Compliance Archives - LocateSmarter Blog

GASP Data Sharing with Your Competition?

By Julie Anderson
on Nov 09, 2017
in Compliance, Skip Tracing

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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