I had a quick look at Encore Capital this evening. The major arm of its USA business is similar to CCP's major arm, Purchased Debt Ledgers. Basically PDLs increased in recent times at lower prices, Encore had more fresh debt to collect on. I have not looked into CCP's business for a long time, so I have nothing more to add.
........................................................... Dollar thousands
................................................... Three Months Ended March 31
............................................................. 2024 ........ 2023
Call center and digital collections ... 235,091 ....... 91,105 increase 23.02%
Legal collections ............................. 128,903 ...... 137,511
Collection agencies ............................ 5,484 ............. 54
Subtotal ....................................... 369,478 ... 328,670
The increase in collections in the United States was primarily a result of consistent increases in capital deployments in the United States in recent quarters.
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