There is now a well oiled industry for prime, secondary and distressed debt - Openpay is highly likely to have sold off much of its debt at origination anyway, simply to improve its cashflow. Secondary (overdue) stuff may move outside Openpay to specialist collectors and there are businesses which buy distressed (long overdue and skip accounts) for a small sum in the dollar, then go hell for leather to collect on them. In short it is business as usual, and the debtor's obligation always remains to the original contract holder (Openpay) or any successor, or party it wishes to appoint.
OPY Price at posting:
19.5¢ Sentiment: None Disclosure: Not Held
