Receivable Acquisition & Management Corporation Announces Portfolio Purchases

Receivable Acquisition & Management Corporation which specializes in acquiring and liquidating performing, sub-performing and non-performing receivables, today announced that the Company has purchased two portfolios with an aggregate face value of $1,142,000.

Gobind Sahney, Chairman of RCVA said, “By completing two transactions in the past week, we continue to purchase portfolios at reasonable prices from the originators. This is indicative of our solid relationships with sellers who see the value of working with RAMCO on a long term basis.”

He further said that “In each of these cases, one with a face value of $590,000 and the other with a face value of $552,000, we have a contractual agreement that gives us the ability to acquire additional portfolios from these sellers. One of these transactions marks the second month in a row that we have consummated purchases through our relationship with the California Credit Union League (CCUL). We continue to expand this segment of our business.”

RAMCO also announced recently that it has acquired nearly $2 million in face-value debt in the UK in the past month. RAMCO is focusing not only on American credit unions for portfolios, but UK debt as well.

Max Khan, President and Chief Executive Officer, said recently, “We continue to acquire portfolios in the U.K. at reasonable prices.”