Stellar Recovery Announces New Financing Partnership to Fund Debt Purchases

Stellar Recovery, Inc., a national asset recovery company with offices located in Kalispell, Montana and Jacksonville, Florida announces their new financing partnership with BasePoint Capital, a specialty finance company based in Greenwich, Connecticut.   This partnership gives Stellar the ability to purchase portfolios valued over $1 Billion in face value in 2011.

To date this year, Stellar has currently purchased portfolios totaling over $155 Million in face value and has spent more than $11 Million in capital.  They are currently seeking prime and mid-prime product in retail/consumer credit cards, consumer loans, cable, telecom and utility markets said Doffie Howard, President.   John Schanck, Chairman expressed that we are expected to spend over $100 Million in 2011 to acquire over $1 Billion in distressed assets.

Founded by John Schanck and Bob Peterson, Stellar Recovery Inc. is a privately held company which acquires charged off receivables from credit grantors and financial institutions.  Their unique scoring model provides exceptional recovery services to creditors and distressed debt portfolio purchasers.  To maximize their performance, in January, 2011 Stellar Recovery has added a new branch office in Jacksonville, Florida.  Leading collection strategies and asset management platforms are organized and driven to deliver maximum recoveries in the most cost effective way.

Stellar Recovery’s vast infrastructure, customized processes and leading edge technology provides vital information needed to bring clients and investors superior recovery performance.  Our highly trained and experienced representatives recognize the uncertainty of our current economy and understand the challenges consumers face.  All consumers are treated with the utmost respect and professionalism.

Stellar Recovery, Inc. continuously watches the market and reviews consumer debt portfolios using the latest analytical methods.   They choose the portfolios which have the potential to meet or exceed the targeted recovery levels.   In addition, flexible and creative “portfolio acquisition” structures are offered to our investors.

For more information, contact Doffie Howard, President at doffie.howard@stellarrecoveryinc.com