Each element of the Ascension approach was developed from the company's roots as a law firm specializing in consumer bankruptcy. Throughout its twenty year history, Ascension has experienced a natural evolution to its current leadership position. In its early years, the company provided bankruptcy services to local and regional clients. Subsequently, in the late 1980's, the company took its first major step into the nationwide consumer bankruptcy industry when it was called on to develop national bankruptcy programs for industry leaders such as Chase Manhattan Bank and Citicorp.
The next phase witnessed the company accepting the challenge of providing turn-key bankruptcy servicing for The Associates. Working over 100,000 bankruptcy accounts for The Associates and other top companies during this period provided the experience that is the foundation for Ascension's current growth into larger and more diverse markets. Within a few years of its work with The Associates, the company had broadened its experience base to include the collection of both secured and unsecured bankrupt loans in a wide range of fields including auto finance, household goods, personal finance, home mortgage, home equity loans, and manufactured housing.
After years of experience in providing bankruptcy recovery and legal services in these fields, in 1998 Ascension took the next step in its evolution into a full service bankruptcy company when it teamed with BancOne Capital Markets and Cargill Financial Services for the purpose of purchasing bankrupt loans for its own portfolio. These affiliations allowed Ascension to aggressively pursue and complete a number of transactions in the past years, but more importantly, they positioned Ascension to be a full service player in the area of bankruptcy account management for years to come.
Today, Ascension aggressively pursues four business segments…
· Ascension's Bankruptcy Servicing Program is based on experience through hundreds of thousands of cases, providing a unique mix of expertise and efficiency.
· Ascension's well-financed Account Purchasing function was born of its heritage in legal services and servicing and has positioned the company to take a leadership role in the coming decade.
· Ascension's roots were originally in providing bankruptcy Legal Services. Today, it manages a nationwide network of bankruptcy attorneys, who in turn provide the highest level of skill at a lower cost through volume pricing.
· Finally, the foundation of it all is Ascension's proprietary BKTrakkerTM Software, which allows the delivery and management of the other functions to be carried on at a level years ahead of others in the industry.
In 2005, Ascension joined with Encore Capital Group (ECPG) to develop a relationship which further provided the management, technical, and financial resources to handle the needs of any client. This partnership leveraged Ascension's bankruptcy knowledge with Encore's capital resources and depth of collection expertise to further solidify both Ascension and Encore as industry leaders in their respective fields.
In 2012, American InfoSource LP (AIS), a diversified, global financial services firm based in Houston, acquired substantially all of the assets of Ascension. With AIS’ success performing unsecured bankruptcy functions and ACG’s achievements in the secured market, the acquisition capitalized on the fundamental strengths of each organization, creating the most comprehensive bankruptcy servicing platform in the industry.
For over a decade, AIS has leveraged proprietary and licensed information to maximize growth of performing accounts, improve profitability of non-performing accounts, and ensure brand integrity for its clients. With its core competencies of risk management, data analytics, process design, and programming, AIS offers industry-leading data, account servicing, debt purchasing and integrated consulting solutions in the bankruptcy, estate and debt settlement arenas. For more information about American InfoSource, please visit www.americaninfosource.com.