In the late 1980s, Chip Fudge came to a realization that changed the course of his business. He was running the collection agency his parents started 20 years earlier, and one of its clients, Southwestern Bell, asked the team to help with some property claims it was struggling to recover.
It was a lightbulb moment that opened his eyes to new opportunities, Chip’s son Taylor Fudge tells Entrepreneur. “My dad figured out quickly that he liked negotiating with an insurance carrier and an insurance adjuster versus somebody with a past-due telephone bill.”
That recovery work led to a pivot that eventually resulted in the debt collection agency becoming three different organizations:
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