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Collecting on Bad Debts
Old 03-07-2019, 04:07 PM
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Ghel Ghel is offline
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Join Date: May 2008
Location: Minnesota, US
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Default Collecting on Bad Debts

I'm a loan originator at a community bank. My initials are listed on our computer system for loans I originate. That means I'm the one who's supposed to follow up if the payment is late or there's other issues with a loan, such as if the insurance has lapsed or the real estate taxes aren't paid.

However, previous employees originated loans at my branch, then retired or quit. The initials on many of these loans have been changed to mine, and the responsibility for maintaining and collecting on these loans falls to me. One of these is Betty the Restaurateur (see the threads about her), but there's a handful of other loans that I would never have to collect on if the higher ups at the bank hadn't decided that suddenly they're my responsibility for no better reason than somebody at my branch originated them.

So today I'm asked to follow up on a dozen customers who haven't paid their property taxes. Only two of them are for loans that I actually originated. The rest are loans that I inherited from former coworkers. Some are loans that I would never have approved had I been the loan officer for that loan.

I get that somebody has to call customers when they're late on payments or real estate taxes. The only explanation as to why it has to be me is that I have a relationship with these customers, but I really don't. Most of them I'd never even spoken to until their loans became "my" loans. And if I can't get hold of the customers or if I can't get the customers to take responsibility for their debt, it reflects poorly on me. Even though I didn't approve the loan.

“We are the superhero. None of us, individually, but all of us together.”
― Hank Green
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Old 03-08-2019, 11:50 PM
TheSHAD0W TheSHAD0W is offline
Area Manager
Join Date: Jul 2008
Posts: 1,222

All you can do is do your best. If someone then gets on your case about "your loans" you can point out that they're not really yours. If it gets worse, start making noises about dropping them at your bosses' feet. Screw them if they're going to blame you for it.
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Old 03-09-2019, 02:32 AM
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MoonCat MoonCat is offline
I'm not bitter. I'm informed.
Join Date: Jun 2010
Location: Eastern US.
Posts: 7,771

That sucks. They should have a collections dept and be done with it.
When you start at zero, everything's progress.
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Old 03-10-2019, 12:39 PM
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ReverendBSB ReverendBSB is offline
Too old for this shi....
Join Date: Apr 2007
Posts: 265

I worked in the local showroom of a big BBQ online retailer. We had "Flags" for things to do like follow up with a customer you gave a quote to and when your customers had problems or concerns.

The part I hated was what happened to me all the time. I had the most working knowledge of the BBQ products from working in a locally owned store where I got to do everything from selling to repairing to installing, etc. Sp some customer would call their salesman with a problem and they would just flag it for me. No ask me what might be the issue and follow up themselves, just flag it for me and now its my problem to deal with until its finished.

Or when someone would call and I answer the phone. The customer wants to talk to her salesperson and they don't want to deal with it. Since he is the assistant manager he can do that and now its my problem. I tried to help this person for months with no help or even concern from the higher ups. Finally one day I came in after my day off to see my flags doubled for no reason other than others laziness and I just tossed my name tag down on the desk and walked out.
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Old 03-10-2019, 04:06 PM
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taxguykarl taxguykarl is offline
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Location: Chicagoland (South suburbs)
Posts: 3,764

Quoth MoonCat View Post
They should have a collections dept and be done with it.
Or someone higher on the organization's food chain as they would carry a bit more weight with the SC.
I'm trying to see things from your point of view, but I can't get my head that far up my keister!

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-Ayn Rand, Atlas Shrugged
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