What are some secrets about debt collection agencies?

Debt collection agencies often get demonised due to the nature of the job. While it is true that debt collection agencies have to follow up with debtors and make contact with them. Not all debt collection agencies are the same.

While there are some debt collection agencies who are aggressive in their approach, they are fewer than those who truly understand the nuances that come with debt collection. 

Here at My Debt Recovery, we understand that there is a human behind the debt and a number of reasons why debt happens. That’s why we are sharing some secrets with you about debt collection agencies. We hope this blog sheds light on who we are and some misinformation that gets thrown around with debt collectors. 

1: We want to help

The first secret is that we genuinely want to help people. Many who work in debt collection are acutely aware of how easy it is for people the end up in debt. We know the human behind the numbers. While we don’t enjoy chasing people, it is part of our job to gain contact with them in order to help them. 

2: We don’t knock on your door as often as you would think

In many TV adaptations debt collectors are shown banging on doors and forcing an entry. But don’t get us confused with enforcement agents. Debt collection agencies rarely need to visit premises in order to gain contact with a debtor. Of course it may occur, or sometimes an in person meeting is preferred. But we do not turn up unannounced unless absolutely necessary.

3: We get mistaken for scams more than people realise

Unfortunately there are many scam artists online who pose as debt collectors. This means that many of our initial contacts are ignored. It is easy to assume that all debt collectors are scams, especially if you are unaware of a debt. However, if you are concerned about a correspondence you have received from a debt collection agency you can always do some research. Visit their website, find the company registration number and look into the legitimacy of the business. A scam artist won’t go so far as to register their business. 

4: Debts can happen to everyone

It is important to remember that debt can happen to anyone. It really does humanise us all when we take stock of how slippery a slope debt can be. While it is sometimes unavoidable, such as credit cards and other debt services. With the economy in such disarray it is easy to miss a payment and end up with more debt than you realise. 

Ensuring you keep on top of your debts and repayments is key. 

5: It’s not as scary as people think

Considering many debt collection agencies get a bad reputation, it can be daunting for many people being contacted by a debt collector. However, debt collectors aren’t as scary as people think. 

Our reputation is tarnished by over dramatised depictions shown on television. In reality, debt collectors are human and understand the difficulties that come with being in debt. Debt collectors are there to help you as well as recoup unpaid debts.

Once you have spoken to the debt collection agency the worry will be lifted and you will be able to move forward. Knowing that there is a plan in place to ensure you are able to pay the debts you owe. 

Here at My Debt Recovery, we understand that debt can happen to anyone at any time. That is why we work with you to ensure that debts are paid back in a way that works for all parties involved. Contact our team for more information on debt collection services. 

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