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The
agency has been in business for a minimum of four
years prior to application for membership in the
CCAA.
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A
minimum of 80% of the agency's collection business
must be commercial in nature.
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The
agency agrees to maintain a separate Trust Account
into which all monies belonging to creditors are
placed. This Trust Account is reviewed twice
annually by the Executive Director of the CCAA.
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The
agency must agree to subscribe to the CCAA Code of
Ethics. The Code of Ethics sets ethical standards
for the agencies dealing with customers, debtors and
attorneys. A copy of the Code of Ethics can be found
on this Website. Failure to adhere to those
standards may cost an agency its certification.
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Agency
executives must meet continuing educational
requirements and attend regular CCAA meetings during
the year. These meetings are both informational and
educational in nature.
As
part of continuing education, the member agency must
complete sixty (60) continuing education credits
annually.
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The
agency agrees to post a surety bond in the minimum
amount of $300,000 for the protection of the
creditors it serves.
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One
individual in the agency must be a member of the Commercial
Law League of America.
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The
agency must agree to random periodic site visits
from the CCAA Executive Director.
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The
agency must be in compliance with all local and
state regulations governing its operation of a
commercial collection agency.
