Jamaican Collection Agency Seeks $70 million Debt Purchase

By Horace Hines, The Jamaica Observer

Professional Axxess, an outbound tele-collection agency that operates from the Montego Bay Free Trade Zone is holding talks with a US-based lender, to purchase US$70 million in debt – and to use the MoBay company for the collection.

Directors of Axxess, Phillip and Glenda Spears say that once the deal is secured, they will be able to significantly increase the number of Jamaicans now employed, from 30.

The tele-collection agency began operating in Montego Bay last year August, but had its official opening on Friday.

“I am going back to the States on the 18th of April where I am doing due diligence on a portfolio of US$70 million, and we are looking at purchasing the debt by the end of the month, which is going to bring us a lot of business to expand with,” Phillip Spears told the Business Observer.

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