Executive Change: Collins Financial Names Howard Knauer SVP of Recovery

Collins Financial Services USA, Inc., a leading purchaser, collector and reseller of charged-off consumer debt, announced today that Howard C. Knauer will join the company as senior vice president of recovery, effective February 5, 2008. Knauer will also assume the title of president of Paragon Way, Inc., a subsidiary of Collins Financial.

Knauer is a financial industry veteran with more than twenty-five years of experience in consumer collections, credit, risk management, and debt selling and purchasing. Prior to joining Collins Financial, he was senior vice president of Debt Resolve, Inc., an Internet-based software company, and president of its debt purchasing subsidiary, DRV Capital LLC. Knauer has also held leadership roles at Receivables Management Solutions, Bear Stearns, Chemical Bank, Fleet/Boston, American Express and Citibank.

In his new role, Knauer will oversee all corporate operations and recovery channels for the Company, including business strategy and analytics, inventory management, call center, outsourcing, agency management and pre-litigation.

Robert DiGennaro, chief executive officer of Collins Financial, said, “We are looking to expand our current business relationships while continuing to focus on our core competencies. As the debt buying industry matures, it becomes increasingly important to manage the interaction between recovery strategy and business analytics. Howard brings a proven record of success and we are excited to have him on-board.”