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U.S. Debt Settlement yesterday announced it has completed its asset acquisition of Compass Credit Services Inc., a Richardson, Texas-based consumer debt reduction and management services company.
The acquisition will extend the service capabilities of Chatsworth, Calif.-based U.S. Debt Settlement, according to the companies. Compass Credit's computing capability included software upgrades, data mining and innovations that will provide productivity solutions for U.S. Debt Settlement's client management efforts.
U.S. Debt Settlement also will build upon Compass Credit's customer relationships by maintaining its outreach strategy and level of client loyalty and satisfaction. Compass Credit's offerings included a transfer of 600 clients and more than 6,700 prospects.
The addition of Compass Credit will advance U.S. Debt Settlement's goal of taking over other debt settlement companies. "I am currently in the process of putting together a letter of intent to acquire another company that has 5,000 clients and does $8 million a year," Michael Mann, U.S. Debt Settlement's president and CEO, said in a news release
"Our acquisition plan will strengthen U.S. Debt Settlement as the leading provider of debt settlement solutions for financially troubled consumers," Mann said, adding that the company expects to go public on the Frankfort Exchange during the first quarter.
