The only thing that has changed is the name. Bonded Collections of Tucson, Inc., an agency that was established in 1982 and has become one of the largest commercial collection agencies in the country, will now be called Stuart Allan & Associates, Inc.

The name change reflects the dramatic growth of the business, which was recently ranked 26th among the 200 largest collection firms in the United States by Thomson Financial’s Credit Collections Directory. “Our business is national and commercial in scope, and a name with more limited geographical implications no longer works,” says Stuart Spivack, the company’s President. “Our new name has another advantage...people respond more readily to a name that doesn’t have the word collection in it.”

With the inclusion of Bonded Collections of Phoenix (AZ), Southern California Creditors (CA), and Mercer Graham & Associates (SD), Stuart Allan & Associates, Inc. will certainly leap into the top 20 of the largest US domestic commercial collection agencies.

The company was founded by Jerome Lippman, a 30-year veteran of the collection business, and was converted to a corporation in 1995. Its early focus was on consumer debt with the majority of accounts located in Tucson or other parts of Arizona.

When Spivack, with a decade of experience in the insurance industry, joined the firm in 1992, he saw the need for niche commercial collection work within the insurance, surety and premium finance industries. The company’s annual revenues were close to $600,000.

Within three years, the explosive growth of the business precipitated a move to its current 26,000 square foot building in Tucson and the purchase of an 8000 square foot building in Phoenix. Last year, its revenue exceeded $6.5 million, and in 2001, is headed for $9 million. Account placements for 2001 will exceed $200 million. The staff of 25 nine years ago has expanded to more than 170 today.

The transfer of ownership from Lippman to Spivack and Vice President Allan Parcelluzzi was initiated in 1995 and completed in January of this year.

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