Jeff Albert with Markoff Law LLC featured on Executive Spotlight

Name: Jeff Albert

Company: Markoff Law LLC

Title: Managing Partner

Name: Jeff Albert

Company: Markoff Law LLC

Title: Managing Partner

What is your favorite quote?

I used to work with a collection manager who would say that an employee “knows what time it is” when impressed by their abilities.  I stole the line and now use it to describe people that impress me with their knowledge and skill in the industry.

In the receivables industry, what emerging trend has your attention?

It’s not necessarily new, but it’s persistently rising costs. 

What industry change do you predict over the next 5 years?

In recent years, the basic or baseline cost of providing competitive collection services has risen at a very high rate.  I believe this trend will continue.  Labor, compliance, and technology (including artificial intelligence and automation) will continue to be very expensive relative to the opportunities in the industry.  I predict that in five years, the minimum revenue levels required to participate in this marketplace will be considerably higher than they are today.

How do you define success?

Having business plans / projects move from a vision to delivering real results.

What is the best piece of advice you have ever received in life?

Only buy insurance when you can’t afford the loss.  Not exactly profound, but I want to believe this has saved me a bunch of money over the years.

What advice would you give someone entering the receivables management industry?

Get involved, find mentors, and commit to constant learning. Try to learn all aspects of this industry.  Strive to understand the various business models of the typical clients, collection agencies, law firms, and vendors. 

What are you most proud of, or what is your biggest accomplishment?

My family.  My wife and I have two great daughters that we’re very proud of.

What is your favorite book or podcast?

If you could do any other non-industry job for just one day, what would it be?

Ski Patrol.  I love to ski but don’t get to go much anymore.

People would be surprised if they knew…

I was only out of law school and a licensed attorney for about 2 years when I took over a collection law firm.  This would not have been possible without meeting the best mentors as soon as I entered the industry.  I credit Jack Wolf, the owner of the firm I worked for, and Bob Markoff, who later became my business partner, with teaching me and instilling in me the confidence to make a bold move at a young age. 

About Markoff Law LLC

Markoff Law LLC is a forward-thinking firm with a history of experience and success representing creditors throughout the Midwest. Through the decades, Markoff Law has earned and maintained a reputation for excellence, honesty, and integrity. The firm’s thought leadership and adherence to industry best practices have established it as a leader within the accounts receivable management industry. Markoff Law is firmly committed to setting and achieving the highest standards of excellence.

Published On: July 19th, 2023|Categories: Executive Spotlight|Tags: , , |

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