Are All Debt Collectors “Rat-Bastards”?
I recently read a post, and it’s subsequent thread, the other day where the author was bashing on debt collectors. The names and references flying around would have made a sailor blush. People hate debtor collectors- Why? Gone are days of the lead pipe carrying, knee cap busting, thugs of old. Granted there are some unscrupulous collectors still left, but the industry as a whole shuns them.
Does all this animosity stem from the fact that collectors hold individuals accountable for their actions? I think maybe it does. I think that at some level it also stems from bruised pride and/or embarrassment.
Debt Collectors are integral to this nations economy. I was reading an article from the Feb 2007 issue of Collectors Magazine entitled “Perpetuating the Industry” by Gary D. Rippentrop, CAE. In his article Mr. Rippentrop talks about a PricewaterhouseCoopers (PWC) study commissioned by the ACA. The information from this study has helped the ACA demonstrate to government officials and members of the news media that the work of professional collectors returned $39 Billion to U.S. Businesses and saved the average household $351 in 2005.
We’re talking BILLIONS of dollars. Imagine how many businesses would have ‘went under’ and how many hard working American would have lost their jobs if collectors had not recovered money owed to these businesses.
Collectors are not the bad guy. They perform a necessary, albeit unglamorous job that society as a whole benefits from.
Tags: , accounts, business, collections, commercial debt, consumer debt, credit, debt, judgments, legal, receivables
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