Performing Beyond Client Goals Since 1980

Pioneer collects on portfolios of nearly $50 billion and ranks among the top 20 collection agencies in the country. We have a track record of helping clients succeed without compromising their goals, integrity, or reputation.

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Pioneer acquires collections firm specializing in local government and court services

ARCADE, N.Y., Sept. 1, 2011—Pioneer Credit Recovery, Inc., a Navient company, announced that it has completed the acquisition of SC Services & Associates, Inc., a Lake City, Florida-based agency that provides collections services to local governments and courts.

“This transaction expands Pioneer’s core capabilities in government collections adding deeper experience and an even stronger track record to serve virtually any type of federal, state, municipal or court client,” said Joan Ludwick, who leads Pioneer Credit Recovery. “Our combined operation will be a trusted partner to public sector entities of all sizes and types to help them save taxpayer dollars.”

The acquisition builds upon Pioneer’s proven track record as one of the country’s highest-performing collection agencies for federal and state government clients. With a reputation for high standards, transparency and unmatched professionalism, Pioneer has recovered billions in receivables on behalf of federal clients such as the U.S. Department of Education and a number of state and local governments.

“Over the past decade and a half, the team at SC Services has worked tirelessly to achieve outstanding results for hundreds of court and municipal clients,” said Richard R. Bicknell, president and CEO, SC Services. “In joining forces with Pioneer, we look forward to providing that same level of high-quality service to new and existing clients as we continue to expand our business across the country.”

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Pioneer Credit Recovery: Founded in 1980, Pioneer Credit Recovery, Inc., is a national leader in credit recovery, providing collection services across a variety of asset classes. Headquartered in Western New York, Pioneer partners with multiple state and federal clients, including the U.S. Department of Education and is the recipient of many prestigious awards, including the Better Business Bureau Torch Award for Marketplace Ethics. In continuously surpassing the competition, Pioneer provides clients with quality results, experience, leadership and technology, including state-of-the art infrastructure, telecommunications and collections systems. Pioneer Credit Recovery is a wholly owned subsidiary of Navient Corporation, the nation's No. 1 financial services company specializing in education. Navient Corporation and its subsidiaries are not sponsored by or agencies of the United States.

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CONTACT:

Debby Hohler, 617-454-6741

Patricia Nash Christel, 302-283-4076

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Navient (NASDAQ: NAVI) is the nation’s No. 1 financial services company specializing in education. Whether college is a long way off or just around the corner, Navient turns education dreams into reality for its 25 million customers. With products and services that include college savings programs, scholarship search tools, education loans, tuition insurance, and online banking, Navient offers solutions that help families save, plan, and pay for college. Navient also provides financial services to hundreds of college campuses as well as to federal and state governments. Learn more at Navient.com. Navient Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.