It’s boom-time in certain call centers in India, collecting debts instead of offering credit cards. [MSNBC] (tip Jennie via email)
Pay up, or else….
img: via The Age
If you owe money, there is no hiding from them. They’re 20-something, smart, attractive, well-educated and from middle-class backgrounds. They won’t bloody your nose, break your fingers or send you to sleep with the fish. They will ask politely but firmly. They will collect debts. Presenting the debt collectors from India.
As the American economy has taken a turn for the worse, more Americans are defaulting on loan and credit-card (is there a difference in the two) payments. As a result, Indian call centers are switching their modus operandi from offering loans to collecting them.
A few samples:
Bhumika Chatuvedi, 24, a.k.a Carol Miller
Customer: “My mortgage payments are just too high, honey. I just can’t make the payment this month, I’m sure y’all heard about the credit crunch and gas prices. I’m flat broke.”
Bhumika: “Ma’am, I am here to help you. Ma’am, maybe you could make a small payment, $100 or $50, anything that you can.”
Parul Malhotra, 25, a.k.a Michelle Jones
Parul: “How is the car running?”
Customer: “It’s a real piece of junk,It was in the shop. The electric’s all messed up. And I have no money now. Plus, we have an illness in the family.”
Parul: “Times are hard. I wish for everyone a speedy recovery. But let’s try to work out a payment.”
India handles about $16billion (about 5%) of mostly credit card related delinquent American accounts while mortgages and health insurance related accounts are still kept in house in the U.S. The collection business requires these 20-somethings to maintain their composure and appear firm yet compassionate.
“Lately, 25-year-old Americans are telling me that they are declaring themselves bankrupt,” said Chaturvedi, raising her eyebrows in shock. “These days the situation is so emotional, so fragile. We have to have so much empathy and patience.”
Aparup Sengupta, global chief executive officer and managing director of Aegis, encourages his debt collectors to use a “hospitable Indian touch,” meaning less arm-twisting and more emotional therapy.
“This businesses is a performing art,” said Sengupta. “We are part therapists because the core of the issue is that every human being wants to be honorable in life. We don’t just push someone into a bad situation. We try to create a real solution.”
On top of all these skills, these Indian call-center agents are also picking up important life lessons and financial literacy tips, ones that would also benefit most Americans.
Talking to so many anguished Americans has taught these agents an important lesson: Live within your means.
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