Top 11 Collections Specialist Certifications

Certifications are important for a collections specialist in the job market because they demonstrate that an individual has the knowledge and skills required to be successful in the role. They also provide employers with assurance that the individual is qualified, knowledgeable, and capable of handling difficult situations. Additionally, certifications can help a collections specialist stand out from other applicants who may not have taken the time or effort to become certified. Certifications can also lead to higher salaries and better job opportunities, as many employers prefer candidates who have obtained certifications related to their field.

The purpose of this article is to review some of the top certifications for Collections Specialists and explain how they can help advance a collections specialist's career.

What are Collections Specialist Certifications?

Collections specialist certification is a form of professional certification that validates an individual's knowledge and skills in the field of collections. This certification can help individuals to demonstrate their expertise and commitment to the industry, as well as provide additional credibility when seeking employment or promotion opportunities. The certification process typically includes an assessment of a person's understanding of collection laws, ethics, best practices, and communication techniques. Additionally, some programs may require applicants to complete continuing education courses or pass an exam in order to maintain their certification status. Ultimately, having a collections specialist certification can help individuals stand out from other job seekers and show employers that they have the necessary skills and qualifications for the position.

Pro Tip: Before taking a collections specialist certification exam, be sure to research what credentials and certifications are required by the state you plan to work in. Many states have specific requirements for individuals who handle collections activities, including the need for certain certifications or licenses. Additionally, make sure to stay up-to-date on any changes in regulations governing collections practices in your area.

Related: What does a Collections Specialist do?

Top 11 Collections Specialist Certifications

Here’s our list of the best certifications available to Collections Specialists today.

1. Certified Accounts Receivable Professional (CARP)

Certified Accounts Receivable Professional (CARP) is a certification program offered by the National Association of Credit Management (NACM). The CARP designation is designed to recognize individuals who demonstrate mastery of accounts receivable principles and practices.

The CARP program consists of two parts: a written exam and an online course. The written exam covers topics such as credit management, collections, customer service, dispute resolution, and financial analysis. The online course focuses on accounts receivable best practices and processes.

It usually takes approximately six months to complete the CARP program. To get started, applicants must submit an application form and fee to NACM. After submitting the application form and fee, applicants will receive instructions on how to register for the written exam and online course.

The cost of the CARP program varies depending on whether you are a NACM member or non-member. For NACM members, the cost is $400; for non-members, it is $500.

2. Certified Credit and Collection Compliance Officer (CCCCO)

Certified Credit and Collection Compliance Officer (CCCCO) is a professional certification program that provides credit and collection professionals with the knowledge and skills needed to comply with applicable laws, regulations, and industry standards. The CCCCO certification program is administered by the National Association of Credit Management (NACM).

The CCCCO certification requires applicants to complete an online course, pass a written exam, and submit a portfolio demonstrating their experience in the field. The online course covers topics such as consumer protection laws, debt collection practices, dispute resolution procedures, ethical considerations for credit and collection professionals, and more.

It typically takes about six months to complete the CCCCO certification process. To get started, applicants must first register for the NACM's Certified Credit & Collection Compliance Officer Program. This involves paying an application fee of $250. Once registered, applicants can begin taking the online course at their own pace. After completing the coursework, applicants must pass a written exam before submitting their portfolio for review by NACM staff members.

The cost of obtaining CCCCO certification depends on several factors including whether or not you are already a member of NACM. Non-members will need to pay an additional fee of $150 in addition to the $250 application fee mentioned above. Members who have successfully completed all requirements will receive their certificate within 6-8 weeks after submission of their portfolio.

3. Certified Collection and Credit Professional (CCCP)

Certified Collection and Credit Professional (CCCP) is a professional certification offered by the International Association of Commercial Collectors (IACC). It is designed to recognize individuals who have demonstrated a high level of knowledge, skill and experience in the field of collections and credit. The CCCP certification is an internationally recognized credential that can be used to demonstrate expertise in the areas of collections, credit and accounts receivable management.

In order to obtain the CCCP designation, an individual must pass a comprehensive exam administered by IACC. The exam covers topics such as legal compliance, collection techniques, accounts receivable management, credit analysis and more. The exam consists of multiple-choice questions and takes approximately four hours to complete.

To become certified as a CCCP, an individual must first meet certain eligibility requirements including having at least three years of professional experience in the field of collections or credit management. Additionally, applicants must also submit documentation verifying their work experience and education background.

The cost for taking the CCCP exam varies depending on whether or not you are an IACC member. For non-members, the fee is $495 USD while members pay $395 USD. Once you have successfully passed the exam you will receive your official CCCP certificate from IACC which is valid for three years before needing to be renewed.

4. Certified Professional Collector (CPC)

Certified Professional Collector (CPC) is a certification program offered by the American Collectors Association (ACA). The program is designed to provide collectors with the knowledge and skills necessary to effectively manage debt collection operations. It also provides a benchmark for professional standards in the industry.

The CPC certification requires completion of an online course and passing a final exam. The online course consists of modules covering topics such as legal compliance, customer service, negotiation techniques, and dispute resolution. Upon successful completion of the course, candidates must pass a final exam consisting of multiple-choice questions and short answer questions. The exam takes approximately two hours to complete and must be passed with an 80% or higher score.

The cost of the CPC certification program is $495 USD. This fee covers the cost of the online course materials, access to practice exams, and the final exam itself. Once certified, individuals must renew their credentials every three years by completing continuing education courses or attending seminars related to debt collection practices.

Overall, obtaining Certified Professional Collector (CPC) certification can help collectors demonstrate their commitment to ethical practices and professionalism in the field of debt collection.

5. Certified Debt Negotiator (CDN)

A Certified Debt Negotiator (CDN) is a professional designation that recognizes individuals who have achieved a level of expertise in the field of debt negotiation. The CDN certification is offered by the International Association of Professional Debt Arbitrators (IAPDA).

To become a CDN, individuals must complete an approved training program and pass an exam. The IAPDA offers several courses to help prepare for the exam, including online and in-person classes. The cost of these courses varies depending on the length and type of course chosen.

The exam itself covers topics such as consumer rights, debt settlement laws, credit counseling, bankruptcy laws, and debt negotiation strategies. It consists of multiple choice questions and is administered online or by mail. To pass the exam, candidates must score at least 70%.

Once certified, CDNs are required to maintain their certification through continuing education credits. They must also adhere to a code of ethics established by the IAPDA.

In summary, becoming a Certified Debt Negotiator (CDN) requires completing an approved training program and passing an exam administered by the IAPDA. The cost of these courses varies depending on the length and type of course chosen. Once certified, CDNs are required to maintain their certification through continuing education credits and adhere to a code of ethics established by the IAPDA.

6. Certified Credit Executive (CCE)

Certified Credit Executive (CCE) is a professional certification program offered by the National Association of Credit Management (NACM). The CCE program is designed to provide credit professionals with the skills and knowledge necessary to excel in their field.

The CCE program consists of five core courses and one elective course. The core courses are: Financial Analysis, Business Law, Credit Risk Management, Credit Policies & Procedures, and International Trade. The elective course can be chosen from any of the NACM's other educational offerings.

To become certified, individuals must complete all six courses and pass a comprehensive exam. It typically takes about six months to complete the CCE program.

The cost for the CCE program varies depending on which courses you take and how many credits you need to earn your certification. Generally speaking, it costs between $1,500-$2,000 USD to become certified as a CCE.

7. Certified Revenue Cycle Representative (CRCR)

A Certified Revenue Cycle Representative (CRCR) is a credential that recognizes individuals who have demonstrated knowledge and experience in the revenue cycle process. It is designed to validate the expertise of professionals working in healthcare finance and reimbursement.

The CRCR certification is offered by the American Academy of Professional Coders (AAPC) and requires passing an exam. The exam covers topics such as medical coding, billing, reimbursement, compliance, collections, and patient accounts management. To be eligible for the exam, applicants must have at least two years of experience in a revenue cycle-related field and meet other requirements set by AAPC.

The cost of taking the CRCR exam is $395 for members of AAPC or $495 for non-members. The exam takes approximately three hours to complete and consists of 150 multiple-choice questions.

Once you pass the exam, you will receive your official CRCR certification from AAPC. This certification must be renewed every two years by completing continuing education credits or retaking the CRCR exam.

8. Certified Financial Services Collector (CFSC)

Certified Financial Services Collector (CFSC) is a professional designation that recognizes individuals who have achieved a high level of expertise in the financial services collection industry. It is awarded by the International Association of Professional Debt Arbitrators (IAPDA).

The CFSC designation requires completion of an intensive training program, which includes classroom instruction and comprehensive examinations. The program typically takes about six months to complete, depending on the individual's schedule. To qualify for the certification, individuals must have at least two years of experience in the financial services collection industry and must pass all required exams.

The cost for the CFSC certification program varies depending on the provider chosen. Generally, it can range from $1,500-$2,000 USD.

9. American Collectors Association Credentialed Professional Collector (ACA-CPC)

The American Collectors Association Credentialed Professional Collector (ACA-CPC) is a professional certification program designed to recognize those who demonstrate the highest level of knowledge, skill and professionalism in the field of debt collection. The ACA-CPC credential is awarded to individuals who have successfully completed an extensive training program and passed a comprehensive exam.

To become an ACA-CPC, applicants must first complete the online training program offered by the American Collectors Association. This program consists of four courses covering topics such as federal and state laws governing debt collection, best practices for collecting on delinquent accounts, and ethical considerations for debt collectors. The cost for this training is $395.00.

Once the training has been completed, applicants must pass a comprehensive exam administered by the American Collectors Association. The exam covers all topics covered in the training course and tests applicants’ understanding of legal issues related to debt collection, best practices for collecting on delinquent accounts, and ethical considerations for debt collectors. The cost for this exam is $125.00 and it takes approximately two hours to complete.

Upon successful completion of both the online training course and the exam, applicants will be awarded their ACA-CPC credentials from the American Collectors Association. This credential serves as recognition that an individual has achieved a high level of knowledge, skill and professionalism in the field of debt collection.

10. National Association of Retail Collection Attorneys Certification Program for Collection Professionals (NARCA-CPP)

The National Association of Retail Collection Attorneys Certification Program for Collection Professionals (NARCA-CPP) is a professional certification program designed to recognize and promote the highest standards of professional practice in the collection industry. This certification program is offered by the National Association of Retail Collection Attorneys (NARCA), a non-profit organization that works to advance the interests of collection attorneys, debt buyers, and other professionals who specialize in consumer debt collection.

The NARCA-CPP program requires applicants to complete an online course and pass a comprehensive exam that covers topics such as consumer protection laws, ethical considerations, and best practices for collecting consumer debts. The course takes approximately 10 hours to complete and is available online or via a DVD or CD-ROM. The exam consists of multiple choice questions and must be completed within two hours.

In order to receive the NARCA-CPP designation, applicants must have at least three years of experience in the collection industry or equivalent education/training, be currently employed in the collection industry, and submit a $150 application fee. Once approved, applicants must pay an annual renewal fee of $100 to maintain their certification status.

The NARCA-CPP designation is recognized by many state bar associations as evidence of professionalism in the field of collections. It can also provide recognition from employers and clients that you are knowledgeable about current laws governing collections and ethical practices related to debt collection activities.

11. International Association of Commercial Collectors Certification Program for Collection Professionals (IACC-CPP).

The International Association of Commercial Collectors Certification Program for Collection Professionals (IACC-CPP) is a professional certification program designed to recognize and validate the knowledge, skills, and abilities of collection professionals. This certification is issued by the International Association of Commercial Collectors (IACC), a non-profit organization dedicated to providing education and resources to collection professionals.

The IACC-CPP certification requires applicants to demonstrate their knowledge in areas such as legal compliance, accounts receivable management, dispute resolution, risk assessment, and ethical practices. The program also includes an online exam that tests applicants’ understanding of these topics.

In order to become certified, applicants must first complete an application form and submit it to the IACC along with a fee of $150 USD. Once accepted into the program, applicants will have access to an online learning portal where they can review course materials and take practice exams. After completing all course materials and passing the final exam with a score of 80% or higher, applicants will be awarded their IACC-CPP certification.

On average, it takes approximately three months from start to finish for candidates to complete the IACC-CPP certification process. Candidates should plan on spending at least 10 hours per week studying course materials in order to pass the final exam.

Do You Really Need a Collections Specialist Certificate?

The short answer is no. A collections specialist certificate isn't a requirement for becoming a collections specialist. However, if you're looking to specialize in the field and gain an edge over other job applicants, then it may be beneficial to get one.

A collections specialist certificate can provide you with a comprehensive understanding of the laws and regulations that govern debt collection practices, as well as teach you important skills such as negotiation techniques and communication strategies. This knowledge can help you become more effective at negotiating with debtors and collecting payments. Additionally, having a certificate can demonstrate your expertise and dedication to the profession, which will likely be appreciated by potential employers.

Ultimately, whether or not you decide to pursue a collections specialist certificate depends on your individual goals and situation. If you're interested in pursuing a career in the field or are looking to specialize in this area, then obtaining a certification can be an excellent way of demonstrating your commitment to the profession and increasing your chances of success.

Related: Collections Specialist Resume Examples

FAQs About Collections Specialist Certifications

1. What is a Collections Specialist Certification?

A Collections Specialist Certification is a credential that demonstrates an individual's knowledge and proficiency in the area of collections management. It is typically awarded by a professional organization or other institution after successful completion of a course of study, an exam, and/or other requirements.

2. How long does it take to become certified?

The time it takes to become certified will vary depending on the program and the requirements necessary for certification, but generally speaking, most programs require at least one year of study and/or experience in order to qualify for certification.

3. Are there any prerequisites for certification?

Yes, some programs may require applicants to have completed certain courses or have a certain amount of experience prior to applying for certification. It is important to research the specific program requirements before applying for certification.

4. What are the benefits of becoming certified?

Becoming certified as a Collections Specialist can provide many benefits including increased job opportunities, higher wages, greater job security, and recognition from employers and peers within the field.

5. Are there any continuing education requirements?

Yes, many certifying organizations require continuing education credits in order to maintain certification status. It is important to check with your certifying organization regarding their specific requirements for maintaining certification status.