Agency debt collectors have correctly been deemed the worst-type of bill collectors! They mostly operate from a computer records containing all your private personal information, provided to them by the original creditor or a asset search company. When one of these outside agencies gets a hold of your account, it has been ‘charged-off’ for non-payment. They make calls as fast as the phone auto-dialer can and only picking up the first one that hits a live voice and letting all the others go as a standard annoyance call. That’s why many times you will only receive a recorded message telling you to call about a very important matter from Joe Black (which is a actual name used before).
Joe Black and these Agency Collectors rely solely on Commission as their livelihood; much like a used car sales man but unlike the car sales man they don’t have time for pleasantries or obeying the law. An agency collector’s commission will range from 15-25% of what they can extract from you, so they will usually are more aggressive on the larger collection accounts and make them a first priority. Most are paid bonuses if they hit a quota and steady, hard-working collectors can make $40-60K per year. However, the majority will bring in much less money than that because they consistently step over the line to increase their take home pay.
Who Seeks a Career as a Debt Collector?
In an industry where deception, craftiness, and deception are wildly rampant, you might imagine most honest people would seek work in another place. And you’re right. My personal experience says the typical debt collector is male, has a large ego, bounces from job to job and suffers low self-esteem and enjoys using the telephone as an device of empowerment. You shouldn’t be shocked to find most of them have great debt troubles themselves.
The debt collection business is inundated with high employee turnover. Constant training of new collectors puts great strain on the agencies and the employees. Every moment somebody is in training is time lost on the telephone. You can envision 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 inferior, in an effort to overcome their own weak insecurities. They normally will talk-over any issues you may have, threaten and frighten you, lie, misrepresent themselves, mistreat, annoy and endeavor to push you as far as they can. After all, a piece of what they collect from you becomes their paycheck.
Sadly, far too few consumers complain about debt collectors who overstep 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 truthful and hard working. The greater percentage is deadbeat scum just out of jail or headed back into a jail cell. Collecting is male dominated business and because of the shortage 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.
Check your free credit report to see which debt collector is trying to harass you at https://www.annualcreditreport.com/cra/index.jsp
