This Is Why We’re In A Recession, Part 89

, , , , , | Right | November 1, 2019

(I work in a collections call center and we get variations of this almost daily.)

Me: “Thank you for calling. All calls are recorded. How can I assist you today”?

Customer: “Hi. I had a loan a few years ago and I am trying to take another one and it isn’t letting me.”

Me: “Let me look into that for you.” *does so* “It appears that you had a loan with us back in 2015 that was settled for 50% of the balance.”

(For reference, any loan that isn’t fully settled makes them ineligible for another due to regulations, though we cannot tell them this directly.)

Customer: “Yeah, and when I try to get another it keeps getting denied.”

Me: “Even though we closed the loan and will no longer pursue the remaining balance, it will still show a balance in the system.”

(Usually, this is enough for smarter customers to understand that they aren’t going to be approved.)

Customer: “I just want another loan.”

Me: “Sir, even though we closed the loan, it was not paid back in full; it will always say you have an unpaid balance.”

Customer: “No, I paid it in full. I have a letter.”

Me: “You settled the loan, so you have a settlement letter, but this was not paid in full and will never show paid in full.”

Customer: “I don’t understand. I have a letter.”

Me: “Please feel free to reapply; if the loan is denied you will get a letter in the mail telling you why.”

Related:
This Is Why We’re In A Recession, Part 88
This Is Why We’re In A Recession, Part 87
This Is Why We’re In A Recession, Turning It Up To Eleven

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