DBA International has announced its Receivables Management Certification Program (CMCP) continues to be adopted within the industry with nearly 100 member companies and 200 individuals receiving certification.
Tuesday marks the deadline date for DBA International debt buying members actively purchasing portfolios to become certified.
"This significant accomplishment attests the value DBA’s certification brings to the industry and to consumers," said DBA International Executive Director Jan Stieger. "Working with certified companies gives consumers the assurance of knowing the company representatives uphold the industry’s highest professional and ethical standards."
DBA International introduced its certification program in 2013 to promote uniform, consumer-oriented, best practice standards for the receivables industry.
All active debt buying companies that are members of DBA International are required to be certified. New companies that join DBA International that are actively purchasing receivable portfolios must be certified within one year of becoming a member.
"This milestone is truly the culmination of our members’ vision for the receivables industry," said DBA International Board President Trish Baxter. "When DBA International members voted to amend the association bylaws in 2013 to require certification for membership by March 1, 2016, they were expressing their desire for the industry to coalesce around uniform standards of best practices designed to not only meet state and federal consumer protection laws, but in many cases exceed them. The fact is that certification is good for both consumers and the industry."
The Certification Program offers two distinct certification designations – the "Certified Professional Receivables Company" (CPRC) for companies and the “Certified Receivables Compliance Professional” (CRCP) for individuals.
The program was expanded in 2014 and now DBA grants company certifications to debt buying companies, collection law firms and third party collection agencies that comply with uniform and rigorous industry standards of best practices and pass a company background check. Individual certifications are required for each certified company’s chief compliance officer and are a voluntary designation for others in the industry.
The Receivables Management Certification Program includes a mandatory annual review of the program requirements to ensure that they evolve with industry best practices and incorporate any new statutory, regulatory and judicial developments.