4. Agency’s Knowledge and Experience

The sales representative represents this agency and their knowledge. The representative must be professional, treat you with respect and should be developing a rapport towards a working relationship. Ask specific questions relating to your institution’s needs.

For instance regarding Perkins Loans – can the representative produce an attestation audit; when are accounts closed (if more than 12 months a warning signal should be fired), or ask questions regarding the adding of collections costs, commissions on deferments, statutes or credit reporting. Ask if you may pick the collection manager’s brain to get a feel for his/her collection knowledge and efficiency.