Telecom's Collection Arm Acquires Debt Collector and Debt Purchaser

by Patrick Lunsford,
CollectionIndustry.com

The recently-formed accounts receivable management arm of telecommunications provider IDT Corporation announced this week that it has acquired a collection agency and debt purchaser.

IDT Carmel said that it purchased Minnesota-based People First Recoveries and its debt purchasing unit Big Ten Capital Management in June of this year. In addition, IDT Carmel has retained the owners of the businesses, Bob Johnson and Chris Winkler, as Executive Vice Presidents in charge of business development, debt purchasing and contingency collections.

IDT Carmel was launched about a year ago to serve as the collection unit for their parent company?s telecom business. With a call center in Israel, the company desired to expand to the U.S. market. The acquisitions of People First and Big Ten give the company its first foothold in the U.S. collections market.

IDT Carmel aspires to become an industry leader in both debt buying, and servicing of that debt, and also contingency collections.

Both Johnson and Winkler were collection industry veterans before starting their companies two years ago.