Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 9, 2008 7:51:35 AM CDT

Learn about Newser Points »

Back to the grid

Indian Phone Banks Tackle US Debt Collection

Posted Apr 24, 08 2:20 PM CDT in US,  World    Editor's Choice

(Newser) – As individuals' debt grows in a tough economy, US debt-collection agencies are expanding into India, where collectors work more cheaply—and are often better, the New York Times reports. Indian collectors are “very polite, very respectful, and they don’t raise their voice,” says one CEO. And a big payout in India can be a quarter of the salary American collectors expect.

With $51 billion in debt rounded up in 2005, collection is big business. And though only about 5% of the collections business has spread overseas, the trend is growing. It can take dozens of calls to pin down a single client, but heavy commissions and intensive training keep collectors plugging away.

Source New York Times

Editor Recommended

Related News

  • India's IT Hub Challenging Politics as Usual

    May 20, 08 3:01 PM CDT
    India's IT Hub Challenging Politics as Usual For years, Bangalore—India’s answer to Silicon Valley—has endured traffic jams, power blackouts and a chaotic airport that businesses blame on politicians who’ve ignored the city’s IT elites to court rural voters. Now, Reuters reports, an updated constituency map giving urban voters more clout has hope high for change after state elections end Thursday. More »

  • India: Solution to US Health Crisis

    Mar 28, 08 2:32 PM CDT
    India: Solution to US Health Crisis India is a top destination for uninsured Americans needing major surgery, the Chicago Tribune reports, with prices up to 85% lower than US rates. Last year, India welcomed 150,000 medical tourists, the Chicago Tribune reports—and now, HMOs want a piece of those savings. “Employers may soon follow in the footsteps of individuals,” a recent American Medical Association report concluded. More »

  • US May Move to Restrict H-1B Visa 'Cheaters'

    Mar 7, 08 8:11 PM CST
    US May Move to Restrict H-1B Visa 'Cheaters' The US is expecting a record number of applications for H-1B visas—given to highly skilled, specialized foreign workers—and is considering rules to penalize companies that try to improve their chances, ComputerWorld reports. Desperate firms have been known to send more than one application—123, 480 were received last year; 65,000 are awarded—for the same individual to increase odds of being selected. More »

  • Infosys Profits Up 26% This Quarter

    Jan 11, 08 2:21 PM CST
    Infosys Profits Up 26% This Quarter Infosys saw its profit go up 25.6% int the October to December quarter, the Indian company said Friday. It credited tax refunds and new outsourcing jobs: the company added 47 clients, including an unnamed European bank and a global brokerage firm, reports AP. Infosys raised its 2007 revenue forecast slightly, but not enough to match investors’ expectations, and its shares dropped by 1.3%. More »

  • Pregnancies Outsourced to India

    Dec 31, 07 6:54 AM CST
    Pregnancies Outsourced to India A town in India, where more than 50 women are currently pregnant with the children of Western couples, has hatched a booming industry in commercial surrogacy, dubbed "wombs for rent." The women in Anand have been impregnated with the sperm and eggs of US, British and other couples unable to conceive—and are paid more than many of them earn in 15 years. They live together and are monitored at the clinic during their pregnancies, which have produced 40 babies to date. More »

Indian call centers are increasingly handling US debt collection.   (KRT Photos)
Indian call centers are increasingly handling US debt collection.   (KRT Photos)
Indian call centers are increasingly handling US debt collection.   (KRT Photos)
prev    next
play

Threads (1 of 4)

Tags

India  • outsourcing  • consumer debt


Loading...

Loading...

Related Threads: India, Indian Outsourcing, Is It Recession?

Next story from this section »

Today's Most Popular


Other World Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »