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Debt Collector Complaints on the Rise – What’s the Real Story?November 23, 2010

Various reports have indicated that complaints to the FTC regarding debt collectors have risen from about 95,000 in 2007 to 119,000 in 2009.

While there are debt collectors who do not follow the laws and regulations or operate too much in the grey area, most consumers are actually confused and frustrated about the laws that were actually enacted to protect the consumer.

There are many factors to consider when selecting a collection agency, but one of the most important factors is net back dollars.

Creditors and Collection Agencies have to work together and demand an environment that allows for more effective and less expensive communications with debtors.

Sooner or later within your company’s customer base, someone – whether a long time customer or a new client – is not going to pay a bill. Driven by the difficult economy, more businesses are turning to professional collection agencies to address increases in delinquencies.