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In 2012 DBA International launched the DBA International Receivables Management Certification Program to create a minimum compliance standard for its membership. The idea behind it was to add value to membership by having it mean more than just a company that pays their dues and maintain their membership. Since then the program has continued to evolve, being recognized by state and federal regulators.

Creating a Degree of Separation

There are few things that a collection agency and/or debt buying company can do to really stand out from the “bad apples” and DBA Certification is just another degree of separation that can be created. The certification is not perfect and those “bad apples” could themselves become certified, but few will undergo the effort and expenses required.

The Added “Burden” of Certification

One of the complaints I have heard from industry participants that do not want to take on any extra burdens to maintain their membership with the DBA. Personally, I am a Certified Receivables Management Professional and I work with a Certified Receivables Management Company called Lismore Holdings. From my experience becoming certified, I believe that every company participating in the Accounts Receivable Management (ARM) industry needs to be following the certification guidelines. The standards required by the DBA are simple, and although there are added costs, including the application fees, certification fees, and fees for being audited bi-annually, these costs are minor when considering the value certification can add to the discussion with regulators and creditors.

DBA Certification Audits

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Acumen Solutions Group – Certified DBA Auditors

As part of maintaining DBA Certification, companies are subject to bi-annual audits. These audits are focused on the companies compliance with the DBA Certification Standards and nothing more. Auditors are not there to cull through your financial statements or other business records, they go through a formal process of evaluating your compliance with the standards required of certified individuals and companies.

ComplyARM is NOT a Certified DBA Auditor because each of our partners each have interests in debt buying companies, giving us great compliance experience, but disbarring us from participating as DBA Auditors. We recommend that Certified Receivables Management Companies discuss their auditing needs with our partner Acumen Solutions Group. Acumen has a team of auditors capable of walking you through the process quickly and easily.