Applying Antiquated Laws to Current Collections Technology

So the question is how these outdated laws are applied to current collections and debt buying technology? This is a difficult area and gray. The beginnings of understanding how these laws apply to current technology is to first understand exactly what these laws mean for the industry. There are some fundamental principles that are commonly known about the two acts. However, a thorough knowledge of the Internships Fair Debt CollectionLaw> will be very difficult to cover in this type of setting. The best way to understand these laws is to take courses in their meaning and use of field collections.

The most important and best known law, consumer protection phone for the collections industry is the act that prevents contact by telephone, without the express consent of the consumer. There is a big problem with this. According to a study byPew Internet and American Life Project, 25 percent of Americans only have a cell phone and landline. The Fair Practices Debt Collection Act limits further by prohibiting telephone contact to the home of a working person or company are personal calls are prohibited by company policy. Therefore, 25 percent of Americans, there is no way to contact them by phone collections industry. This is a problem, and we must learn to find ways around it, finding other means of contact.

This is where things get risky. There are laws against spam, but other than that there are no laws on the use of the Internet to contact someone to collect a debt. If a collector is the email address of a debtor can use the e-mail in almost all sense to choose to contact the debtor regarding the debt. This is totally unregulated. Due to this fact, manyCollections> Agencies not using the Internet to contact the debtor, because he is not sure where the boundaries are. So basically, the only way to get in touch with these people is email, which is very unreliable because people can throw away the call without thinking twice.

E 'of vital importance, such as debt buyers or collections, you fully understand the laws and how they affect the industry and our current rapidly changingtechnology. It is the responsibility of those involved in the collection of a good education in these areas, ensuring it is operating within the law and still see the results in its collection efforts.

Failure to know, understand and follow these laws can result in costly lawsuits against the company and individual collection, the tax collector. WebRecon Stats LLC (http://www.WebRecon.com), more of 1750 claims arealready been filed this year. Of those, 1676 were FDCPA violations, 181 FCRA violations, 88 TILA violations and 97 TCPA. Sadly, those numbers are continuing to climb each and every month.

In an industry that resolves around numbers, it's really simple. Lack of education can cost you BIG dollars and perhaps kick you out of the game permanently.