Firm Launches Debt Recovery Unit

Diversified subprime lending services provider Reward Enterprises has launched Customer Solutions Inc., a customer debt recovery business and subsidiary of its Customer's Choice Financial Services Inc.

CSI will be headquartered in Stafford, Texas, and managed by Houston-based Retail Collections Services Inc. RCSI retains up to 30% of ownership in CSI.

On the other hand, CSI - with a staff of 25 collectors - will benefit from RCSI's staff of about 70 collection professionals whose face value of collections in the past five years reached a total of $12 million, the company said.

Reward Enterprises president Jeff Fisher called the launch of CSI "an important cornerstone" of the company's overall business model.

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