Our History of Debt Collection Services

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Managing Partner John Debold joined BCA Financial Services in September of 1973 when it was known as Claims & Credit Examiners. He was instrumental in the purchase in 1973 of a small, nearly defunct Sussex County collection agency known as Better Credit Associates, known by the acronym “BCA”. Better Credit Associates swallowed up Claims & Credit Examiners and formed one company owned by Robert E. Debold. Four years later, in 1977 Robert Debold filed papers with the Essex County Court making John a full legal partner in Better Credit Associates. 

John Debold has been active in the New Jersey Association of Collection Agencies (NJACA), since joining in 1977. The NJACA is the New Jersey Chapter of The prestigious American Collectors Association (ACA). John has served as Education Chairman, Public Relations Chairman, Treasurer and finally as its President from 1997-1999. John earned the ACA’s Beacon Award his for commitment to national legislative issues. He currently serves on the NJACA Board as both Trustee and New Jersey 

Political Action Committee (PAC) Chairman.

John wrote two widely circulated publications for BCA Financial Services titled “To Sue or Not To Sue”—about the costs, timing and advisability of beginning a lawsuit, and “A Free Ride”—about the effects of losses on a business. Both are available free to web site visitors.

John Debold has been a guiding force in advancing technology for BCA Financial Services. His knowledge of the federal collection laws as well as a recognized expert in commercial collections has made him well known in the collection field. 

The History Of BCA Financial Services

Early Days of Lyndon Johnson

BCA Financial Services was originally founded by former Crosse & Blackwell sales manager Robert E. Debold in 1968. He began the Bloomfield, NJ located business as a franchisee of Claims & Credit Examiners. The parent company, which sold “claim certificates” for an up-front fee (with a reduced contingent collection fee) soon went out of business. Armed with just enough knowledge to keep his small company afloat without the expertise of the parent company, Robert continued on his own. He struggled with the upfront concept, which was the black sheep method of the industry, until he was able to obtain enough information to run a legitimate collection agency. By "legitimate" is meant charging a contingent percentage only on monies collected. The company has run successfully by this method to the present. 

Growing as Nixon Resigns

Just about this time, his son John Debold joined him (1973) and the "upfront money style" system was phased out completely. John discovered and purchased a collection agency on life support and nearly defunct for sale in Newton, Sussex County, NJ. The infrastructure however, was stronger; trust accounts, bonding, etc., that Robert and John made Better Credit Associates their parent company and folded in Claims & Credit Examiners. (There were other franchisees still operating under the Claims & Credit name, so it made sense for these reasons as well.)

Continuing with the Carter years

Four years later, in 1977, Robert filed legal papers making John a full partner. This was an interesting year as they continued their quest to make Better Credit Associates a first class collection agency. They moved to larger offices. A primitive Apple computer was purchased at great cost. They passed various monetary and legal hurdles to become members of the American Collectors Association (ACA) and its New Jersey Chapter, The New Jersey Association of Collection Agencies (NJACA). Finally, 1977 was the year the U.S. Congress passed the landmark Fair Debt Collection Practices Act (FDCPA) ostensibly protecting consumers from collection agency abuses, but with the hidden benefit making the “golden rule” agencies (in whose company Better Credit considered itself)—stronger, effective and more respected. 

Reaganomics and Technology

By 1983 they were on the move again—to Glen Ridge to occupy offices larger still. During the 80’s technology was king—and Better Credit Associated was not to be left behind. Constant vigilance (and purchases) of technological advances kept the company from falling behind to the behemoths (who in some cases, ironically, have become dinosaurs) in their industry. 

Business in the Clinton years

In 1994 the federal government, in a Federal Trade Commission interpretation of the FDCPA (there have been many over the years), decided that if a collection agency was not in the business of lending money, they couldn’t have the word “credit” in their name. 

The company was renamed BCA Financial Services. Better Credit Associates (in name only) was no more. The FTC later changed its mind, as it’s wont to do, but we liked and stuck with, BCA Financial Services. 

Bush and back to Bloomfield

In 2000, after 17 good years in Glen Ridge, the company returned to its roots with a move back to Bloomfield, NJ. Unfortunately, it was the last move for founder Robert Debold. He passed on in December of 2001 but not without the recognition of his peers. The NJACA made a proclamation and a moment of silence for “Bob” at their annual meeting and the ACA’s national Magazine Collector, in their published obituary; noted his passing with praise and distinction. He was a paragon of business honor and he succeeded in setting a course from which the company will never stray. He was of the belief that all uncollected debt is against honorable business principals, has the potential to hurt the businessman-creditor, and thus must be acted upon with diligence, no matter the size or circumstance. 

BCA carries on to this day keeping that in mind.

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Bio of D.P. Caswell

D.P. “Don” Caswell "Cheech" entered into the collection business in 1973. In his own unique way, one could say he was “born” into the collection business via family necessity. While he was not with the original company, Claims & Credit Examiners, he made his start about the time they were morphing into Better Credit Associates (see company history). 

In one way or another, Don’s name and drive have been part of the BCA collection process via every claim pursued in our office. He had been a part of every grammatical and legal change implemented by BCA in conforming to the myriad legislative and FTC interpretations, since the inception of (collection law) The Fair Debt Collection Practices Act of 1977. (PL. 95-109).

Don has had a somewhat diminished “vocal” role since December of 2001, but has nonetheless championed various changes in a company textual capacity. Still, more telephone requests has been directed to Don that anyone else in the company, bar none.

The “Iron Man” of BCA collections, he continues to amaze the public with his continued prolificness.