Velocity Asset Management Reports A 141% Rise In November Year-Over-Year Collections

Velocity Asset Management, Inc., a Delaware based firm that focuses on consumer receivables asset management and liquidation, reported that one of its three subsidiaries posted a 180% increase in November year over year collections from its portfolios of non performing

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Velocity Asset Management, Inc., a Delaware-based firm that focuses on consumer receivables asset management and liquidation, reported that one of its three subsidiaries posted a 180% increase in November year-over-year collections from its portfolios of non-performing consumer receivables in the month ended November 30, 2005.

For the month ended November 30, 2005, Velocity Investments posted gross collections of $544,642, a 141% increase as compared to collections of $226,238 in the month ending November 30, 2004. On November 30, 2005, the aggregate initial outstanding principal amount of Velocity Investments’ consumer receivables under management was approximately $150 million, an increase of 780% as compared to approximately $17 million as of November 30, 2004.

The increase in both collections and aggregate initial outstanding principal amount of consumer receivables under management is a result of Velocity Investments’ partial deployment of its first substantial credit facility, a three-year, $12.5 million senior credit facility established in February 2005 with Wells Fargo Foothill, Inc.

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