October 2001

Reprinted from the Wall Street Journal Online, by Marc Lifsher.

CARACAS, Venezuela - It was a typical day at the clothing boutique in a middle-class neighborhood here. But outside, a diabolical surprise was in store.

A jacked-up hot-rod truck, with a blaring siren and pulsating dome light, screeched to a halt on the sidewalk. Bursting out the back door was a hulking fellow wearing a devil's mask and carrying an oversize attache case sporting the words "Deadbeat Collections." Accompanying him were a woman in a red miniskirt, a four-foot-tall Great Dane and a lawyer in a business suit.

The strange entouragetrailed by a television news crewentered the shop and cornered the manager. With the devil glaring and the dog barking, the lawyer informed her: "You have an appointment with Dr. Diablo."

The Caracas store was having an encounter with Venezuela's most bizarre and possibly its most effective debt collection agency. "Dr. Diablo" is the creation of lawyer and advertising executive Rodrigo Herrera. Mr. Herrera has fine-tuned a system that uses shame, intimidation and the threat of being visited by his "Mobile Anti-Deadbeat Command" to collect debts ranging from a few hundred dollars to tens of thousands.

"It's just a way of reminding people that they owe me money," says Mr. Herrera, with rare understatement. "We are the devils of justice."

Don't let your customers put a scare into you this month!

Meet The Gang: Larry Dishaw

FULL NAME: Lawrence Dishaw

POSITION: Collection Manager, Jackson

LENGTH OF TIME IN THAT POSITION: 6 1/2 years

PREVIOUS EXPERIENCE IN THIS FIELD: Collection Manager at Jacobson's Stores, Inc.

FAVORITE ASPECT OF THE JOB: Collecting more money than last year, doing a great job.

LEAST FAVORITE ASPECT OF THE JOB: Finding out a client has not reported payments paid directly to them.

GREATEST SUCCESS AT THIS JOB: Helping a couple who literally had thousands of dollars in medical bills. We contacted the hospital and insurance companies for them to get the debts paid. When we were done the consumers debts were paid in full. The consumers and the hospital were grateful.

QUALITY YOU MOST ADMIRE IN A PERSON: Honesty

IF YOU COULD HAVE ANOTHER JOB: It would be called "RETIREMENT!"

COLLEGE: Saginaw Valley University

AGE: 51

MOST RECENT BOOK READ: An Explanation of the Letters of James and Peter (Biblical)

MARITAL STATUS: Single

CHILDREN: 2. Brian, junior at MSU, and Jenny, freshman at Saginaw Valley University

COMMUNITY INVOLVEMENT/ACTIVITIES: Work with Rotary at Michigan International Speedway driving a tram.

HOMETOWN: Bay City, MI

HIGH SCHOOL: Bay City Central

Movin' On Up!

Congratulations to several people in our organization who have shown they have what it takes to get the job done!

• Jennifer Roth-Emkow has moved from Front Office reception to Systems Coordinator.
• Halina has moved from Front Office coordinator to Client Sales and Service Support.
• Karen S. Coffey has moved from collector to Collection Supervisor.

All three employees are in our Ann Arbor office and they look forward to working with all our clients and customers. Along with all our other staff who do a wonderful job day in and day out, we wish to congratulate them again!

College Students and Credit Cards

If you've been to a college campus lately, you probably know that credit card companies are making a concerted effort to get students hooked on debt. In fact, chances are much more likely that your kid will be applying for a credit card rather than a spot in Economics 101.

While they're not old enough to buy beer, an 18-year-old college freshman often has little trouble securing a credit card in his or her name. What's morethey're not afraid to use their plastic. The average undergraduate left college last year with more than $2,000 in credit card debt. To keep your kids from earning a black mark on their credit record, teach them these smart money management tips:

• Be Responsible - Make sure your kids understand the importance of paying their bills on time. Getting in the habit of letting bills slide can result in late charges, higher interest rates and a damaged credit report.
• Shop Smart - One reason why studentsand adultsget into credit trouble is because it's often all too easy to buy a large-ticket item with the intention of paying it off over time. It only takes one or two large purchases before they're looking at a credit card bill with more numbers than their area code and interest charges that could pay for a month's worth of late-night pizzas. Teach your kids to avoid piling on the debt by budgeting for large purchases before they make them, and by paying as much as they can over the monthly minimum when they are forced to carry a balance. Of course, the smartest move your kids can make is to use a credit card only for emergencies and to use cash or a debit card to pay for day-to-day purchases. (Debit cards, unlike credit cards, are linked directly to your kids' checking accounts, which means that they can't spend more money than they have.)
• Keep Your Credit Record Clean - Unlike college professors who can sometimes be convinced into providing extensions for overdue term papers, credit card companies expect to be paid on time all of the time. Consistent late paymentsor skipping a payment or twocan seriously affect your child's credit rating and ability to secure future car or home loans. To ensure that your kids get all of the credit they deserve, teach them to check their credit report at least once per year to make sure there are no black marks or mistakes.
• Get the Best Rates - College campuses are flooded by credit card companies offering low introductory rates for students willing to open new accounts. A close look at the fine print, however, often reveals that these "teaser rates" increase substantially after the first six months, which means higher interest payments.

Quicken.com Money Matters Newsletter,
August 2001

Credit 101
People don't care how much you know, until they know how much you...collect
Protect your kid's financial future.

High Payment of the Month

High payment honors go to Rob Scharf, Collection Manager of our Ann Arbor office this month. He helped bring in a $10,730.18 payment for a regional utility company!! Congratulations Rob!!

Seminars

Successful Collection Skills II
Gain the collection skills you need - and want - to have. A half-day seminar full of important tips and techniques

Friday, October 19, 8:30am - 12:30pm
Holiday Inn, 3600 Plymouth Rd., Ann Arbor
$75.00 per person

Call today (800-710-4821) for more information.

Our Offices

Adrian Credit Bureau
(517) 265-8161

Ann Arbor Credit Bureau
(734) 665-6173
(800) 710-4821

Jackson Credit Bureau
(517) 787-5333
(877) 787-6273
Our Offices

Saginaw Credit Bureau
(989) 799-3800

Welcome to Our New Clients

_ Jackson Country Club
_ Forever-Green Lawn & Landscaping
_ Borchart Brothers
_ Promed Uniforms
_ Telephone Jack's
_ Holly's Showcase
_ Dr. Upadyay
_ Women's Health of Lenawee
_ Dy Dee Diaper
_ M-CareFord
_ U-Store of South Lyon
_ Mayflower Auto Transport
_ Sakstrup Towing
_ Grant's Auto & Truck Repair
_ Tri-Star Enterprise
_ AA HI St. Joseph Mercy Hosp.
_ South Lyon Alternative Ed.
_ GMACSalary
_ DelphiSalary

The Credit Bureau family wishes to send our thoughts and prayers to all those victims affected by the events that unfolded in New York City, Pennsylvania and Washington, DC last month. God bless them and our resilient nation.
Have a Safe and Happy Halloween this Year!

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Ann Arbor Credit Bureau, Inc.
311 N. Main   Ann Arbor, Michigan   48104
800.710.4821     734.665.6173
info@a2cb.com