The Debt Collector Ep #5

Behind-The-Scenes November 03rd, 2017
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I was looking through some documents when a pop-up preview message flashed at the bottom right of my screen. It read, “Both the directors” of BCS was sued for bankruptcy by AA Bank (the names created were fictional for easy reference). I turned my attention towards the computer screen and called up the CRM system. I keyed-in “BCS” and hit the search button. The screen returned BCS information within a second. The account status indicated “arrears” in payment. I search through their records and noticed that they still have four months of repayment left to settle their loan. The total payable is slightly over $36,000 and to be completed by October. I continued to scroll down the page and it indicated that the outstanding payment is due for the month of July.

Intuitively, I clicked on the contact page. I picked up the phone and started calling one of the directors. The line got connected, “The user that you are trying to reach is currently unavailable to take your call. Please call back later or leave a voice message after you hear the ‘beep’ sound.” Beep, the sound of the voice messaging coming through now, I hung up my phone. I tried the other numbers as shown on my screen and gotten the same result. “Are they shunning away from all their creditors?”, thinking to myself. I should try calling them again later. It was two months later, in September, my efforts finally paid off. I invited them to MoolahSense to sort things out.

It’s the day for our long-awaited meeting, we get together to find out more about their financial distress. They turned out to be an honest man and wife. They shared with us the challenges that they faced. We had a good progress and they promised that they will make a small payment in the afternoon and signed a promissory note too. In the afternoon, I switched on my CRM system and saw a total of $2,000 was credited to our account. This action helps to elevate our confidence towards them.

However, after the initial repayment of $2,000, there was no further payment. I rang them again and they asked for an extension until month end to repay all the outstanding loan. I seek for management approval and their request was granted.

Time passes quickly and it was the end of October. I logged on to their account and noted that they have credited a total that is slightly more than $36,000 into our account. This is a great news to us.

Even though that they were being sued for bankruptcy, I realized they are unlike many other defaulters. This is the case where we do not need to issue a statutory demand to request for them to pay the outstanding loan. I believed they tried their best to meet ends need.