Good Bill Collector, Bad Bill Collector!

You’ve seen it on prime time police dramas before where one cop comes into the interrogation room and lays into the suspect like a windmill in a tornado in order to shake a confession out of the suspect. When that fails, they send in the other cop who takes an approach of caring and concern for the suspect in order to gain their trust only to coax them into confessing to the crime. Yep. The ol’ good cop, bad cop, routine.

Well, you might be surprised to know that bill collectors use the same technique to loosen the pockets of unsuspecting debtors. First, they have the tough, hard-nosed bill collector speak to you who does everything in his power to break you down and shake you up. When that doesn’t work, they put the nice guy on the phone to calm your nerves and settle you down and hopefully make you feel comfortable enough to pay the debt you owe.

The point I’m trying to make is to stand your ground and don’t let any bill collector talk you into paying a dime unless it benefits you in some way. Remember, you have what they want and therefore hold all the cards. Their idle threats and scare tactics are just that…scare tactics. They get paid on commission and earn bonuses for collecting the most money. There are documented incidents of some collection agencies holding contests between themselves to see who can make a customer cry first!!!

I’ve heard every threat you can imagine but I didn’t budge. When I did decide to pay them it was on my terms and I made sure I got something out of it by having them agree “in writing” to remove the negative reporting from all 3 credit bureau profiles in exchange for me paying off the debt. This technique is called “Pay For Delete” or “PFD”, which I will explain in more detail in a future post. If you can’t wait that long, just send me a message and I will forward you a sample “PFD” letter that I have used in the past to successfully negotiate a payment on my terms, not theirs!

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