Debt collection software plays a pivotal role in streamlining operations, ensuring regulatory adherence, and enhancing collaboration for maximum efficiency.

The CFPB has proposed new rules for the debt collection industry providing clarity and guidance for consumer communications and data handling.

Data security is a hot topic in 2019 after a large medical debt collection agency went bankrupt after their proprietary software platform was breached.

The debt collection industry performs valuable services and should receive the respect they are due. Encourage happy consumer testimonials!

Compliance has become the competitive differentiator in today's collection industry. Clients want companies which can collect as much money as possible, while staying well within the bounds of collection litigation. Collecting the right way leads to collecting more clients.

Proposed regulations that increase hurdles for the collection industry to operate effectively are being proposed at both state and federal levels. Contact your legislative representative now to be heard. The collection industry is legitimate and deserves legislative respect and support.

A recent TCPA ruling determined that any device that stores telephone numbers to be called regardless of number generation capabilities, constitutes and automated dialing system, expanding the definition of an autodialer and throwing the ARM industry into even greater confusion on the topic.

The TCPA requires any company to obtain expressed consent before contacting them via a mobile phone, whether by call or SMS text message. That said, there are some caveats, such as a one-call safe harbor. Use technology to track and facilitate those risks to stay out of trouble.

In the debt recovery industry, CIA stands for Communication, Integrity, and Availability. This is an acronym Jeremy Mapes promotes to prioritize issues when evaluating web based software platforms. Your vendor should be able to detail how data is protected, backed up, and accessed by trusted users.

Regulation in the debt collection market is inconsistent and frustrating for agency owners. Calls for consistency in the regulatory environment has become a chorus over the years, but with no coordination between the various regulatory agencies. Leadership changes to the CFPB bring new hope. Or not.