How to handle a call from a collection agency-Fox News

Debt Collection Agency

With scores of people falling behind on debts, now’s the perfect time to start a debt collection agency, which requires little more than a phone and a computer. You’ll help retailers, hospitals, and credit card companies recover money they’re owed, and in return you’ll get a percentage of the collected debt.

Before starting, you need to fully understand the Fair Debt Collection Practices Act. Also research state and local regulations, such as licensing. Though not required, training or a degree in business or finance may add credibility to your company. Finally, realize that debt collection requires a certain amount of finesse, empathy, and resolve.

How to handle a call from a collection agency. One of the most popular consumer questions today. Our own Jeff DiMatteo, a partner in collection agency American Profit Recovery talks to Fox News about how to handle a communication from a collection agency and the dos and don'ts of resolving debt.

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  1. Kathy Madden says

    I cannot thank you enough  I am on disability and I am terrified to answer my house phone and my cell phone…..I don’t even have a clue as to what they want????/   I just got involved because they now used a local number and when I called back the automated service message said  from the NRA  then I found out from the good customer service rep told me that was a farce  It was AGA     COLLECTIONS

  2. Taurus Girl says

    Quite possibly one of the most telling videos I have ever seen. Only Fox News would  actually try to make sense of the role of these bottom feeders in our society, and actually give them a public forum. WOW. lol  Even the guy knows he should not have been up there! That is why he looked so uncomfortable! Who knows how many people his company has harassed, intimidated , or even scammed! The notion that these debt collectors are working for the originators is simply misleading. Most of the time, even if the debt is valid, the account is sold to third party collection agencies who pay the creditors a fraction, and they turn around and try to extort you for more than they actually paid. So, unlike suggested in this video, the money is not going back to the original creditor who often writes the debt off, but rather rip offs looking to capitalize on people’s financial misfortune! Disgusting.

  3. ExtrovertedCenobite says

    Jeff Dimatteo, Partner, American Profit Recovery.

    Jeff is a bottom feeder and he knows it.

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