Feature Story

Very Competitive Field in ED Collection Performance Rankings

The Department of Education’s criteria for competitive distribution of accounts to private debt collection contractors is producing some interesting results in the monthly performance rankings.

The contractors occupying the top three performance spots have changed as often as a game of musical chairs. But contractors will quickly tell you that one good month won’t win the high stakes game of retaining or winning future ED contracts.

Pioneer Credit Recovery, Inc. of Arcade, N.Y. has been the only consistently top-ranked performer in the unrestricted contractor category since the new contract began in October.  Pioneer’s overall performance score of 98.32 points for May was well ahead of second place CBE Group, who broke into the top three monthly rankings for the first time in May with a score of 80.36.  NCO Group, meanwhile, recovered from its fifth place ranking the previous month to take third place with 79.16 points.

Chad Benson, senior vice president of operations for The CBE Group said the company is reaping the benefits of investments in technology and staff, as well as experience gained from working on the 2004 ED contract.  He said a big factor in continued success for CBE Group, or any agency on the ED contract, will be an experienced staff.

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