Leading Puerto Rican Collection Agencies Merge

Two leading Puerto Rico financial services companies, Blitz Recovery Services, Inc. and Island Credit & Collection Bureau, have merged and are launching an expansion plan, according to press release issued by the firms. The new company will provide expanded services — under the same roof — to banks, hospitals, financial companies, health care providers, universities, government, telecommunications firms and other businesses.

Both Blitz and Island Credit are known for their success in the business financial services sector: accounts payable, collection of bad debts, client service and call center services.

?We have merged our two companies because we share the same vision and mission, which is to be in the vanguard of technology and to offer high-quality professional work that helps improve the image of the industry on the island,” said Blitz President and founder Joseph Ramos. “Island Credit & Collection Bureau offers a solid infrastructure, which together with the experience of Blitz and its management, will help us be the best company in the industry.”

Ramos added, “The merger will strengthen our services, not only in the area of management of accounts payable and assets, but also to clients.”

Island Credit’s infrastructure will help Blitz increase its customer base and expand operations both in Puerto Rico and off the island, Ramos said.

The merger leaves Blitz Recovery Services with 50 additional client service stations. It also consolidates operations and allows Blitz to cover a larger service area. Blitz’s workforce will increase to approximately 65 employees.

?We have the commitment to build a company with the highest level of professionalism and technology,” Ramos said. “We are facilitators between the creditor and the debtor and we believe our clients need the highest level of professionalism and respect.”