Capital Financial Group, Inc. has established an impressive track record as a purchaser, collector and re-seller of non-performing consumer credit card receivables in the United States. CFG was founded in July 2002 by Richard Munroe
and Jim Curry
, who collectively have more than 32 years of non-performing debt collection experience. Duluth, GA based CFG acquires defaulted and charged-off consumer credit card receivables, typically directly from the original creditor. Prior to founding CFG, Mr. Munroe served as Vice President of Acquisition and Sales for OSI Portfolio Services, Inc., a subsidiary of Outsourcing Solutions, Inc. (now owned by NCO Group), while Mr. Curry was the Vice President of Eagle Service Corp., one of the early pioneers in the non-performing debt industry. The Company began operations in 2002, initially providing consulting services to various issuers and debt buyers in portfolio acquisition, selling and post-sales support. In January 2004, the Company entered into a formal partnership with Risk Management Alternatives ("RMA") in which CFG was responsible for developing RMA's legal network, providing the analytical research for portfolio purchases, handling the bidding process with debt sellers, and hiring and training RMA's call center professionals. This relationship lasted until mid-2005 when NCO Group ("NCO") acquired RMA. Mr. Munroe was elected to the Debt Buyers Association ("DBA") Board of Directors in 2004, and is currently serving on the Board of Directors as President Elect for the 2012/2013 term. In 2008, CFG co-founded a chapter of Receivables Purchasing Management Group ("RPMG"), a networking organization for debt collection industry professionals and financial institutions in the southeastern region and Atlanta area. The Atlanta RPMG chapter holds quarterly meetings to discuss industry current events and best practices. CFG is a preferred partner with top issuers, resellers, and state and regional debt buyers. Mr. Munroe and Mr. Curry have developed substantial industry relationships during their years in debt buying and collection, which includes collection agencies, collection attorneys, issuers, debt buyers, and industry vendors. The Company has continually revised and improved upon its portfolio scoring and modeling process and its collection methodology over time, and management believes that this experience enables them to produce superior results.