Transforming Despair into Hope
by Laura Marino, HiPower Ring 3
What comes to your mind when you hear ‘debt collection’? For most of us, the mention evokes images of despair, shame, and fear. These were the images that popped in my mind when I was first approached by a recruiter on behalf of TrueAccord. Why would I want to join a company that is focused on the debt collection space?
Last April, I, like many others, saw my job impacted by COVID-19. Back then I shared my story about the excruciating layoff decisions I had to make, and about realizing that my own role was no longer needed. But unlike others who lost their jobs because of the crisis, I could afford to take the time to think about what I really wanted to do next.
During my career, I have worked on different types of products in a variety of industries. And in every transition to a new company or a new role, I sought out opportunities to learn, stretch myself, and make increasing contributions. Finding new challenges was still important to me as I considered my next steps. However, observing the painful experiences brought by this pandemic added a new priority. For the next phase of my journey, I knew I wanted to be part of a company that has a positive impact on the lives of those most affected by this crisis. Granted, this is quite broad and didn’t point me to any specific type of company--but having this focus provided much-needed guidance as I started evaluating opportunities.
Back to TrueAccord. Despite my initial hesitations, I was encouraged to talk to them at the behest of a friend. And after just a few conversations with the executive team, the images in my mind started transforming. TrueAccord’s mission is to reinvent the debt collections space; to deliver a painless user experience that empowers consumers to regain control of their financial health and helps them better manage their financial future.
This mission drives every TrueAccord employee.
Each year, an estimated 77 million Americans experience debt collection--a number that will undoubtedly grow given the current economic crisis. Every single person who falls behind in their payments has a story. The reviews of consumers helped by TrueAccord provide glimpses into those stories and into the positive impact that the right service can have.
In our financial system, debt is a given; the pain and stigma currently associated with it don’t have to be. TrueAccord restores hope to thousands like Bryan and G.A. and gives them a path to recovery.
So why would I join a company focusing on a space that evokes despair, fear, and stigma? Because debt collection is the area of financial services that most desperately needs transformation. Because new technologies combined with deep empathy can transform it. And because in this space, I see for myself new challenges, new opportunities, and most importantly, a way to help a large population in need.
Three months ago, I left a team I had built and walked into the unknown. Today I start my new adventure, joining a company with a truly inspiring vision that I am determined to transform into reality.
Laura Marino is a senior product executive and guest lecturer at Stanford University. She has extensive experience in product management, M&A analysis, and definition of corporate strategies. Laura is passionate about helping companies scale and innovate. She builds high-performing teams and translates business objectives into product strategy and actionable plans to successfully deliver new technologies to market.