PRAA
finance.yahoo.com
REUTERS ABRIDGED BUSINESS SUMMARY
Portfolio Recovery Associates, Inc. is a provider of outsourced receivables management. The Company purchases, collects and manages portfolios of defaulted consumer receivables. Defaulted consumer receivables are the unpaid obligations of individuals to credit originators, including banks, credit unions, consumer and auto finance companies, retail merchants and other providers of goods and services. The defaulted consumer receivables the Company collects are generally either purchased from sellers of defaulted consumer debt (Debt Sellers) or are collected on behalf of debt owners on a commission fee basis. Portfolio Recovery specializes in receivables that have been charged-off by the credit originator. Since the Debt Seller has unsuccessfully attempted to collect these receivables, the Company is able to purchase them at a substantial discount to their face value
CPSS
finance.yahoo.com
REUTERS ABRIDGED BUSINESS SUMMARY
Consumer Portfolio Services, Inc. (CPS) is a consumer finance company specializing in purchasing, selling and servicing retail automobile installment purchase contracts, originated by licensed motor vehicle dealers in the sale of new and used automobiles, light trucks and passenger vans. Through its purchases, the Company provides indirect financing to dealer customers with limited credit histories, low incomes or past credit problems. CPS serves as an alternative source of financing for dealers, allowing sales to customers who otherwise might not be able to obtain financing. The Company does not lend money directly to consumers. Rather, it purchases installment contracts from dealers.
ecpg
finance.yahoo.com
REUTERS ABRIDGED BUSINESS SUMMARY
Encore Capital Group, Inc. is a systems-driven purchaser and manager of charged-off consumer receivable portfolios. The receivable portfolios consist primarily of charged-off domestic consumer credit card receivables purchased from national financial institutions, retail credit corporations and resellers of such portfolios. Encore acquires these portfolios at deep discounts from their face values using its proprietary valuation process that is based on the consumer attributes of the underlying accounts. Based upon the ongoing analysis of these accounts, Encore employs a mix of collection strategies to maximize its return on investment. Encore's principal assets are its investments in its wholly owned subsidiaries, Midland Credit Management, Inc., Midland Funding 98-A Corporation, Midland Receivables 99-1 Corporation, Midland Acquisition Corporation, MRC Receivables Corporation, Midland Funding NCC-1 Corporation, Midland Funding NCC-2 Corporation & Midland Receivables 98-1 Corporation.
aacc
finance.yahoo.com
REUTERS ABRIDGED BUSINESS SUMMARY
Asset Acceptance Capital Corp. (AACC) is a purchaser and collector of defaulted or charged-off accounts receivable portfolios from consumer credit originators in the United States. Charged-off receivables are the unpaid obligations of individuals to credit originators, such as credit card issuers, consumer finance companies, retail merchants and telecommunications and other utility providers, as well as from resellers and other holders of consumer debt. Since these receivables have been subject to multiple collection efforts, AACC is able to purchase them at a substantial discount to their face value. Unlike many of its competitors, the Company does not collect on a commission or contingent fee basis. Rather, AACC purchases and collects charged-off accounts receivable portfolios for its own account.
ncog
finance.yahoo.com
REUTERS ABRIDGED BUSINESS SUMMARY
NCO Group, Inc. (NCO Group) is a global provider of business process outsourcing (BPO) services, primarily focused on accounts receivable management (ARM) and customer relationship management (CRM). The Company's ARM business is composed of three operating divisions: ARM North America, ARM International and Portfolio Management. Its portfolio of outsourcing solutions includes accounts receivable management, contact center support and back office support services for a diversified customer base. It supports essential business functions across key portions of the customer life cycle, including acquisition, growth, care, resolution and retention. The Company also purchases and manages past due consumer accounts receivable from consumer creditors, such as banks, finance companies, retail merchants and other consumer-oriented companies.
asfi
finance.yahoo.com
REUTERS ABRIDGED BUSINESS SUMMARY
Asta Funding, Inc. acquires, manages, collects and services portfolios of consumer receivables. These portfolios generally consist of one or more consumer receivables including charged-off receivables, semi-performing receivables and performing receivables. Charged-off receivables are accounts that have been written-off by the originators and may have been previously serviced by collection agencies. Semi-performing receivables are accounts where the debtor is making partial or irregular monthly payments, but the accounts may have been written-off by the originators. Performing receivables are accounts where the debtor is making regular monthly payments that may or may not have been delinquent in the past. The Company acquires these consumer receivable portfolios at a significant discount to the amount actually owed by the debtors.
I will try to find more, please add to the list if you can, they only have DEBT backing most of these right - no hard assets to fall back on - a lot of my redneck buddies are going to take advantage of this 180 day window to get out of thier obligation - but these guys seem to have already went down a lot - seems the smart money would have shorted back in january - how should we play it? |
