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April 27, 2015 9:38 PM ET

Consumer Finance

Company Overview of Asset Acceptance Capital Corp.

Company Overview

Asset Acceptance Capital Corp. engages in the purchase and collection of defaulted and charged-off accounts receivable portfolios from consumer credit originators in the United States. The consumer credit originators primarily include credit card issuers, consumer finance companies, and telecommunications and other utility providers, as well as resellers and other holders of consumer debt. The company periodically sells receivables from these portfolios to unaffiliated parties. It also finances the sales of consumer product retailers; and licenses a collection software application. Asset Acceptance Capital Corp. was founded in 1962 and is headquartered in Warren, Michigan. As of June 13, 201...

28405 Van Dyke Avenue

Warren, MI 48093

United States

Founded in 1962

882 Employees

Phone:

586-939-9600

Key Executives for Asset Acceptance Capital Corp.

Chief Executive Officer, President and Director
Age: 52
Chief Information Officer and Vice President
Age: 42
Chief Compliance Officer, Vice President, General Counsel and Secretary
Age: 63
Chief Acquisitions Officer and Senior Vice President
Age: 41
Vice President of Human Resources & Corporate Communications
Age: 49
Compensation as of Fiscal Year 2014.

Asset Acceptance Capital Corp. Key Developments

Asset Acceptance Capital Corp. Plans to Lay Off 125 Employees

Asset Acceptance Capital Corp. announced that it will lay off 125 employees this spring. Encore Capital Group, disclosed the layoff plans this week in a required filing with the state. The layoffs are scheduled to happen by May 1, 2015. Encore said the job cuts are the result of a call center consolidation and the affected workers had the opportunity to relocate to other call centers in Phoenix or St. Cloud, Minn.

Asset Acceptance Capital Corp. to Eliminate 110 Jobs

Asset Acceptance Capital Corp., acquired in June by rival Encore Capital Group Inc. for $200 million, will lay off 110 people to eliminate redundant jobs. The deal was first announced in March. Asset Acceptance, based in Warren, Mich., informed the state's Workforce Development Agency it would cut 73 positions in Michigan, where it employs about 640 people. Another 37 positions will be eliminated in suburban Tampa, Fla., where it employs about 130. San Diego-based Encore said in a statement, attributed to Julie Reynolds, director of corporate communications, that the company has been working since the acquisition to combine the support functions of the two organizations and appropriately scale the business to be as efficient and effective as possible.

Asset Acceptance LLC to Lay Off 37 Employees in Riverview Location, Effective October 1, 2013

Asset Acceptance LLC has announced it will lay off 37 employees in its Riverview location. The Riverview office currently has 120 employees and will reduce that number effective October 1, 2013. There are no plans to close the Riverview location at 2840 South Falkenburg Road. In a WARN letter to the Florida Department of Economic Opportunity, the company said the following job titles and number of employees are affected: Account representatives - 27, Legal collections team lead - 3, Manager-Field HR - 1, Manager-Legal collections - 1, Supervisor-Legal collections - 5.

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