Case Study 1
As we have always done, the purchased accounts that were being collected by the DCA’s remained with them as we believe that there is little benefit to anybody, especially the customer, to have to amend an existing payment arrangement.
The purchase transactions benefitted all parties, the lender completed the sales at their agreed terms, we increased our portfolio holdings, the DCA’s retained the contingency business on the same terms and there was minimal disruption for the paying customers.
Case Study 2
During the second year of the arrangement “FINCO A” was acquired by another Financial Institution, “FINCO B”. Upon the request of “FINCO B”, TBI Financial Services agreed to terminate the Contract without enforcing penalty clauses for early termination. Our reasoning behind our decision included the desire to develop a new relationship with “FINCO B”. We have since completed a number of spot purchases from “FINCO B” and continue to have an excellent working relationship with them.