MSNBC just did an hour about credit card debt and the people trying to collect.  Just so you know, the “debt collectors” represented in this hour program are NOT….LET ME REPEAT…ARE NOT anyone that I work with, not does it represent what I do.  I work in client resolutions and my job is to help you (the card member) come to a solution about your debt.  It is not, and has not been our practice to intimidate, threaten or scare anyone into paying their debt.  And yes, at my bank…WE FOLLOW THE RULES!   We have to, if not we get fired, remember every call is recorded.  We are held accountable for every one of our calls. 

Another thing I have been hearing about Bank of America…if you are past due on your card, debt, whatever…they are telling you to call a debt solution company.  The problem with this is that the “debt solution” company wants you to include all of your debts regardless of status.  Meaning if you have a different card in perfectly good standing with an excellent APR, they want you to turn over that debt so that they can “settle”.  Unfortunately, the APR the debt solution company barters for, is more than what you had to begin with…so be careful.

Notice, MSNBC calls the “collector’s” in this hour a “second level debt company”, meaning it is out of the credit card industry itself.  Honestly, the people described in this one hour program deserve to be prosecuted, really it’s horrible and I have heard from people who are begging me to get these collections agencies to stop…but there is nothing I can do about it.  It’s just horrible, I can’t imagine doing or saying what these people say or do. 

I know, believe me, about debt.  Here is the thing I have a problem with.  One of the people MSNBC  portrayed on the show had a big Santa blow up in their front yard.  Now really?  Honestly?  There are so many ways to stop debt by not buying ridiculous things just to keep up with the “Jone’s”.  Another thing I noticed:  Purchases at “Target”.  The person said it was a grocery bill.  Really?  I mean really? What Target store do you know has groceries?  Yet another couple with three kids; putting them in their car seats in a newer vehicle…really do you need that payment?  Or could you sell it and get it a junker?

BTW, after you leave the sanctuary of your credit card company…meaning that we have tried to contact you for at least six months and longer, you are on your own.  For example…in my department, client resolutions, we try to contact you by phone, letter and e-mail letting making you aware that we can work out several different options to resolve your debt.  Even going so far as to settle the debt, sometimes for less than 50% of what you owe on the card.  We attempt to give you 0% for 60 months to pay off your card…but if you don’t respond there is nothing we can do but send it to an outside debt collection agency.  We want to help you, but so often, people don’t respond.  MSNBC is not going to tell you that though, they want to spin the “poor family” who hasn’t had any other chance.

Also, somehow the media thinks it is innocent.  With the cute family in the upstairs room with the fire fighter hat on top of the quilted blanket, with toys surrounding the family (oh and don’t forget about the coffee pot and espresso machine in the back ground).  Where do you think all those things came from?  Money earned and saved?  Or a credit card charged up to the max?  But you know, we have to show the “picture perfect” family in dire straits because of the big bad credit card company.