Fair Debt Act
In today’s highly regulated environment, companies operate under an increasingly strict array of laws and regulations. First Solution works with our clients to effectively manage risk and put compliance at the top of our priority list. We put the following safeguards in place to ensure that all our staff, processes, and paperwork meets the highest standards of audit requirements:
- Comprehensive Oversight – Detailing and processing all documentation to ensure company policies, practices and enforced compliance initiatives are properly executed effectively
- In-depth Training – Promoting employee understanding of internal standards, procedures and requirements for FDCP and local legal regulatory requirements
- Tight Focus – On Due Diligence and Third-Party Relationships
- Continuous Monitoring & Auditing – Of Effective Programming
- Developing & Enforcing Standards – for Data Privacy & Security
We adhere 100% to agent calling scripts and the internationally recognized “Code of Conduct” which is a detailed compliance program protecting partner businesses against legal violations as well as the costs and consequences associated with them. In addition to being protected, our policies allow for partners to time to refocus on growing their business.
One of the fundamental reasons for which leading banks trust us is the important and robust processes that governs our ongoing Business Continuity Plan. We have successfully implemented this during COVID-19 and our clients have appreciated our Business Continuity Plan execution as the first company, who has implemented the BCP by engaging 100% of the work force from home. First Solution has defined processes for all its operational functions. These processes are implemented, reviewed, rectified and are in line with the rules and regulations of the local government.
The fundamental compliance checklist includes:
- Departmental controls functional checklist (DCFC)
- Self-Assessment (SA)
- Management Awareness Rating Standards (MARS)
Our Processes are focused on Compliance across our organization.
- Financial Conduct Authority
- Credit Services Association
- Call Recording
- PCI Compliance
- Training and Monitoring
- International Compliance
- Treating Customers Fairly
- Full Transparency
Data & IT Security
Our data security and IT policies are built to satisfy the requirements of the most security-sensitive financial institutions. Our infrastructure is designed to provide the highest level of protection for our Client’s data and is ISO 27001 certified. Which is validated by our multinational and local clients.
The technology mainframe is built under the guidelines of our Information Security Policy which covers company processes for data handling and its securities.
We have a secure physical office environment with strict document retention and collection management procedures.
Monitoring and Logging
Our system’s security and performance is constantly monitored by an extensive network of surveillance systems. Changes to our infrastructure, software and data are monitored, logged and reviewed.
Each department level, additional policies, standards, and procedures are developed for the implementation of First Solution IS policy with individual departmental policies and key processes which are dependable and range from the following: Read More
Fair Debt Act Adherence
First Solution takes pride in adhering to the FDCPA’s set compliance when collecting a debt. We have seriously considered the local state and government laws when building the foundation of our credibility and reputation. Our carefully analyzed collections procedures ensure that we act favorably in mitigating all risk and adhering to all points outlined in the Fair Debt Collection Practices Act Document. This is our part of our continued promise of excellence for our clients and customers.
“On recovery yield – on average he has been the top 2 on recovery yield. He keeps on moving from 1 or 2 between all the agencies on recovery rate in the region.”
Get In Touch
Email us with your questions. Our debt experts are standing by to hear from you. First Solution are ready to collect your debts. Send us a message today!