The 5 E’s

Industry experts InsideARM ran an interesting article this week entitled "The 5 E's: A Creditor's Guide to Managing Outside Collection Agencies", which offered some great advice on hiring, retaining, and getting the most out of a collection agency. It covers some vital elements of a successful relationship, including compliance with federal and state laws, establishing security protocols to protect your customers' personal data, and keeping your collection agency "honest" with both you and your customers.