"as an ex lawyer I know that most debts are collectable, it just depends on how much you are prepared to lose in the process, and how evasive the debtor wants to be"
That is correct, to an extent. As an ex-debt collector a lot of debt gets written off. You can't bleed a stone. Money goes where it can find a best return. Why spend money on something where the return is uncertain or close to nothing.
Ultimately, if the debt is large enough, a debt can only go to bankruptcy stage. This is very expensive and then it depends on how much you can get back from their assets.
Some people bankrupt someone only to teach them a lesson but ultimately the only ones who win are the lawyers.
this is a bit besides the point. CCP has debt and collects debt. They use debt to buy debt ledgers which they hope to collect more of what they paid for them. A difficult business model in todays climate when even the big banks are writing off debt. Essentially their whole asset base could get written off.
Extreme uncertainty over the continuance of their business model. This is not Aristocrat at 50 cents.
CCP Price at posting:
0.0¢ Sentiment: LT Sell Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)