This week I was locked up in the Metropolitan Remand Centre - talking to the inmates about their finances.
Upon my release, I went straight to the pub, sauntered up to the bar and said, "Gimme a beer love, I just got out of jail".
The amber nectar never tasted so good, even though my sentence was served in a little over three hours.
Still, it was a stressful experience, from being sprayed for drugs to having my retina scanned to getting patted down.
After all the paperwork that was involved, I was half expecting the screws to find an unpaid parking fine from the 90s..."well, well, well, what 'ave we got 'ere then?"
Once I made it inside the jail (which looked remarkably like it does in the movies), I reached the youth remand unit, where the male prisoners aged between 18 and 24 are housed. My arrival was met with quizzical, if somewhat threatening stares. One inmate sneered, "What are you going to do mate, diversify my portfolio?"
I took my place in the enclosed sunshine and to my surprise it didn't take long before a group of young inmates gathered around if for no other reason than them being a captive audience (note to Brendan Nelson, there could be something in this for you.)
Some of the guys were eager to share with me their own wealth-creation strategies from selling drugs and laundering money to the tricks of hiding the proceeds. It takes a certain amount of intelligence and cunning to conjure up these illegal ventures. Had they used their street smarts another way, they could have been up-and-coming executives at Macquarie Bank by now.
As they told these stories, they didn't make the connection that these so-called strategies were the very handcuffs that denied them their freedom. Few seemed to be able to get their head around the peace of mind that comes from earning an honest buck. They were quickly becoming institutionalised - sadly, at the start of their lives.
I've learnt from experience that attempting to motivate people with deep-seated grievances is usually a waste of time. The only way to reach them is to focus on the people they care about: their kids, partners and parents. I asked them to think about how their actions are affecting the ones they love.
I told a father among the group that he was a deadbeat Dad. I asked another bloke how he felt about leaving his mother to be continually harassed by debt collectors because of his wrongdoings.
No response.
Here they were locked up, doing nothing. Why not spend a couple of hours actually achieving something? I urged them to put personal pride aside and at least give it a go for the sake of their families.
My main focus (for those who would listen anyway) was to get them to take control of their debts. Most of the inmates had racked up large amounts of debt on credit cards, mobile phones and consumer credit debts.
Being locked up meant they were not earning anything (other than the small amount they get for being in the clink).
As a result, their bills weren't being paid, and consequently the debt collectors were at their (loved ones') doors.
Beneath the tough exterior, I'm sure that sitting in the cell in the middle of the night these guys can pinpoint the actions that led them to the lock up and wish they'd done things differently.
It's the same deal with their debts, in fact, anyone's debts.
The first rule in dealing with a debt collector is to take control before your situation gets out of hand. Far too often, people with multiple creditors effectively put their head in the sand and hope it will all go away.
If you're having trouble paying your bills, take action. Before the bill is due, ring the company and explain your situation. Ask whether you can set up a schedule of smaller repayments. Whatever the outcome, ensure you keep detailed notes of the conversation.
This might sound obvious, but you'd be shocked at how many people skip over this first step. In most cases, a creditor is happy to grant a customer additional time to repay - it's the cheapest way of recovering the debt they're owed.
Having failed to do this, these guys' credit history was starting to mirror their criminal history. Having been locked up by the cops, the other enforcers - the debt collectors - were now catching up with them.
Debt collecting is no longer a game of muscle for goons banging down doors. Today's money chaser works elbow deep in a call centre, dialling for debt-dollars.
I explained that these outfits either represent the company that has called in your debt, or else have bought your debt and are now the legal owner of the outstanding money.
I've had clients who have been continually harassed by debt collectors, both in person and on the phone. It's their business to make you feel intimidated. Don't buy into it. Debt collectors do not have the same powers as police officers or sheriffs.
When you owe money you have rights. There are laws controlling the behaviour of debt collectors and lenders.
In less than a couple of phone calls, the guys could have their credit rap sheet sent to them, and be taking the first step to getting square.
If you have debt collectors calling you, check your records. Get the company to send you a statement detailing what you owe. If your debt relates to a loan, you're legally entitled to access copies of your loan contract.
Next, take a look at all your debts and make sure you deal with the necessities first - food and shelter, then the car, then everything else.
Before you commit to paying a debt collector, make an appointment with a not-for-profit community-based financial counsellor. Out-of-control debt isn't just an issue for prisoners. Many of us are imprisoned by our possessions. With record personal debts and rising home defaults, growing numbers of Australians are facing troubled times.
My experience has shown me that only when you take responsibility for your situation, and develop a plan, is when you start to get square.
Tread your own path!