Kaulkin Ginsberg Launches Topline Valuation Group, LLC

Kaulkin Ginsberg Company, the leading provider of merger and acquisition (M&A) and strategic advisory services for the accounts receivable management (ARM) industry, is pleased to announce that it has bolstered its longstanding valuation practice by launching a new corporation, Topline Valuation Group, LLC, in partnership with Santos, Postal & Company, P.C., the premier certified public accounting firm in the Washington, D.C. metro region, servicing small and midsize companies.

Fueled by the powerful combination of Kaulkin Ginsberg and Santos, Postal’s vast resources and executive-level experience, Topline will provide ARM owners and executives with much-needed technical, financial, benchmarking, and operational services designed to improve decisions at the corporate and operational levels.  Services include fair market assessments, valuation due diligence,  benchmarking, business modeling, forecasting, dispute resolution and financial consulting.

The experienced team consists of certified valuation professionals, experienced businessmen, M&A professionals and CPAs with more than 125 years of combined experience servicing the needs of middle-market companies and their owners.

“For almost 25 years, Kaulkin Ginsberg has been recognized as the market leader in providing M&A, valuation and strategic advisory services to companies within the accounts receivable management and related industries,” Mike Ginsberg, President and CEO of Kaulkin Ginsberg, said. “By establishing  this new company with the Santos, Postal team, we are vastly expanding our valuation and benchmarking capabilities for ARM companies.  Santos, Postal is an exceptional firm to team up with in this endeavor.”

Charles B. Postal, CPA and Managing Partner of Santos, Postal, stated, “We have been growing various niche practices over the last few years so that we can better serve our clients. What better way to start and grow a valuation practice than to team up with the best in the ARM industry? This venture with Kaulkin Ginsberg allows us to immediately provide a much-needed service to our clients.”

Adam Freedenberg, CPA, CFE, CVA, will be leading the practice.  Adam’s experience as a certified valuation analyst, in addition to the many valuation reports he has prepared for ARM entities, business owners seeking value prior to succession, divorce attorneys needing to know asset values to ensure fairness, real estate firms and other businesses, will provide Topline’s clients with the expertise, integrity and trust needed when engaging a firm for a valuation.

About Kaulkin Ginsberg Company      

Founded in 1989, Kaulkin Ginsberg has provided value-added strategic advisory services tailored specifically to the accounts receivable management (ARM) industry and related outsourced business services (OBS) companies. The firm’s client-centric approach covers almost every stage of a company’s lifecycle. For more about Kaulkin Ginsberg, please visit www.kaulkin.com.

About Santos, Postal & Company, P.C.

Santos, Postal & Company, P.C., founded in 1971, is one of the top-rated certified public accounting firms in the greater Washington, D.C. Metropolitan Area.  The firm has received numerous accolades including, but not limited to, Accounting Today magazines’ prestigious “Top 100 Best Firms to Work For” award in 2011, 2012, 2013 and 2014; and since 2009, has been ranked as one of the “Top 50 accounting firms” in the Washington, D.C., area.  Santos, Postal provides a wide range of services, such as tax planning and preparation, general accounting, audit and attestation, estate and gift, business consulting, fraud and forensics, elder care financial management, and outsourced CFO services.  The firm is their clients’ trusted adviser.  They solve problems. For more information about Santos, Postal and Company, P.C, please visit www.SantosPostal.com.

 

Kaulkin Ginsberg Launches Topline Valuation Group, LLC
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2015 ARM Industry Operations, Technology & Payments Survey Begins Jan 15th Sponsored by BillingTree

BillingTree®, one of the nation’s premier payment solutions providers will once again sponsor the ARM Industry Operations, Technology & Payments Survey, which opens on January 15th. This is the third consecutive year BillingTree has underwritten the survey, which publishes and distributes the results each spring. The survey is directed toward collection agency owners and senior executives, collection operation and IT staff plus compliance professionals within the ARM Industry. To participate in the 2015 survey, click here Collection Agency Technology and Payments Survey – 2015 or enter https://www.surveymonkey.com/s/9Y9K57K into your browser.

All qualified survey participants completing the questionnaire will be offered a complimentary copy of the full report before it is offered to the public. Multiple persons from the same company or organization are welcome to contribute and encouraged to promote survey participation within the ARM Industry. The survey will be open for approximately 30 days or until adequate responses are collected to be statistically viable.

“It is exciting to see how the results of our third annual ARM Industry Operations, Technology & Payments Survey will compare with previous year’s results,” said Dave Yohe, Head of Marketing at BillingTree. “Our past surveys have proven extremely beneficial to the ARM Industry helping better understand the common challenges agencies face and the technology they use and desire.”

Historical copies of the 2013 and 2014 survey reports are being made available for a limited time at no cost. To download a digital copy of the 2013 report visit http://info.mybillingtree.com/2013ARMstudy.html and for the 2014 report visit http://info.mybillingtree.com/2014ARMStudy.html and complete the short form.

About BillingTree

BillingTree’s mission has centered around assisting companies with growing their business by delivering cost-effective, compliant payment solutions that increase and accelerate collections. Committed to and serving the accounts receivable industry for over a decade, BillingTree is the industry leader in the breadth of integrations with core collection platform systems and payment technologies, and in payment compliance. At BillingTree – Your Growth is Our Business. For more information, visit www.mybillingtree.com or call 877.4.BILLTREE.

 

2015 ARM Industry Operations, Technology & Payments Survey Begins Jan 15th Sponsored by BillingTree

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Delta Outsource Group Achieves the ARM Industries’ Most Rigorous Compliance & Data Security Audit – TECH LOCK Certified

Delta Outsource Group, Inc. a nationwide provider of collection and receivable management programs has completed a holistic audit to show compliance with applicable federal and state data security laws. Created by ARM Industry professionals, TECH LOCK® Certified has been dubbed the “ARM Industry” Gold standard and is the most comprehensive data security audit performed by auditors that have worked as collectors, held top Executive positions, or worked in IT at some of the largest collection companies in North America.

Having an understanding of the client’s business is key to an effective and efficient audit, this is one of the key attributes of TECH LOCK auditors, firsthand knowledge of the ARM Industry.

“There are a plethora of auditing companies to choose from,” says Nick Jarman, Delta Outsource Groups chief operating officer.  “However, in our comprehensive search, there was only one auditing company that had true collection system and processes expertise, auditors who were technologists and had a holistic multi-regulatory audit.” Delta Outsource Group wasn’t looking for what everyone has and or could pass. The TECH LOCK® Certified assessment is in my opinion the most thorough audit in the collections industry that a company can and should go through. Everyone likes to talk about compliance and how secure their data is, but many times it is just that…talk. TECH LOCK® Certified is walking the walk in data security and compliance.”

“We were honored that Delta Outsource Group, a highly reputable and industry engaging company with similar values as our own, selected us to validate their compliance,” says Todd Langusch, TECH LOCK’s president and chief executive officer.  “Jim Peacock and Nick Jarman are well respected in our industry and their management of Delta Outsource Group is a model for the industry. In previous positions at large debt buyers, I have been responsible for overseeing risk management of our outsourced agencies and law firms that required operational and compliance reviews of hundreds of firms and agencies. Of the over 800 companies I have reviewed in my ARM Industry career, I can safely say that Delta Outsource Group is in the top 5% of companies I have reviewed and quite possibly, the top 1%.  A key factor that puts Delta in that top 1% was Nick Jarman’s involvement in the audit. All too often, the IT department at a company deal with auditors. Nick was engaged every step of the way to understand the audit process, the results, and ensure integrity of the audit.

ABOUT DELTA OUTSOURCE GROUP, INC.

Delta Outsource Group, Inc. is a nationwide provider of collection and receivable management programs. We offer a diverse selection of call center solutions from first party, early stage collections to third parties, as well as post charge off recovery programs and customer care projects. Delta Outsource Group, Inc. employs a very highly experienced and motivated workforce that utilizes state of the art technology and strategies.

ABOUT TECH LOCK, INC.

TECH LOCK, Inc. is a DBA International Approved Auditing Firm, Payment Card Industry Qualified Security Assessor (PCI QSA), Approved Scanning Vendor (PCI ASV), and HITRUST CSF Assessor specializing in holistic information security, compliance, and information technology solutions. TECH LOCK’s CEO is an ACA International Certified Instructor and former CIO of one of the largest debt buyers. TECH LOCK is the only auditing services company in the ARM Industry with all of these credentials and thus makes TECH LOCK uniquely skilled in serving ARM companies of all sizes as it relates to data security, regulatory compliance, and IT infrastructure needs.
TECH LOCK is a Service Disabled Veteran Owned Small Business (SDVOSB). For more information, please visit www.techlockinc.com.

Delta Outsource Group Achieves the ARM Industries’ Most Rigorous Compliance & Data Security Audit – TECH LOCK Certified

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Global Debt Registry Scores $7 million in Series A Funding

Global Debt Registry (GDR), the first independent debt repository for storing and tracking consumer debt, today announced it has secured $7 million in Series A funding. The new funding allows GDR to further address the needs of large creditors, debt buyers, and collection agencies that support and service the $3.4 trillion consumer debt market in the United States, including credit cards, home equity, auto and student loans, as well as medical, utility, telecom and government related consumer debts.

The investment will be used to accelerate sales growth and expand operations to support its growing client base. GDR will use the funding to boost sales and marketing efforts to further penetrate the credit card market as well as to expand into new asset classes within the consumer debt market. Additionally, the funds will help bolster service and support functions.

The funding comes on the heels of a landmark year for the company. It was marked by significant increases in customer traction, including increased demand in new asset classes beyond credit card debt, and major media attention, including features in the New York Times Magazine and American Banker. In addition, GDR launched its new Debt Lookup product, the first ever consumer validation tool for debt collection.

GDR’s solutions are at the forefront of industry reforms currently being considered by multiple industry regulators.

“Global Debt Registry offers financial institutions a better way to track, store and share critical non-performing account data with authorized consumers and vendors. The Consumer debt market is one of the last major financial asset classes to not utilize a digital registry, leading to inefficiencies, risk, consumer confusion and increasing regulatory scrutiny,” says Mark Parsells, Chairman and CEO of GDR.

“This investment is a major milestone in support of our mission to digitally transform the way the financial services industry stores and manages information on charged off consumer accounts. We are pleased to see growing market support from a variety of sources to take this business to the next level.”

GCA Savvian Advisors, LLC acted as the exclusive financial advisor to the funding round.

Global Debt Registry enables large enterprises to securely store data and documents on non-performing accounts to facilitate better collection outcomes, whether placed with collection agencies or sold. GDR enables authorized vendors and third parties to securely access critical information to support proof of ownership and substantiate the debt, as well as transparency to consumers via the free application Debt Lookup. Global Debt Registry was identified by American Banker as one of the strongest new ideas at Finovate last fall. Clients include large creditors as well as debt buyers and their collection agencies. (www.globaldebtregistry.com)

Global Debt Registry Scores $7 million in Series A Funding
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U.S. Adds 252,000 More Jobs in December to Cap Best Growth in 15 Years

Just over a quarter million jobs were added to the American economy in December 2014 as the official unemployment rate dipped to 5.6 percent, the lowest reading since June 2008. While the gains were broad-based and slightly higher than expectations, wages unexpectedly dipped in the month for the first time this year.

A total of 252,000 new jobs were created in December according to the monthly survey of employers conducted by the Labor Department. In addition, the initial job gain numbers from October and November were revised upward by a total of 50,000.

The fourth quarter of 2014 was the strongest quarter for job growth since Q1 2006. An average of 289,000 jobs were created each month in the final quarter of 2014.

For the full year, the U.S. economy saw an average of 246,000 jobs added each month. A total of 2.95 million jobs were created in the year, the best single year since 1999 when slowing job growth from the dot com boom was offset by IT hiring in anticipation of Y2K. Close to 3.2 million jobs were created that year.

Job-gains-Dec-2014In December, job gains were seen across most industries. Employment in professional and business services rose by 52,000, construction added 48,000 jobs, employment in food services and drinking places was up 44,000, healthcare added 34,000 jobs, and manufacturing jobs increased by 17,000.

Employment in retail trade changed little in December, following a large gain in November. Employment in other major industries, including mining and logging, transportation and warehousing, information, and government, changed little in December.

But the news was not all good. The average workweek for all employees was unchanged at 34.6 hours in December while average hourly earnings decreased by 5 cents to $24.57. Hourly earnings had increased by 6 cents in November, but the decline in December pushed average wage grow for the year to 1.7 percent, very near the rate of inflation.

Stagnant or very slow wage growth may start hitting ARM companies as they try to collect from debtors. While more people have jobs, their wages are barely keeping up with the price of necessities, which could trigger lower collection rates.

U.S. Adds 252,000 More Jobs in December to Cap Best Growth in 15 Years
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New York AG Announces Settlement with Encore Capital Over Collection Lawsuits

New York Attorney General Eric T. Schneiderman today announced that his office has obtained a settlement with debt buyer Encore Capital Group, Inc. (NASDAQ: ECPG) over the company’s debt collection practices in the legal collection channel.

Schneiderman said that Encore has been bringing “untimely” legal action against New York residents for years. Under the settlement, Encore will seek to vacate more than 4,500 improperly obtained judgments totaling nearly $18 million. The company also agreed to reform its debt collection practices and pay civil penalties and costs in the amount of $675,000.

“Today’s settlement ensures that thousands of New Yorkers will see millions in relief from debts that were not enforceable in the first place,” said Schneiderman. “We will continue to take action against any company that abuses the power of the court system at the expense of hardworking families.”

The Attorney General’s investigation found that, despite the requirements of New York law, Encore brought debt collection claims that were untimely under the statutes of limitations where the causes of action accrued. Because most consumers fail to respond when they are sued by a debt collector, Encore obtained default judgments in its favor based on these time-barred claims.

In addition to seeking to vacate more than 4,500 improperly obtained judgments and paying $675,000 in civil penalties and costs, Encore has agreed to several important reforms of its current practices in New York. These include:

  • Disclosing in written or oral communication about a debt that is outside the statute of limitations that the company will not sue to collect on the debt.
  • Disclosing in written or oral communications about a debt that is outside the date for reporting the debt provided for by the federal Fair Credit Reporting Act that, because of the age of the debt, the company will not report the debt to any credit reporting agency.
  • Alleging certain information relevant to the statute of limitations in any debt collection complaint, such as the name of the original creditor and the date of the consumer’s last payment on the debt.

Schneiderman noted that Encore was also engaged in a practice that is often referred to as “robosigning”: Encore employees signed hundreds of affidavits submitted in support of debt collection actions each day without reviewing the affidavits and without possessing personal knowledge, as alleged in the affidavits, about the claimed debts and the amounts owed. The settlement requires Encore to institute reforms to ensure that “robosigning” does not occur and to ensure that all sworn statements filed in debt collection actions are reviewed prior to execution.

This settlement is a part of the Attorney General’s continuing efforts to combat unlawful and abusive debt collection activity. In May 2014, Attorney General Schneiderman obtained settlements from two major debt buyers, Portfolio Recovery Associates and Sherman Financial Group, who also filed time-barred debt collection cases. Those settlements resulted in the vacature of more than 3,000 improperly obtained judgments.

New York AG Announces Settlement with Encore Capital Over Collection Lawsuits
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Enterprise Recovery Systems Volunteers at Local Food Pantries

Enterprise Recovery Systems, Inc.® (ERS) management staff participated in a Leadership Development Program in which employees volunteered at local food pantries over the past few months.

ERS is committed to developing 21st century leaders through their comprehensive Leadership Development Program. This program is comprised of hands-on training via interactive seminars, process optimization projects geared towards day-to-day operational visual management and process effectiveness. They also engage in 360 Assessments, coaching, team building activities, and continuous, independent online learning activities.

The long-term goal is to arm ERS leaders with the latest and most pragmatic knowledge, skills and tools available to promote high quality performance and continuous growth, all while developing a deep pool of leadership candidates who are prepared to engage in opportunities as they arise.  Team building and philanthropic endeavors are an excellent means to assist in accomplishing this goal.

Since October, dozens of ERS staff members have volunteered at the West Suburban Community Pantry in Woodridge, IL and the Catholic Charities St. Blasé Food Pantry in Summit, IL. Employees were involved in tasks such as sorting food items, loading/unloading groceries to cars, shopping for supplies and packing food bags. To date, ERS has had 73 employees who volunteered a collective total of over 400 service hours.

ERS is honored to be able to give back to organizations such as these through their philanthropic efforts, and is constantly looking for new opportunities to service the community around them.

ERS president, Scott Nicholson was quoted as saying: “Management’s participation in the volunteer programs is part of the organization’s broader commitment to community philanthropy.  ERS and its employees have participated in events as diverse as supporting Hessed House, Avon Walk for Breast Cancer and Toys for Tots to name a few. All told, ERS has contributed $30,000 to these organizations.  As an organization, we feel it is incumbent on us to give back to the community.  Our goal is to combine monetary contributions with feet on the ground support that so many of these organizations so desperately need.  I am very proud of our management team.”

ERS-Group-Pantry-CollageERS provides end-to-end revenue cycle management solutions to assist in accelerating cash flow, increasing revenue, and solving customer contact needs. Services include; accounts receivable management, inbound live operator call support, outbound live operator call support, customized messaging, email support, default prevention, etc. ERS serves the Higher Education community, Government entities, and the Logistics industry.

Enterprise Recovery Systems Volunteers at Local Food Pantries
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NRA Group Lends Support to Central Pennsylvania Food Bank

NRA Group, LLC, and its wholly owned subsidiaries, a Pennsylvania-based Revenue Recovery Company, has supported the Central Pennsylvania Food Bank mission since the year 2004.

This holiday season, NRA Group encouraged staff to participate in this food drive as well as other worthy charities. Total food donations topped 1,655 ponds expected to serve 1,380 meals.

Affiliated with Feeding America, whose mission is to feed America’s hungry through a nationwide network of member food banks and engage our country in the fight to end hunger, the Central Pennsylvania Food Bank provides these statistics:

  • 34% of those served by the Central Pennsylvania Food Bank are children under the age of 18.
  • 8% of those served are under the age of 5.
  • 63% of those served are under the federal poverty level.
  • 44% of those served said they had to choose between buying food and paying for utilities or heat.

Steven Kusic, President and CEO of NRA Group LLC d/b/a National Recovery Agency, states: “We service many consumers facing difficult economic stresses and this is one of the ways we can give back. NRA is committed to helping organizations throughout Pennsylvania in any way possible.”

NRA Group LLC’s food drive coordinator and Corporate Counsel, Ashley Chille notes the importance of coming together during this time of year: “It is wonderful to see so many employees get involved and raise awareness for this cause. This is something the company can do together, as a team.”

The Central Pennsylvania Food Bank distributes more than 32 million pounds of food and grocery products, equivalent to 27 million meals, every year to more than 800 soup kitchens, shelters, and food pantries in 27 central Pennsylvania counties. These agencies directly feed thousands of hungry families throughout the area.

NRA Group LLC’s food drive coordinator and Assistant Manager of Support Services, Alisha Hollerbush said giving back to the local community is something she kept in mind while organizing promoting the food drive this year: “This food drive is important because it’s the Central Pennsylvania Food Bank. It supports our local families and neighbors.”

NRA Group, LLC d/b/a National Recovery Agency is a women owned business enterprise based on the fundamental mission of 100 % Client Satisfaction.  The organization specializes in Revenue Recovery Solutions defined by the expertise of its talented staff and the centers of excellence for compliance, training and technology.

As a Responsible Revenue Recovery company, NRA Group focuses on the most innovative and comprehensive solutions for its clients and their consumers. NRA Group empowers more than 250 talented employees at its two business operation centers. The business has the following certifications: WBE, SSAE 16 Type II (Compliant), ACA-PPMS and PCI-DSS. For seven consecutive years the company’s growth has been recognized by INC 5000 magazine. American Agencies (specializing in Call Center and Letter Services) and EBO Solutions LLC (Your Extended Business Office specializing in Customer Care and Early Out Services) are wholly owned subsidiaries of NRA Group.

NRA Group Lends Support to Central Pennsylvania Food Bank
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Account Control Technology San Angelo Office Donates Coats, Blankets, Linens and $1,267 to Rust Street Ministries

Account Control Technology, Inc. (ACT), a national leader in delivering debt management and recovery solutions, is pleased to announce that employees of its San Angelo office recently donated coats, blankets, linens and $1,267 to Rust Street Ministries, an organization providing material assistance and life skills training to those living in the San Angelo community.

The ACT San Angelo office collected items during November and December, and the money was raised in individual contributions by office employees.

“The winter months can be a very difficult time for many local residents,” said Brian Shively, Director of ACT’s San Angelo office. “ACT is happy to support Rust Street Ministries and their work to help those in need throughout our community.”

Rust Street Minintries is a non-profit organization offering food, clothing, household items, furniture and support to community members needing help. Their outreach programs include a food pantry, a community plot garden, a clothing donation truck, counseling services and life-equipping classes.

Brian Shively, Director of Operations (back row, far right), and other members of the ACT San Angelo office present a donation of cash and goods to representatives of Rust Street Ministries.

Brian Shively, Director of Operations (back row, far right), and other members of the ACT San Angelo office present a donation of cash and goods to representatives of Rust Street Ministries.

Account Control Technology, Inc. is a leader in providing consultative debt management, collection, call center and business office solutions for education, government, commercial and consumer entities. Established in 1990, ACT has been recognized as an Inc. 5000 fastest-growing private company for the past eight years running. The company serves clients nationwide from five office locations: Bakersfield, California; Woodland Hills, California; Mason, Ohio; Dallas, Texas; and San Angelo, Texas. For more information, call 800-394-4228, email info@accountcontrol.com or visit www.accountcontrol.com.

Account Control Technology San Angelo Office Donates Coats, Blankets, Linens and $1,267 to Rust Street Ministries
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Executive Change: Wakefield and Associates Hires Debra Ciskey as Compliance Officer

Wakefield and Associates, Inc. is pleased to announce that Debra J. Ciskey has joined the company as Compliance Officer.  Ciskey will be responsible for development and maintenance of policies and procedures, implementation of Wakefield’s compliance management system, and general matters related to compliance.

Wakefield and Associates, Inc. is an Accounts Receivable Management company based in Aurora, Colorado.

Ciskey has been involved in the collection industry since 1980, when she joined the staff at ACA International in Minneapolis, MN.  In 1993, Ciskey joined Afni, Inc., in Bloomington, IL, where she was initially Director of Training and Development, after which she was named Director of Compliance.  Ciskey is a member of the Board of Directors of ACA International, chairman of the association’s ACPAC committee, and an active ACA certified instructor.

“Debra is a seasoned industry executive with a remarkable track record on providing proven and consistent results. Her enthusiasm, vision, innovation and drive will be part  of our company’s growth strategy. We are extremely excited to have Debra as part of our Wakefield & Associates team ” said Matt Laws, Wakefield’s CEO & Chairman of the Board.

Executive Change: Wakefield and Associates Hires Debra Ciskey as Compliance Officer
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