I asked a friend who owns a collection agency to give me the tea on how she collect debts. She makes a killing trust me. This year, her debt collection agency is estimated to reach a whopping 3 million in sales! 🙈
Here’s what she said:
- She buys debts for pennies on the dollar and will collect for the full amount. Ex. Buys a $300 cell phone debt for .20cents and will collect for the entire $300!
- She watches your credit report for positive activity or inquiries. Ex. If your credit is inactive/bad she’ll watch it for any changes, then throw the collection account on your credit report knowing it will bring down your score then send you a letter to collect payment.
- Letters that look like they were printed online goes in the trash. Re: She said the average person can’t even read a credit report so she knows they didn’t write it.
- Each time she receives a dispute from the credit bureaus, she automatically “verifies” the debt. Re: The credit bureaus are on her side regardless because she pays them. She’s their client.
- She does not offer “Pay Per Deletion”. Re: She could lose her contract with the credit bureaus and she wants other lenders to see your bad past.
- Her staff is trained to be in control, are paid high commissions and are told “I don’t have the money” is unacceptable. She said she collects on almost all of her portfolios. Re: She and her staff are hungry.
- She said, the letters that get responses are the ones that looks as if an educated consumer wrote it.
I don’t agree with her job necessarily, but hey, she darn sure doesn’t agree with what I do. But at least we can debate, but yet still be cool! Plus, she gave me some priceless info. Learn to play the game or get PLAYED🎲🃏🃏🎱