INTERNSHIP AT A COLLECTION AGENCY: DISTRESSING OR FULFILLING?

Mathias Vanderwegen and Sarah Bruyneel are two students ofUC Leuven-Limburgwho have completed aninternship at the debt collection agency TCM Belgium. Together they could experience for themselves whether an internship at a collection agency is distressing or fulfilling.   They are final-year students in the business management option SME & entrepreneurship. They were given the opportunity toput theory into practice. Mathias ended up at TCM because he wanted to do his internship in the financial sector. Sarah found TCM through the school’s database and then contacted TCM from Cyprus where she stayed for her Erasmus.   During thethree monthsthat they did an internship at TCM Belgium, they performed the same tasks as the other employees. They were part of the internal credit controllers’ team.  

What were our expectations?

 Sarah: I didn’t really know what to expect. I was aware that I would have to manage the customer portfolio of the creditors to ensure that theirunpaid invoices were recovered. So, I guessed what my job was going to be, but in the end, I let it come to me. And I ended up in a very nice team. The weeks before 15 March and theCOVID-19lock down that we could spendworking in TCM’ s officeswere enjoyable. The first week they trained and guided us so that we could manage our tasks independently like the other employees. Personally, I found it difficult at first to contact debtors having financial difficulties. It is not always easy tocallthem and then ask them to make a payment. However,I had very pleasant conversationswith many debtors. Sometimes they just need a listening ear for their problems, and I was happy to help them and solve their payment issue with them so they could finally get rid of it. At the end of the phone call, they often thanked me for showing understanding and reallyhelping to get out of debt.  Mathias: I didn’t really know what to expect.I only knew vaguely what a debt collection agency was, but I had absolutely no ideahow they worked. I expected a quite administrative work with an accounting software. I was wrong. We were trained to be fully-fledged credit controllers, mainly in theB2Csector.  

How was the internship during the COVID-19 situation?

  Due to the corona crisis, we had toperform our tasks from homeafter 15 March. TCM supplied everything we needed to manage our portfolio. Naturally, we had questions from time to time.  We could always ask Sanne Mistiaen or another colleague (mainly) via Skype. We were helped immediately, and we were able to work further. Obviously, it was not so evident to urge debtors to make payment in by COVID-19 times. Many debtors were in temporary unemployment, so it washard for them to pay or even to meet repayment planscommitments. Notwithstanding, objectiveness coupled with understanding led us often to find an agreement with the debtor. We also considered thatthe dire crisis entailed huge problems for many creditors, including and not least financial ones. Hence the need for debtors to pay their dues.  

Plans for the future

Sarah: After my studies at UC Leuven, I will follow a transition year and a master’s year in French and English atICHEC Business Schoolin Brussels. It is not yet certain which orientation I will chose, but my goal is to learn more whiledeveloping my language skills, especially for the business management world.  Mathias: I would like to become anentrepreneur. My father owns a company specialised in cooling for the food industry. It has been my dream since childhood to follow in his footsteps. So far nothing has changed in my views. After my business management degree, I will start a specialization in cooling techniques.  I need toprepare myself to integrate the family business. Needless to say that my family’s company also has some problems with unpaid receivables, and the internship was a very valuable experience.  

Acknowledgment

  Finally, we would like to thank TCM Belgium and its team very much for learning us so much and always being ready to help us with our internship tasks and with our thesis. Carrying outyour internship at a collection agency is highly recommended. You learn a lot of new things such as legal and financial matters and it turns out that doing an internship at a debt collection agency is certainly fulfilling and actually not distressing at all.

INTERNSHIP AT A COLLECTION AGENCY: DISTRESSING OR FULFILLING?

Mathias Vanderwegen and Sarah Bruyneel are two students ofUC Leuven-Limburgwho have completed aninternship at the debt collection agency TCM Belgium. Together they could experience for themselves whether an internship at a collection agency is distressing or fulfilling.   They are final-year students in the business management option SME & entrepreneurship. They were given the opportunity toput theory into practice. Mathias ended up at TCM because he wanted to do his internship in the financial sector. Sarah found TCM through the school’s database and then contacted TCM from Cyprus where she stayed for her Erasmus.   During thethree monthsthat they did an internship at TCM Belgium, they performed the same tasks as the other employees. They were part of the internal credit controllers’ team.  

What were our expectations?

 Sarah: I didn’t really know what to expect. I was aware that I would have to manage the customer portfolio of the creditors to ensure that theirunpaid invoices were recovered. So, I guessed what my job was going to be, but in the end, I let it come to me. And I ended up in a very nice team. The weeks before 15 March and theCOVID-19lock down that we could spendworking in TCM’ s officeswere enjoyable. The first week they trained and guided us so that we could manage our tasks independently like the other employees. Personally, I found it difficult at first to contact debtors having financial difficulties. It is not always easy tocallthem and then ask them to make a payment. However,I had very pleasant conversationswith many debtors. Sometimes they just need a listening ear for their problems, and I was happy to help them and solve their payment issue with them so they could finally get rid of it. At the end of the phone call, they often thanked me for showing understanding and reallyhelping to get out of debt.  Mathias: I didn’t really know what to expect.I only knew vaguely what a debt collection agency was, but I had absolutely no ideahow they worked. I expected a quite administrative work with an accounting software. I was wrong. We were trained to be fully-fledged credit controllers, mainly in theB2Csector.  

How was the internship during the COVID-19 situation?

  Due to the corona crisis, we had toperform our tasks from homeafter 15 March. TCM supplied everything we needed to manage our portfolio. Naturally, we had questions from time to time.  We could always ask Sanne Mistiaen or another colleague (mainly) via Skype. We were helped immediately, and we were able to work further. Obviously, it was not so evident to urge debtors to make payment in by COVID-19 times. Many debtors were in temporary unemployment, so it washard for them to pay or even to meet repayment planscommitments. Notwithstanding, objectiveness coupled with understanding led us often to find an agreement with the debtor. We also considered thatthe dire crisis entailed huge problems for many creditors, including and not least financial ones. Hence the need for debtors to pay their dues.  

Plans for the future

Sarah: After my studies at UC Leuven, I will follow a transition year and a master’s year in French and English atICHEC Business Schoolin Brussels. It is not yet certain which orientation I will chose, but my goal is to learn more whiledeveloping my language skills, especially for the business management world.  Mathias: I would like to become anentrepreneur. My father owns a company specialised in cooling for the food industry. It has been my dream since childhood to follow in his footsteps. So far nothing has changed in my views. After my business management degree, I will start a specialization in cooling techniques.  I need toprepare myself to integrate the family business. Needless to say that my family’s company also has some problems with unpaid receivables, and the internship was a very valuable experience.  

Acknowledgment

  Finally, we would like to thank TCM Belgium and its team very much for learning us so much and always being ready to help us with our internship tasks and with our thesis. Carrying outyour internship at a collection agency is highly recommended. You learn a lot of new things such as legal and financial matters and it turns out that doing an internship at a debt collection agency is certainly fulfilling and actually not distressing at all.