How debt collectors can help fight fraudulent practices

State and federal governments have become more active in the fight to identify and eradicate illegal or irresponsible debt collection practices in recent years. However, long-standing members of the debt collection industry can avoid becoming subjects of investigations by maintaining strict adherence to laws such as those contained within the Fair Debt Collection Practices Act.

The office of Kansas Attorney General Derek Schmidt recently released a statement that explained how the legal wing of the state's government will be working to reduce the number of fraudulent debt collection practices that affect its citizens. According to Schmidt, the state's Consumer Protection Investigators conducted several studies that found that most abusive calls received by Kansas residents came from overseas.

The office suggested that consumers and business owners always ask for verification of the debt in writing, and to never provide the caller with personal information over the phone. Debt collectors should ensure that they are following these procedures as well to avoid issues.

Data related to the creation and purchase of a debt continues to be the most crucial component of collection processes. Professionals in the industry should always ensure that they are getting all of the information necessary to verify debts when working to collect them from consumers or businesses.