A friend, who works as a debt collection agent with a leading Collection Agency in the capital city told me that he had so heavy a workload that he is glad that this long weekend, he gets to take a break from work. He said that he is also glad that debtors get a respite from him too!
My mother asked me why my cousin is being chased for payment on his credit card debt by a third party company. According to this friend, many credit card issuers have passed on this task to professional debt collection agencies as they are overwhelmed with people with credit card debts over the past few years since the economic meltdown.
I thought that credit card companies are not supposed to divulge financial and personal information of their clients to third parties but I guess I have been misinformed. Perhaps they have seen how creditors from other industries have been very successful in managing accounts receivables with the help of debt recovery agencies that they too would like to close the files of their credit card debtors.
My cousin, who owes a credit card company a small sum of money, told me that the debt collection agent is willing to give him a steep discount just so that he would settle the debt in full as quickly as possible!
My mother asked me why my cousin is being chased for payment on his credit card debt by a third party company. According to this friend, many credit card issuers have passed on this task to professional debt collection agencies as they are overwhelmed with people with credit card debts over the past few years since the economic meltdown.
I thought that credit card companies are not supposed to divulge financial and personal information of their clients to third parties but I guess I have been misinformed. Perhaps they have seen how creditors from other industries have been very successful in managing accounts receivables with the help of debt recovery agencies that they too would like to close the files of their credit card debtors.
My cousin, who owes a credit card company a small sum of money, told me that the debt collection agent is willing to give him a steep discount just so that he would settle the debt in full as quickly as possible!
*** This post has been sponsored.
0 comments:
Post a Comment