Ann: Appointment of Administrators, page-35

I have had a very quick skim of the CCR business model in the past and I also got a look at it when my broker recommended it shortly after its IPO. IMO the model is certainly more sustainable now that the regulations are favouring much deeper negotiations with late payers and favours keeping the bad debts out of the court system as much as possible. It keeps the creditor company away from creating a bad image if they have unskilled collecting staff in that CCP use proven software systems and skilled collecting staff and they do not give the appearance of a pure debt collector. The CCR business model can be compared almost with factoring in that they are contracting to collect other creditors debts for a fee. They are working much more closely with the creditor and are using skilled collectors to collect the creditors debts saving the company to employ a specifically skilled debt collector or having their accounting department staff spending time on collections without the necessary skills. There is room for these types of arrangements now that debtors are getting used to digital payments and no face to face actions. All IMO and without taking a hard look at CCR but you have actually reminded me to have a look and see how they are travelling.