Do More Collectors Mean More Violations?

Most of us probably wouldn’t know Bill McCollum if we tripped over him but Mr. McCollum may know you.

He is the attorney general of the state of Florida and his office is in court with four collection firms in the Jacksonville area, charging them with a variety of items including violating the FDCPA ("Florida AG Keeps Hitting Jacksonville Collectors," Dec. 3).

A spokesperson for McCollum yesterday told insideARM.com the AG isn’t targeting collectors in Jacksonville. The city is home to a growing number of financial service firms, she said, and so there are a number of firms that are abusing laws related to collecting debt.

Many in the collections industry after hearing this story probably assume that Mr. McCollum is ambitious, and that collection firms are a pretty reliable target for ambitious politicians.

The second conclusion is that an increase in collectors means an increase in violations. Or put it another way – More collectors means more law breakers.

That’s a gut blow that many in this business refuse to acknowledge.

There’s some truth to both conclusions.