The Truth of Credit

April 21, 2008

This is the last week before closeout for my file. Honestly, I wish I was in better shape in terms of my goal for the month. I hate that my financial well-being lies in the hands of people that don’t pay their bills but I will fight hard till Friday.

8:00 a.m.  I have been on some pain medication for a bum tooth so my head is in the clouds. My first hour was pretty uneventful with a few ”Pickup, Hang-ups”, the typical debtor shenanigans.

9:05a.m. Call to debtor in Connecticut. Younger girl, this is probably her first credit card. She has been playing games with me saying that she will call back and never does. Today’s conversation was short and sweet. She hung up again. I skip-traced her job and will be calling first thing tomorrow. She will not be happy. I would respect her more if she just said she didn’t have the money. By playing games, she is forcing my hand.

11:25 a.m Call to older women in California. She tells me that I’m dialing the wrong number. She has no explanation for why I spoke to the person I was looking for 2 days ago at the same number. She couldn’t explain why the number reversed to the name of the debtor’s spouse. I hate this game the most. 

11:30 a.m  Lunch- Ham & Cheese with Doritos while I read a book called Automatic Wealth by Michael Masterson. Great book, a must-read for someone looking for fortune and financial independence. 

1:27 p.m Call to a doctor in the New York area. He wants to settle on a $31,886.01 account. This account is spread over three separate cards, lucky for me all three are in my file. After updating his file he wants to settle for 10K. Fine offer, and I would have taken it but this account has not been here long enough. I get him up to $13,185.88. Here is out it breaks down:

Down-payment paid by 4/25/08 $5,000
Payments  $740.50 x 12
Total  $13,886

Collector’s will take these deals left and right. Reason being not only do we get a nice “pop” up-front but you also go to the register each month with $740.50.  Good Deal!

4:30 p.m. Call to younger male in Florida. He is getting back on his feet from having a baby and being unemployed. I cut him a deal allowing him to make payments of $200 bi-weekly(interest free) on a debt of $5,000. This is his only account in collections. I like this deal because again I’ll get to go to the cash register each month with $400.

The TRUTH is despite being highly medicated this was a good day for good ol’ Rick. I learned today that the right call at the right time can significantly change your month as a collector in terms of your bonus. Don’t ever give up, your bonus may be just a phone call away.

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