The Six Ds of Debt Collection

I went to Bankruptcy Court yesterday with a real collections expert. I won’t reveal name or age, but I’ll say this: he was telling me a story involving accepting weekly payments of 50 cents on a $50 judgment.  (That means he’s been doing this a very long time.)

While waiting for Court to start, he told me about the Six “D”s of Collection. When a borrower veers into one of these, you’re far more likely to be dealing with a bad account:

  • Death
  • Divorce
  • Drugs
  • Dice (All forms of gambling)
  • Diamonds (High rollers)
  • Doctors and Dentists

Some of these are obvious, and some might be offensive (sorry, Dr. Nickels), but all make sense.

And heaven help you if you just loaned money to a plastic surgeon with a weak heart who is celebrating his recent divorce with a trip to Las Vegas with an all inclusive stay at the Bellagio.

Author: David

I am a creditors rights and commercial litigation attorney in Nashville, Tennessee.

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