Asset Acquisition Group, LLC Begins 2010 with $240MM Purchase

DENVER, CO. – Asset Acquisition Group, LLC (AAG) starts 2010 fervently, purchasing a $240MM portfolio from a major national bank. Setting a sharp pace to implement AAG’s amplified acquisition plan for 2010.

“We are excited to start this year with one of the single largest acquisitions in the company’s 18 year history. Since mid-2007 we reduced purchasing and adapted our business plan as we saw early indicators of the economic decline. Making us agile without the burden of the challenging portfolios from the last two years and able implement 2010 purchasing plans,” said Donna J. Meier, CEO & President of AAG.

Poised for a robust return to the debt marketplace, AAG’s exceptional proficiency with contract based consumer accounts is a distinct advantage for the Denver based company.  “We have been focusing on the niche and specialty markets for years, and shied away from traditional credit card type products,” said Rob Rosales, Director of Business Development for AAG. However, as a full service asset management and collection company, AAG has and will purchase bank card and private label portfolios opportunistically from originators with their auto, student loan and other consumer notes.

Adding to the 2010 enthusiasm, AAG contracted with Latitude Software last year to customize AAG’s new software platform. Implementation for Latitude’s full suite of software for collections, outsourcing and acquisition management is slated for completion by the end of Q1. 

About Asset Acquisition Group:
Asset Acquisition Group, LLC (“AAG”) is a privately held company, established in 1992 for the purpose of purchasing and liquidating charged-off consumer receivables. We entered the debt-buying industry in its infancy and have developed the expertise that enables us to adapt our processes and technology to meet varying market conditions.

The assets are managed by a team of dedicated professionals that have over 50 years of industry related experience and serviced by a staff of skilled and specially trained collection representatives. Headquartered in Denver, Colorado, AAG manages its purchased inventory through in-house collections, as well as outsourcing and its national legal network. Periodically AAG also offers portfolio segments for sale. AAG looks for partners with similar expertise to expand in all areas of these specialty products.

AAG is a proud member of DBA International, ACA International, National Association of Retail Collection Attorneys, and the Better Business Bureau.

Since 1992… Our Reputation Is As Important To Us As It Is To You.

For more information about Asset Acquisition Group, please contact Rob Rosales at 303.694.0031 or via email at rrosales@assetacquisition.com.

About Latitude Software
Founded in 1997, Latitude Software is a leading provider of collection software to collection agencies, collection law firms, debt buyers and credit grantors. More than 200 companies use the Latitude suite of products and services, including its ASP-hosted solution.

More information can be found on the company’s Web site, www.debtsoftware.com.