Free registration is required to access these resources. Login or Register.

Premium compliance products are also available in the insideARM Store

ACA International, the Association of Collection and Credit Professionals, today applauds the exceptional effort of America’s third-party debt collectors in resolving consumer complaints.  According to the Council of Better Business Bureau’s 2012 report on inquiries and complaint statistics, United States collection agencies resolved 86 percent of the consumer complaints received in 2012; exceeding the national average of 77 percent for all industries.

“While the goal is to avoid complaints, this year’s rate of resolution tops 2011’s 83 percent showing how serious debt collectors take consumer complaints and how committed they are at working with consumers to find solutions,” ACA International CEO Pat Morris said. “Since 2002, collection agencies have consistently been above the national average in resolving more than 80 percent of the consumer complaints filed with the BBB.”

Overall, the BBB system received nearly 1.5 million inquiries about collection agencies in 2012 and of these, approximately 24,500 (1.6 percent) were recorded as complaints.  The total number of consumer inquiries and complaints for all industries as tracked by the BBB continued to rise in 2012, now topping 117 million inquiries and 950,000 complaints. In 2011, the organization received a more than 97 million inquiries and 895,000 complaints for all industries combined.

According to Morris, “We will continue to provide educational resources to help our members, and their employees, prevent, manage and resolve consumer complaints.  It’s imperative that consumers not avoid debt collectors because, in many cases, the matter at hand can be effectively resolved through communication with the collector making contact.”

ACA International members continue working with federal and state regulators, lawmakers and enforcement authorities to ensure a balanced debt collection system that allows for consumer protection and the legitimate recovery of rightfully owed consumer debts.  The non-profit ACA International Education Foundation created www.askdoctordebt.org as a free resource to help ensure consumers contacted about these debts know their rights and better navigate the often confusing world of personal finance. No registration or sharing of a consumer’s personal information is required.

Third-party debt collection is essential to the national and state economies, which are built on the foundation that those who provide credit, goods and services expect to be repaid. Recovering these assets helps businesses survive, prevents layoffs, keeps cost down and ensures that credit, goods and services are available to consumers.

ACA International (www.acainternational.org) is the comprehensive, knowledge-based resource for success in the credit and collection industry. Founded in 1939, ACA brings together 5,000 members in the United States and abroad, and their more than 300,000 employees, representing third-party collection agencies, asset buyers, attorneys, creditors and vendor affiliates. ACA supports members through state and federal advocacy, training and resources.


Related Products

Telephone Communication Compliance: The CFPB's Consent Orders Thumbnail

Telephone Communication Compliance: The CFPB's Consent Orders

Our Telephone Communication Compliance: The CFPB’s Consent Orders guide is designed to help debt collectors comply with consent orders that hint at telephone communication violations. The report includes easy-to-understand explanations of each consent order and a comprehensive chart of all relevant consent orders, keeping the information you need right at your fingertips! This paper has been excerpted from insideARM's larger "The CFPB's Consent Orders Regulating the ARM Industry" report, available for sale now.

Staying Compliant – and Out of Court – with the TCPA Thumbnail

Staying Compliant – and Out of Court – with the TCPA

This reference guide distills the information presented in our webinar. It comes complete with a link to the full recording of the webinar – great for use for all-staff trainings and quarterly in-services -- as well as the slide deck and full transcript of the webinar. This guide doesn’t just walk through what agencies should and should not be doing, going forward -- it contains the full Q&A from the webinar, too. (This product is approved for DBA International Certification Credit.)

The CFPB's Consent Orders Regulating the ARM Industry Thumbnail

The CFPB's Consent Orders Regulating the ARM Industry

Our guide on The CFPB’s Consent Orders Regulating the ARM Industry is the first report of its kind designed to help debt collectors comply with consent orders. The report includes easy-to-understand explanations of each consent order and a comprehensive chart of all relevant consent orders, keeping the information you need right at your fingertips! This report will be updated quarterly.

UPDATED! CFPB’s Advice to the Consumer (through March 2016) Thumbnail

UPDATED! CFPB’s Advice to the Consumer (through March 2016)

The Consumer Financial Protection Bureau hosts more than 80 of the most common consumer questions about debt collection on its Ask CFPB website. And since the Bureau was created for the sole purpose of representing and protecting consumers, debt collectors need to know how the CFPB communicates with them. That’s why insideARM compiled the answers to all 88 questions in one user-friendly report. Using the CFPB’s guidance as a model for your own compliance priorities, policies and procedures means your company will be able to keep up with the Bureau before it feels the need to examine your agency. ALL ANSWERS UPDATED THROUGH MARCH 2016.

Advertisement