1 00:00:00.505 --> 00:00:01.045 Hey everyone. 2 00:00:01.045 --> 00:00:02.045 Alison Berger here. 3 00:00:02.065 --> 00:00:03.885 I'm at Broker Fair 2024 4 00:00:03.985 --> 00:00:06.125 and I am now joined with Erica Gillerman 5 00:00:06.185 --> 00:00:07.645 of the Triton Recovery Group. 6 00:00:07.645 --> 00:00:08.725 Thanks for being with me. 7 00:00:08.735 --> 00:00:09.965 Thank you so much for having us. 8 00:00:10.305 --> 00:00:12.085 So you're part of a different aspect 9 00:00:12.085 --> 00:00:13.445 of Tritons. Tell me about that. 10 00:00:13.785 --> 00:00:15.525 So I'm the Chief legal Officer at Triton. 11 00:00:15.785 --> 00:00:19.165 Um, I handle all of the legal matters that either move out 12 00:00:19.325 --> 00:00:22.045 to our outside counsel or we will handle whatever legal 13 00:00:22.365 --> 00:00:23.925 regulatory issues need to happen internally. 14 00:00:24.385 --> 00:00:26.245 But that is what I do on a day to day basis. 15 00:00:26.345 --> 00:00:27.525 So it's always a fun time, 16 00:00:28.025 --> 00:00:29.025 I'm sure. Plus with 17 00:00:29.025 --> 00:00:30.645 all these men, you have to keep in line. 18 00:00:30.995 --> 00:00:33.005 It's good that there's a woman attorney in the office. 19 00:00:33.505 --> 00:00:35.845 Uh, that is always a fun thing to be one 20 00:00:35.845 --> 00:00:38.285 of the only women sitting at the table on a daily basis. 21 00:00:38.435 --> 00:00:39.645 It's always fun in this industry. 22 00:00:39.815 --> 00:00:42.765 There has to be one, I'll take it. Yeah. 23 00:00:43.065 --> 00:00:45.325 So tell me about how this year has been for you so far. 24 00:00:45.825 --> 00:00:47.685 So defaults have been absolutely on the rise. 25 00:00:47.945 --> 00:00:49.965 Uh, and that is something that we obviously handle 26 00:00:49.965 --> 00:00:51.325 because we're a collections agency, 27 00:00:51.625 --> 00:00:53.645 but we really do pride ourselves in educating 28 00:00:53.645 --> 00:00:56.125 and working alongside our, our team, our clients, 29 00:00:56.425 --> 00:00:59.445 really making sure that they understand the day-to-day of 30 00:00:59.475 --> 00:01:00.525 what actually goes on. 31 00:01:00.865 --> 00:01:02.205 Um, and that's really our, 32 00:01:02.275 --> 00:01:04.205 what we want to continue to work on. 33 00:01:04.555 --> 00:01:05.765 It's been a difficult route 34 00:01:05.765 --> 00:01:07.285 with all the rise in bankruptcies 35 00:01:07.285 --> 00:01:08.325 and the changes in the industry, 36 00:01:08.585 --> 00:01:10.405 but we try to be a step ahead and let our teams 37 00:01:10.405 --> 00:01:12.245 and let our clients know exactly what to do 38 00:01:12.665 --> 00:01:15.485 before it actually will affect them on a day-to-day basis. 39 00:01:15.905 --> 00:01:17.245 And what is the day-to-Day like? 40 00:01:18.025 --> 00:01:20.685 Oh, where do I start? Uh, At the beginning, 41 00:01:21.105 --> 00:01:22.565 At the beginning's, the hard part. 42 00:01:22.905 --> 00:01:25.645 Uh, so once we get a deal into collections, when we do see 43 00:01:25.645 --> 00:01:28.085 that some of our clients are in on a defaulted deal, 44 00:01:28.105 --> 00:01:30.485 we actually will let them know, Hey, just letting you know 45 00:01:30.485 --> 00:01:32.165 that somebody else had placed this deal in. 46 00:01:32.165 --> 00:01:34.285 We do see that you're a funder that's involved. 47 00:01:34.615 --> 00:01:35.965 Maybe you wanna look into it, 48 00:01:35.985 --> 00:01:37.645 see if you'll be getting a default as well. 49 00:01:37.865 --> 00:01:39.605 Things like that. We kind of really try 50 00:01:39.605 --> 00:01:42.445 to make our clients aware of what the changes are happening 51 00:01:42.465 --> 00:01:43.925 and they may not know yet. 52 00:01:43.925 --> 00:01:45.245 They may have not gotten a default. 53 00:01:45.545 --> 00:01:47.565 In addition to that, we work with other attorneys 54 00:01:47.565 --> 00:01:48.765 and other agencies in the industry 55 00:01:48.765 --> 00:01:50.205 to really streamline the process. 56 00:01:50.905 --> 00:01:52.845 We see everybody's defaults, 57 00:01:53.235 --> 00:01:56.085 most funders only see their own, so we will see trends 58 00:01:56.645 --> 00:01:58.645 a little bit quicker than some of the funders will. 59 00:01:58.665 --> 00:01:59.845 So we'll let them know, Hey, 60 00:01:59.955 --> 00:02:01.525 stay away from this kind of industry. 61 00:02:01.835 --> 00:02:04.765 Stay away from this specific state or be more mindful 62 00:02:04.905 --> 00:02:07.085 or be more cautious before you're actually funding it. 63 00:02:07.425 --> 00:02:08.605 I'm glad you brought up trends. 64 00:02:08.825 --> 00:02:11.325 So how, what do you see trending for the rest of the year? 65 00:02:11.375 --> 00:02:12.445 We're almost halfway through 66 00:02:13.645 --> 00:02:14.645 Headache. No, 67 00:02:14.645 --> 00:02:17.565 um, I mean the trends are as always, you know, 68 00:02:17.565 --> 00:02:19.565 you wanna, you wanna be mindful of current events. 69 00:02:19.795 --> 00:02:21.685 Current events in our industry are 70 00:02:21.745 --> 00:02:22.885 the number one risk assessment. 71 00:02:23.265 --> 00:02:25.165 And for funders and especially underwriters, 72 00:02:25.165 --> 00:02:27.045 you wanna make sure that you're paying attention to 73 00:02:27.155 --> 00:02:28.805 what is happening across the country. 74 00:02:29.585 --> 00:02:31.165 You take that into consideration 75 00:02:31.425 --> 00:02:33.405 and that will really mitigate everything 76 00:02:33.405 --> 00:02:35.125 that you're doing from a collection standpoint. 77 00:02:35.385 --> 00:02:38.965 And at the end of the day, your, these funders are funding 78 00:02:39.025 --> 00:02:40.885 to collect on their own receivables. 79 00:02:41.105 --> 00:02:42.645 The receivables that they're purchasing. 80 00:02:42.735 --> 00:02:44.645 Those are now the funders receivables 81 00:02:44.645 --> 00:02:46.645 and we're there to assist them in the process, make sure 82 00:02:46.645 --> 00:02:49.165 that they're able to collect against them and whatnot. 83 00:02:49.185 --> 00:02:50.765 We come in and we get the job done. 84 00:02:51.445 --> 00:02:52.925 I see that happening and I'm gonna 85 00:02:52.925 --> 00:02:54.045 have you assist me right now. 86 00:02:54.155 --> 00:02:56.165 Sure. So from an attorney's perspective, 87 00:02:56.405 --> 00:02:58.485 I want a 32nd broker bite on 88 00:02:58.485 --> 00:03:00.085 what you're looking forward to most today. 89 00:03:00.965 --> 00:03:02.605 I am looking forward to seeing the funders. 90 00:03:02.705 --> 00:03:05.045 I'm looking forward to seeing some of my clients face 91 00:03:05.045 --> 00:03:07.485 to face, having an opportunity to touch base 92 00:03:07.625 --> 00:03:10.485 and really have this personable experience with them. 93 00:03:10.505 --> 00:03:11.845 And of course I'm really looking forward 94 00:03:11.845 --> 00:03:13.005 to seeing all of the speakers. 95 00:03:13.385 --> 00:03:15.565 I'm incredibly, incredibly excited to see some 96 00:03:15.565 --> 00:03:18.005 of the new faces that there's a lot of them this year. 97 00:03:18.465 --> 00:03:20.405 So that is what tritons here for. 98 00:03:20.405 --> 00:03:21.805 Please stop by, see us, 99 00:03:22.225 --> 00:03:23.805 and if you have any questions at all, 100 00:03:23.995 --> 00:03:25.445 feel free to reach out to us at any time. 101 00:03:25.695 --> 00:03:27.485 Great. Thank you so much for spending some time 102 00:03:27.485 --> 00:03:29.205 with me and we'll be right back. 103 00:03:29.735 --> 00:03:30.165 Thank you.