NCO Group Inc., based in Horsham, Pa. and one of the nation's largest accounts receivable management companies, reported revenues of $390.3 million in the fourth quarter ended Dec. 31, 2010. The company also reported a net loss of $155 million for the full year 2010 compared to a net loss of $84.2 million in 2009.

In response to Minnesota Attorney General Lori Swanson's allegations in a legal action announced Monday (see story), debt buyer Encore Capital Group sent the following statement to Collections & Credit Risk:

NCO Group, the largest collection agency based on revenue, announced Monday the appointment of Ronald A. Rittenmeyer as company president and chief executive, effective immediately.

Asset Acceptance Capital Corp., a buyer of defaulted consumer debt, reported total revenue Thursday of $47.5 million for the fourth quarter ended Dec. 31, up 154% from $18.7 million a year earlier. The company’s net loss dropped 65.3%, to 7 million from $20.2 million.

DBA International, the largest trade association representing the debt buying industry, announced Thursday that it has formally adopted a "Statement of Principles and Guidelines for the Sale and Purchase of Consumer Debt."

First BanCorp, based in San Juan, Puerto Rico, is selling a loan portfolio with an unpaid principal balance of $516.7 million and a net book value of $438.5 million to a joint venture company owned by PRLP Ventures LLC - an investing company created by Goldman, Sachs & Co. and Caribbean Property Group.

With the law of supply and demand at work - more buyers chasing fewer deals - debt buyers continue to see portfolio prices remain stubbornly high, regardless of the age of the debt.

Plaza Associates, an employee-owned 50-year old collection agency servicing major blue chip companies, announced Friday it has acquired ACB American Inc., a Covington, Ky. company that specializes in the health care and credit card sectors.