Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


May 27, 2015 10:22 AM ET

Commercial Services and Supplies

Company Overview of Pioneer Credit Recovery, Inc.

Company Overview

Pioneer Credit Recovery, Inc. provides collection services on defaulted debt. Its services include non-tax government collections; revenue recovery for court clients, including collecting past due fines and fees, and court fines and fees; and tax amnesty programs. It recovers a range of debt for various levels of government ranging from federal agencies and cities to counties. The company was founded in 1980 and is based in Arcade, New York with additional offices in Florida, Indiana, and New Jersey. Pioneer Credit Recovery, Inc. operates as a subsidiary of Navient Corporation.

26 Edward Street

Arcade, NY 14009

United States

Founded in 1980

Phone:

585-492-1234

Fax:

585-492-3484

Key Executives for Pioneer Credit Recovery, Inc.

President
Chief Operating Officer
Chief Administrative Officer, Treasurer and Director
Compensation as of Fiscal Year 2014.

Pioneer Credit Recovery, Inc. Key Developments

U.S. Department of Education Terminates Contract with Five Private Collection Agencies

The U.S. Department of Education is winding down its contracts with five private collection agencies, including Navient's Pioneer Credit Recovery, for allegedly providing inaccurate information to borrowers about a loan rehabilitation program. The other agencies are Coast Professional, Enterprise Recovery Systems, National Recoveries and West Asset Management. The loan rehabilitation program is an option that can create benefits to defaulted borrowers after they have made nine on-time payments in a period of 10 months. Agents of the companies allegedly gave borrowers misleading information about the benefits to the borrowers' credit reports and about the waiver of certain collection fees. The department's Federal Student Aid office performed a review of 22 private collection agencies. The department also said that it will reassign accounts held by the five agencies which are not already in repayment to other agencies. The department will increase its monitoring and issue enhanced guidance to all remaining private collection agencies.

Pioneer Credit Recovery to Cut Jobs

About 400 jobs are expected to be lost at Pioneer Credit Recovery in Wyoming County after the company lost a major federal contract to collect on overdue student loans because of protocol violations in the way it carried out its collections work and controversy over whether its parent company overcharged some borrowers. The loss of the contract from the Department of Education is expected to result in a 40% cut in the company's nearly 1,000-person work force. The timing of the impending job cuts is uncertain.

Pioneer Credit Recovery, Inc. Wins Contract

New Jersey Department of Treasury, Division of Purchase and Property has awarded Pioneer Credit Recovery Inc. a contract (Index No. T-1426) for the administration services of deficient and delinquent tax accounts to 1 vendor. Contract period is from July 1, 2012 to June 30, 2017. Contract number is 81810.

Similar Private Companies By Industry

Company Name Region
Neches Industrial Park, Inc. United States
Kaiser-Hill Company, LLC United States
DeAngelo Brothers, Inc. United States
National Alarm Computer Center, Inc. United States
The Tambling Corporation United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Pioneer Credit Recovery, Inc., please visit www.pioneercreditrecovery.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.