5 delinquent borrower objections (and how to overcome them)

When it comes to paying bills, some people have a million excuses (both valid and invalid) for skirting their obligations. Unfortunately, lenders constantly deal with borrowers’ excuses when it comes time to pay up. Here’s some guidance for responding to common collections objections and recouping the money you’re rightfully owed.

1. “I don’t know what you’re talking about.”

Claiming a debt doesn’t exist is a common response to a collections call, and it could be that the borrower truly does not recall the debt. Refresh the borrower’s memory by offering a detailed account of exactly what the loan was used for when the money was borrowed, and what dates any payments were made or missed. Remind the borrower that his or her signature appears on the loan documents.

2. “My parents were supposed to pay that loan.”

Young adults often don’t understand that financial adulthood begins at age 18. They are responsible for loans in their name, even if their parents had agreed to pay in their place. Here’s how to structure this conversation:


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