Setting Expectations for Working with a Debt Collection Agency

January 1, 2023

In general, the debt collection industry suffers from a poor reputation. And the idea that a consumer in debt could describe their experiences working with a debt collection agency as positive is strange tomany people. Closing the Books host Tyler Kern spoke with Brian Eggert, Marketing Specialist at IC System about these various perceptions and how to best set expectations when working with a debt collection company.

Eggert began working at IC System in 2001 as a part-time debt collector to help pay for college. Since then, he has moved through a variety of positions leading to a depth of experience and understanding of the debt collection industry that few people have. His experience includes working in client services, RFP writing, and marketing with involvement in every department from operations to accounting to the mailroom. At present, he is a marketing generalist writing company content including websitecopy, blogs, social media postings, and internal business communications.

The conversation kicked off with a look into the debt collection industry prior to the creation of the Consumer Financial Protection Bureau. Although IC System has a proven path of ethical collecting, “the collection industry(as a whole)used to be a littlewild and less regulatedprior to the arrival of the Consumer Financial Protection Bureau,” said Eggert.

Eggert spoke about his company’s focus on creating a positive consumer experience, one of the many reasons for its success. IC System surveys approximately 15,000 consumers/month and averages a 95% success rate in consumers being happy with how their issue was resolved. Not only is having such a high success rate a rarity within the industry, but the company takes it one step further by investigating the other 5% to find out what did not go well.

This intriguing look into the debt collection industry continues to examine how IC System has evolved to meet evolving rules and regulations, measures call quality, addresses myths of working with an agency, benefits of outsourcing debt collections, recovery rates, and much more.

The bottom line at IC System, they are prepared to help consumers resolve financial issues and assist clients in recovering lost business. “We are not just there to collect money,” said Eggert.

IC System has over 85 years of experience in medical and dental debt collection, rent recovery and other business collections. For more information, visit https://www.icsystem.com/.

Recent Episodes

remote leader
View episode

As remote work establishes itself as the new norm in today’s demanding business world, balancing career and well-being has become a challenge for many professionals, especially those stepping into the role of a remote leader. According to the American Psychological Association’s (APA) 2023 Work in America Survey, 57% of workers report negative effects due…

Gerald Hill
View episode

Join us on the Grand Dads podcast as we delve into the rich family life and multigenerational lessons of Gerald Hill, a great-grandfather whose life experiences offer invaluable insights into parenting and community engagement. From starting out as young parents in college to navigating careers and community responsibilities, Gerald and his wife have fostered…

Waldo Waldman
View episode

Keynote speaker and leadership expert Waldo Waldman is the author of the New York Times and Wall Street Journal bestseller Never Fly Solo. He teaches tactics on how to build trusting, revenue-producing relationships with employees, partners, and customers while sharing his experiences as a decorated fighter pilot and sales expert. A graduate of the…