CBS News) October 4, 2013: TULSA, Okla. - Nurse Lori Factor from Tecumseh, Okla., could be anyone of the 35 million Americans who owe money to a collection agency.
The only difference is that Lori loves her debt collector.
Lori recalls him once telling her, "I'm here to help you."
"I just felt like, "OK, maybe I can get out of this mess,'" said Lori.
Because when Lori's hours got cut at work, she fell behind on her bills.
Part of that debt was turned over to a new collection agency in Tulsa called CFS-2.
Inside it looks like any other collection agency -- but if you listen in on the calls, you realize it's not.
The company is owned by Bill Bartmann. Bartmann operates on the basic premise that people in debt -- don't have money. So why brow beat 'em?
Bill says he does not hire debt collectors. Instead, he hires people with customer care experience. And rewards them -- not for how much money they bring in -- but for how many free services they provide.
The goal is to get debtors back on their feet -- be it through government assistance, housing, even helping build resumes.
Bill says his company will even fill out the application and schedule the interview for their clients.
"Because if I can get you out of debt, you will have more money to pay me later," said Bill.
He started this as an experiment about a year ago. And the results are now in.
Bill says he is making 200 percent more than his competitors just by being nice.
What's even crazier is that one local university president was so impressed with what Bartmann is doing here, he nominated him for the 2014 Nobel Peace Prize.
It's a long shot, of course, but customers like Lori are hopeful.
His company helped her by renegotiating all her debts -- not just the one she had with CFS2 -- and did it all for free.
Today, everything is paid off.
"I'm just so thankful, I really am," said Lori. Although if you look in her eyes you can tell, she's clearly still indebted.
12 Comments
eric3579That's amazing and hard to believe. BRAVO! *promote
siftbotPromoting this video and sending it back into the queue for one more try; last queued Monday, October 21st, 2013 11:30am PDT - promote requested by eric3579.
JanuariAbsolutely brilliant... and yet i have to agree... hard to believe.
lucky760Brilliant is the only word that comes to mind. I welled up there a little.
There are a couple of good people out there. Aren't there?
lucky760*quality
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brycewi19Hmm, makes me want to consider changing the debt collector my business uses.
Amazing!
PaybackHis way takes a lot more effort than "regular" collection agents, that's mostly why the other don't do it. Collection agents are lazy.
poolcleanerTake that greedy assholes! I'm the asshole's asshole. I help the helpless assholes.
EvilDeathBeeIt's no surprise he'd be doing better than other debt collectors. Someone's literally incapable of paying you back, rather than hound them to death, why not help them earn some more money, then they can pay you back! SHOCKING!
CelebrateApathysays...From Wikipedia:
William R. (Bill) Bartmann is a consumer advocate and the founder and CEO of CFS2, Inc, a debt-collection company based in Tulsa, OK. Previously he was the founder and CEO of Commercial Financial Services Inc, a debt collection company based in Tulsa, OK that operated from 1986 to 1999.
What this video doesn't talk about is the original CFS, also founded by Bartmann. I used to work for that company, for 2 days. The original CFS was not, in any way, a nice company. Agents were required to stand during all calls so that they would have the mental upper-hand while berating the people they were attempting collection from. This included threats of contacting current employers, personal attacks and even attacks relating to an individuals ability sustain their family. This was the training I received and why I only worked there 2 days.
I have no doubt that this video accurately portrays the people and the tactics they use now but make no mistake, they only do things this way because they have decided it is more financially viable. This is not altruism, it was simply a winning business tactic.
Brilliant is the only word that comes to mind. I welled up there a little.
There are a couple of good people out there. Aren't there?
compassionate-debt-collectionActually I have an even better suggestion heard from a friend today ~ Start your own debt collection agency, (easily done actually) Buy the debts from the credit collection agencies (subsidized by crowdfunding and philanthropy) and then discharge the debt altogether. I have heard this is already happening and people are breaking down in tears when they are being called on the phone and told their debt has been absolved.
Bill Bartmann may be a good guy but his company is still collecting money from people who are struggling whichever way you slice it.
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