Moral Hazard

As mortgage lenders continue to help borrowers stay in their homes it made me think of all the debt collectors that I know that love their job and do a great job collecting and at the same moment are helping the debtor and not fighting with them. The Wall Street Journal reports that mortgage companies have helped more than one million cash-strapped borrowers stay in their homes since the summer. Critics say the industry isn’t doing abundant to aid struggling homeowners.

As a debt collector you may be seeing more debtors on your list of accounts to signal as that situation worsens. We all take in about the debt collectors

that yell and swear and threaten to get paid, but do they get paid? Do you think strong arm tactics work better than helping folks realistically pay which helps ensure you actually get paid? I would think anyone who is breaking the law to gather their debts is doing that considering they don’t have suitable faith in themselves to be able to gather legally. I always looked at being a great bill collector as a challenge, and followed the law which was part of that challenge. I wanted to see how well I could do whether I did everything by the book.

Orginal post by Michelle Dunn

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