RHK Recovery Group continues to receive endorsement by the Commercial Law League of America as a Commercial Collection Agency that complies with all the requirements necessary to receive a Certificate of Compliance. Having this CLLA certification is a special additional voluntary process that recognizes RHK Recovery Group as industry expert commercial debt collection agency.
What’s the CLLA?
Since 1975, CLLA’s Commercial Collection Agency Certification program demonstrates that certified agencies adhere to relevant regulations in the collection of commercial debt, use generally accepted accounting practices, and adhere to standards to protect and safeguard their clients’ funds. This program is endorsed by the International Association of Commercial Collectors (IACC). The IACC is the world’s largest and most respected association of commercial collection professionals and has been setting and enforcing high standards of conduct since 1970. Receiving the CLLA’s endorsement as a certified and upstanding business sounds great and fancy but what’s more important is the checks and verifications behind this certification for our commercial collection agency.
What are the specific criteria for CLLA Certificate of Compliance?
Receiving this certification means an independent accountant was tasked by Commercial Law League of America to perform agreed-upon procedures and conduct a thorough review in accordance with verification standards established by the AICPA. That review includes the following:
- A review by an independent accountant of RHK’s bank activity and statements for three months matched the reconciliation of the trust accounts, which comprises more than 50% of RHK Recovery’s trust activity. This means our financial recording is accurate.
- As of a specific date, the reconciled balance in RHK Recovery’s trust accounts sufficiently exceeded the total trust liability, showing strong fiscal standing. This means our financial standing is strong and in the positive.
- The independent accountant audited three random RHK Recovery Group debtor payments, and six requisite documents and back-up for each, to confirm that RHK Recovery Groups reporting was thorough and accurate to what was represented. This means our record keeping is detailed and thorough.
What does this all mean?
Essentially, having a CLLA Certification means that our clients have peace of mind. They don’t have to worry about their money because we are bonded. Clients can rest assured that when we collect from independent parties, they will always get paid and we will always be compliant with the code of ethics in how we conduct our business.
Moreover, RHK Recovery Group has strict internal process and procedures as it relates to our 21-day remittance policy. We have checks going out to clients every Friday and we can also process remittance by ACH or any other way that works for them. In addition, we track all payments and make sure everything is posted properly.
Here are RHK Recovery Group, we realize that when people come to us, they have reached a frustrating point in their business accounts receivable process. Every business wants and expects their own customers to just pay their bills on time but that’s not always the going to be the case.
When it comes to commercial debt collection, companies certainly have many choices and when someone chooses to work with a CLLA Certified Company they are making a wise choice. When RHK Recovery Group clients determine they need professional help recouping funds owed to them, we want to do everything we possibly can to collect as much of the total amount owed. We take it seriously and personally, and that is why our clients continue to come back to us to solve their accounts receivable challenges for them.
If you have any questions or want to contact us about your specific scenario, submit a contact form by clicking here. Or email us at [email protected]