Collection law firm G. Reynolds Sims & Associates P.C. has completed DBA International's Certified Professional Receivables Company program and thus becomes the association's first certified collection law firm. DBA is the largest association representing debt buyers.
Reynolds Sims pushed for the expansion of the certification program to include collection law firms and third-party agencies. The program originally was designed for debt-buying companies and certification will become a requirement for membership in February 2016. Earlier this month, responding to an increasing number of inquiries, DBA expanded the program to include collection law firms and third-party agencies.
The certification program represents a comprehensive national standard of industry best practices, according to the association. It stresses responsible consumer protection, increased transparency and improved educational and operational standards within the industry.
The certification program consists of two types of certifications: a company-based certification and an individual-based certification required of a certified companys chief compliance officer and voluntarily chosen by other industry professionals.
As a result of the expansion of the certification program, DBA adopted nine new standards of best practices focused on activities performed by collection law firms and third-party collection agencies. New standards include subject matter associated with consumer complaints, trust accounts, bonding/malpractice insurance, professional conduct and the client-vendor relationship.
"Expanding the certification program strengthens compliance integration and ensures that the same rigorous standards are being upheld for the consumer, said G. Reynolds Sims, the firm's founder and chief compliance officer.
Before obtaining their company certification, Sims completed the individual Certified Receivables Compliance Professional designation.
Sims said the program "stresses responsible consumer protection, increased transparency and improved educational and operational standards within the industry."
DBA encourages all receivables management professionals and member companies to seek certification. More information on the DBA Certification Program, including full program requirements and applications are available on the DBA website.