Bonded Collections is Now Stuart Allan
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
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
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.