By 2 Minutes
This is going to sound crazy and counter-intuitive, but if you keep reading, it should make sense by the end. When it comes to consumer complaints, if you are a creditor or collection agency, you want to hear as many of them as possible. A collection agency that is not receiving complaints might be in for some problems. How is that possible, you ask? If individuals are complaining to you about a situation, then it likely means they are not complaining to someone else, like the Better Business Bureau (BBB) or the Consumer Financial Protection Bureau (CFPB). You want to be the first line of defense when an individual is not happy about your debt collection inquiries.
Many collection agencies are now adding complaint portals to their websites, giving individuals the chance to sound off on an issue directly to the company, so that the company can look into the matter and try to resolve it without the individual going to a regulator, or worse, a plaintiff’s attorney.
InterProse sponsored a webinar titled, "How to Stay Compliant and Competitive" that aired in December of 2018. Check it out!
Think of the costs associated with investigating a complaint on your own. Compare that to what it costs when the BBB or CFPB sends you a notice that it has received a complaint about you, or when you receive a summons or a pre-litigation demand letter from an attorney. Handling the complaint on your own is likely going to cost you a lot less, and cause significantly fewer headaches.
On top of all of that, having your own complaint submission process is just good business. Collection agencies, by and large, want to provide great customer service and nobody wants to get a bad reputation. So, being forthright about managing complaints or issues with individuals should be at the core of any company’s branding and public relations strategies.
Complaints are a part of life. They are a part of doing business. 
Nobody should ever run away from a complaint. Complaints can open a window into a process or policy that needs to be changed or updated. Complaints can put a spotlight on employees who might not be doing their job. Complaints can help identify issues that, if fixed, could prevent lawsuits from being filed down the road. Nobody likes to hear complaints, but think of what happens if they are left unchecked and ignored, or if an individual goes to someone else to complain about you. It only makes the situation worse.
Bite the bullet and set up your own complaint submission portal if you haven’t done so already. It will save you in the long run.
