A Day In The Life of a Payday Loan Collector

Payday Loan Collections
Payday Loan Collections

By Frank at PaydayLoanCollections.com: “I empathize with our collection people. It’s a cubicle job in a call center. Our collectors average 192 calls per shift and are lucky to get 8 delinquent borrowers to stay on the phone with them. Those borrowers who do talk to our collectors are PISSED! We have to track them down. The job really sucks. Collectors earn bonus money on what they collect but it’s brutal.  It’s a tough way to make a living  and few payday loan collectors are good enough at it to earn their bonus money. Many of my collectors are in debt to other payday loan lenders. They’re as bad off as the borrowers they’re calling.”

“Our collection center employee turnover is unreal. Collectors are issued ID cards by my IT department. Collectors are simply  a number to us. IT has collectors swipe their cards, take their photo, and have them enter a PIN number. This enables payday loan collectors to log into a PC, get their phone extension, clock in, and access the building (all doors are of course controlled ingress). Their email is “TheirExtension@collections.PaydayLoanCollector.com. The extension is the number on the ID card.”

“The ID cards do not have their names or their picture. If they lose the card, they’re terminated if they fail to memorize their number on their ID card.”

“After 90 days, they get a real ID, which also provides them with an email address with their name on it! Nirvana!”

The #1 goal of a payday loan collector is to FOCUS on collecting money from you NO MATTER HOW BROKE YOU ARE.”

4 thoughts on “A Day In The Life of a Payday Loan Collector

    1. Don’t misunderstand. Most collectors are using payday loans to get to the end of their month. They work hard and do give borrowers a break when they can. They completely understand the borrower’s situation. Collectors have to balance their employer’s requirements with the borrower’s perspective.
      Anonymous Payday Loan Insider

  1. “Many of my collectors are in debt to other payday loan lenders. They’re as bad off as the borrowers they’re calling.”

    Ain’t that the truth! I too am a payday loan collector. I’m no longer surprised to review a delinquent borrower’s account and notice she works for a payday loan company I’m trying to collect money for. They know ALL the tricks :-)

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