State and Federal Compliance Standards are causing many collection agencies to look in the mirror and rediscover what really works for them. You will find that collection agencies are becoming specialists within very specific business segments and not simply taking on business that does not fit into their core business model and/or capabilities.
This is actually great news for creditors. They are able to locate collection agency partners who have real expertise in their business, and can actually act as a consultant and share best practices that truly work well within their specific industry.
If you really want to receive an experts opinion on trends within the marketplace make sure you do your due diligence and locate a collection partner with experience that fits your business. There is no room within our industry for agencies who are not willing to adjust to the times.