IACC Certifies First Two Commercial Collection Agencies

MINNEAPOLIS, MN International Association of Commercial Collectors Inc. (IACC), the world?s largest international trade association for commercial debt collection professionals, announces that two member agencies have recently fulfilled the requirements for IACC?s Certified Commercial Collection Agency Program.

The two agencies, Credit Decisions International Ltd. in Park Ridge, Ill., and State Collection Service Inc. in Madison, Wis., are the first to take IACC?s newest step in quality assurance, that is, having an objective third-party measurement of their performance through the IACC agency certification program.

The criteria for certification include membership in IACC, continuing education, a minimum bond of $50,000, an established disaster recovery plan and a staff dedicated to commercial collections. In fact, the company?s commercial collection manager must be an IACC certified collector. IACC further requires that a candidate for agency certification meets all of the state requirements for licensing (if any) in the state or states in which it has offices. The agency must not co-mingle recovered client money and operating funds; IACC has certain requirements in place to safeguard against this.

All applications are reviewed and verified by an outside CPA firm, adding an extra level of objectivity and professionalism. Credit Decisions International Ltd. president Louis Figueroa notes that this audit is one of the most important features of the new certification program because it provides an assurance that an objective review of an agency?s operations and accounting system has been conducted. “Certification is the direction of the future. In an increasingly competitive environment, certification gives an agency a way to show clients that their operations have been authenticated by an impartial reviewer,” Figueroa said.

State Collection Service president Tom Haag also appreciates the added level of legitimacy certification gives his agency. “It?s important to us that our customers recognize that we?re willing to demonstrate the care we take with their accounts and with our own finances,” he said. “We know that quality is important to our customers, and we believe that completing the IACC Certified Commercial Collection Agency Program requirements shows the quality of an organization.”

Members of IACC recover millions of dollars annually for their clients. They provide valuable assistance to credit departments in controlling mounting debts. IACC Certified Commercial Collection Agencies are dedicated to professional business practices and quality assurance and are therefore highly qualified to provide credit grantors with the expert collection services needed in today?s competitive business world.

To learn more about IACC and the IACC Certified Commercial Collection Agency Program, or to view the IACC membership directory and IACC?s Commercial Collection Guidelines for Credit Grantors, visit the IACC Web site at www.commercialcollector.com.