May 18, 2011
Debt collection is all about mind games. NotSoDeepSouth blogged about the four magical words that he used to use as a debt collector that acted like a crowbar on people's wallets, getting formerly relcacitrant people to empty out their pockets.
The four words are:
- "office"
- "file"
- "client"
- "flat refusal to pay"
Example sentence: "Ms. Jameson, are you aware that you owe my client, Ultracorps, $217.23? I'm just calling to confirm one final time that this is a flat refusal to pay before I file this with my office and we take additional steps."
The psychology is simple, NotSoDeepSouth writes. "If I call up and use the buzz words alleging legal action, and I sound educated enough to perform some sort of legal action, people tended to find money in the budget."
As an individual debt collector he made 20-35% off all the money he collected. When the original debts were bought for $.0025 on the dollar, that's quite a profit.
This is why you should never get freaked out and caught up in a debt collector's voodoo. First make them prove that they own the debt and that it's valid, and then haggle it down.
Debt collection is all about mind games. NotSoDeepSouth blogged about the four magical words that he used to use as a debt collector that acted like a crowbar on people's wallets, getting formerly relcacitrant people to empty out their pockets.
The four words are:
- "office"
- "file"
- "client"
- "flat refusal to pay"
Example sentence: "Ms. Jameson, are you aware that you owe my client, Ultracorps, $217.23? I'm just calling to confirm one final time that this is a flat refusal to pay before I file this with my office and we take additional steps."
The psychology is simple, NotSoDeepSouth writes. "If I call up and use the buzz words alleging legal action, and I sound educated enough to perform some sort of legal action, people tended to find money in the budget."
As an individual debt collector he made 20-35% off all the money he collected. When the original debts were bought for $.0025 on the dollar, that's quite a profit.
This is why you should never get freaked out and caught up in a debt collector's voodoo. First make them prove that they own the debt and that it's valid, and then haggle it down.
