Debt Collection Compliance Report

A Debt Collection Compliance Report is a document that assesses and certifies a creditor or debt collector’s adherence to relevant laws, regulations, and industry standards in the course of attempting to recover outstanding debts. The report typically includes a review of the organization’s policies, procedures, and practices related to topics such as communication with debtors, data privacy and security, record-keeping and documentation, and complaint handling and resolution. The report may also include an analysis of the organization’s performance metrics, such as the percentage of debts successfully collected, the average time to resolution, and the number and nature of consumer complaints. The purpose of a Debt Collection Compliance Report is to demonstrate the organization’s commitment to ethical and responsible debt collection practices, to identify areas for improvement or corrective action, and to provide assurance to regulators, investors, and other stakeholders. The report may be prepared by an internal compliance officer or an external auditor.