Executive Change: Asset Acceptance Capital Corp. Announces Appointment of New Vice President of Collections

WARREN, Mich.– Asset Acceptance Capital Corp. (NASDAQ: AACC), a leading purchaser and collector of charged-off consumer debt, today announced that it has hired Mark J. Cavin to assume the role of Vice President of Collections, after an extensive and carefully conducted search process.

“Mark’s broad collections expertise in accounts receivables management, debt purchasing, operations management and nearshore/offshore servicing makes him an excellent candidate for the VP of Collections position at Asset Acceptance,” said Rion Needs, President and CEO, Asset Acceptance Capital Corp. “His commitment to operational excellence in addition to his extensive knowledge in strategic and day-to-day servicing activities will significantly contribute to our goal of driving cash collections, and ultimately shareholder value, going forward.”

Cavin has over 31 years of collection industry experience for major domestic and international collection portfolios. Most recently, Cavin served as senior director and chief operating officer at Arrow Financial Services, LLC at Sallie Mae Co., where he was responsible for the internal and external servicing operations of the company. Prior to joining Arrow Financial Services, Cavin was senior manager with Union Bank of California, where he spearheaded collection and recovery efforts.

“I am excited to join an organization with such a rich history and talented team of individuals. Initially, I will focus my efforts on better defining our associates’ roles and responsibilities to increase operational efficiencies throughout the group,” said Cavin. “I am looking forward to exceeding the expectations set by this management team, while concurrently providing my team with diverse opportunities for professional growth.”

About Asset Acceptance Capital Corp.
For more than 45 years, Asset Acceptance has provided credit originators, such as credit card issuers, consumer finance companies, retail merchants, utilities and others an efficient alternative in recovering defaulted consumer debt. For more information, please visit www.AssetAcceptance.com.