Credit Card Center Advertiser Disclosure†
10-06-2012 12:09 AM - last edited on 10-06-2012 01:45 PM by LIGHTNIN
It is definitely not what most people believe - all collectors are not pond scum. I always took the approach that each debtor I dealt with was someone that wanted to do the right thing until they showed me otherwise. I was always polite and upfront with my debtors, even with the 90 year old man that called me a "Mod Edit" for even daring to call and tell him that he had a balance due from his bill.
In MY experience, there are good, honest collectors and terrible, corrupt collectors in nearly every agency. In MY experience, once the OC turns over the bill, they don't want to talk to the debtor at all anymore. They're already unhappy that they are losing 7-20% of whatever is collected to the CA. Or they just want to deal with people who want to pay before it gets that far. The collector on the other hand sees that person calling in as a potential part of their income for the month and they DO want to talk to you. If they're allowed to delete, OF COURSE they will if it means money in their pocket on commission day.
I agree 100 percent with what you are saying above. I have never felt debt collectors were scum, if it regarded to collecting on legitmate debt. All of my debt, less for 3 accounts, were legitimate debt I paid in full, and either negotiated a PFD or a GW attempt. More than a dozen collection accounts. Nearly all reps I spoke with (offshore or USA based) were cordial, followed the rules; weren't beligerent. MY personal experience
But there are extremely unethical AGENCIES, not just agents, where their whole business is buying old debt, 4 times over and resold, for pennies on the dollars and spend their whole days violating FDCPA and FCRA in extortion attempts by harrasing, by making legal threats they can't possibly back up, by threatening your livelyhood. This isn't me trying to sound dramatic, this is fact. And I delt with THREE of these agencies
I just don't agree with your intial response on this thread to begin with; whcih indicated that CAs won't delete unless the OC states to, because I promise you that a couple of the OCs who took me to court, won a judgment (which subsquently I paid off) and still try to do things to impact my future would have a seizure if they knew the CA removed the account after payment. And several other of my accounts were sold, for example, the HSBC charge off, and there is no way Portfolio Recovery was talking to them when I was negotiating my PFD.They bought they debt. The owned it. They did what they needed to do to make money and HSBC was not in this loop.
As for working for three agencies, your internal experience and knowledge is clearly superior towards mine. But having spent the last 3 years repairing, and rebuilding my credit, my experience has taught me otherwise.
10-06-2012 12:26 AM
10-06-2012 12:31 AM
I don't always remember to specify , but my initial response definitely was meant to apply to debts which are contracted, not sold. And I agree, most of those OCs would lose their minds if they knew CAs were deleting debts. They want that mark on your credit as long as possible. They don't want to be seen as soft - they want you to pay future bills to them before it goes to a CA. They don't want to lose any money to a CA that isn't necessary.
And there are ABSOLUTELY corrupt agencies. I left the one I worked for in Houston, TX because I didn't want to be associated with that type of crap, much less end up named in a lawsuit because of the practices others at the agency engaged in.
Okay. So after 3 hours and 1500 words, we esseintially have the exact same opinion hehe
10-06-2012 07:25 AM
I had a collection agency pay for delete with no hesitation, ive had another tell me its against the FCRA regulations. both were small debts. im going to sit down and write up some letters and mail them off. i have 3 agencies that could help me out if they deleted GW.
10-06-2012 12:55 PM
It's pure luck I believe. I had an easier time with the OCs than the CAs. I agree that not all CAs are pond scum, for some though, I would think comparing them to pond scum is insulting the pond scum.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.