Dept. of ED Releases Performance Report for January

The Department of Education released its second performance report on 2009 contractors for January 2010. Rankings for collectors on both the Restricted contracts and the Small Business set aside contracts stayed the same since the first report (“Department of ED Releases First Performance Reports for New Collection Contract,” Feb. 5, 2010).

Once again Pioneer Credit Recovery took the lead with a score of 97.11. NCO Financial Systems came in second, scoring 84.90, and Van Ru Credit took the third spot, scoring 75.28.

ED’s performance scores are based on a weighted average of performance metrics, including total dollars collected, total accounts serviced and administrative resolutions. The scores are released each month, but compiled for internal scoring on a quarterly basis. Final quarterly rankings determine bonuses and account placement levels.  

Even though rankings stayed the same, the report shows that more accounts were serviced and a larger amount was collected in January. Pioneer Credit collected $1.7 million from 3200 accounts serviced, NCO collected $ 1.3 million from 3,000 accounts and Van Ru collected 1.2 million from 2800 accounts.

On the Small Business contracts, Coast Professional topped the competition with a score of 90.21 with $562,469 collected. Delta Management Associates came in second with a score of 77.50 and $474,246 collected.

In three months 2009 contractors have collected a total of $20.3 million.

View the reports: http://fsacollections.ed.gov/contractors/pca2009/index.html