The “Getting to Know” series is sponsored by Applied Innovation. Applied Innovation is helping to shape the future of accounts receivable management. Product development is driven by customer feedback, agency profitability and compliance and includes platforms addressing client portal access, document management, payment negotiation, Regulation E focused electronic payment authorizations and TCPA communication authorization platforms. Partner with a company who understands your business challenges and evolves to provide cutting edge technology to overcome those challenges and achieve success.
Nick Prola is one of those rare individuals who has spent time on both sides of the credit transaction, but started on the plaintiff’s side before joining the accounts receivable management industry. Tired of suing over what he calls “harmless technical violations,” Nick joined PFC eight years ago and the rest is history. Loving the collaborative dynamic within the ARM history has helped Nick find a home here. Read on to learn more about Nick and all it would take for him to hang up his suit in favor of some waders.
Name: Nick Prola
Job Title: General Counsel/Director of Compliance
Company: PFC USA
Length of Time at Current Company: Eight years
Length of Time in Industry: Eight years
How did you get your start in the industry?
I began my legal career on the dark side as plaintiffs’ counsel. The types of cases I was involved with became less and less meaningful and I didn’t want to practice law by litigating harmless technical violations. After grilling me for a few hours, Mike Shoop at PFC took a chance and hired me.
What is your career highlight so far?
Successfully defending PFC in a three-day FDCPA jury trial. Continuing to assist the Colorado ACA Legislative Committee in trying to curtail legislation targeted at the collection industry.
When or how are you most productive?
I feel the most productive when stakes are high and after a third cup of coffee.
Which industry professional do you admire most?
John Bedard, Dale Golden, David Kaminski, and Robbie Malone
What is one thing you do better than everyone else?
Better than everyone else? Absolutely nothing. I will obsess over a case or issue until I can find creative solution. I’ll also make sure I do everything I can to protect my client so that it can continue to operate and provide meaningful careers for our employees.
What do you like most about this industry?
The collaboration and willingness to help each other, even those we’re competing with. This industry truly feels like a family.
What is one thing you wish you could change about this industry?
Like everyone else, the public perception of debt collectors. Differentiating between criminals trying to scam consumers and the professionals in our industry must be a battle we continue to fight.
Describe a typical work day.
I don’t think there’s a typical day in compliance. My day is very dependent on what fires are lit and what issues arise. The unpredictability of my day is what makes me love my job.
If you weren’t in this industry, what would you be doing?
I love practicing law and would be a litigator in some way. If someone would pay me to go fly fishing, that would be great as well.
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What is your guilty pleasure?
Good bourbon and Chicago hotdogs.
What is the best advice you’ve ever received?
Only worry about what you can control.
What are you currently reading?
I’m trying to read Dune in between reading Hunstein over and over and over…
What is one fact you’d like everyone in the industry to know about you?
So many people in this industry have helped me out over the years. I’m available at any time for any reason to discuss anything. Nothing satisfies me more than trying to help out industry colleagues.
Who else would you like to see answer these questions?
Dale Golden.
The “Getting to Know” series is sponsored by Applied Innovation. Applied Innovation is helping to shape the future of accounts receivable management. Product development is driven by customer feedback, agency profitability and compliance and includes platforms addressing client portal access, document management, payment negotiation, Regulation E focused electronic payment authorizations and TCPA communication authorization platforms. Partner with a company who understands your business challenges and evolves to provide cutting edge technology to overcome those challenges and achieve success.
