Asset Acceptance Reveals Costs

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David A. Szwak
Posts: 1974
Joined: Thu Jul 13, 2006 11:19 pm

Asset Acceptance Reveals Costs

Post by David A. Szwak »

Asset Acceptance Reveals Costs . . .

Collection Agency Asset Acceptance Reveals How Much They're Paying For Charged-Off Debts
Published March 1st, 2007 in Debt Buyers. Tags: No Tags. .. .entry-meta -->
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Collection agency and debt buyer Asset Acceptance Capital Corp. has said it will close two of its offices: one in Michigan and one in Maryland. This comes on the heels of their most recent earnings report.

The company increased their investments in purchased receivables by 33.9 percent for the full year 2006 from 2005 levels, and saw revenues increase 14.3 percent. But the interesting point is that during the fourth quarter of 2006, the Company invested a record $62.2 million to purchase charged-off consumer debt portfolios with a face value of $2.5 billion, which means that Asset Acceptance is buying debt at 2.46 cents on the dollar.
David Szwak
Chairman, Consumer Protection Section, Louisiana State Bar Association
Bodenheimer, Jones & Szwak
509 Market Street, 7th Floor
Mid South Tower
Shreveport, Louisiana 71101
Fax 318-221-6555
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