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.
Creditors Rights 101 
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