Core Debt

We refer to the purchase of non-bankrupt, charged-off consumer accounts as our Core Debt business. Since 1996, we have purchased more than $41 billion in face value for an investment of over $1.2 billion. Once accounts are purchased, we sort and prioritize them. Next we notify all customers of our purchase of their account via mail, before beginning to call consumers directly. We collect primarily by relying on our own call centers. If we are unsuccessful reaching consumers directly by phone we may use other collection techniques, including phone call campaigns, collection letters, our in-house collection attorneys, or a network of third party collection lawyers. We optimize our collections by primarily relying on our own call centers. Proper underwriting of these accounts is difficult and requires extensive knowledge of the characteristics that predict cash flow. This knowledge is applied to a wide combination of customer demographic characteristics. Our highly experienced statisticians and analysts estimate the value of each account using models built on performance data gathered from over 1,200 Core purchased portfolios. We have developed an enviable track record of being able to accurately predict results. We believe that this has given us a competitive edge in pricing portfolios and has helped us to avoid unnecessary portfolio write-downs based on performance deviation.

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Please contact one of our Core Debt marketing team members below for more information: