21 Mar 2014
Financial Asset Resolution Reviews
2.6
51% would recommend to a friend
Randall Nay
52% approve of CEO
51% positive business outlook
Reviews by job title
4 reviews
4.0
15 Jan 2014
Recommend
CEO approval
Business outlook
Pros
- Positive mindset - Trying to make collections better (really teach FDCPA) - Tries to motivate employees a lot - Pays real good bonus structure - Management treat all staff the same (in a good way) - No weekends I had collections experience with 2 other companies and for 7+ years before Financial Asset Resolution. FAR was by far the best, but that doesn't say much because collection agencies aren't that great. This one tries to change the negative stuff like talking down to debtors or stealing accounts. FAR tries to instruct its workers on sales more than collections and teach to help people. They don't even consider themselves a collection agency and I have to agree. They really do come down low on a lot of deals, which can be a con for the collector too. Other collection agencies teach you to scare the debtor and get every penny from them. Main reason I'm posting is because I saw some bad reviews on here saying they don't pay and other stuff and that's just not true. I've been with the company for 7 months and have always been paid on time (they pay through direct deposit at midnight). They also have the best bonus structure of any collection agency I've ever been at. It's tough to bonus at first though, but gets easier. The last company I came from kept raising my quota. The reason I left them for FAR was because they don't ever raise the quota. They want you to make a lot of money (because you make a lot for them too). The system shows you everything in the company. Most of the stuff is usually secret to other agencies, but they let you see it so that you know you're getting fair pay. They have nice incentives (like all collection agencies) except its easier to get them here. Casual days Fridays, monthly prize, daily gas cards for payments. They just added something new that if we hit goal by thursday, we go home early on Friday with pay. I've liked working here so far. Also good that we don't work weekends, I always had to work Saturdays at the other places.
Cons
- Tough to get people on the phone (but dialer time helps) - Some accounts are older - Sometimes settlements are too low and it's bad for collector number - High turnover - The company does buy new paper a lot, but sometimes we get old accounts. Good thing is everyone gets same types of accounts and you can see that with the system, so that helps. Also, we don't always want to pitch a low settlement. It's nice to get bigger payments too. I get that post dates are going to help our future numbers, but we also need to bonus this month too. It's true that the company has really high turn over rate. A lot of the time it's on the people though. I haven't seen many people fired for production as much as for attendance. Management doesn't pressure you, but you still feel pressured. Even though they have all these good things that will happen if you hit goal or do well, it's still a hard to go a day without a payment. It's still about production.
1.0
2 Nov 2013
Don't Do it. Unless you can't find anything else
Former employee, less than 1 year
Schaumburg, IL
Recommend
CEO approval
Business outlook
Pros
They offering training. It's a job.
Cons
You better run to the bank on payday with your check because funds may not be available.
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