Profile: Encore Capital Group Inc (ECPG.O)

Encore Capital Group, Inc. (Encore) incorporated in 1999, is engaged in consumer debt buying and recovery. Encore purchases portfolios of defaulted consumer receivables at deep discounts to face value and use a variety of operational channels to maximize its collections from these portfolios. The Company manages its receivables by partnering with individuals, as they repay their obligations and work toward financial recovery. Defaulted receivables are consumers’ unpaid financial commitments to credit originators, including banks, credit unions, consumer finance companies, commercial retailers, auto finance companies, and telecommunication companies, and may also include receivables subject to bankruptcy proceedings, or consumer bankruptcy receivables. In addition, it provides bankruptcy support services to some of the largest companies in the financial services industry through its wholly owned subsidiary, Ascension Capital Group, Inc. (Ascension). Ascension’s operational platform integrates lenders, trustees, and consumers across the bankruptcy lifecycle. The Company provides sellers of delinquent receivables liquidity and immediate value through the purchase of charged-off consumer receivables. In May 2012, the Company acquired Propel Financial Services, LLC.

During the year ended December 31, 2011, Encore utilized numerous business channels for the collection of charged-off credit card receivables and other charged-off receivables. As of December 31, 2011, Encore had enabled approximately two million consumers to retire a portion of their outstanding debt. The Company maintains its call centers at San Diego, California, Phoenix, Arizona, and St. Cloud, Minnesota and international call centers in Gurgaon, India and Costa Rica.