Are you
thinking of hiring professional debt collectors to work for you? If so, then
you need to choose your debt collection agency very carefully. While most
people are aware that debt collectors get continually abused and shunned throughout the day, what they don’t realize is that debt collectors can
sometimes be “abusive” too, which could land your business in a world of
trouble. At times, it’s considered
abuse if a debt collector simply acts in a way not approved or allowed by
federal regulations.
The Consumer Financial Protection
Bureau is a federal agency that exists for the sole purpose of protecting
consumers, even (or especially) if they’ve defaulted on their bills. This
agency gets a lot of complaints about debt collectors. Among the most common
are that collectors tell lies, make irrational or uncalled-for threats, call
consumers at work, or call at inconvenient times. While some of these
complaints don’t garner much attention, the complaints are definitely taken
seriously if it’s clear that, in the process of attempting to collect a debt,
the debt collector has broken a law.
So, what would happen if one of your hired debt collectors
broke the law? Well, it really depends on the situation, but you could find
yourself paying fines and fees or even in a courtroom facing litigation.
Obviously, this is not something you want to take chances with. Take the time
to hire a reputable, skilled debt collection agency that has a long term business history and that practices in accordance with the law.
Debt collection is a tough business and even the most experienced pros
can lose their cool, so it’s smart to have some type of liability insurance
or a liability agreement to protect you just in case something goes wrong.
These days, you can really never be too careful, especially not when your
business and your livelihood are on the line. #HireKinumToCollect
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