CreditWatch Services, Ltd. Aquired Stop-Loss, Inc.

 CreditWatch Services, Ltd., located in Ft. Worth, Texas, has announced that on September 1, 2009 it acquired the customer contracts, servicing and marketing rights of Stop-Loss, Inc., a Louisiana based accounts receivable management firm. Terms of the deal were not disclosed.

Stop-Loss, Inc. founded in 1977 is a full service accounts receivable management firm specializing in the public utility and telecommunication industry. Founded in the fall of 1977 by Ken McMichael, Stop-Loss’ corporate office has been located in Monroe, Louisiana, since 1985.  The mission of Stop-Loss, Inc. has always been to provide an economical and customer relationship based collection service to their public utility clients.  

Mildred McMichael, CEO and Bruce McMichael, President, of Stop-Loss, Inc. issued the following joint statement, “We are very excited to finally realize the dream of Ken McMichael, husband and father, who passed away in 2006.  Ken always wanted to merge companies with Joseph Tempesta, but the time was never right until now.  We are looking forward to helping CreditWatch grow and we are also very excited about the different services that we are now going to be able to provide our clients.”

Scott Brandt, VP of Operations for CreditWatch, stated, “With the acquisition of Stop-Loss Inc., this will solidify the position of CreditWatch Services Ltd in the telecom and utility sector of the ARM Industry. Based on their many years of collection experience, Stop Loss will add further diversification to our overall market strategy and their management team will add over 100 years combined experience in the public utility and telecom markets”.  James English, Chief Financial Officer, concurred, “Stop-Loss, Inc. will be valuable in continuing to build our brand while continuing to diversify CreditWatch’s position in the industry.”

Joseph F. Tempesta President of CreditWatch services added. Our strategy for effectively growing CreditWatch Services Ltd. is to work closely with each division president of the acquired companies and protect their regional brand while offering expanded services to their customer base.” In a very difficult market, it makes sense to offer small to medium sized CEO run companies, the opportunity to grow their business by introducing additional services and technologies to their regional client portfolios. We are very excited to bring Millie and Bruce McMichael and Stop Loss into the CreditWatch Services Ltd. family of companies.

Founded in 1990 CreditWatch Services, Ltd. is a national provider of ARM and CRM outsourcing and currently has offices in Ft. Worth Texas, Las Cruces, NM, Monroe, LA and Albuquerque, NM.  
CreditWatch Services Ltd’s home office is strategically located at the south entrance of DFW airport. With the acquisition of StopLoss, the company anticipates expanding into an additional 10,000 sq ft at their current location in the spring 2010.