Training for Compliance With the Law
The debt collection industry is a highly regulated field. Laws like the Fair Debt Collection Practices Act (FDCPA), the Health Insurance Portability and Accountability Act (HIPAA), and Gramm-Leach-Bliley Act—as well as myriad state laws designed to regulate collection activity—all create a veritable minefield for the unsophisticated collection agency. It's important that the agency you choose not only understands the basics of these laws but also provides ongoing training to all employees as new court decisions are handed down.
North American Recovery has an extensive initial training program and also conducts daily training classes. We also take great pride in the high level of detail in our work manuals. We write each document in a way that educates employees about a specific part of their individual jobs and how the law covers their actions when carrying out a particular task. This really helps individual employees make connections between a collection law and their specific job. We do this throughout the entire company, not just with collectors.
We also practice the philosophy of taking a conservative approach. Some agencies tend to "skirt the line" on some issues because they believe it will help them collect more money. However, we disagree. We know that an honest, conservative approach will result in successful recoveries, so that is how we run our business.