One debt collection mistake you want to avoid at all costs is failure to remain compliant when pursuing a debtor or attempting to collect a debt. Compliance related issues can be very costly and can expose your company to lawsuits and even criminal charges that can damage your wallet and your company’s reputation.
Unfortunately, those companies that have made it common practice to not pay their creditors have learned how to utilize debt collection laws against their creditors to avoid paying the bill. In some instances they can even back you into a corner causing you to have to pay them for debt collection mistakes.
Utilizing an experienced debt collection agency will remove your risk of liability issues, as trained debt collection agents understand the complex and ever-changing laws and regulations that govern debt collection.