Portfolio Recovery Reviews

Updated June 14, 2015
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Portfolio Recovery Chairman, President, and CEO Steve Fredrickson
Steve Fredrickson
13 Ratings

Pros
  • You have the opportunity to make a lot of money with the bonuses (in 2 reviews)

  • The start out pay isn't bad and the incentive bonus is unlimited, you can definitely make a lot of money working with this company (in 2 reviews)

Cons
  • Very high turn over rate, great company to work for if you are uneducated or just need a job while you look for another one (in 3 reviews)

  • Upper management were like hawks (in 3 reviews)

More Pros and Cons

20 Employee Reviews

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  1. Account Manager

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Account Manager in Bessemer, AL
    Current Employee - Account Manager in Bessemer, AL

    I have been working at Portfolio Recovery (More than a year)

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    Pros

    bonus structure, end of month lunch

    Cons

    No leadership, poor upper management including VP. No one cares about their employees

    Advice to Management

    Learn ur job and do it. When u mess up admit it and don't put blame on reps.


  2. Operations Manager

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Portfolio Recovery

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    Pros

    Hard working employees. Good Bonus structure.

    Cons

    Upper management is horrible, biased, and one-sided.

    Advice to Management

    Pay attention to your real dedicated employees.


  3. Hopelessly disorganized

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Portfolio Recovery

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Lot of good people there, despite the insanity of how poorly the company is run.

    Cons

    Where to start? I worked IT, which is pretty much the best way to take the temperature of a company's structure. They have very little process and procedure down. What they do have is less documented and more oral history. Outdated applications in the software share site, more current stuff located in separate share pointed to by documentation that is stored in a third location. Follow the example set by coworkers and conference calls, get chastised that you made a mistake and challenged to cite proof when the only direction you receive is conversational. Told to reach out with questions, get no response to emails asking those questions. Get ripped for doing this week what you were told to do last week, because, this week, they wanted you to do the same thing that they scolded you for. The company has the supervisors who are more like team leads handle all discussion with the third party contractors. So when my supervisor was consistently inconsistent, irresponsible and unprofessional, the contract company could only approach him to try to get him to change, while having to tip toe around it. When I started asking them to talk to their superior, the problem supervisor told them he was terminating my contract. Part of why things are so screwed comes from the top. Despite often being matters of compliance and security, management wants at least two sets of rules: one for lower departments and none for them. They delegate a lot of their form filling to executive assistants...who expect every bit of not having to comply that their bosses get. Executive assistants have called IT to get help watching streaming college basketball at their desks when that's a huge violation of policy. But you better do it, because you don't want them complaining to a VP. Had one requesting access for a person in a department she knew nothing about. A superior has to put in the requests, but she just wanted me to reach out to the end user and give them whatever she asked for. Despite all compliance concerns and the obvious idiocy of it, when I told her I couldn't, my supervisor scolded me for not doing just as she asked. When they get audited, the fines are going to be real.

    Advice to Management

    To the CEO: stop explicitly approving of the stark double standards. You have collectors working like they're imprisoned (actual bars), while you have people trying to give away the keys to the data castle because they're too busy to stay within compliance rules. Your secretaries should not be putting in requests to access crucial data when they don't know anything about the department. You can't have IT changing ticketing systems five times in less than five years and continuing to half step the change over by keeping system access requests in the most unintuitive, dysfunctional system I've ever encountered (and that is saying something). Several people here have talked about collectors being treated like children and they are. Some deserve it. Some don't. Some learn to act like what they are treated like. Managers have the most disruptive manner of trying to cheer lead their boiler room players. And, yeah, probably because of how many hours you work them and disrespect their personal lives, there is more than a little fraternization between Ops Managers and attractive reps that report to them. If there was a Lloyd THE HAMMER Stanley that did sexual harassment cases, one of your competitors would be calling you to get you to settle your debts.


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  5. Helpful (5)

    IT

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL

    I worked at Portfolio Recovery

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    A good environment to learn technology.

    Cons

    Worst work life balance. Managers are highly unreasonable and office is full of politics from the higher management till the team managers and team members. Not a healthy office environment to work with.

    Advice to Management

    Treat employees well and help them have a better work life balance and work on giving them a secured feeling instead of finding issues that are not even closely related to productivity or project.


  6. Helpful (3)

    Worst place I ever worked

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Portfolio Recovery full-time (More than a year)

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    If you work in collections, you have an opportunity to make money.

    Cons

    Very high turnover in most departments. People come and go - they like to think it's because they're picky about who works there or that someone can't hack it but the reality is that people just don't like the culture or the leadership. One department in particular, the leadership is quite hostile but the top leaders of the company don't do anything about it.

    Advice to Management

    Some of your department VP's really do give your company a bad name...


  7. Helpful (7)

    Worst Company, Worst Management, Worst People

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - IT in Chicago, IL
    Former Employee - IT in Chicago, IL

    I worked at Portfolio Recovery full-time (More than 3 years)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    Casual Attire, Work from Home option

    Cons

    Useless and Spineless HR, Management have no Direction, Incompetent Managers and VP's, Discrimination, Useless people have been made Managers

    Advice to Management

    All are shameless.


  8. Helpful (4)

    The worse work experience

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Account Representative in Hampton, VA
    Current Employee - Account Representative in Hampton, VA

    I have been working at Portfolio Recovery full-time (More than a year)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    There is a bonus structure and you receive that incentive monthly. It's not a hard job, easy work, decent pay.

    Cons

    A lot of work place drama, upper managents and HR issues. High turnover rate because of the environment it's not productive for the representative. The work shifts can change periodicàlly without much notice, and reps are often moved to new teams periodically as well. Must be willing to adapt easily.

    Advice to Management

    Bring in new management in the hampton office. This is why they aren't productive compared to the other sites. The problem always start within


  9. Helpful (1)

    Collector

    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Collections Representative in Norfolk, VA
    Former Employee - Collections Representative in Norfolk, VA

    I worked at Portfolio Recovery full-time (Less than a year)

    Doesn't Recommend
    No opinion of CEO
    Doesn't Recommend
    No opinion of CEO

    Pros

    No comment on company as far pros.

    Cons

    collections of debt out of statue of limitations. accts as old as 1999. Collections was not for me. People were rude and often times hung after verbal abuse.

    Advice to Management

    Management was very poor and showed favoritism among collections representatives which caused tension and discontent. most of the managers were not educated and trained in leadership skills


  10. Helpful (2)

    It was horrible.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Account Representative
    Former Employee - Account Representative

    I worked at Portfolio Recovery full-time

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    One of the best things about working there was the pay. More than minimum wage plus bonuses was nice.

    Cons

    They want you to stretch the truth when speaking with people on the phones. If you didn't hit your monthly goal you could be terminated.

    Advice to Management

    Treat the people you are calling the way you would want to be treated if a debt collector called you. Stop with the lies and games with them.


  11. Helpful (4)

    OK place

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Portfolio Recovery

    Pros

    the money is cool; you can wear what ever you want

    Cons

    No phone but u get a background check done?!

    Advice to Management

    stop fraternizing with the Account REPS!



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