The resolution of Consumer complaints against Debt Collection Agencies can help improve overall performance for the industry and provide our clients with a better return on their claims. The Consumer Financial Protection Bureau is working with Debt Collection Agencies to handle these complaints quickly.

The new service can provide Debt Collection Agencies with previously unavailable email notification on consumer complaints. This will allow the Agency to take action to resolve the problem faster. The process is designed to send an email to the Debt Collection Agency in the event of a new complaint or new activity on an existing complaint.

Members of the ​American Collector Association, however, have reported some bugs. Some E-mails don’t seem to get through for additional information; to ensure that companies are responding to complaints in a timely fashion.

The ​American Collector Association recommended to its members that they should continue to regularly check the Consumer Financial Protection Bureau secure company portal. This improved notification system will improve the speed and quality of handling debtor complaints. It should ultimately resolve many of the complaint problems and lead to an improved number of collected claims.

http://www.acainternational.org/cfpbarticle-cfpb-u…

Understanding debt collection and background screening best practices can save your business big money. Building up front applicant screening into your business processes costs you very little, but saves you so much in the end. If you haven’t already, partner with a full service debt collection and applicant screening company to guide your business to a place of security and prosperity. Contact us to sign up for a free account and get started protecting your business today.

ABOUT EXECUTIVE CREDIT MANAGEMENT, INC.

Executive Credit Management is a full-service Debt Collection and Applicant Screening agency with over 20 years experience located in Central New Jersey. We provide excellent service in the following areas: Employment Screening, Business Screening, and Tenant Screening. Executive Credit Management belongs to a number of Skip Tracing databases and offers services to help locate and confirm the current address of missing debtors. Other services provided are: litigation evaluation on all lawsuit decisions, improvement of the quality of the applicant data, Lawsuit Monitoring, Handling of Debtor Disputes. Executive Credit Management features the best Call Monitoring System in the Debt Collection industry.