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Credit Group (ASX:CCP) Allowance For Loans And Lease Losses


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What is Credit Group Allowance For Loans And Lease Losses?

Allowance For Loans And Lease Losses only applies to banks.


Credit Group (ASX:CCP) Business Description

Traded in Other Exchanges
N/A
Address
201 Kent Street, Level 15, Sydney, NSW, AUS, 2000
Credit Corp operates in the distressed consumer debt market. In its core business, it acquires purchased debt ledgers, or PDLs, in Australia and is expanding this business globally by buying PDLs in the United States. These PDLs consist of unsecured debt that are at least six months in arrears and have already been through a collection process. Since 2012, Credit Corp also diversified its business into providing consumer credit to customers who are unable to gain access to credit from primary sources such as banks because of a poor credit history. Its consumer credit business is gaining scale but is also subject to increased regulatory scrutiny.