Ever wonder what the job description is of those people who call you over the phone, the ones who are trying to collect on an old debt?
I will not divulge the company name, but I believe most are very similar. Note: the italics below are my notations. Here it is:
Generate revenue from the collection of delinquent credit card accounts that the company has purchased (See? They're not calling on behalf of Discover or Chase or Capital One or Citi. They own this debt.) This is accomplished through phone calls to the responsible party on the account. Once contact has been made, the conversation turns to settling and collecting on the account. Collectors make between 100-150 calls a day to speak with 10-20 clients and (get this) close 1-5 deals.
In the duties section, it states they need to make at least 100 calls a day. In a typical 8 hour day, this translates into a call every 4-5 minutes. These people are salespeople, who are paid a commision for each account they settle on. Yes, they will settle. If you owe the debt, it will need to be paid.
But, for God's sake, do it on your terms. Not on yours.
Arm yourself with this information the next time a collector calls you. This is who you are dealing with.