Stellar Recovery Announces Launch of Debt Buying Business

John Schanck and Bob Peterson from Stellar Recovery, Inc announced today the launching of S & P Asset, LLC a debt buying arm of Stellar.

“We are extremely excited,” said Peterson. “Our team has worked very hard to establish our financial partners which will capitalize S & P Asset to establish 12 month forward flows thru 2010.”

“Our main focus at S & P Asset is to establish a long term working relationships with issuers and debt buyer resellers of credit card, installment loans and auto deficiencies” said Schanck. “We at S & P Asset will concentrate on fresh charge off and 90 day one agency recalls as its core purchases.”

S & P Asset, LLC has entered into forward flows thru the end of 2009 and is negotiating 12 month forward flows for 2010. “We anticipate spending 1.5 million dollars for the remaining of 2009” said Schanck. “Our financial partners have committed 4.5 million dollars for Q1 and Q2 of 2010 and an additional 6 million for the second half of 2010.”

Stellar Recovery, Inc. and S&P Asset, LLC is an Accounts Receivable Management Company (ARM) with corporate headquarters located in Kalispell Montana.  Stellar Recovery also has Multiple Collection Centers in Kalispell and Denver Colorado.