“I’m so excited about this month,” one of our Outside Sales Reps shared with me this morning.  “This is just one more reason for clients and prospects to want to do business with this collection agency.”

A new client emailed and shared her thoughts:  “Here are the executed forms to get jumpstarted. I’m glad that a percentage of the fees will go toward fighting breast cancer. My wife had that last year.”

We do this walk for selfish reasons really … we have family members of  employees within our company affected by this disease; there are no minimum fundraising requirements so all employees are more apt to walk and support this cause without a financial burden; and the American Cancer Society organizes these walks in the 3 cities our 3 main offices are in making it easier to get everyone involved across borders.

There are a million great charities we could choose to support and we try to touch a range throughout the year.  In doing so we hope that we find causes that mean a lot to a variety of you for your own “selfish” reasons. 

If this is a cause you want to support and you’re ready to reorder or ready to become a client – do so now!  You can contribute just by purchasing and know that 5% of your purchase is helping those affected by Breast Cancer “Celebrate more Birthdays.”  Want to do more?  You can join us and walk or donate on your own by visiting:  http://www.americanprofit.net/events-upcoming.htm

Check back in October for fundraising totals and pictures!

Unfortunately the craziness of the day can many times cause us to forget to do the little things – the things that make us stand out.  The extra Thank You email to an employee for the home made muffins they brought in or the card to the customer who got married this past weekend on the Cape – these little things fall to the list of  “would be nice to do” as opposed to “have to do before I can go home and enjoy this beautiful weather.”  Blogging usually falls on the latter.

On Thursday, our MA office had a Customer Service Training.  Now for me, this was the 3rd time I had sat through this same seminar.  Each year we feel its important for every employee to have this training because every employee touches our customers – internal and external – and Customer Service is a priority at APR.  So my challenge is always – what new piece of wisdom can I take from this?  This year it was something my manager said:  “Good gets in the way of great.” 

I’ve been told before my standards are too high (by many people actually in a variety of situations) yet I think its because I’ve always wanted people to want to be great – to not settle for just good.  By not doing more of the “would be nice to do’s”  I myself have fallen in the same pattern.  Sadly without really noticing it – this was my take away from this training. 

So my challenge this fall is to get back to great.   Will you join me and do the same?  How much nicer can we make one person’s day … how much easier can we make one person’s job … how much further can we push ourselves to do more?  I make time to blog so that I’m not settling for good – I’m striving to again accomplish great.  We all can be if we want to be.  So … ask yourselves – are you gonna settle for good … or be great?

I often wonder why it’s harder to get anything done at certain times of the year. Yes I get it. August is a huge vacation month. But unless you’re on vacation for the entire month, there’s no excuse to get some important matters taken care of. I think people just use this last month of the summer to put things off. You call someone to schedule a meeting; “let’s meet after Labor Day,” I often hear. Maybe I should embrace it…

Anyway, if there’s one thing you don’t want to be putting off its taking care of late paying customers. Before you know it, you’ve goofed off all summer and now you have outstanding invoices going back six months. If anyone reads this blog on a regular basis you’ll remember I warned you not to goof off right before Memorial Day. And now, summer is just about over so I’m checking in with you to see how you did. Did you goof off? Did you keep up on a regular schedule of chasing down past due invoices? Did you bring in a reputable collection agency? Example, American Profit Recovery…

The longer an invoice goes unpaid, the more difficult it is for you to recover. That’s a fact. Take it for someone who has been at a collection agency for a long time. Unless you keep up on chasing down unpaid invoices, you’ll find yourself nice and tan and relaxed but at the end of a summer with a cash flow problem.

So, before you head out for that long Labor Day weekend, take a look at your books and if you have a bunch of people that have not paid you yet, check in with them before you had out. You might be surprised at the result.

IAHPCC and APR share a common mission to enhance the lives of those in their industries through leadership, education and training. IAPHCC is affiliated with the manufacturers and suppliers in the state of Indiana and is also part of the national trade association. APR is a leader in the collection industry known for our proven success in debt collection. With APR working to recover monies owed on overdue accounts, IAPHCC members will hopefully thrive financially. APR’s diplomatic and ethical methods will also ensure clients maintain a strong customer base and a solid reputation in the community because we work diplomatically.

APR always looks forward to working with new customers and partnering with trade organizations. We are especially thrilled when we share common missions and goals. This not only creates the most successful outcome, it also works toward changing the stereotypes of those in the collection industry; something APR strives for each day.

There are many advantages to an organization such as a trade organization or business group to partner with this collection agency. Take a look at my talk below with our partner Matt Moskowitz.

Making Strides Against Breast Cancer is our largest charitable effort of the year at American Profit Recovery and one we take seriously. We at APR, our employees, clients, friends and families, all get involved each year to help make a difference.    Last year we raised over $12,000 and our Michigan office was one of the top 5 fundraising teams and APR has a goal of beating that.  We achieved our 2009 goal through straight pledges from you, employee participation in fund raising, and by APR donating 5% of the month’s sales proceeds to the event. We hope with this years continued participation we can top last year’s results. 

At the breakfast, there were a couple hundred people representing corporate sponsors, team leaders, individual fund raisers and cancer survivors.  Each speaker told their story of triumph over the disease or why they chose to get involved.  This year I was honored to have my Mom, an 11 year breast cancer survivor join me at the breakfast.  After losing my Dad to Cancer this May, the event this morning was extra special to us both. We were proud to be a part of a successful kick-off and are looking forward to walking in October.

APR will again be running company events where employees have the opportunity to donate to this event.  We have raffles, pay for casual dress and food events (yes, this collection agency likes to have fun).  We are also pleased to announce that once again 5% of all sales proceeds for a month leading up to the event will be donated.  But most of all we would love your participation in the walk.  Join our team on the walk day and have some fun while helping a great cause.  Each of our three locations will have a team of walkers.  Click on the links below for the location nearest you or you can simply donate to our team though the link also.  

Mass: http://main.acsevents.org/site/TR?team_id=742040&fr_id=28135&pg=team

Michigan: http://main.acsevents.org/site/TR?team_id=742028&fr_id=28045&pg=team

North Carolina: http://main.acsevents.org/site/TR?team_id=742033&fr_id=28174&pg=team

Saving lives from breast cancer starts one team, one walker, and one dollar at a time. Join us, and together we will create a world with less breast cancer and more birthday celebrations. Yeah, we’re a collection agency but there are some out there that would be surprised to learn that we all care.

We decided to ask our team about their experiences here at American Profit Recovery and do our own profiles. Our team was more than receptive to telling their stores and many were eager to get going.

Let’s point out a couple facts; There are bad apples in every industry. There are bad contractors, bad financial advisors, and unqualified plumbers and in every industry, there are the few that make their entire industry look bad. We get this.

But the collection industry gets more than their share of scrutiny and bad press. And yes, we understand why. The agencies they work for set no values, ethics or morals. What many are unaware of and quite frankly never told is that a collection agency can and does help small businesses stay in business. A good collection agency helps bring parties together to resolve a debt diplomatically, not with aggression. And a good collection agency actually helps consumers avoid further debt by helping them understand what they can afford on a regular basis to help cure their debt. And a good collection agency always treats everyone with respect and dignity.

I want you to spend a few minutes and read what some of our team members have to say about what they do and how they have helped both business and consumer. Their stories are below.

Conversations with collection agency employees –

The fact is that the consumers have done nothing wrong.  There is always an underlying REASON a bill goes unpaid.  Similarly, the call is not intended to make anyone feel bad.  The collection call is intended as a tool for discovery.  A tool designed to a.) unveil the consumer’s current situation, b.) discern the fundamental reason for nonpayment; and c.) aid the consumer in resolving the debt.

Many consumers experience guilt and embarrassment caused by the phenomenon of Cognitive Dissonance.  Cognitive Dissonance can lead to coping mechanisms such as anger, avoidance, and even null promises being made.  By understanding a consumer’s situation, the best collectors are able to acknowledge why they would be predisposed to justify the debt, point blame, or deny that it’s even owed.  Given these inclinations collectors must rise above the stereotypes cast upon them.  A debt collector’s most valuable assets are empathy, understanding, communication, and resolve.

The truth is that the disregard of a few, give everyone working in collections a bad reputation.  If it’s your goal as a Debt Collector to harass, abuse or belittle consumers then you 1.) don’t deserve to call yourself a Debt Collector, and 2.) need to realize that it is high time you find a different occupation.  The collection industry is simply not for you!

It never ceases to amaze me, as a debt collector, how many consumers are truly appreciative that you have helped them in some small way.  There are those individuals who instinctively, “just want to pay the whole thing right now:” It’s only after you analyze their debt to income ratio and qualify them for a much needed payment arrangement that they are grateful and realize what unnecessary hardship paying the entire balance off immediately could have and would have potentially caused them.

Here’s what one lady told me just yesterday.  We set her up on a biweekly payment plan to have the debt paid by December, she expressed “I’m glad to have creditors like you who help me to resolve these [bills],” Mrs. Moore, IN.  Another gentleman, Mr. Stewart, RI, is a small business owner who’s also been struggling in the current economic climate.  It only took about twenty five minutes and we were able to qualify him for a 3 month payment plan.  He says to me, “Everyone who I’ve talked to in your company has been so professional and you’ve really helped me out here.  I’d like to talk to you about my accounts receivable issues I’m having and have you represent me.”  Similarly, a woman called me just last week, her 60 day payment arrangement complete, and wanted to know if we were hiring.  Mrs. Rogers, MI remarked “I want to work for a company like yours.”

 These are just a few of the stories I have had the privilege to experience as of late.  Too often there is a negative “stigma” shrouding the good that collection agencies contribute to the community and economy at large.  I must confess.  Being a debt collector is, beyond a doubt, a rewarding career.

-Be fair.  Stay consistent in what you say and how you treat employees. 

-Set expectations from the beginning.  Be clear and communicate often about what is expected and acceptable.

-It is okay to say I don’t know.  As a manager you don’t need to know it all, just be willing to get an answer and promptly respond.

-Manage to your Team. What type of management style do they best respond to, and different individuals will respond to different types.

-Stay even tempered.  “Don’t let them see you sweat.”  Stay in control under all circumstances.

-Lead by example.  Get in the trenches and be an employee that you would want on your team. 

-Stay Positive.  Avoid being negative and help others avoid it also.

-Have confidence in yourself and in your decisions.  You are a manager for a reason. 

-Don’t avoid issues.  Communicate before things get too out of control.  

As a collection agency, we try hard to stay focused on our clients while making sure our team is well taken care of and at the top of their game. Our clients deserve it and the consumer deserves it.

Over the next few days I agonized over how I was going to put everything back together with the limited amount of money that my renters insurance company was going to give me. Everything I owned fit in the back of my car. I had no clothes, no furniture, and although I was grateful to have what I did, nothing that I had left  except for my iPod was really that important to my everyday existence. I returned to work after the smoke cleared (figuratively and literally) and was greeted by one of my coworkers in casual dress. I asked him how we got casual and he responded with “you will see.” I checked my email to see what I needed to do to get this benefit myself and saw nothing. When my manager Greg arrived I asked him what the deal was. He asked me to come in to the conference room and let me know that my coworkers had all chipped in money to donate to me to help replace some of my loss. I immediately began to well up with tears and had some trouble not balling (which I would later do on a conference call). It turns out that the amount that was raised was pretty significant and through the efforts of Jeff Spurgess we were able to use that money to get an amazing deal on enough furniture to significantly furnish my new apartment.

Never have I worked anywhere that had the amount of good hearted, generous people that American Profit Recovery does. I know I have already said thank you to many of you either in person or by email but my mother also wanted to find a way to say thanks.  She has been bragging to friends and family about the gesture but wanted to do something more, so she has donated $300 to Making Strides on our teams behalf.

Her and I would like to both say thank you to everyone for what they did. I am, as I have said on other occasions, very happy to call APR home and it makes me very proud to do what I do and be part of this great team. In an age where the stigma around our industry continues to grow, I feel confident that we are doing it the right way and do not represent the bad apples. Hopefully someone can see this and it will help further promote the industry and this company in a positive light.

Check out my new home:

My New Living Room

Employee week is an idea I borrowed from a friend who used to RAVE about where he worked.  When someone appears to like their job so much you have to just ask why?  His answer was simple – “they know how to treat their employees.”  So when HR became one of my responsibilities here at APR I thought – I want our employees to say the same thing.  And 4 years ago I started Employee Week.

The week has grown and evolved based on the feedback we get year to year and how our company continues to grow and mature.   This year for instance, we added the charity element.  We had the opportunity to pay money to see other employees dressed up as Uncle Sam (since our theme was All American.)  I think some employees paid more to NOT be Uncle Sam than others had to to get someone to be but in the end we raised almost $1,000 for Making Strides in 3 states.  A coworker looking hilarious while raising money for charity - what is better than that?

It was simple to get our ownership team on board from the beginning even though that required them cooking breakfast … doing a little manual labor … and even sharing some  embarassing high school pictures.  But one of the main reasons I came to work for APR is shown in their excitement and attitude about this week.   Although productivity may go down slightly … to see our teams interact and smile and laugh is obviously well worth to them and makes this company a place I want to work.

I knew this week achieved all that I had hoped when one of our employees mentioned that her friends saw pictures of her tagged on her Facebook Page from “all the fun stuff she get sto do at work.”  She agreed that she worked at a great company … you might even say one that knows how to treat their employees.  

Check out the video below to see some highlights from this year’s “All American” Employee Week!

However, many people may not qualify for a new loan when their credit scores or job history are taken into consideration. As always, a good credit history will give you a greater advantage. One of the first things a mortgage broker will find out is what your credit score is.

My time spent at a collection agency has helped me see the benefits afforded to consumers who properly manage their credit scores. Having good credit does matter and it is never too late to begin strengthening your credit score. Even if you have filed for bankruptcy, you can begin to rebuild your credit the day your case is closed. Simple, yet responsible habits like paying your bills on time, using only a small portion of your available credit and not applying for too much credit at once can give you a strong score and more opportunity. Properly managing your credit score will provide you with more chances to obtain a solid financial future.    

If are looking to refinance your mortgage at this time, be sure to consider the costs of refinancing against how long it will take you to recoup those costs. If you are not planning to be in your home long enough to recover expenditures, refinancing could be a bad idea. The longer you stay in your home exceeding the break-even point of your total refinancing costs, the more you will benefit. Be sure you are on the road to a solid financial future by properly managing your credit score in order to take advantage of unique prospects as the economy gets back on track.  

As always, pay your bills on time, make good on any financial commitment that you make and if you do get in trouble with paying your bills, don’t ignore the calls. You can work out arrangements to make payments and keep your credit intact, making it easier to refinance and do other things with your money and credit.

There were meetings on many compliance-related topics, question and answer sessions with industry savvy attorneys, as well as a trade show featuring many new technologies.  Perhaps the most eye-opening for me was a speech from the Commissioner of the FTC, Julie Brill.  She discussed a recent report to Congress focusing on debt collection litigation, which was titled “Repairing a Broken System.”  Her speech dealt primarily with identifying improper practices in litigation against consumers by debt collectors, but it took the tone of an admonishment of the entire debt collection industry.  Her speech became for me a reinforcement of how vital it is for us as debt collectors to stay proactive when it comes to compliance with collection law.  The public (and so it seems the government’s) perception of our industry is mostly negative, and the few debt collectors and agencies that do not comply to the laws have damaged the reputation of our industry and it’s vital economic role.  

Now more than ever, it is essential that debt collectors understand and properly interpret the law.  The debt collection industry is still governed by laws that sometimes refer specifically to out-of-date practices such as “collect calls” and “telegrams.”  The FDCPA has simply not adapted as fast as technology, and that has left for wide interpretations of current collection practices.  Those companies that resist change, and are not willing to alter their collection practices based on up to date court rulings are exposing themselves to litigation, as are the companies and collectors who practice unethical and unlawful collection tactics.  This helps foster a negative impression of the industry as a whole.

I believe our attendance at these conferences, and our continual education in compliance is vital.  Equally important is our continuing to update and practice policies and procedures that strictly follow the laws set forth in the FDCPA, and in some instances even exceed them.  I came home encouraged by the fact that American Profit Recovery is already an example of what is right with the debt collection industry, and am proud that we continue to take our responsibilities as legitimate debt collectors as seriously as we do.  I also believe that APR has made it a normal business practice to welcome and adapt to change when it comes to technology and legal compliance.  My thanks to Barry for inviting me to this year’s conference.  It was a great experience, and a lot of fun!

We always caution our clients to follow the laws when getting creative as a collection agency and others must follow these laws when trying to collect on a debt. As long as you are following the law, there are many things you can do internally to help you get paid a little quicker. Take a look at this article we found in the Wall Street Journal and then take a look inside your business and see what you can do to reevaluate your internal accounting procedures.

http://online.wsj.com/article/SB10001424052748703394204575367440017538312.html#articleTabs%3Darticle

She goes on to talk about how consumers have rights, something we totally agree with here at American Profit Recovery. We’ve always thought that way. Every consumer we call on should be treated with respect and that’s our way of doing business. Our entire company has pledged to treat everyone with respect and they proudly display that pledge at their desks. See the video here. http://www.youtube.com/watch?v=Hq65d-4gGRQ

While we do work hard to treat everyone with respect, we cannot lose sight that our job here is to keep a business afloat by improving their cash flow. The collection industry seems too often to be on the defensive due to those few bad apples. In fact, we as a collection agency return countless dollars to these businesses, many of the small businesses that absolutely need their cash flow to pay their bills including that of their worker’s salaries.

Read Ms. Anderson’s letter to the editor here for a more complete view of the ACA’s philosophy on debt collection.  http://www.miamiherald.com/2010/07/10/1724007/debt-collectors-arent-all-bad.html