The Truth of Credit

Banks as a business are quiet simple; they store money and they lend money. That being said, the only way to differentiate themselves from each other is through customer service and marketing. Very rarely do you see a product at one bank that isn’t offered at another. A bank is your partner as long as you continue to pay your fees, interest and penalties. However, things change when you stop paying.

I know this is very intuitive stuff, but despite that there are many people that just don’t get it. No matter how unique your situation is; be it divorce, illness or unemployment, the bank wants their money. They can’t discriminate, everyone must pay. As a debt collector you hear some pretty sad stories. Example: Today, I spoke with a lady from Washington state. Not, only was she recently diagnosed with breast cancer she also recently lost a child to SIDS. My heart goes out to her, honestly. I didn’t give her a hard time but she understood that she owed the money and the bank would be expecting it. For every heartbreaking case there are ten deadbeats crying about the economy or other circumstances out of their control .

The TRUTH is that when you sign up at a bank you made an agreement and as unfair or unjust as it may seem, it is your obligation to live up to your end of the contract. At some point in that non-payment phase you know the bank is going to draw the line. I just hope you’re ready, because they win every time.

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