6.15.2007 / Michael Flock
Debt Resolve To Prove That Technology Will Differentiate

Continuing its strategy of using technology to differentiate collection services, Debt Resolve took the bold step of proposing to acquire Creditors Interchange for $60 million in cash and $4 million in common stock.

In a move that surprised many industry observers, Debt Resolve will acquire Creditors Interchange, to accelerate its efforts to bring new technologies to the recovery process, both for creditors and collection agencies. It was a surprise because Debt Resolve, a company with new debt settlement technology, had acquired First Performance last year. At the time they said First Performance was a viable collection agency which would also be a laboratory and reference for their virtual collection solutions.

Now, the Credit Interchange deal, a $58 m company, much larger than First Performance, signifies something much more. According to Rich Rosa, President, “We are impatient with the adoption of Debt Resolve technology. With  the acquisition of Creditors Interchange, we will speed up our plans to promote technology solutions that will transform current collection processes.” 

The combination of both companies now provides the full spectrum of third party services, from primes through fourth placements. In addition, with banks and credit card companies demanding more stringent technology and security, Rosa believes both companies will  have a significant lead over their middle market competitors, who typically are falling behind in this area.