SOUTHLAKE, Texas — Peritus Portfolio Services announced an alliance with PassTime, a provider of GPS tracking and automated collection technology solutions for the auto finance industry. It will provide PassTime’s dealers clients with access to the portfolio buyer’s programs.

More than 2,500 Passtime dealers will have direct access to Peritus Portfolio programs. The company is a buyer of performing and nonperforming auto loans, and specializes in the purchase 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.”

Gary Perdue, president of Peritus Portfolio Service, 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.”

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