Subject: LIARS, LAWYERS, CON MEN & THIEVES - BUD HIBBS SPEAKS OUT ON WHAT'S UNDER A COLLECTOR'S REPTILIAN SKIN (WHY IT'S A REPTILE, OF COURSE!)

The Debt Collector-Money Beggars

LIARS, LAWYERS, CON MEN & THIEVES

AGENCY COLLECTORS (BEGGARS)

Agency collectors have correctly been deemed the worst-type of collection agents! They operate from a computer database containing all your personal information, provided to them by the original creditor. When an outside agency gets your account, it has been 'charged-off' for non-payment. They make calls as fast as the auto-dialer can picking up the first one that hits a live voice and letting the rest go as annoyance calls. That's why sometimes you get only a recorded message telling you to call about a very important matter. Commission is their livelihood; they don't have time for pleasantries or obeying the law.

An agency collector's commission ranges from 15-25% of what they can extract from you. Most are paid bonuses if they hit a quota and steady, hard-working collectors can make $40-60K per year. The majority will bring in much less because they routinely step over the line to increase their take.

Who Seeks a Career as a Debt Collector?

In a industry where deception, craftiness, and deceit are rampant, you might imagine most honest people would seek work elsewhere. And you're right. My experience says the average debt collector is male, has a large ego, bounces from job to job, suffers low self-esteem and enjoys using the telephone as an instrument of empowerment. You shouldn't be surprised to find most of them have great debt problems themselves.

The debt collection business is plagued with high employee turnover. Constant training of new collectors puts great strain on the agencies and the employees. Every moment someone is in training is time lost on the phone. You can imagine the shortcuts that are taken to get a new caller on the floor as soon as possible.

Collectors see themselves in a position to take advantage of those they deem weaker, in
an effort to overcome their own insecurities. They normally will talk-over any issues you may have, threaten and intimidate you, lie, misrepresent themselves, abuse, annoy and attempt to push you as far as they can. After all, a portion of what they collect from you becomes theirs. Unfortunately, far too few consumers complain about debt collectors overstepping their bounds, because they are intimidated or embarrassed about their dilemma. Over the years I've dealt with literally thousands of collectors and suggest that only 2 out of 10 are honest and hard working. The greater percentage are deadbeat scum either just out of, or heading back into a jail cell. Collecting is a male dominated business and because of the shortage of skilled workers, agencies are hiring anyone who can walk and chew gum to make their calls. Social skills, education and career orientation are NOT normally the prerequisites for a debt collector – money beggar position.

Bud Hibbs
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Editor's note: I agree with everything Bud Hibbs says; however, in saying that only 2 out of 10 collectors are honest, I think Hibbs' assessment is out by 20%.

Ray