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PRESS
RELEASES
Leasing Executives to Discuss Collection
Problems, Solutions At Annual ELA Convention Oct. 26
ROSLYN HEIGHTS, NY, AND TINTON FALLS, NJ, Oct. 19, 2004—Most
leasing companies spend excess time and money collecting
past-due accounts, with mixed results, according to industry
executives who will explore "Collections and Recovery
Strategies" at the upcoming Equipment Leasing Association
(ELA) Annual Convention in Palm Desert, CA.
Edward Castagna, senior executive vice president of Nassau
Asset Management, and Vernon Gerety, Ph.D., senior vice
president of PredictiveMetrics, will lead an interactive
breakfast session on the topic Tuesday, Oct. 26. Castagna
is chair of the ELA Service Providers Council and a member
of its 2004 Industry Future Council. Gerety has served on
the ELA Credit & Collection Planning Committee for four
years.
Most leasing companies today spend significant resources
in-house on early stage collections, then outsource the
unsuccessful cases to collections agencies, repossessors,
and legal counsel -- or sell the debt. This approach can
be inefficient and costly depending on the account in question,
according to Castagna and Gerety. They will lead leasing
professionals in a discussion of common bottlenecks in the
process, as well as introduce new industry tools that can
help companies increase success rates while reducing delays
and expenses. These tools include:
- Collection
and recovery scoring technology, already used by some
lenders to identify delinquent accounts most likely to
default and determine the cost and effort to expend on
collecting charged-off debts, and
- Collaborative
outsourcing, an outsourcing strategy that streamlines
the entire continuum of collections, repossession, and
remarketing for faster results and improved return on
assets.
About
Nassau Asset Management
Nassau Asset Management of Roslyn Heights, NY, has been
providing full-service asset management, including asset
recovery, collections, remarketing, full plant liquidations,
and appraisals for more than 25 years to the equipment leasing
and finance industry. For more information, please visit
www.nasset.com or call 1-800-4.NASSAU.
About PredictiveMetrics
PredictiveMetrics helps companies turn probabilities into
profits by providing custom and industry-specific scoring
tools for credit risk evaluation, on-going portfolio management,
collections and recovery primarily for the leasing, credit
card, financial services and collection industries. For
more information, visit the company's Web site at www.predictivemetrics.com.
# # #
MEDIA
CONTACTS:
Edward
Castagna
Senior Executive Vice President
Nassau Asset Management
1-800.4.NASSAU, ext. 301
ecast@nasset.com,
cc:carla@crosslink.net
Vernon Gerety, Ph.D.
PredictiveMetrics
Phone: 732-530-2980
vgerety@predictivemetrics.com,
cc: eohare@predictivemetrics.com
Eileen O'Hare
AVP - Marketing
PredictiveMetrics
Phone: 732.530.9303
eohare@predictivemetrics.com
Carla
Young Harrington
SCAPR (For Nassau Asset Management)
540-899-3913
carla@crosslink.net
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