Credit Corp: Interim result 2015

Debt collector Credit Corp has reported another decent result but, while direct lending beat expectations, the US division lagged.

The US Federal Trade Commission has received more consumer complaints about debt collectors than any other single industry. And it’s reached breaking point, just as Australia's largest debt collector, Credit Corp, is trying to enter the market.

The most significant change in the debt collection industry over the past 10 years has been the rapid growth of ‘ledger purchasing’ – where creditors like banks and utilities sell portfolios of bad debts to third-party debt collectors.

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