Friday, November 29, 2013
Talking Of Guidelines For A Debt Collection Agency
By Robert Sutter
I believe that there are a number of rules to consider when it comes to a debt collection agency. Each of them is going to come into play in order to take care of any debt-related case that comes about. That being said, what are some of the most vital rules that you can take into account, you may wonder? There are a number to take into account but, in my opinion, these are the rules for such an agency to follow that stood out most to me.
One of the primary rules about a debt collection agency is that it has to stay within communication during certain hours of the day. More specifically, the Fair Debt Collection Practices Act states that only between the hours of 8 AM to 9 PM are collectors to stay in touch with debtors. Anything else is against the rules, which are especially important in this field. Make sure that you understand this so that you will be able to understand authorities like Rapid Recovery with greater clarity.
Another rule has to do with communication, of which there are a number of methods. Typically, phone calls are going to be the way to go but with technology at an all-time high, chances are that the Internet is going to be seen as a favorable platform as well. However, according to the FDCPA, collectors are not to use unprofessional means to contact debtors. One of the examples listed is postcards, so make sure that these are abstained from in favor of more professional - not to mention more reliable - methods.
If a debtor requests communication to be stopped, outside of litigation, it has to be honored. Keep in mind that this does not stop the case, since the matter of debt is something that should still be addressed. This rule doesn't just limit itself to the home but other vital locations, such as the debtor's place of work. When this particular guideline is followed, it goes to show just how professional this particular line of work can be, provided the best agencies are set in place.
Anyone who has stayed in touch with a debt collection agency in the past will be able to tell you that there are a number of different rules to follow. Some may be more important than others, depending on how you are able to interpret them. However, every one of them is necessary in order for certain amounts to be attained in the long run. If you are able to recognize this, there's no question that you will be able to learn that much more about this type of entity.
One of the primary rules about a debt collection agency is that it has to stay within communication during certain hours of the day. More specifically, the Fair Debt Collection Practices Act states that only between the hours of 8 AM to 9 PM are collectors to stay in touch with debtors. Anything else is against the rules, which are especially important in this field. Make sure that you understand this so that you will be able to understand authorities like Rapid Recovery with greater clarity.
Another rule has to do with communication, of which there are a number of methods. Typically, phone calls are going to be the way to go but with technology at an all-time high, chances are that the Internet is going to be seen as a favorable platform as well. However, according to the FDCPA, collectors are not to use unprofessional means to contact debtors. One of the examples listed is postcards, so make sure that these are abstained from in favor of more professional - not to mention more reliable - methods.
If a debtor requests communication to be stopped, outside of litigation, it has to be honored. Keep in mind that this does not stop the case, since the matter of debt is something that should still be addressed. This rule doesn't just limit itself to the home but other vital locations, such as the debtor's place of work. When this particular guideline is followed, it goes to show just how professional this particular line of work can be, provided the best agencies are set in place.
Anyone who has stayed in touch with a debt collection agency in the past will be able to tell you that there are a number of different rules to follow. Some may be more important than others, depending on how you are able to interpret them. However, every one of them is necessary in order for certain amounts to be attained in the long run. If you are able to recognize this, there's no question that you will be able to learn that much more about this type of entity.
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Visit Rapid Recovery Solutions if you are seeking more information about the commercial collection services they offer.
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