The number one challenge facing most collection agencies is the threat of litigation from consumer attorneys. FDCPA lawsuits have risen almost exponentially over the past five years. It’s been so bad for some collection agencies that it has almost put them out of business. But it’s a different story for us here at North American Recovery. Our company culture centers around being 100% compliant with ALL federal and state collection laws. We design every process, every system, and every procedure with the underlying philosophy of making sure that every outcome will be fully compliant with all statutes. We look at it as a challenge: 100% compliance—no exceptions!
With the recent rise of the Consumer Financial Protection Bureau and its heightened regulatory scrutiny, most clients put great stock in a collection agency’s compliance program. At North American Recovery, we take pride in having one of the most robust, innovative, thorough, and complete compliance programs in the industry. We understand the value our clients place on using an agency that is fully compliant with all federal and state requirements. We go above and beyond the industry standards when it comes to compliance.
We have literally hundreds of compliance and quality-control checkpoints throughout all departments and all positions in our company. Our employees understand the importance of being fully compliant. This results in our achieving one of the highest levels of regulatory compliance in the collection industry.
Rest easy. Your accounts are with NAR. We know what it takes to deliver outstanding results—while being fully compliant.