A key element of success for any passive debt buyer is the selection of a quality collection agency. ACA International (the collection agency trade organization) lists more that 5,500 collection agency members in the U.S. alone. With so many agencies to choose from, how does Ropay decide who gives us the best chance to maximize our investor returns?
Well, there are two ways to go about collections. One is to use what we will term a “confrontational” approach and the other is use an “applied psychology” approach. As you are going to find out, only one of these strategies is in alignment with our guiding principles here at Ropay Asset Investors.
A typical collection activity, as practiced by most collection agencies, is to pursue a contentious dialogue with consumers. The mindset is to pound on the debtor repeatedly until eventually the customer caves in and offers money just to cause the collection agency to go away. While this is an oversimplification of the “confrontational” approach, it is a fair representation of the common behavior of most collection agencies.
The Applied Psychology takes a different approach with the customer. The mantra is Polite-Professional-Persistent. This strategy comes from the mindset that all people and good and sometimes bad things happen to good people. While the confrontational strategy is more like war, where there is one winner and one loser, the Applied Psychology strategy looks for a win-win solution where both parties feel good about the resolution.
Consumers with financial problems always owe many creditors at once and they are faced each month with who gets paid and who does not. With the Applied Psychology collection strategy, customers react differently to a collector who is not abusing them and who is sincerely interested in the the problems of the customer. Knowing that customers have limited resources to deal with their problems, the Applied Psychology strategy approach is more likely to cause the customer to part with some of those limited resources more quickly (this is actually our unique value proposition).
I started Ropay with a simple premise, “Do Good Make Money.” In order to be in alignment with the first part “DO GOOD”, we need to make sure our customer debtors are treated with the dignity and respect they deserve. That’s why we only deal with collection agencies who use the “Applied Psychology” approach.
As for the second part of the premise, “MAKE MONEY,” we’ve got that covered as well. The “Applied Psychology” approach is the most successful collection strategy used to date. Further, we use the collection firm who actually pioneered the approach. According to the Nilson Report, the most authoritative resource for information on the credit card industry, this firm was the largest, best trained, most profitable collection agency in the world.
If you’re like us and believe you can be socially responsible AND very profitable, rest assured that when you invest with Ropay Asset Investors, your money is in the best possible hands.