Collections Institute of Canada Ltd. Announces Name Change and Strategic Alliance

Collect Canada Ltd., formerly Collections Institute of Canada Ltd., announced yesterday that it has changed its name to Collect Canada Ltd to better reflect the company’s vision and services it provides to the Canadian and international markets.

In addition to the name change the company also announced a strategic alliance with Collect America, Ltd. of Denver, Colorado. Founded in 1994, Collect America is one of the largest purchasers of charged off consumer debt in the United States with approximately $8.5 billion of purchased debt (face value) over its history. Collect America utilizes a unique attorney franchise network to collect the debt it purchases.

Georg Leber, President of Collect Canada, stated, “The strategic partnership formed with Collect America and the new branding of the Company reflect the position of Collect Canada as a full service national provider within the collection services industry. Collect Canada will now be better positioned to collect contingent portfolios, offer debt purchasing as a collection alternative to its existing and prospective clients and in addition provide in house legal processing to assist in the process of portfolio collections.

Christopher Walker, Vice President, added, “We are very pleased with the opportunities that present themselves as a result of the strategic partnership with Collect America and the business model we have adopted as a company. We have positioned Collect Canada to become a leader in the collection services industry.”