Common misconceptions about debt collection.
There’s a lot of misinformation out there. It’s not as scary as people think!
Debunking Common Debt Collection Misconceptions
When it comes to debt collection, we have all heard the horror stories about some evil and hyper-aggressive collection agencies harassing clients and generally being up to no good. We are here to clear the air and change the public image of debt collectors to something more positive! The following are common misconceptions about debt collection followed by the truth.
Debt collectors will harass my clients in order to get a collection.
Each commercial collection agency will have a different approach to collections. You have our word that Commercial Receivers Incorporated will NEVER harass or otherwise act unprofessionally towards your clients. We have found that the best way to collect is by making sure that the terms of the collection are appropriate for all involved.
Debt collectors will force a debtor into bankruptcy.
In reality, it would not make much sense for a debt collector to make a debtor go bankrupt. Bankruptcy usually means that the financial obligations of the debtor are nullified. This often results in the full debt not being paid. However, if a debtor sees bankruptcy as a viable solution to its financial problems, it will file without thinking twice!
Economic failure means good business for debt collectors.
During a recession it may be true that more accounts will go into delinquency, thus more accounts will be placed under a collection agency. This also means that fewer bills are likely to get paid. Furthermore, this increase in business is only temporary, as a prolonged recession will ultimately result in fewer accounts being placed with a collection agency. Here at CRI, we like a healthy economy more than anyone.
Debt collectors are cut from an odd cloth.
Here at the office, we are all just regular people, we do share some skills in common though. We are goal-orientated, problem-solving, motivated, and helpful!Meet the real debt collectors here.