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Debt buyers associations represent businesses involved in buying, selling, and collecting receivables. These nonprofit groups aim to set industry standards, promote ethical practices, and advocate for their members with lawmakers and regulators. Members gain access to certification programs, educational resources, and networking events, helping them stay compliant and build trust within the industry.
Key takeaways:
These associations play a vital role in maintaining professionalism and integrity in the debt trading industry.
Debt Buyers Association Benefits: Key Statistics and Certification Costs
Debt buyers associations serve as the unified voice for their industry, actively engaging with lawmakers and regulatory bodies to shape legislative, regulatory, and litigation outcomes at every level - federal, state, and local. Their efforts help members navigate both immediate operational challenges and broader, long-term strategies.
These groups play a pivotal role in representing members' interests before influential agencies like the CFPB and FTC, ensuring the industry's views are factored into rulemaking. They also provide critical legal support by filing amicus briefs in appellate cases - resources that individual companies often can't afford on their own. Beyond regulatory advocacy, these associations strengthen their members through comprehensive educational initiatives.
Professional development is a cornerstone of these associations, offering members tools to stay compliant and adopt best practices. For example, RMAI's Certified Receivables Business (CRB) designation will be mandatory for all debt-buying company members starting January 1, 2025. Certification costs, ranging from $1,500 to $3,500 based on company size, cover 19 key areas such as account documentation, chain of title, and consumer dispute resolution.
Additionally, Chief Compliance Officers can pursue the Certified Receivables Compliance Professional (CRCP) designation to stay updated on evolving regulations. Companies can also benefit from the "Family of Companies" option, which allows affiliated businesses with shared management to add entities for just $250 per business, reducing the overall cost of audits.
Members also gain access to extensive resource libraries filled with white papers, fintech insights, legal case summaries, and state licensing guides. ACA International further supports members with the ACA Huddle, a free weekly online session offering real-time updates on compliance and regulations, plus monthly Community Chats for peer-driven learning. These formats make it easier for members to stay informed without committing to lengthy seminars.
Advocacy and certification efforts naturally lead to valuable networking opportunities that help businesses thrive. Events like RMAI's Annual Conference and Executive Summit bring together debt buyers, law firms, and other stakeholders to explore secondary market trends and forge connections. Attendees can earn up to 15 certification credits during these events, with members saving up to $500 on registration fees by signing up early.
"GLCCA provides many networking opportunities for companies of all sizes. It also plays a key role in monitoring and providing feedback on legislative issues, which is relevant for the future of this industry." - Ben Mauch, Certified Services, Inc.
Specialized gatherings, such as the Cybersecurity and Risk Forum, offer IT and compliance experts a platform to address industry-specific challenges. Members can also join committees and task forces focused on topics like Data Integrity, Consumer Response, or Legislative Advocacy, allowing them to collaborate on shaping industry standards.
Debt buyers operate under close watch from federal bodies like the CFPB, FTC, and FCC, as well as all 50 state Attorneys General. To stay compliant, they must adhere to laws such as the FDCPA, FCRA, and TCPA.
Industry associations play a key role in helping members navigate these regulations. They provide state-specific resources, legal databases, and detailed guides on topics like statutes of limitations. With 32 U.S. states requiring licenses for debt collection activities, these associations keep members informed with "Member Alerts" and monthly newsletters that highlight changes in the law. This ever-changing legal environment makes certification programs crucial for ensuring companies not only meet but exceed compliance standards.
"It is imperative that we join an organization that advocates for the companies in this industry to do business in a compliant manner. I want to be a part of an organization that keeps a pulse on all regulatory matters." - Jeremiah Wheeler, Digital Recognition Network
Associations also provide representation before federal regulators and file amicus briefs in appellate cases - support that individual companies often lack the resources to manage on their own. These efforts further the industry's goal of maintaining ethical and effective practices.
The Receivables Management Certification Program (RMCP) is widely regarded as the "gold standard" for setting uniform industry standards that often go beyond legal requirements. Starting January 1, 2025, all RMAI debt-buying company members must hold the Certified Receivables Business (CRB) designation.
To achieve this certification, companies must first complete a pre-certification audit beginning March 1, 2024, followed by regular third-party audits to ensure ongoing compliance. The impact of these certifications is clear: while debt buyers account for less than 12% of complaints tracked by the CFPB, over 50% of RMAI-certified companies have had zero complaints, and only 2% report complaint rates above 1%. Additionally, Chief Compliance Officers (CCOs) can earn the Certified Receivables Compliance Professional (CRCP) designation, which is mandatory for CCOs in certified businesses.
"When the entire collection cycle is Certified, consumer protection is enhanced, as Certification standards for all business types meet, or in most cases, exceed the requirements of state and federal law." - Mark Naiman, Board President, RMA
Certification fees range from $1,500 to $3,500, depending on company size. Certified members enjoy reduced annual dues of $995, compared to $1,250 for non-certified associate members. Companies with affiliated entities can use the "Family of Companies" option, which allows them to add each entity for just $250 while sharing a single CCO and audit process. These rigorous certification standards help debt buyers uphold the ethical and operational practices essential to preserving the industry's credibility.
Being part of a debt buyers association goes beyond advocacy, education, and compliance - it provides practical tools and opportunities that drive operational success and industry growth.
Membership offers immediate access to essential tools that help keep your business on the right side of compliance. For instance, RMAI, representing over 600 companies in the receivables market, provides centralized libraries packed with updated industry insights and compliance materials. Members also receive timely regulatory updates through services like "Member Alerts" and "Daily Privacy Updates", delivering expert analysis on changes from agencies like the CFPB and FTC directly to your inbox. This means you don’t have to tackle new regulations alone - expert guidance is at your fingertips.
On a broader scale, the collective efforts of the industry make a significant impact. For example, money recovered by debt collectors leads to an annual savings of nearly $600 for every U.S. household. These resources not only simplify compliance but also contribute to ethical and efficient debt management.
Earning professional certifications through associations like RMAI can set your business apart in a competitive field. To date, 143 businesses have achieved the Certified Professional Receivables Company designation, while 237 individuals hold the CRCP certification. These credentials carry weight, as creditors increasingly favor certified partners when selling debt portfolios, boosting both compliance and trust in the marketplace.
Membership also opens doors to discounted or free access to webinars, live classes, and annual conferences that explore the latest industry trends and technologies. Attorneys can even meet Continuing Legal Education (CLE) requirements by attending these events. The investment in education pays off significantly - professional debt collection agencies recover up to 80% of overdue B2B invoices, compared to just 20–30% for in-house teams.
Membership connects you with a diverse range of industry professionals, including debt buyers, brokers, originators, law firms, and service providers. As Todd Lansky from Resurgence Capital, LLC puts it:
"The fact that RMAI comprises debt buyers, brokers, sellers, vendors, agencies, law firms, and service providers really makes for a comprehensive, productive marketplace".
These connections foster meaningful relationships that drive business growth and expand portfolios. Additionally, members can actively participate in specialized committees and taskforces, collaborating with industry leaders on advocacy and standards. The searchable certification directories also double as lead generation tools, making it easier for originating creditors to find and vet your firm when they’re ready to sell debt portfolios.
These benefits highlight how membership in a debt buyers association can support your business while contributing to the broader industry landscape.
RMAI plays a central role in promoting ethical practices and strong compliance standards within the debt buying industry. Established in 1997 and based in Sacramento, California, RMAI represents more than 600 companies, including debt buyers, collection agencies, legal services, and brokers.
One of RMAI’s key strengths is its active involvement with federal and state policymakers. This engagement ensures that the industry's perspectives are heard and considered. As Marian Sangalang of The Bureaus, Inc. puts it:
"Membership in RMAI allows us to actively participate with lawmakers around the country to get our points of view heard".
This close collaboration with regulators is reflected in its rigorous certification programs.
The Receivables Management Certification Program (RMCP) is widely recognized as the gold standard for operational excellence in the industry. Starting January 1, 2025, all debt buying company members must hold the Certified Receivables Business (CRB) designation to remain part of the association. Certification costs are in line with industry norms, and businesses under the same corporate umbrella can share certification for an additional $250 per entity through the "Family of Companies" designation. These measures reinforce RMAI’s commitment to integrity and professionalism.
In addition to certification, RMAI provides a wealth of educational resources. Members can access live classes, webinars, and annual events, as well as a Resource Library filled with white papers, compliance tools, and industry reports. Daily regulatory updates are also sent directly to members’ inboxes. Membership fees are tiered: $995 for certified members, $1,250 for associate and affiliate members, $550 for international members, while originating creditors enjoy waived fees. A one-time application fee of $275 applies to new memberships, except for originating creditors.
These benefits highlight RMAI’s dedication to supporting its members through advocacy, networking, and compliance resources, ensuring their success in the receivables management industry.
Debt buyers associations play a key role in shaping a responsible and ethical debt trading industry. By setting high standards - often going beyond federal and state requirements - these groups help establish professionalism that benefits everyone involved: debt buyers, sellers, consumers, and regulators alike. For example, companies certified by RMAI show notably low complaint rates.
Membership in organizations like RMAI brings a range of practical advantages. From access to real-time regulatory updates and compliance tools to networking opportunities at annual events, these resources are invaluable in navigating the increasingly complex regulatory environment. Certification programs further ensure that companies adhere to the highest standards of ethics and conduct, creating a solid foundation for success.
Beyond compliance, these associations foster a marketplace where debt buyers, brokers, sellers, and law firms can collaborate effectively. By promoting shared standards and trust, they reduce risks and open doors to new opportunities. Their advocacy efforts at both state and federal levels ensure the industry's perspectives are considered in policy discussions that shape debt trading practices.
The blend of advocacy, education, certification, and networking provides a strong platform for long-term success in the debt trading world. For professionals aiming to grow and excel in this field, joining an association is not just beneficial - it’s essential. As Mark Naiman, RMA Board President, put it:
"When the entire collection cycle is Certified, consumer protection is enhanced, as Certification standards for all business types meet, or in most cases, exceed the requirements of state and federal law".
Together, these elements help companies thrive while safeguarding the integrity and reputation of the entire industry.
Anyone involved in the debt buying or receivables management industry should think about joining these associations. Members typically include debt buyers, collection agencies, attorneys, creditors, and vendors. These organizations provide valuable resources such as compliance tools, networking opportunities, and educational programs. They’re especially helpful for professionals aiming to align with industry standards, access certification programs, and engage in advocacy efforts that can boost both credibility and success.
The Certified Receivables Business (CRB) and Certified Receivables Compliance Professional (CRCP) certifications play a crucial role in strengthening your business. These programs are designed to promote industry best practices and ensure adherence to strict operational standards.
Here’s the difference: CRB certification focuses on compliance at the company level, ensuring that businesses meet regulatory and operational benchmarks. On the other hand, CRCP certification targets individual professionals, highlighting their expertise and commitment to ethical practices.
Both certifications bring tangible benefits. They enhance your company’s credibility, build trust with clients and stakeholders, and help you navigate the often-complex regulatory landscape. By reducing risks and improving operational efficiency, these certifications contribute to long-term growth and a solid reputation in the receivables industry.
Before committing to membership dues for a debt buyers association, take a close look at what they offer. Key perks might include compliance tools, networking opportunities, and educational programs. It's also worth examining the organization’s standards and certifications to see if they align with your objectives and can boost your credibility in the industry.
Don’t forget to consider the group’s reputation, its advocacy work, and how useful its resources are. Finally, weigh the membership costs against these benefits to ensure you're making a well-informed choice.
More than a decade of Ivan's career has been dedicated to Finance, Banking and Digital Solutions. From these three areas, the idea of a fintech solution called Debepxert was born. He started his career in Big Four consulting and continued in the industry, working as a CFO for publicly traded and digital companies. Ivan came into the debt industry in 2019, when company Debexpert started its first operations. Over the past few years the company, following his lead, has become a technological leader in the US, opened its offices in 10 countries and achieved a record level of sales - 700 debt portfolios per year.
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