Garnet Capital Advisors announced that, in addition to its many existing certifications, it has earned the Certified Receivables Vendor (CRV) designation for Broker Services from the Receivables Management Association International (RMAI).

RMAI’s Receivables Management Certification Program (RMCP) offers certifications for debt buying companies, collection agencies, collection law firms and the vendors that provide services to them. RMCP’s certifications are intentionally designed to cover the full life-cycle of an account receivable to ensure uniform rigorous consumer protection standards follow a consumer account from origination through final disposition.

“Earning the Certified Receivables Vendor designation is a significant achievement,” said RMAI Board President Marian Sangalang. “Garnet has demonstrated its commitment to adhering to rigorous consumer protection and professional standards that not only meet but often exceed state and federal regulatory requirements. Certified businesses such as Garnet set the global standard for the receivables management industry.”

“Garnet is pleased to have earned this important certification,” said Louis DiPalma, Managing Partner at Garnet Capital. “This continues Garnet’s commitment to be the industry leader in secure, compliant and well documented debt sales.”

The CRV broker designation is granted to businesses who comply with rigorous standards concerning compliance, background checks, insurance, data security, vendor management, broker agreements, transactional due diligence, and establishing buyer and seller prerequisites. The expansion of the RMCP to include brokers allows RMAI to provide a “single compliance footprint” to the receivables management industry by touching on every stage of the debt lifecycle.

Garnet Capital Advisors, LLC is a 15-year-old New York-based financial services firm specializing in managing loan-portfolio sales for banks, credit unions, finance companies and other credit grantors.