Launches Certification Version 11.0
The RMAI Certification Council announces the adoption of version 11.0 of the Receivables Management Certification Program (RMCP) after a lengthy development and review process. Several significant enhancements were added to the program in version 11.0, including:
- Expanding the program to include commercial debt.
- Creating a specialty certification for process servers.
- Requiring a Pre-Certification Audit for debt buyers, collection agencies, and collection law firms that seek initial certification on or after March 1, 2024. Applications received prior to this date will not require a Pre-Certification Audit.
“RMAI is excited to expand our highly respected certification program to include commercial debt,” said Anne Thomas, President of the Receivables Management Association International (RMAI). “The association’s goal has been and continues to be to provide a single compliance footprint from origination through payment, collections, litigation, and account closure.”
“After a decade of protecting the receivables industry and consumers through advancing comprehensive and uniform standards of best practice, it seemed to be an appropriate time to do the same for commercial loans as we launch into our second decade of certification.”
From Version 1.0 to Version 11.0, the program has expanded over the years from 19 standards to 63 standards, and from certifying only debt buyers to certifying debt buyers, collection agencies, law firms, brokers, process servers, and vendors.
For more information on RMAI certification for receivable businesses and individuals, please visit the RMAI website at www.rmaintl.org/certification. For more information on version 11.0, view our program overview.
This Member Alert is intended for members of the Receivables Management Association International, is for informational purposes only, and is in no way intended to provide legal advice. Members are encouraged to consult with an attorney of their choice for legal advice concerning this matter.