Collection Professionals

What Collection Professionals does

Collection Professionals, Inc. is a privately held debt collection and recovery agency founded in 1947 and headquartered in LaSalle, Illinois. The company serves credit grantors across Illinois — both large and small — and operates three physical offices in LaSalle, Macomb, and Joliet. Its service portfolio centers on regular contingency-fee collection, litigation by assignment (where Collection Professionals files in its own name and advances court costs), NSF check recovery, and a specialized rural healthcare collections practice supported by memberships in ACA International, AAHAM, and ICAHN.

The company's operational backbone combines certified human collectors with light digital tooling. All employees making debtor contacts are Certified Collectors under the American Collector Association, and the owners hold the Fellow in Collection Business Management designation. Digital touchpoints are limited to a Jextranet client portal for account submission, file upload, and payment reporting, plus online bill payment through USA ePay with a $25 minimum transaction. No proprietary technology platform, AI/ML capabilities, patents, or technology-stack disclosures are present in the source data.

The business model is straightforward: Collection Professionals earns contingency fees on amounts successfully collected, with no upfront charges to clients and court costs advanced on litigation matters. It markets through direct sales to credit grantors and trade-association channels, distributes services via the Jextranet portal and phone/fax, and is owned outright by Scott Edwards and Greg Himelick, each with over 37 years of ARM industry experience. There is no disclosed funding, no institutional investors, and no public revenue figure.

Name

Collection Professionals

Legal name

Collection Professionals, Inc.

Website

https://collprofinc.com

Company type

Private

Founded year

1947

Operating status

Operating

Headcount range

11–50 employees

Short description

Collection Professionals is a privately held Illinois-based debt collection agency founded in 1947, serving credit grantors and rural healthcare providers through contingency-fee regular collections, litigation by assignment, and NSF check recovery from three Illinois offices.

Ownership category

akta.pro rank

Headquarters

HQ city

La Salle

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Contingency Fee Collection Services: The company operates on a contingency fee basis where no charges are incurred if collection is not successful. This applies to regular collection services, litigation by assignment, and NSF check collection. Clients have no additional expenses as Collection Professionals advances all court costs in litigation matters.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Collection Professionals, Inc. is an Illinois-based debt collection agency that recovers outstanding debt on behalf of credit grantors under contingency fee arrangements (no collection, no charge). Its core offerings are regular debt collection, litigation by assignment (legal action filed in the company's name with all court costs advanced), NSF check collection, and a specialized rural healthcare collections practice.

Product overview

Collection Professionals, Inc. operates as a debt collection and recovery services company offering a unified suite of collection services. The core portfolio consists of five main service offerings: Regular Collection Services (contingency-based debt collection with certified collectors), Litigation by Assignment (legal action filing), NSF Check Collection, Rural Healthcare Collections, and Outstanding Customer Service. The company also provides complementary digital services including Jextranet Client Portal (for account submission and file management) and Online Bill Payment (via USA ePay integration). All services are delivered through three Illinois offices in LaSalle, Macomb, and Joliet.

Differentiator

Problem solved

Functional benefit

Products and services

• Regular Collection Services

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Partnerships

Six partnerships are on record, tiered core and minor.

• ACA InternationalcoreOthersAmerican Collectors Association International - Collection Professionals is a member and both CEO and COO have served as delegates to ACA International. The company participates in this leading trade organization for the accounts receivable management industry.
• AAHAM (American Association of Healthcare Administrative Management)coreOthersBoth national AAHAM and Illinois state chapter membership. Collection Professionals specializes in rural healthcare collections and is a member, supporter, and partner of AAHAM organizations.
• ICAHN (Illinois Critical Access Hospital Network)coreOthersCollection Professionals is a member, supporter, and partner of ICAHN, understanding and appreciating the unique needs of rural healthcare clients outside larger city limits.
• GLCCA (Great Lakes Credit & Collection Association)coreOthersFormerly Illinois Collectors Association, GLCCA is the regional trade association. Both CEO and COO are Past Presidents of the Illinois Collectors Association.
• Illinois Valley Area Chamber of CommerceminorOthersLocal chamber membership supporting the LaSalle office and community involvement.
• Grundy County Chamber of Commerce & IndustryminorOthersLocal chamber membership supporting community business connections.

Scale indicators3 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• IC System: IC System is a mid-size third-party collection agency serving consumer and commercial creditors with contingency-fee recovery and integrated payment portals. Closely comparable to CPI in business model, customer mix (credit grantors), and emphasis on first-party-style recovery ratios.
• Transworld Systems: Transworld Systems provides third-party debt recovery for commercial and consumer accounts, including contingency collections and litigation support. Direct peer with a similar product matrix and creditor client base.
• Williams & Fudge: Williams & Fudge is a long-standing third-party consumer debt collection agency offering contingency-fee recovery across the U.S. Comparable in size, service orientation, and contingency pricing model.
• Convergent Outsourcing: Convergent Outsourcing provides recovery services across consumer credit portfolios including third-party collections, healthcare, and commercial debt. Overlapping service offerings and healthcare specialization make it a relevant direct peer.
• Wakefield & Associates: Wakefield & Associates is a debt recovery firm serving credit grantors and healthcare providers. Comparable mid-size regional competitor with mixed third-party and litigation offerings.
• Harris & Harris: Harris & Harris provides debt collection and accounts receivable management for consumer and commercial clients. Similar mid-size independent agency profile with contingency-based revenue model.

Broad incumbents

• AllianceOne: AllianceOne is a larger, national third-party collection agency serving financial services, healthcare, and commercial clients. Broader incumbent with overlapping capabilities but materially larger scale and geographic reach.
• PRA Group: PRA Group is a global leader in debt purchasing and third-party recovery on consumer receivables. Operates at fundamentally greater scale and across portfolio buying, which is adjacent to (and partially overlapping with) CPI's contingency collection model.
• Encore Capital Group (Midland Credit Management): Encore Capital Group, operating through Midland Credit Management, is one of the largest U.S. debt recovery and portfolio buyers. Broad incumbent in the same third-party collections / debt recovery category but with vastly greater capital base.
• GC Services: GC Services is a large third-party collection agency providing consumer recovery, customer care, and litigation support. Adjacent broad incumbent that competes with CPI for the same credit-grantor clients.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/collection-professionals-inc-

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Collection Professionals