DBA International, the largest trade association representing the debt buying industry, announced Thursday that it has formally adopted a "Statement of Principles and Guidelines for the Sale and Purchase of Consumer Debt."
The document outlines a set of core principles that represent the highest level of business, legal and professional conduct. It can be viewed at DBA International’s Web site: www.dbainternational.org.
A work group of representatives from DBA International and ACA International, the largest trade association for collection agencies, developed the guidelines.
“We strongly encourage each of our members to adopt these guidelines and apply them daily in the management of their businesses,” says Michael Bendickson, president at DBA International. “DBA worked hand in hand with ACA International’s Asset Buyer Division to develop these standards. Our organizations’ collaboration demonstrates how important it is for our industry to share a common goal for unified business practices.”
