Creditors, sending debtors on a ‘wild goose chase’ and finally filing a legal case…unacceptable!
There is a very clear message of hope that a debtor feeds off when they approach creditors for remedial, i.e. consolidation and/or buyout.
They have approached your organization for key reasons, where I am also very aware of underhanded debtors, these are not the one’s referred to:
They have taken ownership and responsibility for their liabilities;
They wish to correct their situation so they can affordably repay their EMI’s and debt;
If they have approached you it means they have already ensured they are legally qualified to be approved by the evaluation policies, i.e.
They have a valid visa;
They have a valid passport;
They have a valid Emirates ID;
Therefore they are employed;
They also have authentic 3m bank statements, in business owner’s cases, 6months.
Their monthly salary can be confirmed, which means they have the ability to repay their debt, they only need concession to reduce their EMI’s to further ensure they are in line with the DBR regulation of 50% of their salary to be repaid towards monthly EMI’s;
In the interim, the only interest the creditor representative has is securing the current EMI to meet their targets, promising the debtor that if they make this payment that a restructure will be presented for review and approval, fooling the gullible desperate debtor.
Only, once this EMI is paid, the account is allocated to the next team of collectors and the same process is repeated and pertaining to the restructure, simply, nobody knows and nobody is prepared to take responsibility for this request, in spite of being escalated by the remedial company to the management in charge;
Just maybe they have attempted to pay partial EMI’s monthly since losing their previous employment and secured a new one, but had to compromise on a reduced salary; or they secured the same salary but unable to ‘catch-up’ on their default EMI’s;
They have already approached your organization, their creditor, with no response, either submitting all requested official documentation with no response from you and their pleas falling on deaf ears, whilst in the background the delinquency continues to demand the voice of the creditor pushing them for delinquent EMI’s, whilst they assume they are starting to gain the trust of creditors, because you then give them hope and convince them with promises, but all you want is their current EMI, so you can shirk your responsibility and move onto the next account.
In sheer desperation after being informed that their cheques will be presented to the bank where they know it will bounce with legal repercussions, they resort to seeking help from a remedial company, which could be referenced through ‘word of mouth’, but they continue to hold onto their hope and faith that they will emerge avoiding legal action, being able to afford repaying their EMI’s and finally, their debt;
Many times the remedial company presenting authorized documentation representing the debtor is refused by the creditor, in some instances the creditor demands a POA (Power of Attorney), will not accept an LOA (Letter of Authority) and will not even directly contact the debtor to discuss the remedial request, so the debtor’s cheque is presented and finally bounces and the creditor files a legal case;
Perhaps, when the creditor holds this picture in their mind and for a second just imagines the roles were reversed, and then my question is, how would you react?
You don’t think you violated the debtor’s rights when they were asking for help?
How is it even possible that you can justify your actions as correct with some form of lame excuse that holds no water, i.e.
The customer does not qualify;
The customer should not have approached a 3rd party;
The customer is informed that once the legal case is filed the 3rd party will not be supporting them at this time, this is relayed to the customer by the judgmental creditor;
The customer is questioned as to why they approached a 3rd party and why they are paying them fees for nothing;
Mr. Creditor, when will you understand that for the past few years, the world has evolved around kindness, reaching a helping hand and doing whatever is possible to help another human if you are in a position of strength?
When will you also realise that remedial is the only way forward to recover money, but then I cannot expect you to understand this, because you are too busy building up resistance towards money, so it simply cannot come the way you are dreaming about.
When will you realise that:
It is not about your position or inflated ego, because you are not infallible;
It is not about where the customer went after leaving your premises, because they did not get the help they sought from you;
If a customer presents themselves to you and they submit every document and information you requested, that you have a moral bound duty to perform and not walk away, or apply legal action?
When will you realise that you will position yourself in a better place if you are able to avoid your customers from facing legal action and then simultaneously protecting your organization’s assets;
When will you realise that if you continue this way you will end up having no job and therefore, no salary;
When will you realise everyone connected and happiness for all is key?
When will you realise you are not an island, your salary does not come from thin air, but the people you push away, could help keep you in your job!
When will you realise that not all customers have to end up with legal action, most of the time you were in a position to help, but you chose to look the other way and walk away;
So finally, when will you also realise that the customer also has rights, it’s called Consumer Protection Rights, so realise it is their prerogative to persue this right, it’s not your place to say yay or nay.
You refuted your rights when you walked away thinking the problem would disappear, like I said, we live in a different world today, time for a wake-up call.
There never has to be unpleasantness and all people don’t always have to face wrath, just some people don’t really care about how their negative and mean actions adversely affect the lives of others who are genuinely asking for their help.
There is no excuse in the book when you are able to tender that help and not only recover your organizations assets, but help another human being transform their life, because it really costs zero, only your salary and your commitment to your duty.