Credit Corp Is Not Out of the Woods Yet
Credit Corp is a major purchased debt ledger, or PDL, acquirer in Australia, with long-term share of around a third of the market. It is also a minor debt collector in the U.S. market with an estimated share of around 7% in fiscal 2024. PDLs are mainly acquired from banks and financial institutions, and are mostly unsecured credit card debt that are at least six months in arrears and already been through a collection process. Other forms of debt purchases include outstanding telephone or utility bills.