ELGIN, Ill. — Lending Solutions Inc. provides collections outsourcing services to credit unions that are struggling to address the rise in delinquencies in the current economy.
In the last quarter, Lending Solutions has signed on eight credit unions to use their services. According to Lending Solutions Executive Vice President David Brooke, the company typically signs on one client per month and in the past quarter averaged signing two clients a month.
"It's the nature of the financial service environment right now," Brooke said. "People are seeing that its not just mortgage lending where delinquencies are high."
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