Ann: Credit Corp Group H1 of 2018 Results Presentation, page-24

If the next crisis is enough to really hurt CCP, it will also hurt many other companies not even related to finance. Most, if not all, of your share holdings will get crunched, and those with to much debt will go under. At the moment, things are chugging along in Aus and elsewhere for the foreseeable future. Let's hope it stays like this for a while so we get a decent foothold in the US before long.

Another important point would be that a lot of industry consolidation would occur and PDLs would become 'cheap'. If, as a large player, CCP survives and has some ammunition than it could offset some of the pain. However, it all depends on the scale and nature of the next crisis etcetera. Was the GFC a once every 50yrs true crisis? Will the next bear markets be relatively tame in comparison?