Brennan & Clark LLC – How Debt Collectors Work

We have been very vocal here in the past about people who are in debt which they cannot manage and the importance of the fact that they should deal with debt collection agencies should they come knocking.

In most cases the potential contact with these agences emerges negative emotions in people. Debt violations contacted with names of some dominant companies in the industry, such as Transworld Systems Inc, MCM agency, CBE Group, can be considered the main cause of this kind of association. As evidence of this can be served multiple MCM debt collections reviews in which it is stated different deviations from defined debt collection process. People are getting more and more sceptical towards the activity of these agencies. 

Many of you have actually posted questions about who debt collection agencies are and whether or not they are all actually attached to the original lender. To help us answer these queries we had a chat with the team at Brennan & Clark LLC to find out more about what debt collectors are and why they exist, as well as dispelling some popular myths about these organizations. 

A Win For Everyone

Debt collectors are able to provide everyone with a win by hovering somewhere in-between creditor and lender. Let’s say that person A owes the bank $10,000 and they cannot pay it back, the bank then has a choice, they can chase up the money, investing resources and time into doing so, and at the end of the day they may get a small amount of that money back before the debt is eventually wiped out for non-payment. Alternatively they could then sell that debt to the collection agency for, let’s say $7,000, this gets the bank some money and they can wash their hands with it. 

For the debt collection agency now, they can look at getting at least that $7,000 back, but they will likely be pushing for closer to $8,500. In order to do this they can offer the person who owes the money a heavy discount for a one-time payment or a sensible repayment plan with the interest frozen.


It is important to remember that most banks don’t have a debt collection division, this after all is not their specialty. In terms of a debt collection agency however they are fully invested in this, it is their bread and butter, which is why they are able to give maximum attention to the chasing up of debts. Debt collection companies have much more incentive to get the debt back of course, which is why there letters and calls will be more frequent than the banks, and it is also why they’d make the time to go in front of a judge for repossession powers, whereas a bank is unlikely to make that time. 


Contrary to what many believe a debt collector is not some mean group of men looking to rip your house from under you if you don’t pay, they are actually on hand to help the person get themselves out of debt. If those calls and that communication is ignored then of course the debt collections companies will have to take steps which may lead to the likes of repossession but we have to remember that this is usually the final straw after trying many other avenues, and this in reality is something which they really don’t want to have to do. 

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