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Asset Acceptance Seeks Debt Rise In Defaulted Loans Helps Lift Revenue, EPS.(THE IBD 100)
Byline: NANCY GONDO
Most businesses strive to avoid delinquent loans. But Warren, Mich.-based Asset Acceptance Capital seeks them out.
It buys unpaid loans and credit accounts for rock-bottom prices, then works with debtors to set up a regular payment plan that often spans three to five years. The goal: to at least triple its investment.
Since its 1962 start, the firm has bought charged-off debt across a wide range of industries such as home equity, auto, medical, health clubs and student loans.
And rising U.S. debt over the past few years has yielded a larger pool of potential customers. Outstanding consumer credit swelled 24% to $2.14 trillion at the end of 2004, up from $1.73 trillion in 2000, Federal Reserve data show.
Asset Acceptance has more than 1,000 collectors working out of offices in eight states. It offers incentives to try to retain ...
- Trade Alert for Asset Acceptance Capital Corp.
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...News: Trade Alert for Asset Acceptance Capital Corp(C...25042007 Trade Alert for Asset Acceptance Capital Corp (NASDAQ:AACC) Asset Acceptance Capital Corp. engages...receivable portfolios from consumer credit originators in the...
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...15 /PRNewswire-FirstCall/ -- Asset Acceptance Capital Corp. announced today that...28, 2006. Reitzel had served as Asset Acceptance's CEO until June 2003, after which...organization that would eventually become Asset Acceptance Capital in 1962. Over the course...
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- Press release article from: PR Newswire June 18, 2009 700+ words
...June 18 /PRNewswire-FirstCall/ -- Asset Acceptance, LLC, a subsidiary of Asset Acceptance Capital Corp. , today announced that...job creation at its Warren facility. Asset Acceptance is a leading purchaser and collector...
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...28 /PRNewswire-FirstCall/ -- Asset Acceptance Capital Corp. , a leading purchaser...PARC team is anticipated to enhance Asset Acceptance's expertise in charged-off consumer...is a strategic and cultural fit for Asset Acceptance," said Brad Bradley, chairman...
- Asset Acceptance Capital Corp. Expands Board of Directors.
- Press release article from: PR Newswire November 4, 2004 700+ words
Asset Acceptance Capital Corp. today announced the...These two appointments increase Asset Acceptance's board to nine, five of whom...significant and complementary knowledge to Asset Acceptance's board. Both will join the audit...
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- Newspaper article from: Science Letter August 19, 2008 700+ words
Asset Acceptance Capital Corp. (NASDAQ:AACC...effective January 1, 2009 (see also Asset Acceptance Capital Corp.). "This is an important...step in the growth and evolution of Asset Acceptance and after almost three decades in...
- Asset Acceptance Recognized for Women in Leadership.
- Press release article from: PR Newswire October 11, 2007 700+ words
...11 /PRNewswire-FirstCall/ -- Asset Acceptance Capital Corp. today announced that...headquartered in Michigan. The index scores Asset Acceptance second overall among eight Michigan...Vice President- Human Resources, Asset Acceptance Capital Corp. "We are honored to...
- Asset Acceptance Capital Corp. Announces Results of the Annual Meeting of...
- Press release article from: PR Newswire May 21, 2004 700+ words
Asset Acceptance Capital Corp. today announced the...Nathaniel "Brad" Bradley IV, Asset Acceptance's president and CEO and Anthony...Ignaczak will serve as directors of Asset Acceptance Capital until the annual meeting...