IEI Financial Purchases $18.8 million Utility-Based Debt Portfolio

IEI Financial Services, LLC today announced the recent purchase of an $18.8 million utility-based portfolio from a major Massachusetts-based, investor-owned electric and gas utility company under its FastCap process.

FastCap is a professional process branded by IEI to purchase outstanding debt portfolios. IEI, through its FastCap process, is positioning itself to quickly become a leader in acquiring utility portfolios in market segments that have seen limited competition. FastCap provides quick, uncomplicated financial settlements on outstanding debt to the utility industry.

?The acquisition of this portfolio is an outstanding addition to our already successful debt purchasing model,? said Dana E. Bausback, Director, Portfolio Strategy & Compliance, IEI Financial Services, LLC. ?The partnership established between IEI and the utility reflects our commitment to a longer term relationship beyond the transactional nature of debt purchasing.?

IEI has acquired multiple debt portfolios in the utility space demonstrating a continued superior level of confidence, purchase price, and customer interaction after the sale.

Founded in 1998, IEI Financial Services LLC supports clients in the gas, electric, phone and cable industries and specializes in contact management, accounts receivable management and purchasing of debt portfolios.