Forums: Discussions for entrepreneurs and small business.

Hi all!

I'm just curious what sort of interactions you have had with collection agencies and your business. I deal with a lot of people whether working with an agency to collect an account or on the receiving end, and I'm shocked to see how many people are unaware of the Fair Debt Collection Practices Act. I made a little tongue-in-check list to help remember these rights.

http://blog.fundinggates.com/2012/04/debt-collector-from-hell

 

I'm curious to hear about your own personal experiences!

 

Best,

Meredith

 

 

-------------------------

Debt collection act is really helpful for consumers, as they can take advantage of terms and conditions mentioned in the act which states that debt collectors cant use unethical methods of collecting tax from consumers in any manner.

 

Consumer Credit counseling Florida

 

-------------------------

I have worked both business to consumer and business to business collections in the past and currently help manage a collections department for a mid sized company.  Generally we make sure to follow the rules spelled out in Fair Debt Collection Practices Act when applicable.  I have seen some companies, (that I am not associated with) who break the rules daily and I have seen the Feds come in and investigate complaints as a result.  For companies that have to do collections regularly a membership to NACM, (I am not associated with) might be a good idea.  At the end of the day though if the customer owes you money you should takes steps to collect that debt, just make sure you do so legally.  

-------------------------

PZ,

 

Do you work at a collection agency? Or do you work in the receivables department for a business?

 

Really great info!

-------------------------