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Asset Acceptance Capital tries to help creditors accept the things they cannot change and to have the courage to pay off the debt they can. The company buys portfolios of written-off consumer debt (credit cards, consumer loans, utilities) at a deep discount, then attempts to collect on them. About half of the value of its portfolio is made up of Visa, MasterCard, and Discover card receivables. Asset Acceptance Capital focuses on debt in the primary, secondary, and tertiary markets, which means between one and three collection agencies have already had a go at them; these portfolios are often the cheapest to acquire but are the hardest to collect on. Tertiary accounts make up about half of its portfolio.
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| | | Contact Information | |
Address: |
28405 Van Dyke Ave.
Warren, MI 48093
| | Phone: | 586-939-9600 | | Fax: | 586-446-7837 |
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| Financial
Highlights | | Fiscal Year End: | December | | Revenue (2008): | 234.20 M | | Revenue Growth (1 yr): | (-5.60%) | | Employees (2008): | 1,651 | | Employee Growth (1 yr): | 0.70% |
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Key People
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Chairman:
Nathaniel F. (Brad) Bradley IV
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President, CEO, and Director:
Rion B. Needs
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VP Legal Collections and Business Transformation:
Darin B. Herring
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