Nov 23, 2016

Posted by in Business tips

What ethical debt collection practices mean for ACM Group

There is not a single company in Australia that does not have to deal with what is called delinquent debt. This fancy term refers broadly to sums of money that are owed past the traditional thirty day period. When it comes to collecting debt, the vast majority of business organisations prefer to sell the financial obligations for a discount to a debt collection firm. The firm that acquires the credit can then collect it on its own. There is a great number of debt collection agencies, which means that this line of work is lucrative. The main issue is, however, that professional debt collectors have the tendency to use methods that are not at all ethical. To be more precise, they persecute consumers, which is not at all acceptable. Despite the fact that there are many negative examples, there are also positive ones. ACM Group is the perfect example of a firm that practices ethical debt collection. The directors and CEO value ethical practices and it is worth discussing just how important they are for the firm.

What ethical debt collection practices are

Those who are behind with their bills are probably aware with unethical debt collection practises. Examples of shady practices include harassing, making threats and contacting third parties. It is not at all surprising that once they have dealt with this kind of behaviour, consumers are no longer willing to take phone calls or respond to emails. It is important to stress that business organisations that engage in these kinds of practices are liable to pay for damages, in other words they can be taken to court. Debtors do have rights and collection firms cannot do as they please.

How is ACM Group different

Taking into consideration that there are so many negative examples, it is only normal to wonder how a debt collection firm like ACM Group is different. This company manages to stand out from many others by following the rules. The employees do not have an idea of their own about what it means to collect debt ethically. On the contrary, they have a perfect understanding of what the industry says is ethical. Not only does ACM Group make sure not to overstep the legal boundaries, but also they are dishonest and fair. What can be understood is that the firm does so more than simply follow the rules.

What ethical collection practices mean for ACM Group

The main goal of ACM Group is to be an ethical leader in the industry of recovering money that is owed on delinquent accounts. Besides the fact that harassing consumers is not legal, it is nor moral. The bottom line is that trained professionals are humans, meaning that they are like everyone else. This is the reason why they try to reason with consumers and often put themselves in their places. People do not get in these kinds of situations willingly, but rather because they cannot afford to pay their bills anymore. What ACM Group does is help them settle their debts. It is a win0win situation because all participants profit.