F.H. Cann to Seek GSA Contract

North Andover, Mass. — F.H. Cann, Inc. (F.H. Cann), a nationwide higher education receivables management company, has announced it has begun preparing an offer to the U.S. General Services Administration (GSA) to seek inclusion on GSA’s Financial and Business Solutions (FABS) schedule for Special Item Number (SIN) 520-4, Debt Collection. This is generally regarded to be the first formal step a collection agency must take to pursue a direct contract award from the U.S. Department of Education (ED) to participate in its Private Collection Agency (PCA) contract.

The company made the decision to move forward based on the following past accomplishments and achievements.

• Nationwide experience for guaranty agencies, colleges and universities, and private lenders
• Ongoing experience as a subcontractor to a PCA currently serving ED
• Key management with extensive student loan experience
• The ability to recruit talented, highly experienced ED collectors
• Documented out-performance of other PCAs when competing head to head for guarantors
• Technology, security, and call center capabilities that compare favorably with current ED PCAs

Company President Frank Cann stated, “We view this initiative as a natural next step. F.H. Cann is extremely proud to have a long, successful track record in the student loan portfolio management arena. Our extensive expertise in the student loan vertical is well documented. That experience, coupled with our access to an incredibly rich student loan-centric talent pool, provides F.H. Cann with a tremendous foundation on which to build the next evolutionary phase of our managed-growth expansion plan. It is important to state that this was a decision we did not take lightly. We at F.H. Cann have been planning for this moment for quite some time. I am truly confident that with our incredibly talented leadership team and the unwavering dedication of our experienced staff, if we are provided with the opportunity, we at F.H. Cann will quickly prove ourselves a valuable asset to the GSA and ultimately the U.S. Department of Education.”

About F.H. Cann
Incorporated in 1999, F.H. Cann is a nationwide, woman-owned, higher education receivables management company operating from a centralized office in North Andover, Massachusetts. The company serves guaranty agencies, colleges and universities, private lenders, and other clients by applying more than 100 years of combined management experience to client initiatives.

http://www.insidearm.com/daily/debt-collection-news/debt-collection/dept-of-ed-pca-subcontractor-f-h-cann-to-seek-gsa-contract/