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All right, welcome back. So, uh, my next guest is very, very,

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very important because she has a wealth of information and knowledge.

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So I'm excited to pick your brain a little bit.

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So for those that don't know you,

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go ahead and introduce yourself and the company that you're with.

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Absolutely. My name is Erica Gillerman. I'm general counsel at Trenton Recovery.

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We are a commercial collections agency that focuses on merchant cash advanced

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collections.

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All right. So this industry's changing drastically.

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A lot of things are going on. So in your specific field, uh,

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what have you been seeing? What are the trends?

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Well, the trends are that defaulter of course, up. Uh,

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obviously there's certain industries that we are recommending to stay away from.

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We always tell everybody to focus on proper underwriting, doing the,

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doing your due diligence when you're actually going into a deal.

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And that's something that has been lacking with a lot of the funders.

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They're seeing, you know, certain trends on their book of business,

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but they're not realizing that the entire industry as a whole has an overhaul

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that we need to really look at from the big picture and not just the book of

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business that they're getting on their individual platforms.

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So you're, you've been here all morning. Kind of walk me through, uh,

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you've seen a lot of familiar faces.

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What's been the atmosphere like here so far?

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Well, every single de bank that we go to is always a really, really fun time.

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We have a blast seeing our clients.

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It's always nice to see new faces in the industry,

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and it's always nice to get together,

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not only with the other attorneys that are in the industry,

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but just seeing how the trajectory is changing, meeting the brokers,

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being able to also educate the brokers and telling them that even though we're a

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collection agency and we may not be seen as a necessity for them,

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they need us as well, because if their deals go bust, they get clawed back.

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And so if they work with us in making sure that we get, you know,

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kind of the trajectory going down that road,

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it's protection not just for the funders,

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but it's protection for the broker commissions as well.

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So, listen, this industry, it's going through a very interesting time. A lot,

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a lot of, uh, transitions are going on. Um, for,

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for your specific area of expertise, uh,

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what advice would you give to people that are watching this at home, um,

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or that are here about just doing things the right way and,

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and just maneuvering collections, just maneuvering your area in general.

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Being open to the changes. The changes are not a suggestion,

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unfortunately. They're a requirement.

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And that is something that we kind of need to continue to educate throughout the

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system and have everybody truly be understanding and open that this is not going

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to kill our industry. In fact,

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it's going to make our industry grow to a level on a national scale that it

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hasn't been before. Alternative finance is here to stay. Mm-hmm.

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We are a necessity that a small businesses need, so let's make it done right.

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And unfortunately,

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sometimes that is going to have to weed out certain people because they don't

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want to essentially follow the rules. But we need that to happen. And, you know,

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this is just one of the things that it's a necessary evil that we can't avoid.

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So rather than continue to go down this kind of like road,

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we need to embrace it and roll with it and be open to the changes and the

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possibilities of how we can continue to evolve and expand into more than a

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trillion dollar industry that we're hoping to get to.

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And so for people that have never been to an event like this, that are new,

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trying to maneuver it, you know, trying to meet like attorneys,

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trying to meet clients, trying to meet everyone, and they're not here,

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what would you say to them?

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Honestly, meeting the people that are here really puts a face to the industry.

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So it gives us the opportunity to understand who we're dealing,

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who you can be doing business with, even if it's direct competitors,

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we have direct competitors that are here. It's always great to just see,

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you know, the faces that are behind, the names that we see in the courts,

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that we see in the bank accounts that we see, you know, in the submissions.

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It's, it's always a cool trajectory to see, oh wow, I've seen,

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I got a submission from you. Oh, cool. I've seen, I went up against you.

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This is,

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this is the kind of dynamic where it's just a fun environment to be around in.

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And honestly, every,

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every single person at one point or another needs to come to de banked because

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they need to finally understand what the industry's truly about. Yeah.

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Erica, thank you so much for your time. I appreciate No problem.

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It was a pleasure. Likewise.

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So I'm gonna go ahead and let you enjoy the rest of the event. I appreciate it.

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But thank you for your wealth of information. Thank you.

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And the tidbits that you gave, the golden nuggets, because this industry,

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a lot of people are asking, you know, how do I, how do I maneuver it right now?

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Yep. So

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Anytime.

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Awesome. Well, thank you much, Nono. Thank you, Erica.