One of the most persistent frustrations in consumer finance—especially with subprime portfolios—is figuring out how to educate customers about their financial responsibilities, credit behavior, or available support… when they won’t pick up the phone, reply to texts, or open emails.
Maybe the issue isn’t that they don’t care—maybe it’s that we’re not reaching them in the right way.
Consider the financial education required during Chapter 7 bankruptcy. This is a rare moment when we have a captive audience—education is mandatory both when filing and before discharge. The original intent, when this requirement launched in 2005, was meaningful: equip people to make better financial decisions going forward. Yet after years of listening to post-bankruptcy calls, I’m not convinced it’s working. I still hear, “I can’t afford the payment—when can I modify my loan?” That’s not just a gap in knowledge; it’s a breakdown in delivery.
Maybe timing isn’t everything. Maybe people don’t absorb information just because a system decides it’s the “right” moment. So instead of relying on the concept of a perfect “teachable moment,” what if we reimagined how we deliver financial education altogether?
Stop Expecting Them to Come to Class
Many consumers grew up with financial stress as the norm. People don’t want to be lectured. If we treat financial education like a classroom—“show up, listen to our advice, take notes, and change your habits”—we’re going to keep failing the very people we aim to support. What if education was disguised as a helpful tip, instead of a link to a finance manual.
Education that Doesn’t Feel like Education
They may not answer your call, but they’re still scrolling social media, watching YouTube, or playing games on their phone. It’s not just teens. It’s not just Millennials. It’s not just that one uncle who forwards conspiracy memes.
People of all ages, incomes, and credit scores are glued to their phones, happily watching videos that somehow manage to be both pointless and oddly comforting.
Could a YouTube series featuring real stories from other customers work better than a branded email? Could we partner with influencers in the financial literacy space—especially ones speaking from lived experience?
App Rewards
Think about the app reward programs you already use. There’s one coffee shop in particular that has absolutely nailed the art of behavior-based incentives—thanks to its star reward system. It might sound dramatic, but after dropping $200 on lattes and $500 on danishes (no regrets), I finally earned… a free coffee. And guess what? It still felt like a win. I’m living proof that it works.
Now imagine applying that same principle to personal finance. What if your credit card or loan had a reward program? Something like: make your minimum payment on time for 12 straight months and earn a bonus—maybe cash back, lower interest, or even a payment skip. Of course, your actual terms and conditions would need to allow it, but you get the idea. Financial habits can be shaped by incentives too—and the payoff might be even better than free coffee.
Train Staff to Educate in Every Interaction
Collectors and customer service reps (especially our frontline heroes—tellers!) might be the only real humans a customer ever talks to from your organization. That’s right—no bots, no hold music, just actual people. So why not make those moments count?
If your team is trained to casually drop helpful financial nuggets—without sounding like a lecture or judgmental aunt at Thanksgiving—they can spark trust and curiosity.
It’s like planting little seeds of money wisdom that could grow into full-blown financial confidence down the road.
Final Thought: Reimagine the Goal
Maybe the problem isn’t that customers aren’t listening—maybe it’s that we’re still talking in our language, on our schedule, through our favorite channels (hello, dusty pamphlets and awkward webinars).
If we really want to teach financial education, we’ve got to meet people where they are—not just in space and time, but in mindset and mood. That means leading with empathy before throwing out interest rate tips, and building trust before breaking down credit scores.
Because the real win?
It’s not just teaching people about money—it’s helping them feel like they can master it.
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Author: Bev Evancic
Bev.Evancic@ResourceManagement.com
Bev Evancic is a Senior Vice President at Resource Management Services, Inc. Prior to employment at RMS, Bev worked as the Collection and Recovery Manager at AT&T Universal Card, Citi, and Federated Department Stores. Bev started in the collection industry as a collector at an upscale clothing store in Cincinnati, Ohio. As a returned check and private label credit card collector, Bev gained a basic understanding of the collection industry that has not changed with the introduction of regulations. Her collection philosophy begins with the idea that businesses and customers benefit from preserving the customer relationship. First, collectors need to attempt to contact customers when it is convenient for the customer to discuss his/her financial condition and willingness/ability to pay. Second, you never collect money by intimidating or threatening customers. Third, businesses must make sure the debt is valid.
She has managed all phases of collection and recovery operations, including automated dialer units, bankruptcy, and legal units, skip tracing units, internal collections, outside collection agency networks, and Consumer Credit Counseling. As a Consultant for Resource Management Services, Inc., Bev has spearheaded collection and recovery best practices reviews for many top credit grantors. Her articles on dialer operations, agency management and bankruptcy best practices have been widely publicized.
She is well known and regarded as a specialty expert in the areas of: Repossession, Bankruptcy, Estate, Litigation, as well as Pre- and Post- Charge-off. Prior to joining Resource Management Services, Inc. in 1995, Bev managed the Recovery Department for AT&T Universal Card Services where she developed the bankruptcy, probate, internal and litigation processes.
She is the author of “Recovery Management: Collecting the Uncollectible Account.
