10. 09. 17

Commercial Collection Agencies of America participated in the annual conference of North American Collection Agency Regulatory Association (NACARA) last week in Seattle, Washington. The association was honored to present “Collections: Commercial versus Consumer” for state regulators from across the United States. Annette M. Waggoner, the Association’s Executive Director collaborated with Sheryl Sailer, Investigator and Examiner with the North Dakota Department of Financial Institutions and past president of NACARA, to deliver a successful session for regulators and accounts receivable management industry representatives in attendance.

In addition to Waggoner and Sailer’s presentation, other sessions were presented by the FTC, Inside Arm, the CFPB, the Washington FBI and Manuel F. Newburger of Barron & Newburger and the Chairman of the Independent Standards Board of Commercial Collection Agencies of America.

NACARA ensures the fair and equitable administration of collection agency regulation throughout North America. NACARA member agencies regulate debt collectors through such methods as licensing or registration, compliance and consumer protection examinations, responses to complaints and administrative or civil enforcement actions.

NACARA regulators from various states routinely participate in each Commercial Collection Agencies of America meeting. Their valued participation, often times in roundtable sessions, serves as excellent continuing education for the association’s agency members. Regulators address continued problems seen during examinations, recommendations for changes for seasoned collection agencies and unique actions by states.

Commercial Collection Agencies of America is an organization of commercial collection agencies, creditors’ rights attorneys and law list publishers with members nationwide. Agency members of the organization work to elevate the standards of the commercial collection industry in an effort to better serve and protect credit grantors. Many members have been certified for over four decades. Certified membership in Commercial Collection Agencies of America identifies the elite in the collections industry. Each agency member qualifies for membership and earns the acclaimed Certificate of Accreditation and Certification by fulfilling a rigorous set of requirements annually. In an effort to ensure that collection and customer service practices comply with the strict code of ethics of the organization, members are also subject to on-going evaluation.

More information on NACARA can be found at www.nacaraweb.org.

09. 07. 17

Commercial Collection Agencies of America is proud to announce the appointments of Mr. Alan Rosen and Mr. Jon Lunn to its independent Standards Board effective immediately.

Both Rosen and Lunn were recently approved by their Standards Board peers. “Alan and Jon bring a combined total of over eight decades of experience and expertise. They will be outstanding additions to the Standards Board,” commented Manuel F. Newburger, Standards Board Chairman.

The esteemed Standards Board is charged with the creation, review and amendment of certification requirements which are met by each member collection agency member to earn Commercial Collection Agencies of America’s Certificate of Accreditation and Compliance. The Standards Board meets periodically throughout the year to achieve its goal.

Rosen, a senior manager in BDO’s Management Advisory Services practice, brings over thirty years of progressive consulting experience to his clients. He has identified and implemented solutions for strategic business issues facing Fortune 500 and 100 clients in diverse industries, while also being a trusted advisor to C-level executives with his knowledge of benchmarking, best practices, process innovation and finance transformation.

Lunn, a tenured collection professional, currently serves SKO Brenner American as its Executive Vice President. During his career, he was President of another prominent collection firm and started his career at Dun & Bradstreet, holding positions in operations management and sales. Lunn authored the Consumer and Commercial Collection Desk Book, published by Prentice-Hall, a reference guide for industry practitioners. He has lectured extensively and served as a faculty member of the New York Institute of Credit for ten years, while also being a contributor to the Wall Street Journal, Business Week and Newsday.

“Most assuredly, the unique skillset of each gentleman will be a marked benefit to the Independent Board, which has created a superior certification program considered the platinum standard in the industry,” noted Annette M. Waggoner, Executive Director of Commercial Collection Agencies of America.

Waggoner continued, “We are eager to work with both Alan and Jon, as we are confident that their breadth of experience will be invaluable to achieve the Board’s mission of creating and maintaining a certification program for commercial collection agencies necessary to provide the credit granting community a quality program upon which can undeniably be relied.”

07. 24. 17

During August 7-9, 2017, Commercial Collection Agencies of America will meet credit practitioners at CRF’s Expo and Credit & Accounts Receivable Open Forum in Denver, Colorado.  The country's largest expo features an array of leading-edge service providers, who offer valuable resources to the credit and accounts receivable community.During August 7-9, 2017, Commercial Collection Agencies of America will meet credit practitioners at CRF’s Expo and Credit & Accounts Receivable Open Forum in Denver, Colorado.  The country's largest expo features an array of leading-edge service providers, who offer valuable resources to the credit and accounts receivable community.

In booth #36, Commercial Collection Agencies of America staff will network with the country’s leading risk management professionals and will distribute statistical reports of the collection industry, which are useful tools in credit departments, amongst sales staff and with C-level executives.

Over 80% of the agencies who will exhibit at the Expo hold a Certificate of Accreditation and Compliance, granted by Commercial Collection Agencies of America, by adhering to the rigorous requirements of the industry’s superior certification program.

In fact, Credit Research Foundation endorses the certification program of Commercial Collection Agencies of America as the prototype and standard for third party commercial agency membership within the Foundation.

The Platinum Partnership of CRF and Commercial Collection Agencies of America is an example of the collaboration of two esteemed organizations which offer the highest level of education and resource to their communities.

Whether attending the Expo or not, credit personnel should make certain their third party receivable resource is a member of Commercial Collection Agencies of America.  By using a certified agency, firms ensure that their outside source is amongst the most experienced, ethical and knowledgeable agencies in the United States.  Agency members protect firms’ bottom lines and restore billions of dollars to the economy, while upholding the professionalism in the commercial debt industry.  

07. 03. 17

(The following article was published in Credit Research Foundation's 2Q 2017 News.  Commercial Collection Agencies of America is a proud Platinum member of Credit Research Foundation!)

By Annette M. Waggoner, Executive Director
Commercial Collection Agencies of America

When a creditor places a delinquent receivable with a certified commercial collection agency for collection, the creditor may authorize the agency, when necessary, to retain an attorney in the area where the debtor is located. The attorney is selected by the creditor and/or the agency with a specific provision that a lawsuit will not be filed without the creditor’s prior authorization. It is incumbent on the creditor to determine whether the likelihood of recovery on the claim, and the probable amount of recovery, will justify the time and expense of litigation. Consultation by an agency and attorney can assist in that task.When a creditor places a delinquent receivable with a certified commercial collection agency for collection, the creditor may authorize the agency, when necessary, to retain an attorney in the area where the debtor is located. The attorney is selected by the creditor and/or the agency with a specific provision that a lawsuit will not be filed without the creditor’s prior authorization. It is incumbent on the creditor to determine whether the likelihood of recovery on the claim, and the probable amount of recovery, will justify the time and expense of litigation. Consultation by an agency and attorney can assist in that task.

The agency and attorney can evaluate the claim for suit worthiness, establish the viability of the corporate entity (and personal guarantor, if applicable), determine if the statute of limitations has expired, examine the risks of initiating a law suit and discuss the willingness to defend a counterclaim if brought against the creditor.

Agencies forward claims to a network of attorneys across the United States and abroad. The advantage of using an agency’s network is that attorneys receive many claims in their locale from the agency and represent many of the agency’s clients. A tenured, certified commercial collection agency has long-standing relationships with attorneys who specialize in creditors’ rights within each state. These relationships ensure that the attorneys handle each matter in an expeditious manner, represent the creditors with the utmost professionalism and provide detailed and timely reports of progress throughout the life of the lawsuit.

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04. 19. 17

Commercial Collection Agencies of America recently released its year-end report and analysis of delinquent account placement with its agency membership. Annette M. Waggoner, Executive Director reports the number of commercial (business to business) accounts placed with agency members rose by 10.82% in 2016 when compared to 2015.

The dollar amount of accounts placed increased by 10.58%. Ms. Waggoner noted that the second quarter of 2016 registered the largest dollar amount of placements in the eight quarter history studied while the fourth quarter registered the second largest dollar amount of placements.

The association also studied the average-sized account placed with agency members, which ranged from just above $2,400 to slightly above $3,100 in both 2015 and 2016. The average-sized account in the fourth quarter of 2016 was 16.64% higher than in the fourth quarter of 2015.

An expanded study also provided an analysis for the pre-recession period through current day. Regarding the number of accounts placed, at the outset of the recessionary period, 2007-2009, agencies reported an increase, followed by a sharp decline from 2010-2013. In 2014 and 2015, there were numerous fluctuations between quarters, while a steady increase was exhibited in 2016.

The same study examined the dollar amount of increases. Between 2007 and 2009, there was a consistent increase in the dollar amount of commercial accounts placed with third party agencies. Between 2010 and 2013, there was a consistent decline. As seen in the number of accounts placed, the index fluctuated between quarters in 2014. In 2015 and 2016, the highest levels in the dollar amount of accounts placed were reported.

The increases in number of accounts placed and dollar amount of accounts placed are encouraging to the seasoned professionals, which make up the membership. While manufacturing output is increasing and according to the economists, industrial sector output growth has been improving over the past months, members note that significant gains in their clients’ sales will have to occur before a notable uptick in account placement will be realized.

Commercial Collection Agencies of America is the premier association for commercial collection agencies, elevating the standards of the collection industry by providing the superior certification program in the industry. The association requires adherence to a strict code of ethics in addition to fulfillment of continuing education of its members. The rigorous certification requirements, set by an Independent Standards Board, ensure that member agencies provide the highest level of professional service while they collect billions of dollars on behalf of creditors worldwide.

A director of certified agencies and affiliate members can be found by clicking "Members" above.