Debt Collection Industry Hears the Complaints of Customers

Mobile Phones 1Thanks to smartphones and tablet computers, society is constantly wired in to what’s going on around them. News sites let you create an email alert whenever your favorite topic gets a mention. Your Twitter feed is full of opinions from people you know and don’t know, and it’s all available in the palm of your hand. Whenever something negative happens to a customer, anyone connected with them through social media will immediately find out what happened.

This lightening-fast connection to one another is something many companies have a public relations strategy to handle when things go wrong. Just think about how damaging a complaint that goes viral can be for a company. In one instance, a United Airlines passenger had his $3,500 guitar broken by a careless baggage handler. United’s response to his complaints prompted the musician to make a video about his experience. It went viral and within four days of its release, United’s stock fell 10 percent, representing a $180 million loss to stockholders.

The message is clear: treat your valued customers like they mean something to you or you will experience the consequences.

The Consumer Finance Protection Bureau (CFPB) has made it easy for unhappy customers to make official complaints on its website. An item on the CFPB’s home page allows users to click on it and choose a product or service where they’ve experienced something negative. What’s in the top three most common products or services? Mortgage, debt collection and credit reporting top the list.

When submitting a complaint on debt collection, it can be about anything, from credit cards to mortgages and anything in between. Consumers are asked what type of debt they have that prompted the offending collection practice, what type of violation the collector made, a box where a full description of the event can be entered and another box where the offended party can state their desired resolution.

The database, as of early March, had hit more than 10,000 complaints, which averages out to around 200 complaints a week. Unfortunately, there are a few debt collection firms that have the expertise to do their jobs right, but for the sake of profits, push the boundaries of what’s ethical and what’s legal. In doing so, they hurt the image of the industry, which provides a vital piece of the puzzle for successful businesses. Yet there are reputable debt collection companies

Too many businesses are finding their growth potential hampered by late paying or non-paying customers. Reputable debt collection agencies offer these companies a service that allows them to get their money back while also keeping their public image in a positive light.

Organizations that are wary of debt collection agencies quickly have their opinions turned around when they partner with Omega-RMS, llc. Proper training, state-of-the-art hardware and software are what keeps Omega-RMS on top of what companies need to protect their brands while recouping losses.