Center for Financial Certifications Announces Launch of Certified Consumer Receivables Counselor Program

PORTLAND, Maine – The Center for Financial Certifications®, a division of the Institute for Financial Literacy™, today announced the launch of a new certification program for the collections industry designed to increase the successful collection of unpaid receivables while helping consumers. The Certified Consumer Receivables Counselor™ (CCRC™) blends regulatory compliance with training in financial literacy education, allowing collections professionals to educate consumers about money management, credit and debt management as a repayment schedule is developed.

Historically, many debt collection companies have used aggressive techniques to collect delinquent accounts. As the pace of collection activity has increased during the current economic crisis, so has the pace of hiring within the collections industry. This increased operational tempo and flood of new personnel has resulted in escalating confrontations with consumers and an increased number of complaints filed with regulatory agencies.

“The current economic situation is changing how collection agencies do business,” according to Lori Pollack, Director of Certifications at the Center for Financial Certifications. “Agencies are looking for new methods that recognize the financial realities faced by consumers and, to the extent possible, preserve consumers’ long term relationships with their creditors. They want to work more collaboratively with consumers and improve their compliance with regulatory requirements at the same time they improve their collection rates.”

“The vast majority of consumers want to pay off their debts,” according to Leslie Linfield, Executive Director at the Institute for Financial Literacy, which administers the Center for Financial Certifications. “Including financial literacy education turns debt collection activity on its head because the collector and the consumer can begin to work together to find a solution, rather than fight each other. We are excited to see our Center for Financial Certifications creating new opportunities for the delivery of financial literacy education in a non-traditional context.”

About the Center for Financial Certifications

Established as an independent division of the Institute for Financial Literacy in 2006, the mission of the Center for Financial Certifications is to advance the professionalism and effectiveness of education and counseling within the field of financial literacy. The Certified Consumer Receivables Counselor (CCRC) is the fifth professional certification program to be offered by the Center, which also provides training for the credit counseling, debt settlement and housing counseling industries. For more information about the Center for Financial Certifications, visit its website at www.FinCert.org or call 207-221-3615.

About The Institute for Financial Literacy
Headquartered in Portland, ME, the Institute for Financial Literacy is a non-profit organization whose mission is to make effective financial literacy education available to all American adults. The Institute accomplishes its mission by developing financial literacy education programs, partnering with non-profit, educational and governmental organizations to integrate these programs into their existing services, and publishing the National Standards in Adult Financial Literacy Education.  For more information at the Institute visit its website at http://www.financiallit.org or call them at 1-866-662-4932.