Compliance isn’t just a good idea, it’s absolutely essential. It forms the core of our business practices.
There are numerous benefits to delivering industry-leading compliance practices. At the debtor level, they feel more comfortable knowing that a collection agency will treat them with respect. This creates a better relationship with debtors and allows for a different, more positive viewpoint of this industry.
Clients benefit from our compliance practices because they can be secure knowing that the collections agency they hired will be in compliance with all the laws. This helps to prevent costly lawsuits.
Lastly, our employees feel secure knowing their company is complying with the laws and conducting business in all the correct ways.
Which laws drive our compliance practices?
HIPAA – Health Insurance Portability and Accountability Act
This landmark law developed standards to protect the privacy and security of confidential healthcare information. By following HIPPA guidelines, Arcadia ensures clients that we deliver the highest degree of patient confidentiality. We apply tight administrative safeguards to make sure that patient information is protected to the highest degree.
HIPPA always supersedes state law unless the state law is even stricter.
FDCPA – Fair Debt Collection Practices Act
This law was enacted to amend the Consumer Credit Protection Act to prohibit certain practices by collection agencies and limits the information that can be provided to a third party. Among its stipulations:
- You must identify yourself to a third party
- If a debtor is represented by an attorney, information can only be requested from the attorney
- If a debtor wants to cease communication, it must be done immediately
- No collections can be attempted before 8 AM or after 9 PM
- Proper information must be given on answering machines
- No misleading information, improper language or threats should ever be used
- If a debtor requests validation of the debt, it must be provided
FCRA – Fair Credit Reporting Act
This Act regulates the use of consumer information in credit reporting. It gives debtors the right to request information that the company has for them and allows the debtor to dispute anything that they believe is not accurate. The Act also regulates how long a negative mark on an individual’s credit rating can remain on the report.
Be assured that Arcadia scrupulously follows the requirements of all federal and state legislation that governs our business.
