Receivables Info Executive Spotlight with Bob Deter

I get to work in a great industry, doing a job I love, surrounded by fabulous people at a company that is the best. 

The swing of the pendulum from low write-offs and consumers who are flush with cash to increasing write-offs and consumers who are facing the challenges of inflation and rising interest rates. Also grabbing my attention is the increasing need for documentation associated with portfolio purchases.

I hope it’s the ability to gain more accurate general economic predictions. The last couple of years have made that a difficult task. In all seriousness, it is a tough thing to make predictions in an industry that has constant change. I would say it is likely that we will continue to see increased regulations, especially in the state arena. Yeh, I know, not a tough prediction. 

Success can take many forms. Generally, in the workplace I would say it takes the form of accomplishing respectable goals and objectives with a win/win outcome.

Outside of the great advice we all receive from our parents such as do the right thing, follow the golden rule, learn from your mistakes, etc., one item that jumps out to me is: Some things in life are beyond your control. You can “if” yourself to death by continuously overthinking if only this, if only that….don’t do it. 

For someone without a background in receivables management—be patient. This is a fascinating and tremendously beneficial industry. It is built on the needs of both lenders and consumers and is heavily regulated. You’ll soon realize how this combination makes for a complex industry. But it is manageable. Focus on doing the right thing and you’ll be successful. Also, there is a great network of reputable companies and industry associations. Take the time to get to know them.  

At work – successfully managing my way up the ranks and into several executive positions. At home – as cliché as it sounds, helping my wife raise a family and watching two boys become men. 

Nature Photographer

It may be surprising to know that I met with Jay Leno, and it was work-related.