UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549


                                   FORM 10-Q

(Mark One)

  X    QUARTERLY  REPORT  PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
-----  EXCHANGE ACT OF 1934

       For the quarterly period ended  March 31, 2000  or

       TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
       EXCHANGE ACT OF 1934

For the transition period from ___________ to ____________

Commission file number  333-57249


                             NATIONWIDE CREDIT, INC.
     ----------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

           Georgia                                          58-1900192
---------------------------------                  ---------------------------
(State or other jurisdiction                               (IRS Employer
of incorporation or organization)                     Identification Number)


2015 Vaughn Road, Building 300, Kennesaw, GA                    30144
-------------------------------------------------------------------------------
(Address of principal executive offices)                     (Zip Code)


Registrant's telephone number, including area code:     (770) 933-6659

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by  Sections  13 or 15(d)  of the  Securities  Exchange  Act of 1934
during the preceding 12 months (or for such shorter  period that the  registrant
was  required  to file such  reports),  and (2) has been  subject to such filing
requirements for the past 90 days.

    Yes  X    No

<PAGE>

<TABLE>
<CAPTION>

                                TABLE OF CONTENTS



<S>                                                                                                               <C>
                                                                                                                  PAGE
PART I.  FINANCIAL INFORMATION


         ITEM 1.  FINANCIAL STATEMENTS

         Consolidated Balance Sheets
           as of March 31, 2000 and December 31, 1999 ............................................................1

         Consolidated Statements of Operations
           for the Three Months Ended March 31, 2000 and March 31, 1999...........................................3

         Consolidated Statements of Cash Flows
           for the Three Months Ended March 31, 2000 and March 31, 1999...........................................4

         Notes to Consolidated Financial Statements as of March 31, 2000..........................................5


         ITEM 2.            MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                            FINANCIAL CONDITION AND RESULTS
                            OF OPERATIONS ........................................................................6

         ITEM 3.            QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT
                            MARKET RISK..........................................................................10

PART II.  OTHER INFORMATION



SIGNATURE........................................................................................................12

</TABLE>

<PAGE>



PART I.  FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

NATIONWIDE CREDIT, INC.
CONSOLIDATED BALANCE SHEETS
(Dollar amounts in thousands)

<TABLE>
<CAPTION>


                                                                          March 31, 2000          December 31, 1999
                                                                            Unaudited                  Audited
                                                                         -----------------        ------------------
<S>                                                                      <C>                      <C>
Assets
Current assets:
     Cash and cash equivalents                                           $      7,072             $         --
     Cash held for clients                                                        730                    1,090
     Accounts receivable, net of allowance of
             $390 and $351, respectively                                       15,946                   18,209
     Prepaid expenses and other current assets                                  5,115                    3,709
                                                                         ------------------       ------------------

Total current assets                                                           28,863                   23,008

Property and equipment, less accumulated
     depreciation of $10,509 and $8,946, respectively                          16,610                   14,852


Other assets, net:
     Goodwill, less accumulated amortization of $7,940
           and $7,058, respectively                                            97,930                   98,812
     Other intangible assets, less accumulated amortization
           of $17,770 and $17,412, respectively                                 2,509                    2,867
     Deferred financing costs, less accumulated amortization
           of $2,980 and $2,811, respectively                                   3,894                    4,063
     Other assets                                                                  64                       82
                                                                         ------------------       ------------------

Total assets                                                             $    149,870             $    143,684
                                                                         ==================       ==================


<FN>
The  accompanying  notes  are an  integral  part of these  consolidated  balance
sheets.
</FN>
</TABLE>


<PAGE>


NATIONWIDE CREDIT, INC.
CONSOLIDATED BALANCE SHEETS
(Dollar amounts in thousands)

<TABLE>
<CAPTION>


                                                                            March 31, 2000         December 31, 1999
                                                                              Unaudited                 Audited
                                                                           -----------------       ------------------
<S>                                                                        <C>                     <C>
Liabilities and stockholder's equity

Current liabilities:
    Collections due to clients                                             $        730            $      1,090
    Accrued compensation                                                          4,973                   4,557
    Accounts payable                                                              5,261                   6,468
    Accrued severance and office closure costs, current                             582                   1,139
    Other accrued liabilities                                                     4,868                   6,525
    Deferred revenue                                                                500                     500
    Current portion of capital leases                                               293                     293
    Current portion of note payable                                                  56                      60
    Current maturities of long-term debt                                          6,650                     750
                                                                           -----------------       ------------------

Total current liabilities                                                        23,913                  21,382

Accrued severance and office closure costs, long-term                             1,100                     843

Capital lease obligations, less current portion                                     285                     359

Long-term debt, less current maturities                                         121,231                 121,308
                                                                           -----------------       ------------------

Total liabilities                                                               146,529                 143,892

Stockholder's equity:
Common stock - $.01 par value
  Authorized  - 10,000 shares
   Issued and outstanding  - 1,000 shares                                            --                      --
Additional paid in capital                                                       49,465                  43,465
Accumulated deficit                                                             (45,984)                (43,533)
Notes receivable - officers                                                        (140)                   (140)
                                                                           -----------------       ------------------
Total stockholder's equity                                                        3,341                    (208)
                                                                           -----------------       ------------------

Total liabilities and stockholder's equity                                     $149,870                $143,684
                                                                           =================       ==================

<FN>
The  accompanying  notes  are an  integral  part of these  consolidated  balance
sheets.
</FN>
</TABLE>


<PAGE>


NATIONWIDE CREDIT, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollar amounts in thousands)
<TABLE>
<CAPTION>

                                                                                For the Three Months
                                                                                   Ended March 31,
                                                                        --------------------------------------
                                                                             2000                   1999
                                                                          Unaudited              Unaudited
                                                                        ---------------        ---------------

      <S>                                                               <C>                      <C>
      Revenue                                                           $     33,493             $   27,266

      Expenses:
            Salaries and benefits                                             22,015                 18,432

            Telecommunication                                                  1,319                    919

            Occupancy                                                          1,524                  1,025

            Other operating and administrative                                 4,795                  3,277

            Depreciation and amortization                                      2,804                  2,416

            Provision for employee severance, office closure
                  and other unusual costs                                         --                    243
                                                                        ---------------        ---------------

      Total expenses                                                          32,457                 26,312
                                                                        ---------------        ---------------
      Operating income                                                         1,036                    954

      Interest expense                                                         3,487                  3,114
                                                                        ---------------        ---------------
      Loss before income taxes                                                (2,451)                (2,160)

      Provision for income taxes
                                                                                  --                     --
                                                                        ---------------        ---------------

      Net loss                                                            $   (2,451)             $  (2,160)
                                                                        ===============        ===============

<FN>
The accompanying notes are an integral part of these consolidated statements.
</FN>
</TABLE>


<PAGE>


NATIONWIDE CREDIT, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollar amounts in thousands)

<TABLE>
<CAPTION>
                                                                                           For the Three Months
                                                                                              Ended March 31,
                                                                                  ----------------------------------------
                                                                                       2000                    1999
                                                                                     Unaudited               Unaudited
                                                                                  ----------------        ----------------
<S>                                                                                  <C>                     <C>
Operating activities
     Net loss                                                                        $   (2,451)             $  (2,160)
     Adjustments  to reconcile  net loss to net cash (used in) provided by
       operating activities:
         Depreciation and amortization                                                   3,111                   2,540
             Other non-cash charges                                                         69                     243
      Changes in operating assets and liabilities:
             Accounts receivable                                                         2,223                   1,783
             Prepaid expenses and other assets                                          (1,528)                      6
             Accrued compensation                                                          417                   1,435
             Accounts payable and other accrued liabilities                             (2,818)                 (3,199)
                                                                                  ----------------        ----------------
     Net cash (used in) provided by operating activities                                  (977)                    648

Investing activities
      Purchases of property and equipment                                               (3,321)                   (213)

Financing activities
     Capital contribution                                                                6,000                      --
     Proceeds from short-term debt                                                       5,900
                                                                                                                    --
     Repayment of long-term debt                                                          (530)                    (63)
                                                                                  ----------------        ----------------
     Net cash provided by (used in) financing activities                                11,370                     (63)

     Increase in cash and cash equivalents                                               7,072                     372

Cash and cash equivalents at beginning of period                                                                 3,201
                                                                                            --
                                                                                  ----------------        ----------------

Cash and cash equivalents at end of period                                            $  7,072             $     3,573
                                                                                  ================        ================

Cash paid for interest                                                                $  5,729             $     5,661
                                                                                  ================        ================



<FN>
The accompanying notes are an integral part of these consolidated statements.
</FN>
</TABLE>

<PAGE>


NATIONWIDE CREDIT, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


1.   Basis of  Presentation

     The  accompanying  unaudited  consolidated  financial  statements have been
     prepared in accordance with generally  accepted  accounting  principles for
     interim  financial  information and with the  instructions to Form 10-Q and
     Article 10 of Regulation S-X. Accordingly, certain information and footnote
     disclosures  required  by  generally  accepted  accounting  principles  for
     complete  financial  statements  have  been  excluded.  In the  opinion  of
     management,  all  adjustments  (consisting  of normal  recurring  accruals)
     considered  necessary  for a fair  presentation  have  been  included.  All
     significant  intercompany accounts and transactions have been eliminated in
     the  consolidation.   The  accompanying  unaudited  consolidated  financial
     statements  should be read in  conjunction  with the  audited  consolidated
     financial  statements  of the Company for the year ended  December 31, 1999
     included in Form 10K.  Operating  results for the three-month  period ended
     March 31, 2000 are not  necessarily  indicative  of the results that may be
     expected for the year ending December 31, 2000.

     In June 1998, the Financial  Accounting  Standards  Board  ("FASB")  issued
     Statement  of  Financial  Accounting  Standards  No.  133  "Accounting  for
     Derivative and Hedging  Activities"  (SFAS No. 133).  SFAS No. 133 requires
     companies  to  record  derivatives  on  the  balance  sheet  as  assets  or
     liabilities  at fair value.  It is effective for financial  statements  for
     fiscal years  beginning  after June 15,  2000,  as amended by SFAS No. 137.
     Management is evaluating the impact of SFAS No. 133 on the Company's future
     earnings and financial position, but does not expect it to be material.

2.   Nature of Operations

     The  Company  is  among  the  largest  independent  providers  of  accounts
     receivable  management  services in the United States. The Company's client
     base is  comprised  of  companies  located  throughout  the  United  States
     primarily   in  the   financial   services,   telecommunications,   retail,
     institutional and healthcare industries.

3.   Long-Term Debt and Stockholder's Equity

     During the first quarter of 2000, the Company raised $6.0 million of equity
     from  certain  existing  investors  in  order  to fund  the  growth  of the
     business.  On April 18, 2000,  the Company  negotiated  an amendment to its
     revolving  credit facility and term loan (the "Bank  Facilities") to create
     an  additional  $6.0  million of borrowing  capacity to fund the  Company's
     working capital needs. Specifically,  the existing line of credit under the
     revolving credit facility was increased from $6.5 million to $12.5 million,
     maturing  January  2004 and  bearing  interest at the  Company's  option of
     either (A) the Base Rate plus the  Applicable  Margin or (B) the Eurodollar
     Rate  plus the  Applicable  Margin.  The  amendment  also  revised  certain
     financial  covenants.  The  Company  was in  compliance  with  the  revised
     financial covenants as of March 31, 2000.

4.   Commitments and Contingencies

     The  Company is  involved  in certain  litigation  arising in the  ordinary
     course of business.  In the opinion of management,  the ultimate resolution
     of these matters will not have a material  adverse  effect on the Company's
     consolidated financial position or results of operations.

5.   Provision for Merger Costs, Employee Severance and Office Closure

     In 1998,  as a result of the  acquisition  of the Company and in connection
     with the  implementation  of an  operating  improvement  plan,  the Company
     accrued  estimated  costs of  approximately  $4.0 million  associated  with
     closing certain offices and branches ($2.3 million),  severance payments to
     employees  ($0.8  million),   and  relocation  costs  ($0.9  million).  The
     corporate  offices were relocated in August 1999 and branches that were not
     operating at full  capacity  were reduced or were  consolidated  with other
     branches. In 1999, the Company incurred $1.1 million of other unusual costs
     related to a potential  name  change and  development  of a  marketing  and
     strategic  plan  related  to  a   repositioning   of  the  Company  in  the
     marketplace.  In addition,  the Company  refined its  estimates in 1999 and
     reduced the provision for office closure by $0.5 million as a result of the
     Company  experiencing more favorable  sub-leasing  results. As of March 31,
     2000,   substantially  all  charges  related  to  employee   severance  and
     relocation  had been  incurred.  In the first quarter of 2000,  the Company
     recorded a charge of $0.4 million  mostly  related to office closure costs.
     The remaining  accrued office closure costs of $1.6 million as of March 31,
     2000 represent estimated future rent obligations under cancelled leases.



<PAGE>



ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
              AND RESULTS OF OPERATIONS

Results of  Operations  - (first  quarter of 2000  compared to first  quarter of
1999)

Revenue.  Total revenue  increased  $6.2 million or 22.8% from $27.3 million for
the first quarter of 1999 to $33.5 for the first  quarter of 2000.  The increase
was  primarily  the result of (i) an  increase in revenue of $2.8  million  from
outsourced  pre-charge-off  management services, (ii) a $1.1 million increase in
revenue from  consumer  and  financial  services  account  placements,  (iii) an
increase of $0.3 million from American Express,  (iv) a $2.9 million increase in
revenue  from  telecommunications  account  placements,  and (v) a $0.5  million
increase  in  revenue  from  legal  collections,  offset  by (i) a $0.9  million
decrease in revenue  from on-site  call center  management  services for a major
telecommunications  company and (ii) a $0.8  million  decrease  in revenue  from
healthcare  account  placements.  In the first quarter of 2000, the Company gave
notice of its intent to terminate its service  offering of directory  assistance
operations for a  telecommunications  company,  as it was not considered part of
the core business of the Company.  Revenues generated from directory  assistance
services  in 1999 were less than 10% of the  Company's  total  revenues  for the
year; the impact on net income is expected to be minimal in the year 2000.

Expenses. Salaries and benefits expense increased $3.6 million or 19.4% to $22.0
million for the three  months  ended  March 31, 2000 from $18.4  million for the
three months ended March 31, 1999.  This increase is primarily the result of the
Company's service expansion in outsourced pre-charge-off management services and
telecommunications, including the impact of a parallel ramp-up of a new facility
in March 2000.

Telecommunications  expense  increased $0.4 million or 43.5% to $1.3 million for
the three  months  ended March 31, 2000 from $0.9 million for the same period in
1999.  The  increase is  primarily  the result of  increases  in activity due to
service expansion and ramp-up costs.

Occupancy  expense increased $0.5 million or 48.7% to $1.5 million for the three
months ended March 31, 2000 from $1.0  million for the same period in 1999.  The
increase  is the  result of annual  rent  escalations  and the  addition  of new
facilities in the fourth  quarter of 1999 and the first  quarter of 2000.  These
new facilities provide the needed capacity for future growth.

Other operating and  administrative  expense  increased $1.5 million or 46.3% to
$4.8 million for the three months ended March 31, 2000 from $3.3 million for the
same  period  in 1999.  The  increase  is the  result of the  Company's  service
expansion and ramp-up costs.

Depreciation  and amortization  expense  increased $0.4 million or 16.1% to $2.8
million for the three months ended March 31, 2000 from $2.4 million for the same
period  ended  March  31,  1999.  The  increase  was  primarily  the  result  of
depreciation on capital assets acquired subsequent to the first quarter of 1999.

Operating Income.  Operating income remained level at $1.0 million for the three
months  ended March 31,  2000,  compared to $1.0  million for the same period in
1999.  This is  primarily  the result of an increase in revenue of $6.2  million
with an offsetting increase in expenses of $6.1 million.  Start-up costs related
to the  Company's  growth and to the  opening of new  facilities  including  the
impact of parallel ramp-up costs  temporarily  reduced margins in the quarter as
capacity was added to meet the dramatic increase in business activity.

Interest Expense. Interest expense relating to the term loan facility and senior
notes was $3.5  million for the three  months  ended March 31, 2000  compared to
$3.1 million for the same period in 1999.  This  increase of $0.4 million in the
first quarter of 2000 is the result of (i) an increase in interest  rates on the
term loan facility, (ii) borrowings of $5.9 million against the revolving credit
facility and (iii) interest paid on capital lease obligations.

Net Loss.  The Company  incurred a net loss for the three months ended March 31,
2000 of $2.5  million  as  compared  to a net loss of $2.2  million  in the same
period of 1999.  Start-up  costs  related  to the  Company's  growth  and to the
opening  of new  facilities  including  the  impact of  parallel  ramp-up  costs
temporarily  reduced  margins in the quarter as  capacity  was added to meet the
dramatic increase in business activity.

Liquidity and Capital Resources

In the first quarter of 2000,  the  Company's  continued  growth  resulted in an
increase in working capital  requirements.  To support this growth,  the Company
purchased  approximately  $3.3 million of property and equipment.  These capital
acquisitions  along  with  the  additional  working  capital  requirements  were
financed by  additional  equity  investment  of $6.0 million from the  Company's
current  investors  and  borrowings  of $5.9  million  under the  senior  credit
facilities.

Cash used by  operating  activities  was $1.0 million for the three months ended
March 31, 2000 as compared to cash  provided  by  operating  activities  of $0.6
million for the three months  ended March 31, 1999,  an increase of $1.6 million
of cash used in operating  activities.  This  increase was  primarily  due to an
increase  in working  capital  needs to support  increased  levels of  activity.
Working  capital  increased by $1.7 million for the three months ended March 31,
2000, as compared to no change in working capital for the same period in 1999.

Cash used in investing  activities for the three months ended March 31, 2000 was
$3.3  million as compared to $0.2  million for the three  months ended March 31,
1999.  The Company's  principal use of cash in investing  activities  during the
first quarter of 2000 was for capital  expenditures,  primarily for new computer
and telecommunications equipment for the new facilities.

Cash  provided by financing  activities  was $11.4  million for the three months
ended March 31,  2000  representing  $6.0  million of equity  contribution  from
current  investors  and $5.9 million of borrowings  under the  revolving  credit
facility  offset by the required  quarterly  repayment of the term loan facility
and the monthly repayments of the note and capital lease obligations.  Cash used
in financing  activities  was $63,000 for the three months ended March 31, 1999,
representing the required quarterly repayment of the term loan facility.

Because of the  working  capital  requirements  associated  with  expanding  the
business  and the  need  to  finance  two  new  centers,  the  Company  received
additional  equity investment from its current investors in the first quarter of
2000 totaling $6.0 million. In addition,  during the second quarter of 2000, the
Company  negotiated  an  amendment  to its credit  agreement  (the  "Amended and
Restated Credit Agreement") that creates an additional $6.0 million of borrowing
capacity and revises the cumulative  EBITDA and related  financial  covenants to
reflect  the  Company's  revised  EBITDA  expectations.  Substantially  all  the
agreements relating to the Company's outstanding  indebtedness contain covenants
that impact the Company's  liquidity and capital resources,  including financial
covenants and restrictions on the incurrence of  indebtedness,  liens, and asset
sales. The Company was in compliance with the revised  covenants as of March 31,
2000.

The ability of the Company to meet its debt  service  obligations  and to comply
with the  restrictive  and  financial  covenants  contained in the senior credit
facility  and under the notes  will be  dependent  on the future  operating  and
financial performance of the Company,  which will be subject in part to a number
of  factors  beyond the  control of the  Company,  such as  prevailing  economic
conditions, interest rates and demand for credit collection services.

Management  believes that, based on current levels of operations and anticipated
improvements  in operating  results,  cash flows from  operations and borrowings
available  under the senior  credit  facilities  will be  adequate  to allow for
anticipated capital  expenditures,  to fund working capital  requirements and to
make required  payments of principal and interest on its debt.  However,  if the
Company is unable to  generate  sufficient  cash flows  from  operations  in the
future, it may be necessary for the Company to refinance all or a portion of its
debt or to obtain additional  financing,  but there can be no assurance that the
Company will be able to effect such refinancing or obtain  additional  financing
on commercially reasonable terms or at all.

Income Taxes

The Company has not recorded any tax benefit on its loss before income taxes for
the three months ended March 31, 2000 and 1999 due to the uncertainty  regarding
the realization of such benefits.

Year 2000

In 1997,  the Company  initiated a  company-wide  Year 2000  project  based on a
methodology  recommended  by an outside  consultant,  with a dedicated Year 2000
project  office and  coordinator.  During the first quarter of 2000, the Company
experienced   no   disruptions   in   critical   information    technology   and
non-information  technology  systems and  believes  those  systems  successfully
responded to the Year 2000 date change. The Company will continue to monitor its
critical computer applications and those of its suppliers and vendors throughout
the year 2000 to ensure  that any latent  Year 2000  matters  that may arise are
promptly addressed.

Forward-Looking Statements

This Form  10-Q and other  communications,  as well as oral  statements  made by
representatives of the Company, may contain "forward-looking  statements" within
the  meaning of the  Private  Securities  Litigation  Reform Act of 1995.  These
statements  relate to,  among other  things,  the  Company's  outlook for future
periods,  market forces within the industry, cost reduction strategies and their
results,  planned capital  expenditures,  long-term objectives of management and
other  statements of  expectations  concerning  matters that are not  historical
facts.

Predictions of future results contain a measure of uncertainty and, accordingly,
actual  results could differ  materially  due to various  factors.  Factors that
could  change  forward-looking  statements  are,  among  others,  changes in the
general  economy,  changes in demand for the  Company's  services,  governmental
regulations and other  unforeseen  circumstances.  A number of these factors are
discussed in this Form 10-Q and in the Company's  annual report on Form 10-K for
the year ended December 31, 1999.


<PAGE>



ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
<TABLE>
<CAPTION>

                                                  Long Term Debt
                                              Non-Traded Instruments
                                               As of March 31, 2000
                                                    (in $000's)

                                                                                                              Fair
                                    2000      2001     2002      2003      2004     Thereafter     Total      Value
                                   -------- --------- -------- --------- --------- ------------ ---------- ----------
<S>                                 <C>     <C>       <C>       <C>       <C>         <C>        <C>        <C>
Variable Rate:
    (1)  Term Loan Facility :         $687  $         $         $ 1,200   $17,500       $   --    $21,887    $21,887
                                               1,250    1,250
           $18.0 million             9.93%     9.93%    9.93%     9.93%     9.93%        9.93%
           $  0.4 million           11.75%    11.75%   11.75%    11.75%    11.75%       11.75%
           $  3.45 million          12.00%    12.00%   12.00%    12.00%    12.00%       12.00%
    (2)  Revolving Loan
           $  5.9 million           11.50%        --       --        --        --           --    $ 5,900     $5,900

Fixed Rate:
    Senior Notes due 2008:           $  --     $  --    $  --     $  --     $  --     $100,000   $100,000    $73,000
    $100 million @ 10.25%                                                               10.25%

    Security Agreement                $ 41     $  62    $  46                                      $  149      $ 149
                                    22.50%    22.50%   22.50%
</TABLE>

In January 1998,  the Company  implemented a financing  plan which  included the
issuance of $100 million  10.25%  Senior Notes due 2008 in a private  placement.
The Company  exchanged these notes for $100 million 10.25% Series A Senior Notes
due 2008 which are were registered under the Securities Act of 1933, as amended.
As part of the financing plan, the Company also entered into a credit  agreement
(the  "Credit  Agreement")  which,  as  amended,  provides  for (1) a term  loan
facility in the amount of $25 million  (the "Term  Loan"),  the balance of which
was $21.9  million as of March 31, 2000,  and (ii) a revolving  credit  facility
(the "Revolving Credit  Facility") with a borrowing limit of $12.5 million,  the
balance of which was $5.9 million as of March 31, 2000.

Amounts  outstanding  under  the Term Loan  Facility  and the  Revolving  Credit
Facility bear interest at the Company's  option of either (A) the Base Rate plus
the  Applicable  Margin or (B) the Eurodollar  Rate plus the Applicable  Margin.
Interest  payments are made quarterly for Base Rate loans.  Interest payments on
Eurodollar  loans  are made on the  earlier  of their  maturity  date or 90 days
depending on their term.  The table above presents the rates paid under variable
instruments at March 31, 2000.  Changes in the Base Rate or Eurodollar Rate will
impact the actual interest rates paid by the Company.

The Company's  primary market risk exposure with respect to these instruments is
that of  interest  rate risk.  The Base Rate for any given day for the Term Loan
Facility and Revolving  Credit Facility is equal to the greater of (i) the Prime
Rate in effect on such day, (ii) the Base CD Rate in effect on such day plus 1%,
and (iii) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%.
The Company is vulnerable to changes in all of these rates.

<PAGE>


PART II.  OTHER INFORMATION

Item 1.  None


<PAGE>


SIGNATURE


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant, Nationwide Credit, Inc., has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.


NATIONWIDE CREDIT, INC.




/s/ Thomas C. Ridenour
------------------------------------------------------------
Thomas C. Ridenour
Senior Vice President and Chief Financial Officer

Dated:  May 15, 2000