Academy Collections scares me

[pcn]

Couldn't think of a better title, but they do. I have had a couple calls from them before. Missed one last night, and called back too late to catch them. I was going to be ugly and get on them about not sending a written notice yet. Played phone tag with the collector while I was at work. Finally got him. He thanked me for calling back and said he was just calling to see if our situation had changed, and if we could do anything. He was very nice about it, so it seemed almost eerie compared to other calls at this point (9 months). I told him our financial situation had not changed and that we weren't able to do anything at this time. No threats, no cash in your 401k, no sell your children, just "OK, good luck, I hope things work out for you." Is this a kind of reverse psychology attack? I almost felt bad when he hung up, like I had let him down.

[MSbklawyer]

He was very nice about it, so it seemed almost eerie compared to other calls at this point (9 months). . . No threats, no cash in your 401k, no sell your children, just "OK, good luck, I hope things work out for you." Is this a kind of reverse psychology attack? I almost felt bad when he hung up, like I had let him down.

This is a debt collector you're talking about here?!?!? He must have already met his quota for the month or it was his last day on the job or something. He actually said "OK, good luck, I hope things work out for you." ?!?!? Are you sure you didn't just dream that?

[AngelinaCatHub]

Goes to show you, there is good in everybody if you did deep enough. This must have been an honorable person. A refreshing story. 'Hub

[lindsay2181]

I've had several of those...but I don't think I've gotten to the "sell your children" stage yet lol.

[pcn]

This is a debt collector you're talking about here?!?!? He must have already met his quota for the month or it was his last day on the job or something. He actually said "OK, good luck, I hope things work out for you." ?!?!? Are you sure you didn't just dream that?

Yep. that is exactly why it was so eerie. He almost sounded sad. I'm just waiting for the subpoena to arrive today at work...

Yes, there have been all sorts of suggestions from others, like "Can you borrow the money?", "Do you have a 401K?", "Why can't your wife get a job?", etc. All very helpfull in trying to help us resolve our financial situation. Too bad they werent offering the "no interest, low payments" back when things started getting bad.

[frogger]

This is a debt collector you're talking about here?!?!? He must have already met his quota for the month or it was his last day on the job or something. He actually said "OK, good luck, I hope things work out for you." ?!?!? Are you sure you didn't just dream that?

Actually, it is a new collection tactic that the industry is starting to use. The October/November issue of Collections & Credit Risk magazine discusses the "be nice" strategy. It seems that consumers can't pay in full, and are choosing to ignore that abusive, pay in full today collectors that call.

The collection agencies are getting more willing to accept smaller payments, instead of getting nothing. The softer touch is helping.

[pcn]

The collection agencies are getting more willing to accept smaller payments, instead of getting nothing. The softer touch is helping.

Just think, if the original creditors had figured this out, they may have gotten something. But by the time it has reached this point, no one will get anything.

"Too Big to Fail" ??
More like "Too Big to Think"

[debtprison]

Just think, if the original creditors had figured this out, they may have gotten something. But by the time it has reached this point, no one will get anything.

"Too Big to Fail" ??
More like "Too Big to Think"

Too bad they aren't willing to play fair either. If all of my creditors were to drop all penalties, retroactively set interest at 5%, and allow me to pay down principal I would repay everyone, every dime. But charging me astronomical fees, penalties, and interest made me just want walk away. Even if I paid every dime of disposable income I had for the next ten years I know that the total would still only go up due to all the fees and interest so why should I bother? Why should I live like a miser and only be treated exactly the same with no way out?