Browse Category: Compliance

Data Sharing With Your Competition

*GASP* Data Sharing with Your Competition?

Litigation runs high in the collection world. The many regulations and regulatory bodies to contend with creates a minefield for agencies: FDCPA, FCRA, TCPA, UDAAP, CFPB…

A lot of litigious action stems from consumer complaints regarding attempting to contact the wrong person. If an agency attempts to call a number 100 times and on the 101st attempt finds out it is not even the correct party, it can be setting itself up for an FDCPA claim. It would be much easier if the agency had the right contact information in the first place, but how can they reliably know it’s the correct information before they dial? If you’re collecting as a secondary tier agency, it might very well be that the agency who had the account before you knows exactly that.

But wouldn’t that mean data sharing with a competitor? Gasp!

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We’re glad you stopped by to check out the LocateSmarter blog, an online resource that delivers meaningful information provided by end-users, for end-users. During the coming months we will be adding new posts covering a wide variety of industry-related news and topics. Our objective is to give you information that you will find valuable and useful. From government regulation and compliance issues to professional insights on phone data and address append processes, our goal is to help keep you up-to-date and ahead of the skip tracing curve.

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