Department of Education Names Small Business Collection Contractors

Published on:
11 March 2009 at 02:37 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00010555-department-of-education-names-small-busin/

The U.S. Department of Education Tuesday announced the debt collection agencies that will occupy spots on the small business set aside of their student loan debt collection contract.

The following companies were selected from the Small Business Pool:

Coast Professional, Inc.
Collection Technology, Inc.
Delta Management Associates, Inc.
Immediate Credit Recovery, Inc.
National Recoveries, Inc.

The announcement brings the total number of accounts receivable management firms on the ED collection contract to 22. In January, ED announced that 17 companies had earned a spot on the unrestricted contract (“ED Announces Debt Collection Contract Winners in Unrestricted Category,” Jan. 9). There were a total of 17 collection agencies in both categories on the previous contract.

Last summer, ED approved 26 agencies to bid for a spot on the contract.

The new contractors on the debt collection contract were slated to be announced in September of last year. But the award was delayed several times in the fall (“ED Collection Contract Award Pushed Back Again,” Oct. 7, 2008).