1. When hiring, what qualifications does the firm seek in its collections staff?
Response: Each potential collector candidate is interviewed by a team of three managers, including the Collection Manager, Assistant Collection Manager and the President. Part of the interview process includes a collector role play in order to partially evaluate each candidate’s collection skills and experience. Further, the candidates are asked detailed questions to better evaluate their ability to communicate and their personality. Moreover, most collector candidates will take an online personality assessment so that we can obtain a better understanding of what will motivate and incentivize each hired individual.
2. Does your firm use a service to conduct background checks? If so, which service?
Response: On the first day of employment, Persolve obtains a signed permission form to run a background check on all prospective employees. Information is entered online using selected components for a National Criminal file and identity verification, which is provided by Lexis-Nexis. We also obtain the right to run a credit report and check the candidate’s references.
Also, if an employee is hired through a recruiting agency, the agency will conduct background and reference checks prior to Persolve hiring the candidate.
3. How collectors are compensated (bonus, commission, salary, etc.)?
Response: Collectors are paid a base hourly rate. Each collector is then given a collection goal and is provided with an opportunity to generate monthly bonuses based on hitting and then exceeding his/her specific desk goal by specific percentages. Additional monthly bonuses can be generated based on tracking to goal on a weekly basis, participating in team goals and hitting daily goals. There are also monthly day off contests providing collectors with potential additional compensation.
Positive feedback letters from debtors also generate additional monetary compensation.
4. Describe the training program for collectors?
Response: Collectors receive in-house training in side-by-side supervisor sessions. Our collector to supervisor ratio allows consistent on-the job training for customer service orientation, demand techniques as well as identifying FDCPA and FCRA violations.
Paralegals and legal assistants receive in-house task-based training from both our attorneys and our paralegal supervisor. Paralegals and legal assistants have full access to the paralegal managers to ask questions and obtain training for any situation, which arises. Attorneys and paralegals comply with all state mandatory legal education requirements.
We also hold regular in-house seminars for attorneys, collectors, and paralegals. In addition, we provide managers with both in-house and outside seminars for leadership, human resource management techniques, organizational skills, communication skills and others. We provide collectors and supervisors with FDCPA training and updates.
5. Does the firm have dedicated skip tracers? If so, how many?
Response:Yes — Currently, our collectors spend approximately 25% of their time skip tracing. Further Persolve has two dedicated consultants that devote 100% of their time to skip tracing accounts for Persolve, both for location information and asset searches.
6. What skip tracing tools or assets locate tools does your firm utilize?
Response: The Company uses the following online third party skip vendors for batch searches and monitoring debtor accounts:
a. Experian: Credit Reports and Collection Trigger information
b. Lexis-Nexis: Bankruptcy and deceased information, employment information, property information, address and telephone information
c. WestLaw: Public information, legal information and documents
d. TeleTrack: Addresses, telephone and employment information
e. TALX (WorkNumber): Place of Employment information
f. Accurint: Telephone numbers and addresses
g. Insight America: Telephone numbers and addresses