CCA Selected by the U.S. Department of Education to Collect Delinquent Student Loans

Norwell, MA ? Collecto, Inc. d/b/a Collection Company of America (CCA), a privately-held Accounts Receivable Management company with offices throughout the United States, announced that it was one of seventeen collection agencies awarded a U.S. Department of Education, Federal Student Aid (FSA) contract to provide collection and receivable resolution services on defaulted student loans.

This contract represents a significant commitment between the Department of Education and CCA. More than $1.2 billion in defaulted student loans were collected by private companies in FY2004. With the award of this contract, CCA expects to add an estimated 150 personnel at its Norwell, Massachusetts facility.

Paul E. Leary, Sr., Collecto/CCA?s Founder and a current Director said, ?Collectively, the U.S. Department of Education contracts are among the largest debt collection contracts in the world. Our award not only creates jobs in Massachusetts and in our other Regional Centers, but will provide great opportunity to our company and staff. This Contract puts Collecto at the forefront of our Industry.?

About Collection Company of America
Established in 1990, Collection Company of America (CCA) is headquartered in Norwell, Massachusetts. The company has Regional Centers in Atlanta, Chicago, Dallas, Denver, and Los Angeles. The company provides Accounts Receivable and Debt Collection Services for over 1,000 companies and institutions. CCA?s major clients are in Education, Banking, Retail Credit Card, Healthcare, State and Local Governments, the Commercial sector, and now the United States Government.