Here’s a story about a debt collector named Jake:
Once upon a time, there was a debt collector named Jake. He had been working in the collections industry for many years. He had seen it all – from borrowers who genuinely wanted to pay their debts but were facing financial hardships to those who simply didn’t care and thought they could get away with not paying.
One day, Jake received a file for a borrower named Maria. She had taken out an installment loan to fix her car. Shortly afterward, Walmart cut back her hours, so she could not make her payments.
Jake had heard this story many times before and was prepared for the usual excuses and pleas for leniency. But when he called Maria to discuss her account, something unexpected happened.
Maria answered the phone, and Jake could hear the sound of a baby crying in the background. He asked if everything was okay, and Maria burst into tears. She explained that her husband had recently been laid off from his job, and they were struggling to make ends meet. They were about to lose their home and had no idea how they would feed their family.
Jake, the debt collector, was moved by Maria’s story and knew he had to do something to help. He took the time to listen to her and understand her situation. He then suggested that they work out a payment plan that would be manageable for her and even offered to call other creditors on her behalf to see if they could work out a plan.
Maria was extremely grateful and thanked Jake for his kindness. She could make her payments on time, and eventually, her husband found a new job. With Jake’s help, Maria could get back on her feet and start rebuilding her credit.
[Jake’s employer, a personal loan company, signed up with a new platform that reports their subprime consumer loan customers’ payments to 2 of the 3 major credit bureaus! Their verified loan payment information is submitted directly to Transunion and Equifax! PS: This helps Maria and her husband build their credit AND provides leverage for subprime Lenders!] Thus, thanks to Jake, the debt collector’s efforts, Maria and her husband are rebuilding their credit.
Jake’s colleagues were impressed with his ability to connect with the borrower and find a solution that worked for both parties. They could see that by treating borrowers with empathy and understanding, they were more likely to work with them and find a way to resolve their debts. From that day on, Jake’s peers followed in his footsteps, tried to connect with the borrowers, and helped them in any way they could for the betterment of their employer and the debtor.
The moral of the story? A good debt collector always tries to understand the borrower’s situation and find a solution that works for everyone. A little empathy goes a long way!
PPS: Are you a Lender to the subprime? Would you like an introduction to this new credit-building platform? Email me at TrihouseConsulting@gmail.com. Your subject? “Credit Builder.”
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