Inc. 500 Debt Purchaser/Collector Names Replacement for CEO

by Patrick Lunsford, CollectionIndustry.com

Chicago-based Resurgence Financial, LLC, a purchaser and collector of credit card receivables, announced yesterday that it has named a successor to former CEO David K. Kaplan, who died suddenly earlier this month.

H. Joshua Chaet will take over as head of the firm which was recognized by Inc. magazine as the 28th fastest-growing company in the country. Chaet is a founding partner of the firm who previously held the position of COO.

?We will continue to work toward reaching our goals and remain excited and positive about the future. Resurgence Financial is committed to success and prosperity in order to maintain the vision that David established for its investors, employees and the company as a whole,? said Chaet.

Senior Vice President Robert A. Russo stated that ?our leadership team will continue to implement its plans, which are the cornerstone of David?s ambitions. Resurgence Financial is a success story, in part, because of a combination of dedicated and intelligent employees and highly skilled management, both at the core of David?s original strategy.?

With more than 80 employees and multiple locations nationally, Resurgence Financial specializes in late-stage collection enforcement using a process it calls Controlled Litigation Strategy. Resurgence was formed in 2001 and sold a minority stake to private equity last year.