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ED Announces Debt Collection Contract Winners in Unrestricted Category
January 9, 2009
The Department of Education announced their new debt collection contractors after much delay. ED only revealed the businesses in the unrestricted category, but the list revealed an expansion of the contract over the current stable of collection agencies.
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Only one of the 2004 unrestricted companies was not awarded a spot on the 2008 contract: Toronto-based CollectCorp, Inc.
The contract added two new contractors: Westchester, Ill.-based Enterprise Recovery Systems and Salem, N.H.-based Windham Professionals.
There was no word on when the contractors on the small business set aside would be announced or how many companies in that category would be named.
The collection agencies named to the contract on Thursday:
- Account Control Technology Inc.
- Allied Interstate Inc./IQOR
- Collecto, Inc.
- Continental Service Group, Inc.
- Diversified Collection Services, Inc.
- Enterprise Recovery Systems
- Financial Asset Management Systems, Inc.
- FMS Investment Corp
- GC Services Limited Partnership
- NCO Financial Systems, Inc.
- Pioneer Credit Recovery, Inc.
- Premiere Credit of North America, LLC
- Progressive Financial Services, Inc.
- The CBE Group, Inc.
- Van Ru Credit Corporation
- West Asset Management, Inc.
- Windham Professionals, Inc.
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Comments
Comment from Anonymous on January 9, 2009 at 10:57PM EST
Hello, its a contract!!
Comment from Anonymous on January 10, 2009 at 7:35PM EST
That's great news.
Comment from Anonymous on January 14, 2009 at 7:52PM EST
"How is it possible that agencies that collected $200 - $300 MILLION dollars less than other competing agencies over the duration of the 4-year contract are awarded with renewal?"
Better lobbyists or better political donations.
Comment from Anonymous on January 19, 2009 at 12:37PM EST
This is all Politics
Comment from Anonymous on January 19, 2009 at 8:20PM EST
Because they are still not reaching all of the inventory available to Dept of Ed. Why would they decrease the number of the collection agencies on the contract? Many of the agencies that are collecting $200-$300 million less than competing agencies are collecting more efficiently than the larger agencies. Meaning it takes less accounts worked to get a payment and more accounts serviced per total accounts.