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Todd Wolfe was twice named National Collector of the Year while working for the former USA Group in Fishers in the 1990s. Then when Reston, Va.-based Sallie Mae bought the student-loan business, Wolfe's job was eliminated.
So he went to work for himself.
Wolfe and colleague David Hoeft founded Indianapolisbased Premiere Credit of North America LLC in August 2000. Hoeft invested $250,000 and Wolfe's mother-inlaw, Tina Mercer, contributed $100,000. Attorney Doug Abrams handled the legal work in exchange for an ownership stake.
Premiere Credit focuses on collecting debt owed to city, state and federal governments- primarily defaulted student loans - although it also has clients like Alabamabased health care provider HealthSouth.
The local company is one of only 16 vendors to receive a $350 million contract from the U.S. Department of Education to recover a portion of the $16 billion in defaulted debt that the agency holds. They handle collections for 11 states, including Indiana.
Wolfe, 34, serves as president and COO overseeing the day-to-day operation of the business; Hoeft, 42, is CEO.
The company got its start in a small...