Collections & Credit Risk Article: Credit Education Can Turn Collectors Into Advisers, Not Accusers
Tags: Consumer Information, Collections, Debt Recovery
Today's debt-collection world concentrates intensely on results - getting past-due consumers to pay something. An investment in further education by collectors - consider it professional development - can help them get better results. In the process, it also may help offset any negative perceptions consumers have about the industry.
In a series of "confessions" compiled by CNN Money, nearly all of 10 former debt collectors said they quit the industry because they considered it a "scary experience." Many cited debtor harassment, including physical threats. Without expressing it, these former bill collectors made it clear that learning more about consumer credit and counseling could have helped them interact better with debtors. One found it satisfying when she would "try to come up with solutions," while another acknowledged, "We don't have to have a black heart."