Based in Illinois, Asset Recovery Associates is a collection and debt-buying agency. Affiliated with Debt Buyers Association International, Asset Recovery Associates helps lenders recover part or all of their outstanding loans.
Recent surveys indicate that the credit card debt and delinquency rates are increasing. Despite the fact that the economy may be improving, the national trend toward increasing consumer debt means that businesses could face difficulty getting paid back money owed to them.
Debt buyers purchase a company’s debt for a percentage of the face value. The debt buyer then pursues the borrower to recover the money owed on the debt. This arrangement is beneficial to the company because it is able to recoup a portion of its debt. It is similarly beneficial to the debt buyer because if the debtor can be successfully located, there is a chance that the entire value of the debt can be recovered. A full recovery from the debtor ensures the debt buyer makes a profit on the transaction.