Profile: Encore Capital Group Inc (ECPG.O)
28 Jun 2016
Encore Capital Group, Inc., incorporated on April 29, 1999, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through two segments: Portfolio Purchasing and Recovery, and Tax Lien Business. The Company's portfolio purchasing and recovery segment purchases portfolios of defaulted consumer receivables at discounts and manages them 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, and telecommunication companies. Defaulted receivables also include receivables subject to bankruptcy proceedings. In addition, the Company assists property owners delinquenting on their property taxes by structuring monthly payment plans and purchases delinquent tax liens directly from taxing authorities.
Portfolio Purchasing and Recovery
The Company's portfolio purchasing and recovery segment purchases receivables based on account level valuation. The Company through certain subsidiaries, is engaged in portfolio purchasing and recovery in the United States, including Puerto Rico. The Company's subsidiary, Janus Holdings Luxembourg S.a.r.l. (Janus Holdings), through its indirectly held United Kingdom-based subsidiary Cabot Credit Management Limited and its subsidiaries (Cabot) is engaged in credit management services in the United Kingdom, specializing in portfolios consisting of higher balance, semi-performing accounts. The Company, through Cabot, purchases paying and non-paying receivable portfolios using a pricing model that utilizes account-level statistical and behavioral data. The Company's majority-owned subsidiary, Grove Holdings (Grove), is United Kingdom-based specialty investment firm focused on consumer non-performing loans, including insolvencies (in particular, individual voluntary arrangements (IVAs)) in the United Kingdom and bank and non-bank receivables in Spain. Grove purchases portfolio receivables using a pricing model.
The Company's majority-owned subsidiary, Refinancia S.A. (Refinancia), through its subsidiaries, is engaged in debt collection and management in Colombia and Peru. In addition to purchasing defaulted receivables, Refinancia offers portfolio management services to banks for non-performing loans. Refinancia also specializes in non-traditional niches in the geographic areas in which it operates, including providing financial solutions to individuals having previously defaulted on their credit obligations. In addition to operations in Colombia and Peru, it evaluates and purchases non-performing loans in other countries in Latin America, including Mexico and Brazil. Its subsidiary, Baycorp Holdings Pty Limited (Baycorp), is a debt resolution specialist. The Company, through Baycorp Holdings Pty Limited (Baycorp), specializes in the management of non-performing loans in Australia and New Zealand. In addition to purchasing defaulted receivables, Baycorp offers portfolio management services to banks for non-performing loans.
Tax Lien Business
The Company's Tax Lien Business segment focuses on the property tax financing industry. The Company's subsidiary Propel Acquisition, LLC and its subsidiaries (collectively Propel) acquire and service residential and commercial tax liens on real property. Propel's receivables are secured by property tax liens. Propel works directly with property owners to structure payment plans designed to allow them to keep their properties while paying their property tax obligations over time. In such cases, Propel pays their tax lien obligations to the taxing authorities, and the property owners pay Propel at lower interest rates or over a longer period of time than the taxing authorities would ordinarily permit. Propel also purchases tax liens directly from taxing authorities in certain states.
Encore Capital Group Inc
3111 Camino Del Rio N Ste 103
SAN DIEGO CA 92108-5721