MCLEAN, Va. Feb. 24, 2011 /PRNewswire/ -- DBA International, the trade association and voice for the debt buying industry, announced today that it has formally adopted a Statement of Principles and Guidelines for the Sale and Purchase of Consumer Debt, which can be viewed at DBA International's website: www.dbainternational.org .
Developed by a work group of representatives from DBA International and ACA International, two leading trade associations for the accounts receivables management industry, this document outlines a set of core principles that represent the highest level of business, legal and professional conduct.
"We strongly encourage each of our members to adopt these guidelines and apply them daily in the management of their businesses," said Michael Bendickson, President of DBA International. "DBA worked hand in hand with ACA International's Asset Buyer Division to develop these standards. Our organizations' collaboration demonstrates how important it is for our industry to share a common goal for unified business practices."
About DBA International
DBA International is the trade association and voice for the debt buying industry. DBA sets ethical and business conduct standards for the industry. Debt buyers are financial institutions that purchase uncollected accounts from originating lenders for less than the face value of the debt. Debt buyers are therefore able to settle debts with consumers at deep discounts. This allows a consumer to improve their credit record and, by doing so, to increase their access to, and reduce their cost of credit. www.dbainternational.org
SOURCE DBA International