Welcome to a new regular feature on AccountsRecovery.net. The collections and debt-buying industries are tight-knit communities, but there is a lot that we do not know about each other. To rectify that, we will be posting profiles of members on a regular basis. If you are interested in being profiled, please contact me via email.
Name
Company
Length of time at current company
10 years
Length of time in industry
10 years
How did you get your start in the industry?
I was managing five sales offices for a telecom company in Pennsylvania. My father had just written his book about debt buying. He had been discussing the concept with me for a couple years. Then once our telecom company sold and we all were in front of a nice payday, I decided it was a good chance to try to work the concepts and ideas my father had.
What is your career highlight so far?
I hate to really point to one because I have worked and do work with so many great people and we have done so many creative things. I guess creating a debt valuation model that can value a portfolio on the account level by product, issuer and 41 other factors … it’s not perfect, but it’s functional and fairly accurate and I don’t know anyone else who has done it.
Which industry professional do you admire most?
There are several people I admire in this industry, but I have to say, my father, John Pratt. It’s a pleasure to come to work every day with someone who can surprise you with an idea, perspective or just a different way of seeing the industry. The guy is a legit genius at this.
What is one thing you do better than everyone else?
There are a few things I’m good at but I would say that I have a unique ability to listen to and read people. In this industry you have to realize what makes the deal work, or what is important to everyone. You have to be able to create a true win-win situation. Also, I try to meet everyone face to face or just talk on the phone as often as possible. That is important to realizing what is important and once you know that it isn’t hard to connect the dots.
What do you like most about this industry?
I like the fact that if you work hard, are creative and act with integrity, there is so much possibility.
What is one thing you wish you could change about this industry?
We put ourselves in this regulatory environment … so, I think we have had poor leadership as an industry. I think that if we could go back 10 years and show everyone a picture of the industry today maybe our associations and their members would have self-regulated and applied the various association’s codes of ethics that has been in place the entire time. Yet, as an industry we ignored doing things the right way so we could make more money. Shame on us.
If you weren’t in this industry, what would you be doing?
I would be coaching college football. I have coached college football for 14 years, but I have been a part-time assistant for the majority of that due to being focused on PMG. It’s still fun to sneak out of work every now and then and go coach.
Describe a typical work day
I start work around 9am. We usually use the morning to set up the day, get emails and phone calls returned. At 11am everyone else comes in. We work from 11am-7 pm most days so that we can communicate with anyone on the West Coast, so our necessary meetings (media requests, buybacks, outsource program, etc) are usually at 11am.
What is your guilty pleasure?
A cigar. I love a good cigar.
What is the best advice you’ve ever received?
My first manager in telecom told me that “three people can keep a secret, if two of them are dead.” Be transparent and integrity won’t be an issue.
What are you currently reading?
I tend to read more than one book at a time. Currently I am reading “Becoming a Supple Leopard,” “American Sniper,”“A Man of Honor: Story of Joe Bonano,”“Lions of Iwo Jima,” and “The Guns At Last Light.” I typically read 15-to-25 books a year, but never one at a time.
What is one fact you’d like everyone in the industry to know about you?
I would like to see John McNamara answer these questions since he has been on various sides of our industry.
Great overview I must say Jason is a hardworking educated member here on accounts recovery. His knowledge in the accounts receivable industry is amazing and at times it shocks me on how much he actually knows.