ATLANTA CollectionsX.com Inc., the auctioneer of distressed debt portfolios, has named Michael J. Barrist to its board of directors.
Mr. Barrist is chairman and chief executive officer of NCO Group Inc., a company that helps lenders manage collection services and accounts receivables.
CollectionsX.com has also named Gregory M. Shelton chief operating officer. Mr. Shelton co-founded OSI, the nations largest receivables management company, and at one time worked in collections at Citibanks card group.
CollectionsX, NCO Group, and CyberStarts, a venture capital firm that has invested in the auctioneer, plan in the coming months to start Web services including Xsite, which collections agencies will use to make collections data available to their clients.
Another of the planned sites, Xcentral, will automate reporting so that creditors can distribute accounts to more than one agency.