FOR IMMEDIATE RELEASE CONTACT: Ken Shilson
December 7, 2017 832-767-4759
Receivables Management Association Launches Program to Match Buy Here, Pay Here Dealers with Certified Debt Buyers
December 7, 2017 (Sacramento, CA) – Receivables Management Association International (RMA) has launched a program to better serve buy here, pay here dealers seeking liquidity. Auto dealers often explore remedies for distressed or defaulted accounts; selling accounts to one or more debt buyers has proven to be a preferred option for many dealers. In the past, RMA has provided sellers a list of its Certified debt buyers, and while this option is still available, it may be less efficient for sellers.
RMA has launched a new program in order to streamline this process between originating creditors and debt buyers, saving potential sellers valuable time and resources. Now, sellers only need to fill out a simple form and RMA can match them specifically with debt buyers who fit the sellers’ parameters, including options such as forward flow relationships, geographical restrictions, and age of receivables (sellers may also find buyers who purchase performing accounts). All information is held under strict confidentiality and participation in the program is completely optional.
“The National Alliance of Buy Here, Pay Here Dealers is thrilled to participate in this program,” said Ken Shilson, President of NABD. “With increasing restrictions on credit, many dealers are looking for ways to mitigate losses, as well as find new sources for capital, and this program can help them do just that.”
Certified debt buyers undergo regular third-party audits to ensure professional practices, such as proper documentation and accuracy of accounts. “We understand that auto dealers want to work with debt buyers who are fully compliant,” said Jan Stieger, Executive Director of RMA. “Our Certified debt buyers adhere to strict compliance standards that meet, and often exceed, state and federal laws and regulations. NABD’s members can feel confident that they are working with professional businesses.”
Sellers interested in participating may receive more information by visiting RMA’s website or emailing RMA at firstname.lastname@example.org.
About Receivables Management Association International
Receivables Management Association International (RMA) is the nonprofit trade association that represents more than 550 companies that purchase or support the purchase of performing and nonperforming receivables on the secondary market. The Receivables Management Certification Program and Code of Ethics set the global standard within the receivables industry due to its rigorous
uniform industry standards of best practice which focus on the protection of the consumer. RMA provides its members with extensive networking, educational, and business development opportunities in asset classes that span numerous industries. The association continually sets the standard in the receivables management industry through its highly effective grassroots advocacy, conferences, committees, task forces, publications, webinars, teleconferences, and breaking news alerts. Founded in 1997 as the Debt Buyers Association, RMA is headquartered in Sacramento, California.
The National Alliance of Buy Here, Pay Here Dealers (NABD) is an association focusing exclusively on the needs of the BHPH industry and is dedicated to improving the quality of BHPH dealers through education, ongoing training, and by promoting the interests of self-finance dealers nationwide