ACA International is a
trade group
A trade association, also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific industry. An industry trade association partic ...
located in the
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...
representing
debt collection
Debt collection is the process of pursuing payments of debts owed by individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector. Most collection agencies operate as agents of ...
agencies, creditors,
debt buyer
Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The de ...
s,
collection attorneys, and debt collection industry service providers. Founded in 1939 as the American Collectors Association, the organization changed its name to ACA International in 2001; it is based in
Minneapolis, Minnesota and
Washington, D.C.
)
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ACA International members are located throughout the U.S. and more than 60 countries, representing more than 230,000 industry employees.
Industry overview
Collection agency services to their clients include billing, customer service, insurance verification, training, data clearinghouse services, and debt purchasing.
In 2010, third-party collection agencies recovered $54.8 billion on behalf of creditors, according to an economic impact survey conducted by Ernst & Young. These agencies help employ more than 300,000 employees with a payroll of $10 billion. In addition, third-party collection agencies contributed more than $85 million to charitable organizations and volunteered more than 650,000 hours in 2010.
As the trade association representing these businesses, ACA International lobbies for public policy favorable to its members, provides training and credentialing resources, establishes ethical standards and promotes the value of the industry to businesses, policymakers and consumers.
ACA code of conduct
ACA members agree to abide by a code of conduct. The code establishes standards of conduct for the industry. The code requires members to treat consumers with dignity and respect, and to appoint an officer with authority to handle consumer complaints. Under the code, ACA ceased the practice of investigating consumer complaints against members. Now, it instead forwards the complaint to the company with no follow-up or investigation.
References
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External links
ACA websiteEconomic Impact of the Third-Party Debt Collections IndustryFair Debt Collection Practices Act - United States Federal Trade CommissionConsumer Financial Protection Bureau
Collection agencies
Trade associations based in the United States