India’s kinder, gentler debt collectors nudge Americans to pay their bills
Outsourcing takes another symbolic
turn.
In a glass tower on the outskirts of New Delhi,
dozens of young Indians are on the telephone, calling out-of-work, forgetful and
debt-stricken Americans to ask for
cash.
“Are you sure that’s all you can afford?” one operator in a row of cubicles inquires politely.
“Well, how do you take care of your everyday expenses?” presses another.
Americans are used to receiving calls from India for insurance claims and credit card sales. But debt collection represents a growing business for outsourcing companies, especially as the U.S. economy slows and its consumers struggle to pay for their purchases.
Armed with a sophisticated automated system that dials tens of thousands of Americans every hour, and puts confidential information like Social Security numbers, addresses and credit history at the fingertips of operators, this new cadre of collectors is chasing down late car payments, overdue credit card debt and lapsed installment loans. Debt collectors in India often cost about one-quarter the price of their American counterparts, and are often better at the job, debt collection company executives say.
This is more than symbolic when you think about it. A developing nation functioning as bill collector from the world’s largest debtor nation.
“Are you sure that’s all you can afford?” one operator in a row of cubicles inquires politely.
“Well, how do you take care of your everyday expenses?” presses another.
Americans are used to receiving calls from India for insurance claims and credit card sales. But debt collection represents a growing business for outsourcing companies, especially as the U.S. economy slows and its consumers struggle to pay for their purchases.
Armed with a sophisticated automated system that dials tens of thousands of Americans every hour, and puts confidential information like Social Security numbers, addresses and credit history at the fingertips of operators, this new cadre of collectors is chasing down late car payments, overdue credit card debt and lapsed installment loans. Debt collectors in India often cost about one-quarter the price of their American counterparts, and are often better at the job, debt collection company executives say.
This is more than symbolic when you think about it. A developing nation functioning as bill collector from the world’s largest debtor nation.
Posted: Fri - April 25, 2008 at 09:15 AM