Avoid the Three Biggest Threats Facing the Debt Industry

The legal and regulatory landscape is rapidly shifting under the feet of ARM professionals. With new rules coming soon, debt collection operations need to start making changes in anticipation of codified requirements that did not exist a few years ago.

But what should debt collectors focus on? Where will the real change impact operations the most? A good place to start is with the complaints published by the CFPB.

In the latest episode of the ARM legal podcast The Debt Collection Drill, attorneys John Rossman and Mike Poncin discuss specific tactics to avoid issues involving CFPB complaints – specifically call volume, time-barred debt, complaints about creditors, and interest issues – as well concerns regarding leaving messages in New York and new developments on the TCPA. Mr. Rossman uses his recent meetings with the CFPB, the FCC, and consumer groups to inform the discussion regarding best practices for these topics.

Listen to the 17-minute audio recording below:

Avoid the Three Biggest Threats Facing the Debt Industry