$ 97,270,768
Charged-Off Visa®/MasterCards® & Auto Deficiency Balances
Nationwide
LoanTrade Inc. is pleased announce the sale of the above referenced
portfolio of charged-off Visa/MasterCard and Auto Deficiency accounts. The Seller is a
nationwide financial services company engaged in the acquisition of non-performing
consumer debt for the purpose of originating and servicing consumer credit cards.
The Seller is "consumer friendly" credit card marketing company. Qualified
debtors are offered an opportunity to settle their old debt, possibly at a discount, by
transferring it to a new, unsecured credit card. Marketing efforts stress the
utility of a credit card and the benefits of making timely payments. According to Tim
Kirkpatrick, LoanTrade's President, "This is a ‘soft’ sales approach that
does not affect the debtor like traditional third party collections that utilize
litigation or other hard-dollar collection techniques."
Kirkpatrick stated, "We encouraged the Seller to
consider trade offers in addition to the typical cash transaction. We are happy to
say that this new approach worked very well. The Seller will probably do it
again."
For More Information:
For more information regarding this offer or other opportunities to do business with our
client, please contact us:
LoanTrade Inc.
370 W. Camino Gardens Blvd. Suite 300
Boca Raton, FL 33432
Attn: Tim Kirkpatrick Phone: (561) 417-5002 Fax: (561) 417-5662