ATLANTA, GA ? Three industry veterans have launched a new debt buying firm, Endeavor Financial Partners, LLC. Endeavor is led by Don Fitzgerald, former chief counsel for OSI Portfolio Services. Fitzgerald, with debt buying veterans Christopher Runci and Doug Handschumacher, formed Endeavor and opened for business in August 2003. ?Our goal is to build a firm that combines the flexibility and creativity of a small firm with the sophistication and financial resources of a big firm,? said CEO Fitzgerald. ?To that end we have already lined up substantial financial backing, which combined with our team?s industry experience, puts us in a good position to compete for any portfolio from any seller.?
Endeavor?s strategy is to concentrate on debt buying and then liquidate the portfolios through a network of outsourced collection agencies and attorneys. Outsourcing virtually all collections functions gives Endeavor the flexibility to tailor collection strategies to suit each portfolio, while maintaining its own focus on portfolio acquisition.
Anthony Marino, CEO of collection agency NCI, commented, ?These guys are well known in the industry, having bought debt at one time or another from most of the big creditors. They?ve gained immediate respect and are viewed as a credible buyer even among the more conservative sellers.?
?It?s been a busy six months, but we?re delighted at our progress,? said Fitzgerald. ?We?ve got the core team, we?ve got the servicing network in place, and we?ve got the money to quickly execute on any transaction, from the very large to the very unusual. In six short months, we are out there competing with the best.?
About Endeavor
Endeavor Financial Partners, LLC (www.EndFin.com) is an emerging debt buying firm focused on the purchase, liquidation, and management of distressed receivables. The company?s three principals are industry veterans who have obtained significant financial backing. Endeavor outsources virtually all collections functions to its network of agencies and collection attorneys, giving it the flexibility to tailor collection strategies to suit each portfolio without diluting its own focus on portfolio acquisition. The company is privately-held with offices outside Atlanta and in Rhode Island. For more information, contact Chris Runci, EVP Business Development, at 401.619.1360 or chrisrunci@EndFin.com.
