Debt collection company notes surge in business
DALLAS - Alarm Debt Liquidation Group, a debt collection agency for the alarm industry, is set to relocate its headquarters to a new space three times larger than its current location.
A recent surge in business has been the catalyst for the relocation effort.
Ã¢â‚¬Å“From last month to this month, we have seen a growth of 150 percent,Ã¢â‚¬Â said Jason Edwards, dealer director at ADLG. He partly attributed the companyÃ¢â‚¬â„¢s surge in business to the stalled economy, the likely cause for a rise in residential debtors.
Ã¢â‚¬Å“People think of their alarm system like a water bill and will stop paying it,Ã¢â‚¬Â Edwards said. Ã¢â‚¬Å“Our job is to help them understand what their contract means.Ã¢â‚¬Â
Another influential business factor for ADLG had been a higher percentage of homes and businesses equipped with security systems.
Edwards noted that the companyÃ¢â‚¬â„¢s mission is not a popular one.
Ã¢â‚¬Å“ItÃ¢â‚¬â„¢s the ugly part of the process that no one likes to talk about,Ã¢â‚¬Â he said.
Started in October 2002, the company handles attrition for 600 alarm dealer and dealer programs nationwide including ADT, Monitronics and Protect America. ADLG, a division of Anderson, Crenshaw & Associates, does not assume accounts from other industries, instead choosing to focus solely on the alarm debt sector.
According to Edwards, this specialized approach will lead the organization to achieve greater success in the future.
Ã¢â‚¬Å“WeÃ¢â‚¬â„¢ve had the opportunity to grow in other areas, but our focus is on the alarm industry,Ã¢â‚¬Â he said.
Edwards said that the company is willing to work on attrition for alarm companies who have branched into additional product territory such as satellite systems.
Ã¢â‚¬Å“We canÃ¢â‚¬â„¢t say no to a good client,Ã¢â‚¬Â Edwards said.
Debtor accounts, which are transferred to ADLG after a client receives a charge back, range from residential debt to dealer debt. ADLG obtains 25 to 35 percent of any col-lected accounts.
The companyÃ¢â‚¬â„¢s new 7,065-square-foot location, only a floor above the current space, will allow the company to double its workforce. Approximately 40 new employees will be hired over the course of eight weeks, while the 28 current employees move out of the 1,825-square-foot office they currently occupy. Edwards stressed the move, which begins in April, will not affect client accounts.