Certification for Recovery Industry:
The CCRS Designation

The recovery industry has now developed a nationwide Certification Program. The goal is to provide information and education within the recovery industry, evaluate individual performance and recognize higher levels of achievements by professional members. To design and administer the certifying rules and standards, a Society of Certified Collateral Recovery Specialists was formed.

The Society consisted of five past presidents and two currently elected officers from nationally recognized repossession organizations. They held their first meeting April 24, 1992 in New York.

To the credit grantor and collection specialist, the designation CCRS (Certified Collateral Recovery Specialist) will distinguish that person as one who has attained a level of excellence in the collateral recovery industry and has met the following criteria:

  1. Must have been in the collateral recovery business at least three years as the sole owner or as a partner who holds at least as much interest in the recovery business as any other partner.
  2. Must be a member of a professional recovery association or organization (such as ARA, CALR, FALR, NFA, or TFA).
  3. Must have a license if applicable in their state.
  4. Must have supplied four current references (at least two local) from financial institutions for whom they do recovery work.
  5. Acceptable Bond of $1,000,000. Recognized repossession assoc. bonds acceptable.
  6. If the applicant has an unresolved grievance with an association, a letter of explanation is required.
  7. Must have completed a continuing educational requirement of attending an authorized seminar on collateral recovery or completing a course and passing a test on collateral recovery.

Each member listed in the NFA directory is a professional Collateral Recovery Specialist who has been thoroughly investigated and has met the very demanding standards of National Finance Adjusters, Inc. Those listed with "CCRS" by their name are those who have also applied and earned the CCRS designation by the Society of Certified Collateral Recovery Specialists.