creditgroup.com Inc., a leading provider of credit and financial services announced Wednesday that has acquired Asset Retrieval and Acquisition Fund, LLC of San Diego.
The acquisition gives creditgroup.com, Inc. a portfolio of tertiary and older accounts with a face value of approximately $ 27.5 million. CRCO will stratify the portfolio and vend those portions that do not meet it’s corporate mandate. Dr. Barry Lotz, chairman and chief executive officer stated, “Our motivation is to acquire companies that exhibit the ability to grow rapidly when financed and managed appropriately. ARAF will contribute significantly to our consumer loans, consumer credit card and judgement collection businesses. Our acquisition of and financial participation in ARAF will enable ARAF to grow significantly and add to the overall success of creditgroup.com Inc.”
About creditgroup.com Inc.
creditgroup.com Inc. was founded in 1997 and became public in 1998. creditgroup.com Inc. is headquartered out of San Diego and has another office in Vancouver, British Columbia, Canada. creditgroup.com Inc. acquires, manages and collects delinquent consumer receivables utilizing an information-driven strategy. The Company uses proprietary technology to acquire receivables primarily consisting of charged-off MasterCard(R), Visa(R), and private label credit card accounts issued by major banks and merchants. creditgroup.com Inc. is a socially responsible corporation emphasizing the consumer’s ability to regain their credit standing in the community. creditgroup.com maintains a solution based business philosophy that benefits consumer, lending institutions and ultimately investors. Their Internet address is [www.creditgroup.com].