definately seems to be a misunderstanding of CCP business concept. They buy quality debt that banks etc don't want to follow up on. They know from their statistical data how much to pay for it, how much it will cost to collect and what the total revenue will be. The problem they are experiencing now is due to bedding down the rapid expansion. This business is very labour intensive with a requirement for high people skills and intensive training. When RPC, Repcol went to call centres in India i knew it wouldn't work and subsequently collapsed.
Dealing with people regards collecting debt has got to be done professionally and with tact to get the maximum return.Management is excellent but has obviously got ahead of themselves.They bought RPC debt at a firesale and with all the new business on top of that have been unable to cope.Success has its own drawbacks and hopefully this will be a learning curve.The revenue is there,they just need to ramp up quickly and collect it. RAB
CCP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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