PRM Business Profile
PRM Financial Services, Inc., and its predecessors have been rehabilitating consumer debt since the late 1980s and currently administers the rehabilitation of portfolios of about $1 Billion in original face amounts.
PRM's success in the debt recovery industry can be attributed to its position as a provider of "debt resolution, not debt collection." By positioning PRM as an ongoing partner in the debt recovery process rather than a single-event service provider, PRM's products can be integrated anywhere in the debt recovery process, enhancing the probability of financial success for its clients, and thus exceeding its goal to deliver maximum profit for its investors.
Working on its own or with a consortium of other buyers, PRM acquires debt from several nationally known institutions and debt sellers. In the due diligence process among many factors, our analysts consider: the age of the accounts, the number of "collection" attempts already made, the percentage of accounts that will have social security numbers attached, the geographical distribution and concentration of the accounts, and the prior performance of the portfolio. PRM looks for credit card balances ranging between $400 and $7,500 with a portfolio of 5,000-plus accounts. These accounts are placed into the Encore Program.
The ability of PRM to deliver investor returns is supported by a strong management team with expertise in all areas of debt recovery and business operations, a solid record of performance, and a state-of-the-art, proprietary software system (eCollectionsTM). PRM marketing efforts are designed to target specific segments of the total marketplace and to ensure that the most cost-to-client-conversion approaches are utilized.
Facilities and Staffing
PRM's operations center is located in Addison, Texas a small city contiguous to Dallas, and presently has 75 employees, the majority of whom work to administer and achieve results on behalf of the Encore Program. PRM increases its staff in response to demand and cost efficiency.
PRM steadily improves techniques to locate, hire and retain people most likely to perform. Computer training on eCollectionsTM for an Encore Program account representative initially requires two instructional and two practice days. Thereafter, comprehensive regulatory, negotiating, and task management training by a team of ten experienced internal staff members over an intensive two-week period certifies the account representative. The newly certified employee then works closely with an experienced account representative to continually improve skills and productivity. This process allows PRM the ability to hire quality employees who will be successful selling a concept to, and serving the needs of, its customers.
For more information on PRM and its businesses, contact George S. Watson or Carol Freeland at 972-387-8995.