Jormandy

What Jormandy does

Jormandy, LLC is a Virginia-domiciled receivables management company established in November 1998 and operating as part of the Security Credit Services family of companies. The company purchases performing, delinquent, and charged-off consumer and commercial receivable portfolios from credit issuers, creditors, and accounts receivable portfolio owners at a discount, then services and collects on these debts directly with consumers in Virginia and Maryland. Its revenue model combines one-time portfolio acquisitions with transaction-based collection and settlement activity, where profitability depends on collecting more than the purchase price across purchased portfolios.

Jormandy's core products are receivables purchasing, debt collection services, and consumer settlement negotiation, supported by a consumer-facing online payment portal integrated with Repay.io for check and debit card transactions. The company states it uses "the latest software and technology available in the receivables management industry," though specific platforms, scoring systems, or analytics tooling are not disclosed. The technology stack appears lean, centered on the payment portal and standard receivables management workflows rather than proprietary systems.

The company operates on a hybrid B2B/B2C model: B2B in purchasing portfolios from a base of long-standing seller relationships, and B2C in directly contacting consumers through phone, mail, and digital channels to negotiate settlement or payment. Jormandy holds RMAI Certified Receivables Business status (C1401-1010) and operates under FDCPA compliance, with leadership anchored by General Counsel Diane J. Manning (President of the Virginia Creditors' Bar) and Chief Compliance Officer Brett Soldevila (CRBP certified). The firm is headquartered in Norfolk, Virginia, with no disclosed headcount, revenue, funding history, or expansion into additional states.

Name

Jormandy

Legal name

Jormandy, LLC

Website

https://jormandy.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

1–10 employees

Short description

Jormandy, LLC is a Virginia-based receivables management company, founded in 1998, that purchases delinquent consumer and commercial debt portfolios and services past-due accounts for consumers in Virginia and Maryland as a subsidiary of Security Credit Services.

Ownership category

akta.pro rank

Product category

Debt Collection and Receivables Management

NAICS

Collection Agencies (56144)

SIC

Services-Consumer Credit Reporting, Collection Agencies (7320)

akta.pro primary industry

Debt Buying / Portfolio Acquisition & Recovery (Debt Purchasers) (BPAAAEAG)

akta.pro secondary industries

Third-Party Debt Collection Agencies (Consumer & Commercial) (BPAAAEAB), Debt Buying & Portfolio Acquisition (Charged-Off Receivables) (FSAKAJAC), Third-Party Collection Agencies (Consumer) (FSAKAJAB)

Keywords

• Debt collection services
• Receivables management
• Delinquent receivables purchasing
• Consumer debt recovery
• Debt settlement services

Headquarters

HQ city

Norfolk

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Purchasing Delinquent Receivables: Jormandy purchases delinquent, performing, and charged-off consumer and commercial receivable portfolios at a discount. The company acquires rights to collect on these debts from original creditors and portfolio sellers, generating revenue by collecting more than the purchase price.
2. Debt Collection Services: The company provides receivables management and collection services for purchased portfolios, including locating consumers, negotiating settlements, and processing payments.
3. Consumer Settlements: Jormandy works with consumers to find acceptable solutions for payment of past-due accounts, often negotiating settlements for less than the full balance owed.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Jormandy purchases delinquent consumer receivables portfolios from creditors and originators, provides third-party debt collection services on past-due accounts, and negotiates settlement arrangements directly with consumers. The firm operates in Virginia and Maryland, offering creditors a recovery channel for charged-off debt while giving consumers a structured path to resolve outstanding balances.

Product overview

Jormandy operates as a receivables management company with three core service lines: purchasing delinquent receivables portfolios, providing debt collection services across Virginia and Maryland, and negotiating consumer settlements. The company offers a consumer-facing payment portal as an add-on module enabling online payments via check and debit card. Jormandy also provides related services including receivables acquisitions, account management, and data services through service providers.

Differentiator

Problem solved

Functional benefit

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Partnerships

One partnership is on record.

• Security Credit ServicescoreOthersSecurity Credit Services is a certified receivables business (C1401-1010) and includes a family of companies with Jormandy. Security Credit Services is linked on Jormandy's website footer. Both entities share the same RMAI certification and appear to operate as affiliated companies under common ownership or control.

Scale indicators2 records

Recent moves4 records

Expansion highlights2 records

Direct peers

• Financial Credit Services: A mid-sized debt buyer and third-party collection agency focused on consumer receivables. Operates in the same space as Jormandy, purchasing charged-off portfolios and providing collections services across multiple states.
• National Credit Adjusters: A privately-held debt buyer and collection agency that purchases charged-off portfolios and operates a recovery center. Comparable to Jormandy in business model, combining portfolio acquisition with active collection operations.
• IC System: A family-owned debt collection agency that has operated for over 80 years, similar to Jormandy's privately-held, multi-decade operating history. Comparable as a mid-sized, privately-held third-party collection agency focused on consumer and commercial receivables.
• Southwest Credit Systems: A family-owned third-party collection agency and debt buyer providing receivables management services. Comparable to Jormandy as a privately-held, multi-generational agency offering both debt purchasing and collection services to creditors.
• Security Credit Services: Jormandy's parent company and part of the same family of companies. Operates as a certified receivables business in overlapping markets, making it the most directly comparable entity with shared ownership, RMAI certification, and similar service offerings.

Broad incumbents

• Encore Capital Group: Leading multinational debt buyer operating through Midland Credit Management and other subsidiaries. Engages in the same portfolio purchasing and consumer collection activities as Jormandy, but with multi-billion-dollar portfolio holdings and international reach.
• PRA Group: One of the largest global debt buyers and collectors, purchasing and servicing defaulted consumer receivables. Directly comparable to Jormandy's core business of purchasing and servicing charged-off portfolios, but at vastly greater scale with global operations.
• Portfolio Recovery Associates: A major US debt buyer and collector (now part of PRA Group) that purchases defaulted receivables and performs recovery services. Operates in the same portfolio acquisition and consumer collection space as Jormandy at national scale.
• Afni (Afni Inc.): A large customer management and debt collection services provider with call center operations. Comparable to Jormandy in offering consumer-focused debt collection services, though Afni operates at significantly larger scale with broader service offerings.
• Convergent Outsourcing: A large third-party collection agency and receivables management provider serving consumer and commercial markets. Comparable to Jormandy in core debt collection services, but operates at national scale with enterprise-grade technology.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/jormandy-llc

Compliance2 records

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 Jormandy