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March 27, 2015 6:01 PM ET

Commercial Services and Supplies

Company Overview of Enterprise Recovery Systems, Inc.

Company Overview

Enterprise Recovery Systems, Inc. provides resolution and recovery of delinquent accounts, and collection services for colleges and universities, guarantee agencies, private lenders, and the Department of Education. Its programs include base collections of student account receivables, tuition fees, federal student and institutional loans, and guarantor and lender services. The company also provides higher education accounts receivable management services, including traditional delinquent receivable and loan account collections, first party call center services, skip tracing, a default aversion program, and more. In addition, it offers accounts receivable recovery, text messaging, virtual age...

2000 York Road

Suite 114

Oak Brook, IL 60523

United States

Founded in 1988

Phone:

800-377-1904

Fax:

630-574-7788

Key Executives for Enterprise Recovery Systems, Inc.

Chief Information Officer
Vice President of Sales & Customer Service
Compensation as of Fiscal Year 2014.

Enterprise Recovery Systems, 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.

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