It is always important to ask questions, especially if you are not 100% certain of the subject matter you are discussing. This is even more important when selecting a company to recover your late payments and call upon people that are delinquent on their accounts. It is paramount to ensure your company of choice is expert in their field.
Today with the ever changing Federal and State regulations, it is more important now than ever to ask questions first before you have to answer for shortcuts or missteps that could result in hefty fines for lack of compliance with the letter of the law.
The next time you talk to a potential collection or debt agency be sure to have the following questions close by so you are not hit with Federal and State regulations later.
1. Is your company compliant with TCPA, HIPAA and familiar with state laws regarding compliancy?
Yes. In fact, Transworld Systems is compliant in all 50 states as well as having a Hold Harmless Statement in our agreement with clients.
2. Does your company perform background checks on collectors in required states?
Yes. We perform background checks on collectors in ALL states.
3. How are cell-phone calls handled?
Rules governing cell phones are complex and change frequently. You want a collections agency that is willing to give you a Hold Harmless Agreement.
4. What is a Hold Harmless Agreement?
Simply put, a Hold Harmless Agreement is an agreement or contract in which one party agrees to hold the other free from the responsibility for any liability or damage that might arise out of the transaction involved.
5. Do you know what PHI is?
Yes. PHI is Protected Healthcare Information. It includes any information about health status, provision of healthcare and payment for healthcare that can be linked to an individual. Be sure the company you choose ensures the security of that information.
6. Is your company licensed to collect in all states?
Yes. If you are billing regional, national or transient customers, it is important that your collections resource can legally collect in the states where your debtors reside.
Contact me for more ways to know if your collection agency will keep you protected from liability and potential penalty.
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