Anyone who has suffered the wrath of a collection agency can attest to the demeaning position they put you in. The collections industry often resorts to strong-arm tactics which can leave the debtor feeling threatened and disconnected with the creditor’s products and brands.
Not so with Genesis, a debt collection company that radically trusts people with legitimate debt inherently want to make it right.
“Two principles govern the Genesis approach to the business. One, treating debtors with exceptional courtesy, and two, carefully analyzing its results to better understand what negotiation methods work best with various categories of debtors.
“Our bias is to be very customer-centric: To always be courteous, to be very responsive and to deal with disputed charges promptly if they are legitimate,” said Levin, CEO and chairman. “It feels better to us, and over the long haul … it will give us a chance to work with better quality clients,” he said, referring to creditors who sell debt.”
source bizjournals.com
“We certainly catch more flies with honey than we do with vinegar,” agreed Ralph Brennan, vice president of Plaza Associates in New York City, one of the agencies that performs collections on behalf of Genesis.
Perhaps the creditor will think twice about lending to the debtor again, but the road Genesis travels ends with a bridge unburned. Believing in the inherent goodness of your customer is what makes this business model a great example of radical trust.
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