Press Release Peritus Services LLC

Service Contracts for BHPH

By Peritus Portfolio Services, LLC
September 5, 2012

SOUTHLAKE, TEXAS — Peritus Portfolio Services, a purchaser of open bankruptcy auto secured paper from dealers, finance companies, banks and credit unions, recently formed an alliance with PassTime, a provider of GPS tracking and automated collection technology solutions to the specialized automotive finance industry.

Press ReleaseAs part of the alliance, officials indicated more than 2,500 PassTime dealers will have direct access to the Peritus Portfolio Programs of purchasing performing and non-performing vehile loans with specialization in the purchasing of open Chapter 7 and Chapter 13 bankruptcy accounts.

"We are very excited about this new partnership with Peritus," said Chris Macheca, executive vice president of operations for PassTime.

"The ability to provide access to a finance company that specializes in buying bankruptcy portfolios will be another valuable addition to the array of solutions PassTime offers its customers," Macheca continued.

Peritus Portfolio Services president Gary Perdue added, "This alliance not only greatly benefits both companies national dealer base with state of the art GPS tracking solutions, it equally benefits lenders and BHPH dealers with enhanced cash flow opportunities."

Perdue went on to say, "The alliance of our two programs is a natural fit as both companies focus on relationship building programs to assist the BHPH dealers across the U.S. We at Peritus Portfolio Services are proud to partner with such a reputable industry leader as PassTime, and our combined services will yield to a more effective way of conducting business for our dealers in the BHPH automotive industry."

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