Fitzgerald Debt Acquisitions Announces New Standards for Originator Confidentiality

Fitzgerald Debt Acquisitions, LLC announces its recommitment to setting standards in providing originating institutions with confidentiality, security, and trust in the debt marketplace.

Jeffery Hartman, President of Fitzgerald Debt Acquisitions, LLC, said, “As the current market for credit card and other consumer paper is difficult, we at Fitzgerald Debt Acquisitions seek to ensure proper practices in marketing and selling our debt portfolios. Originating institutions of all sizes need to know not only is their data secure with each subsequent sale, but their business practices are secure as well. We recently erred in a marketing effort with some consumer paper in securing the name of the originating institution. Fitzgerald has corrected the problem and are implementing a policy where the originating identifying marks of ALL our portfolios shall not be disclosed without both strong confidentiality agreements from AND proper due diligence on debt buyers. We have in the past, and will always ensure our buyers are firms with reputations for solid security, proper collection practices which adhere to FDCPA and TCPA guidelines, financial soundness, and business competence.”

Hartman noted that if the debt buying and sales industry as a whole wants to increase the amount of paper available by originating institutions for purchase, the industry needs to make sure originators are comfortable with business practices industry-wide.

“Fitzgerald Debt Acquisitions is not only concerned with establishing and continuing solid business practices, but in setting a high standard in the debt sale and resale market,” said Hartman. “Financial institutions have enough concerns to deal with at the governmental level without having to worry as to whether or not there will be other repercussions due to debt buyers misbehaving. We at the Fitzgerald have recommitted ourselves to not only being a broker and seller of highest repute, but to advocate for high standards for the debt sales industry, and vocally oppose those who would damage our industry both within and without.”

Fitzgerald Debt Acquisitions is a national broker and seller of consumer, commercial, real estate, and other debt portfolios.

Any questions should be directed to Fitzgerald Debt Acquisitions at 567-336-9400.