Creditors, we are regressing again….

Theda Muller

One would think that lessons have been learnt from mid-2015, but again we are witnessing old bad habits of collections representatives surfacing again, consistently victimizing debtors who have a valid reason for requesting remedial consideration for their liabilities, of which some reasons are:

1. They foresee that in the very near future, maybe in 1months time, they would not be able to meet their EMI’s, specifically SME’s and other business owners;

2. Their family borrowed them funds to clear all of their liabilities, where they try to secure reasonable discounts, but they are turned away and ignored;

3. They’ve already restructured 1-2years ago, and need consideration again, evident from their bank statements inflow and outflow, where stringent due diligence is applied prior to requesting such consideration;

4. Such requests are delayed for months, finally the client makes partial payments, but is not immune from facing legal action simply because the representative very frankly informs the customer that they don’t have to consider another remedial request, they are a prominent financial institution who can secure their outstanding dues by any means! Since when does your father own your organization? Therefore, I have no qualms escalating such incidences, because tough lessons must be learnt, especially when self-inflicted!

5. Abusing and victimizing debtors at their office premises or place of employ is again out of control and out of line, for sure their managers are unaware of their very bad ethics and disrespect conducted at these premises. Do you not care if the employee is terminated because of your continuous visits and victimization?

6. Debtors being informed that their remedial request is approved and a few days later, informed that it is declined, demanding the outstanding overdues and whilst this is the creditors right, there is absolutely no consideration, integrity or decency applied during this process, it’s like they’re not dealing with a human being;

7. Reassuring a customer that if they pay 1 overdue EMI, then remedial will be considered, but in the background the guarantee cheque is presented to their bank, bounces and legal action filed, unbeknown to the customer, who was promised no legal action will be taken whilst the remedial request is pending!

Collections representatives, if you continue this way, there will be no income contributed from your end and you won’t have a job, simple! What comes around goes around, when you plant bad seed and treat people badly, because you think you are immune to never facing such situations, then I have a huge surprise for you, i.e. “what you sow, you surely reap”.

a. It’s not nice to act like a king when you are driven so badly by targets that you exist in your delusional bubble, believing that you have the power to enjoy seeing your customers beg, bend over backwards, plead, degrade and humiliate their human dignity for your pleasure, it’s called a mental illness, so you need dire help!

b. There’s something huge called self-respect, learn to acquire this, because it will serve you. When you cannot respect others, then you don’t respect yourself.

c. Being humane, speaking to someone in a very decent manner, without being abusive, rude or obnoxious, costs you zero, so my advice is to try it for a day and see your day change, see how successful you will be in trying to achieve your targets. Learn that the most powerful methods to achieve success in anything we wish, is to be decent, kind, civil, respectful and to try and make someone’s day. Displaying a bad attitude towards others most days, means there is something wrong in your own life, look deeper and try to correct that problem, because what is inside, always surfaces on the outside.

d. If your customer can be assisted, then do the right thing, assist, because you should be experienced enough to know whether you see ‘red flags’ or not, and if you don’t, then there is no need to take your frustrations out on your customer, just because you can.

e. When a customer’s salary is credited to their salary account, where a salary loan EMI is debited monthly, but the EMI is very high, resulting in the customer’s DBR exceeding 50% and the customer requests a restructure, has never been delinquent for obvious reasons, but now has additional expenses, then it makes no sense to decline such a request, because the customer’s DBR is high, if the customer’s remaining liabilities are also being restructured, to achieve a 50% DBR objective. Just because the loan is up to date and you are assured of the monthly salary credit, does not mean you can be arrogant, decline to review the request, or just decline and ignore any cries of help. Everyone faces extra expenses at no notice, that’s life, but if the customer has been loyal to date, then it is your duty to review and consider their request, it’s not a favour, but their right for a review.

My question is finally, why must we resort to escalating the case to your senior management who most of the time review and approve, perhaps with a few variables or conditions, but the doors are hardly ever shut. Nobody advances in their career or life making someone else’s life miserable, so did you never understand why you don’t advance and they have advanced to where they are?

Do me a favour, look at happy people who sincerely create a bubble around themselves that is contagious and makes other want to be just as happy, or as they exist in the office, home, with friends, they have a serenity and peaceful happiness about them, why? Because they created it, they learnt how to channel their positivity for their benefit and they know that this means inner empowerment and the ability to create harmony wherever they go, where success, abundance, prosperity, advancement and achieving their desires, is a natural progression, because that is how it works.

True leaders who foster happiness, get to enjoy the success they created, because they have understood that there is no other way. So, if you don’t understand how to change yourself and your attitude to change your life and those lives around you, then study a leader you admire and model that person, to be the change you wish to see in the world. You cannot just amble through life existing, you must make that existence significant and meaningful, to enjoy the fruits you desire.

Learn to respect all people, if you can’t help anyone to get up, then rather walk away than be mean and inflict pain on others that don’t deserve your wrath.

Note 1:  Theda Muller is a UAE-based author of two books: Embrace Financial Freedom Volume One: 10 Proven Ways To Release Debt And Emotional Fears In Today’s Economy, and Volume Two: Releasing Fear And Bouncing Back From A Debt Crisis. She is also the CEO & Co-Founder of the remedial company EFFRS LLC, Dubai. She also conducts webinars and workshops on debt recovery.]

[Note 2: The views expressed are the author’s own and do not reflect in any way, the views of Emirates 24|7. Readers are advised to carry out their own due diligence before taking any decision.]

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