Myths about Collections

4 Colossal Ways Debt Collection Has Evolved

Debt Collection  |  3 min read

What comes to mind when you hear the words Collection Agency?

It’s probably very different from what my teams and I think of.

It’s not your fault. Simply put, there are a few stigmas attached to the line of work we’re in. Some come from outdated ways of doing things way back in the past, and others never were accurate.

The reality is, many things have changed in the world of debt collection over the three decades I’ve been involved in it. Even more have changed right here at MetCredit.

It’s been an evolutionary process. As people who work in our offices will tell you, ours is a company built on open doors, collaboration and an irrepressible desire to grow. Grow careers, grow as human beings, and grow our business through continuously improving processes and technologies.

It would take a book rather than a blog post to tell you everything that has changed at MetCredit since I came in as a rookie collector, worked in the mailroom, and made my way up to President and CEO. (If you’re interested in my journey, there’s a short version here.)

Through all that growth and evolution, here are 4 of the changes we’re proudest to have implemented. The ones that most benefit our employees and clients:

  1. Technology: No debt collection agency anywhere has invested more in technology than we have at MetCredit. I don’t say that lightly. From our MyMetCredit platform that enables clients to quickly load any number of accounts 24/7 to the sophisticated Applied Artificial Intelligence (AI) algorithms we use to predictively call people at the best possible time, our HR platform that enables prospective hires to test-flight the job and our Debt Recovery Calculator, to SMS text messaging, the unique and proprietary tech that makes us so easy and efficient is too extensive to list here.
  2. Techniques: at MetCredit, we don’t simply call people in debt and demand payment — or else. We pioneered a process we call Solution-Oriented Recovery™ that is entirely different from the way other collection agencies approach their work. Centred on a key value of Respect for the individual, we work with people who owe money to find ways to live up to their obligations and live debt-free. Our agents will consistently tell you that helping people is the most gratifying part of their jobs — and they do it every day.
  3. People First: while we use technology in many ways to make our work more effective, we’re a people business, with all our team members located here in Canada — not in distant call centres. They live in our communities, know the issues, and participate in programs like MetCredit Helps to better the lives of fellow Canadians. We’re people who care about other people, and I don’t know many companies in any industry with bigger hearts. We also continuously sponsor and support important human causes in our communities, including KidSport, Youth Day and Jays Care Foundation. This is another list that goes on and on.
  4. Compliance and Quality: far from a world where people in debt are bullied and coerced, at MetCredit we not only train and continuously reinforce our philosophy of helping people live better lives, debt-free — we are constantly audited on many levels to ensure the highest level of regulatory compliance, performance and quality assurance. Very few business models are measured and audited as rigorously. All that measurement helps us be sure we keep getting better.

What do you think? I’m guessing this paints a very different picture from your original perception!

And it is really just the tip of the iceberg. If you’re considering using a collection agency to help your business’s cash flow, we’d love to hear from you and answer any questions. It really does cost no more to partner with Canada’s top-performing collection team. Drop us a line.

If you or someone you know is searching for a rewarding career, we’re constantly interviewing people with big personalities and strong commitment. Everything else we can teach you — and we’ll provide you with the perfect place to learn, grow and build an exciting future.

Today is a great day to apply.

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Brian Summerflet Author: Brian Summerfelt

President and CEO of MetCredit, Canada's top-performing consumer and commercial collection agency

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