matter, you'll be crucified at every stop. why? because you've already admitted that you are a "bottom-feeding humanoid" (i use this term as hyperbole, not my actual opinion). it doesnt matter if your company is a bottom feeder or actually reputable - you will never be able to prove the latter. leave now and dont waste your time here.
paul, it couldnt be more obvious why this person doesnt post where they are working. if their employer finds out then he is likely fired. stop using this as an excuse to discredit them.
There are bottom feeding agencies and I get the impression this
There are bottom feeding agencies and I get the impression this guy does not work for one...there are many good collection agencies in this country, with employees who give their debtors a fair shake. People dont come here complaining about them. You generally only hear about the bad ones.
Settlements depending on the client and time of month can be quick as he says. It all depends on the client. I had blanket settlements on all of my student loan clients.....I could get higher approved if there was exceptional circumstances. On our credit card side, we had a liason in the front office who spent most of her day calling on and getting settlements approved for the collectors.