Fair Debt

Lex Patterson

Unlocking Possibilities...In each episode, we delve deep into all things debt collection with some of the brightest and most forward-thinking, paradigm-busting minds in the business. Intimate, deep, and often intense, these are not interviews. They are conversations. Connections from various perspectives designed to provoke, educate, inspire and empower you to discover, uncover, unlock and unleash new possibilities.
Episode 13 Employee Engagement and the Game of Work
Charles “Chuck” Coonradt is Founder and CEO of The Game of Work, which was founded in 1973, and dedicated to the success of its corporate clients. Graduate of Michigan State University and internationally recognized in the fields of goal setting and profit improvement, as an author, consultant, and speaker. His five best-selling books The Game of Work, The Better People Leader, Scorekeeping For Success, Managing The Obvious, and The Four Laws of Financial Prosperity have been labeled management “must reads”, and most recently Forbes Magazine called Chuck “The Grandfather of Gamification”.  He is a contributing author to multiple editions of the best-selling Chicken Soup for the Soul series and is quoted in dozens of other books.  Chuck is very involved in educating the next generation of business leaders and is a founding member of the School of Entrepreneurship, Brigham Young University.  His community involvement includes being a Board Member for Habitat for Humanity, as well as a former Board Member for the Utah Winter Sports Alliance, and a volunteer at the 2002 Winter Olympics.            The Game of Work’s client list includes many Fortune 500 companies, as well as other nationally and internationally recognized firms. Companies that have successfully utilized and implemented Chuck’s unique concepts include Pepsi, US Postal Service, General Foods, Leslie’s Poolmart, Nordstrom, The US Air Force, Boeing, American Express, Marker Bindings, Molina Healthcare, Coca-Cola Consolidated, The Chicago Tribune, Coors Brewing and International Paper. Chuck has also spoken for organizations worldwide, including Petco, Microsoft, SkyWest Airlines, Time Warner Cable and YPO (Young Presidents Organization).  Over one million executives, managers, and supervisors on five continents have been exposed to Chuck’s ideas on feedback, scorekeeping, goal setting, coaching, personal choice and accountability.            What you'll learn about in this episodeWhy can ten people with a basketball and a hoop achieve teamwork, goal directed activity, and become a well managed team in a matter of minutes during a lunch break, but those same ten people can totally fail to achieve that kind of harmony on the job.   My guest today Chuck Coonradt is the founder of The Game of Work, a company that teaches executives how to turn business into a game by keeping score. Chuck is one of the world’s leading measurement experts.    In this episode we’re going to dive into this question and many others surrounding employee engagement, performance and the game of work. How to measure what you want more ofHow to create clearly defined goalsHow to provide better feedback and more consistent coaching using a higher degree of personal choiceResources:    Websites: http://www.gameofwork.com/ LinkedIn Personal:https://www.linkedin.com/in/chuckcoonradt/Twitter: https://twitter.com/ChuckCoonradtAdditional Resources:Gallup 2020 Employee Engagement Poll
2d ago
1 hr 5 mins
Episode 12 The Data behind The Great Resignation
Ian CookAs the VP of People Analytics at Visier Ian is responsible for overall direction and growth of Visier's People Analytics solutions.Focus is internally on opportunities for developments to Visier's own set of products. And externally on identifying the right GTM partners.Visier is currently the market leader in the People Analytics industry and the purpose of his role is to extend this position and drive growth for the business.What you'll learn about in this episode  As the pandemic wears on, a new challenge has emerged on the business front. A shift in a contract between companies and their most precious resource, people.  “The Great Resignation” as it’s been called.  Employees are rethinking what they want from their job and the number of people willing to make a change has been on the increase for months.   Will this awakening, reset and Resignation impact the Debt collection space? What’s causing this shift?How can companies adapt to these changes?Who is most at risk, and what does the future look like?   In this episode we’ll dive into these questions with Ian Cook, a recognized and capable people leader with broad experience in driving organizational growth using employee metrics, and  machine learning,  to provide insight and understanding to lead transformational change.Resources:    Websites: https://www.visier.com/ Company LinkedIn:  https://www.linkedin.com/company/visier-analytics/ LinkedIn: Personal: https://www.linkedin.com/in/ianjcook/Twitter https://twitter.com/visier?s=20Additional Resources:https://hbr.org/2021/09/who-is-driving-the-great-resignationAristotle ProjectThe Great Reshuffle LinkedIn CEO Ryan Roslansky Atlantic Magazine The Great Resignation is Accelerating Was The Great Resignation InevitableZippia Collector DemographicsThe impact of collective trust on company performance study - Sandra RobinsonEdelman Trust ResearchHow to Mitigate Employee BurnoutMcKinsey Report Women in the Workplace
Jan 11 2022
1 hr 9 mins
E11 Holiday Mixtape
Dec 14 2021
48 mins
Episode 10 Dead Reckoning with Mike Ginsberg
Mike Ginsberg is president and CEO of Kaulkin Ginsberg, providing M&A and strategic advisory expertise to the accounts receivable management industry for since 1991. Mike is also co-founder of Topline Valuation Group, providing ARM owners and executives with much-needed technical, financial, benchmarking, and operational services designed to improve decisions at the corporate and operational levels. Since 1991, Kaulkin Ginsberg Company has been dedicated to advising owners and executives of outsourced business services (OBS) companies on how best to achieve their growth and exit objectives. Their client-centric approach covers almost every stage of a company’s lifecycle and enables them to maintain longstanding relationships as trusted advisors. Kaulkin Ginsberg offers an array of services to ensure that its clients’ needs are met, such as strategic consulting, transaction advisory and valuation services.What you'll learn about in this episodeIn navigation, dead reckoning is the process of calculating your current position of some moving object by using a previously determined position, or fix, and then incorporating estimations of speed, heading direction, and course over elapsed time.As change continues to usher in the future, I believe it can be beneficial to pause and reflect on that change that is happening in an effort to prepare for the future.  In this episode we’ll cover a lot of ground  as I connect with Industry veteran and thought leader Mike Ginsberg to dissect trends in the debt economy, the impact of stimulus moves by the Fed, Industry consolidation, and what the agency of the future looks like.  Join Mike and I as we take an objective look into the industry today and the impact the last 2 years has had on debt collection.  We’ll also take a look into the proverbial crystal ball to speculate what may be on the horizon, and  discuss our viewpoints based on over 50 years of collective industry experience.  Additional Resources:How will consumers spend their stimulus checks?The Kaulkin Report
Nov 17 2021
1 hr 14 mins
Episode 9 An Inside Look at Regulation F
Joann Needleman leads the firm’s financial services regulatory and compliance practice and advises banks, financial institutions, and financial services entities on regulatory compliance matters.Joann prepares and represents these same financial institutions during state and federal supervisory examinations and regulatory investigations before agencies such as the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC) and the Office of the Comptroller of Currency (OCC) as well as state financial services regulators and attorneys general.A former member of the Consumer Financial Protection Bureau’s (CFPB) Consumer Advisory Board, Joann provides her clients with useful strategies and common-sense solutions in order to prepare for areas of regulatory scrutiny.Joann is the host of the podcast “Credit Ecosystem to Go: Curbside Thought Leadership for Financial Services.” Listen to recent episodes here. What you’ll learn about in this episode: The Consumer Financial Protection Bureau issued a final rule to restate and clarify prohibitions on harassment and abuse, false or misleading representations, and unfair practices by debt collectors when collecting consumer debt. The rule focuses on debt collection communications and gives consumers more control over how often and through what means debt collectors can communicate with them regarding their debts.The rule is the result of a deliberative, thoughtful process spanning more than seven years and reflects engagement with consumer advocates, debt collectors, and other stakeholders. In developing the final rule, the Bureau considered the more than 14,000 comments received during the public comment and rulemaking process.   Our guest today Joann Needleman has played an important part in this process throughout the 7 year journey. In this episode Joann tells the inside story of the process to update  the final rule.  We talk about the potential risks and new opportunities in the rule including consumer preference, and using Email and SMS Text to open preferred digital communication channels.  FInally we speculate what the landscape will look like  as the new rule take effect November 30th and beyond.Resources:    Websites: clarkhill.com  martindale.com/Joann-Needleman/4298575-lawyer.htm  martindale.com/Maurice-Needleman-PC/4812612-law-firm-office.htm      Company LinkedIn:  https://www.linkedin.com/company/clark-hill-law/ LinkedIn: Personal: linkedin.com/in/joannneedlemanTwitter jneedlemanAdditional Resources:Demystifying the debt collection rule Credit Eco To GoCFPB Debt Collection Rule Small Entity Guide
Nov 2 2021
1 hr 7 mins
Episode 8 The Dance of the Scorpion
Jeremy Ruth serves as the Sr. Director of Default Account Servicing for Arvest bank. He has been with the bank for 20 years and has experienced the bank’s growth from $2.5B to over $20B in asset size. He oversaw the transition to a centralized collection environment, while emphasizing customer service, compliance, and performance throughout the collection cycle. Responsibilities include early stage through post charge off collections and recovery for direct consumer, indirect auto, small business/commercial credits, equipment finance/leasing, as well as overdrawn and charged off deposit accounts. Bankruptcy, repossession, foreclosure, loss mitigation, third party collections, vendor management and quality control functions are within scope of his responsibilities. Jeremy has a Bachelor of Business Administration with a concentration in management and a Marketing minor.What you’ll learn about in this episodeThe CFPB’s 653-page final rule Regulation F opens the door to interact with consumers across all forms of electronic communications including SMS text, email, and social media messaging.  However, as these communication options are opening up, consumers can still become confused when they are contacted by a company they don’t know, and a telephone number they don’t recognize. This along with disclosure regulation causes a phenomenon called the Dance of the scorpions.  Where a consumer is suspicious of giving information due to fraud or being scammed, and the debt collection agent needing to verify the information to make sure they are disclosing the information about the debt to the proper person.A concept introduced in the final rule is a concept of a handoff letter. The handoff letter is sent by the creditor and must “clearly and conspicuously” disclose that the debt has or will be transferred to a debt collection company.  Jeremy’s company was among the first to embrace this concept and test the results. In this episode he will share how they went about implementing the handoff letter, the results they documented as a result of this process, as well as lessons learned and next steps.Resources:    Website: https://www.arvest.com/    Company LinkedIn:  https://www.linkedin.com/company/arvest-bank/    Email:  jruth@arvest.com   LinkedIn: Personal: https://www.linkedin.com/in/jeremy-ruth/Jeremy’s Podcast The Mayo and Mustard ShowAdditional Resources:Handshake Highlights PDF
Oct 19 2021
47 mins
Episode 7 Outside The Medical Debt Box
According to CBS News Customers at Credit Karma carried an additional $2.2 billion in overdue medical debt from January 2020 through March 2021, reaching about $47 billion in total — the highest point in at least 16 months. Overdue medical bills are also impacting more people, Credit Karma also found that an additional 2.5 million people saw their medical debt enter collections since the pandemic started. In this episode, we talk about healthcare receivables and an out-of-the-box approach to some of the issues surrounding healthcare debt.   In 2014 two former debt collection executives, Craig Antico and Jerry Ashton founded a company called RIP Medical Debt.Their website mentions they’ve helped over 2.5 million people abolish 4 billion dollars of medical debt and that number is growing every day.  With so much medical debt and increasing healthcare costs, we need out-of-the-box solutions. Craig shares insight into healthcare debt, why it makes sense to embrace additional options in how to handle the debt, and lessons learned in their journey.Guest: Craig AnticoCraig Antico is the co-founder of  RIP Medical Debt, the national charity that has acquired and abolished over $5 billion in unpayable medical debt for over three million people since 2014. Craig understands the ins and outs of the debt collection industry because he was a financial industry leader in collections, debt buying, and outsourcing for 30-years! After completing his undergraduate degree at Florida Southern College in finance and economics, Craig went on to Pace University for his MBA in finance. His decades of experience include working for IBM, Johnson & Johnson, and several Fortune 100 companies.Purchasing medical debts to then abolish them, the core of RIP’s work, didn’t cross Craig’s mind until a chance introduction facilitated by his long-time partner in the debt collection industry – and RIP co-founder – Jerry Ashton. Jerry had connected with a group of activists that wanted to cancel debts as a charitable good using donated funds. Realizing the depth and scope of medical debt’s burden on already struggling Americans, Craig and Jerry resolved to start a nonprofit to champion this cause.After a hard road learning how to raise money, Craig and Jerry got their big break in 2016 when producers from the HBO series, Last Week Tonight with John Oliver, inquired about the show’s host purchasing and eliminating medical debt for an upcoming episode. Thanks to RIP’s guidance, John Oliver abolished $15 million in debt on a segment that has been watched by over fifteen million people.Craig has appeared on NBC Nightly News with Lester Holt, PBS Newshour, and many other media outlets, including over 50 local TV stations throughout the country. The New York Times, The Guardian, Forbes, AARP, The Washington Post, and many others have published articles about Antico and RIP Medical Debt.  He is the author of the book “End Medical Debt,” now in its second edition. Resources:    Website: https://ripmedicaldebt.org/    Company LinkedIn:  https://www.linkedin.com/company/rip-medical-debt/    Email:  cjantico@gmail.com   LinkedIn: Personal: https://www.linkedin.com/in/antico/Additional Resources:RIP Medical Debt Story2021 US Census Medical Debt in America Report" rel="nofollow">
Oct 5 2021
52 mins
Episode 6 It All Starts With A Conversation
Guest: Debbie Frank CEO Credit Bureau Service llcCredit Bureau Services is known for being a collection agency that is passionate about helping people become debt-free.Her company has been in business for over eighty years. She is the fourth owner and the first woman to have the opportunity to lead the company in the collection industry.She loves being a business owner and has an entrepreneurial spirit approach when it comes to business, leadership, and working in the Accounts Receivable Management (ARM) industry.In her eighteen years in the industry, she has held various positions at the state level serving as a past president of the Missouri Collectors Association and is currently serving on their board of directors.  She also currently serves on the ACA Financial Literacy Committee, as their committee chairperson, and a Council of Delegate member representing the state of Missouri.  Her most prideful accomplishment has been in 2019  when the agency was named as One of the Top Ten Most Innovative Collection Agencies by Receivable Magazine.What you’ll learn about in this episode:Our discussion with Debbie centers on Financial Literacy or financial wellness as she calls it.  Her company tagline says it all  “Doing Work That Matters Where we live, lead, and care about helping people achieve financial peace.”  In our discussion with Debbie, you’ll learn about interesting ideas and processes to transform your collectors into “Relationship Specialists” or “Change Agents” and empower them to do more than just take payments. Debbie shares stories about the impact financial education has on the lives of consumers, employees, and her organization.  Resources:    Website: https://www.creditbureauservicesinc.com/    Company LinkedIn:  https://www.linkedin.com/company/credit-bureau-services-llc/    Email:  dfrank@creditbureauservicesinc.com   LinkedIn: Personal: linkedin.com/in/debbie-frank-474ba23bAdditional Resources:ACA Magazine Article:  Breaking through the misinformation Hazehttp://online.collector.com/collectormagazine/202104/index.php#/p/26www.knowmydebt.comKnowledge Source
Sep 21 2021
38 mins
Episode 5 Wisdom and Change
Linda Russell was raised in the collection business. The debt collection agency she ran—CollectionCenter Inc., based in Rawlins, Wyoming started by her father, Clyde Cox, in 1919. Her 1991 ACA International presidency represented a couple of firsts. She was the first woman to hold the office, the first association member from Wyoming to serve as president, and the first ACA president to appear on CNN in her first week of office. Collection Center now run by her son Dan is celebrating 102 years in business.What you’ll learn about in this episode: “The accounts receivable management industry has changed a lot since Linda began collecting door to door. In this episode Linda shares some stories about what it takes to create a centennial culture as her company just surpassed 102 years in business quite a milestone in any business, but especially for a collection agency. During our discussion, we talk about what's changed and how mindset, attitude, and the personal touch remain keystones in building a business that lasts.”  Core principles for building a centennial culture and loyalty that lasts over generations.How Linda’s door-to-door collections led to improved phone collections.What’s changed and what hasn’t in Debt CollectionsThe inside scoop on her journey of becoming the first woman ACA President and testifying before Congress on behalf of the industry and the FDCPA.Resources:Website: https://www.mycollectioncenter.com/Email: larcci@aol.comLinkedIn: Company https://www.linkedin.com/company/collectioncenter-inc/LinkedIn: Personal https://www.linkedin.com/in/linda-russell-78050824/Additional Resources:ACA International Article
Sep 7 2021
29 mins
Episode 4 Benchmarking Groups
Harry Strausser III is a second-generation collection veteran having held the position of President of two successful collection firms until the sale of those firms in May 2017.  Throughout his career Harry was active in the Mid-Atlantic Collectors Association where he served as President, and ACA International, Inc., the association of credit and collection professionals, in which he is a Senior Certified Trainer. He has served on the ACA International Executive Committee and held the position of President in 2004-2005. He currently holds the position of President of Applied Innovation, a software company that serves the ARM space.He holds an MA in communication from Bloomsburg University of Pennsylvania and a BS in business administration from the same institution. He has served as a full-time adjunct professor for the Department of Communication Studies at Bloomsburg University where he taught interpersonal communication, public speaking, and corporate communication. As a sought-after industry speaker, he has traveled extensively across the United States and internationally during which he has conducted over 1000 educational and motivational programs for associations, private enterprises, conferences, and public seminar events.Harry enjoys travel, music, working outdoors at his home, and spending time with his family and two golden retrievers, Tindaqwae (Tin- Dah-Quay) and Luna.What you’ll learn about in this episode: “The accounts receivable management industry is dominated by small, privately held companies which make finding broad benchmarking data difficult because there is little public financial data available and few companies are willing to part with sensitive financial data.”  Key benefits and strongest elements of a benchmark group.How to overcome the dynamics of trust with small to midsize agenciesHow to go about starting or finding the right groupSteps and what you should and shouldn't doSIze of the group and size of the companiesHarry shares valuable insights he’s gained from years of experience.KPIs the good and the badBenchmarking reports you should seek right nowResources:Website: https://www.appliedinnovationinc.com/Email: hstrausser@appliedinnovationinc.comLinkedIn: Company https://www.linkedin.com/company/applied-innovation-inc-/LinkedIn: Personal https://www.linkedin.com/in/harry-strausser-iii-7413106/Additional Resources:IBIS World Debt Collection Industry InfoACA International Research Center Info
Aug 17 2021
50 mins
Episode 3 The Secret Weapon
Guest: Pat HutchinsCEO/Founder Financial Data SystemsPat attended East Carolina University where he also began his career in debt collection at Online CollectionsHe loves spending time with his lovely wife, Kim and 2 beautiful kids McCallum and Helen Grace although both kids are in college, and friends boating/beaching, fishing, exercising and golf.  He’s a very lucky dude!What you’ll learn about in this episode: Pat’s lifetime experience in debt collection and the candid discussion present many nuggets as we deep dive into Medical collection from Pat’s perspective. We discuss how to develop a collector mindset, and what Pat calls his secret weapon as well as collection techniques to keep payments flowing. Techniques for improved collections, it’s the little things…Learn how Pat turned consumer interaction and customer service into a vital part of his Brand.Learn how to cultivate the right culture, find and hire rockstarsMany nuggets about finding your niche and building a successful agency.Resources:Website: https://www.fdscredit.com/Email: phutch@fdscredit.comLinkedIn: Company https://www.linkedin.com/company/financial-data-systems-the-receivables-specialists/LinkedIn: Personal https://www.linkedin.com/in/pat-hutchins-48789630/Additional Resources:Collector Job stats: https://www.zippia.com/debt-collector-jobs/demographics/Adam Grant Wharton College Research on motivating employees:  https://knowledge.wharton.upenn.edu/article/putting-a-face-to-a-name-the-art-of-motivating-employees/
Aug 3 2021
37 mins
Episode 2 Connection is Currency
Mary Shores is a second-generation collection agency owner, a bestselling author, and an international speaker. Her current passion in life is promoting collector training and development through The Collection Advantage online training program, which features Mary’s extensive studies into neuroscience and compassion to teach collectors how to execute high-converting, empathetic scripting.What you’ll learn about in this episode:  There’s a shift in brand awareness and transparency, especially with the pandemic.  Learn about how companies can get the right message out there to be on the right side of change.How changing your mindset will position your company for growthLearn what differentiates successful debt collection companies from the restLearn how to cultivate the right culture, find and hire rockstarsLearn about the psychological burden of debt and how can we move forward to make sure we’re evolving our practices to meet the new normal that revolves around emotions and why we should invest in human capital.Resources:Website: https://www.maryshores.com/Email:  mary@maryshores.comLinkedIn:Company http://www.midstatecollections.com/LinkedIn: Personal https://www.linkedin.com/in/shoresmary/Additional Resources: 3 Pivots to better collections  The Biggest Secret in CollectionsOvercoming the Stigma   3 Keys to Establish Credibility in the New Normal Attracting your next Rockstar  Use This to Write Your Next Collector Job AdOnward Nation’s Stephen Woessner gave a good research link on this topic and I’ll share that again here for listeners  https://www.edelman.com/research/the-action-mandate-for-brandsThe Biggest Secret in Collections3 Keys to Establish Credibility in the New NormalUse This to Write Your Next Collector Job Ad
Jul 13 2021
39 mins
Pilot Episode 1 The Collector
Guest: Bethany Robertson  Debt Recovery Solutions of  OhioVice President, co-owner, and founder of Debt Recovery Solutions of Ohio, Inc. since 2002 where her vision and passion for strategy continues to push the company to new heights. Bethany earned her BA in Business Administration from Mt Vernon Nazarene University in Mt Vernon, Ohio while simultaneously running her own collection agency. Her passions include her love of God and family – especially her two children, Jake and Magey. She is also dedicated to inspiring others to reach their potential and constantly working on being a better version of herself. Growth in all aspects of her personal and professional life is her daily focus, but she truly loves the simple things in life: a stroll on the beach or in the woods, a great challenging and deep conversation, or a lazy nap on the dock. These are the ways she enjoys spending her time reflecting, living and loving. One of Bethany’s favorite quotes is from Maya Angelou and it touches on something that she has had to rely on in her life: her own courage. “Courage is the most important of all the virtues because without courage you can’t practice any other virtue consistently. You can practice any virtue erratically, but nothing consistently without courage”.What you'll learn about in this episode: The debt collection business revolves around getting the right person to engage in a conversation around resolving a past due bill. How this conversation happens is under constant scrutiny, because of the changes in technology, consumer preference, and regulations governing this process.  In this pilot episode, Bethany and I dive into the heart of the operation, the collector.  Who they are, what they do, and what it takes to find, train, motivate and keep the best ones.Resources:Website: https://drsohio.com/LinkedIn:Company https://www.linkedin.com/company/debt-recovery-solutions-of-ohio-inc/Email bjoyrob@gmail.comLinkedIn: Personal https://www.linkedin.com/in/bethany-robertson-38368112a/ Additional Resources:Collector Job stats: https://www.zippia.com/debt-collector-jobs/demographics/3 Pivots for better collections Mary Shores  https://www.maryshores.com/post/the-biggest-secret-in-collectionsDonald Miller NegotiationGrant CordoneKnowledge Source
Jun 11 2021
44 mins