Richmond, VA, June 18, 2003 – InoVision, A Marlin Co. LLC, a provider of after collection solutions for utilities in the country, announced that it has hit the $1 billion mark in the area of purchasing debt at face value from investor owned utilities in the United States, Canada and Puerto Rico.
“Hitting the one billion dollar mark signals an historical achievement in the debt buying industry,” said Joel Lewis, president of InoVision and Marlin Integrated Capital Holding Corporation. “It is truly a mark of excellence, a yardstick of moving the sale of utility debt from the speculative to the tried and true.”
According to a recent white paper, published by Deloitte and Touche, titled “Ideas for Utilities in Credit and Collections,” a quick way for utility companies to generate cash is to sell charged-off accounts in a low cost, high-return technique. These otherwise forgotten, charged off accounts can be a quick and attractive source of cash, cash that can be used to fund longer-term strategic enhancements.
“We are glad to get this type of concept validation from a recognized analyst group like Deloitte and Touche. This is truly an emerging market that InoVision and its’ holding company Marlin Integrated Capital Holding Corporation created,” said Lewis. “We understand the special needs of utilities and know how to turn their dormant bad debt into immediate cash. Utility companies who are considering selling charged-off accounts should have the confidence that InoVision provides them with a net source of cash in a reasonably short timeframe.”
About InoVision, A Marlin Company LLC.
InoVision, A Marlin Company LLC, is a provider of after collection solutions for utilities in the country. Founded by former utility company employees for utility company employees, InoVision understands the special needs of utilities and knows how to turn dormant bad debt into immediate cash. InoVision can be reached at 804-364-0195 or at http://www.inovisioninc.com.