Certified Professional Receivables Company
Company certification is granted to debt buying companies, collection law firms, third-party collection agencies and creditors that comply with uniform and rigorous industry standards of best practices including account documentation, consumer complaint and dispute resolution, vendor management, resale, and other operational procedures and pass a company background check.
Certification for debt buying companies: Debt buying companies who are actively purchasing portfolios must complete their CPRC designation by March 1, 2016 (or two years from their membership date for newer members). Debt buying companies who are not actively purchasing receivables must meet the following requirements to remain an associate member:
- Must have an individual in your organization complete the Certified Receivables Compliance Professional certification by March 1, 2017
- Must not have purchased an account since your last membership renewal
- When you purchase an account, it must meet all the requirements and standards outlined in the certification program
- Must complete your company certification within one year of purchasing an account
Certification for collection law firms and third party agencies: Collection law firms, third party collection agencies, and creditors may voluntarily seek the CPRC designation but it is not a requirement in order to maintain their RMA membership.